As everyone must be aware, the income under the following heads is required to be taken into account while computing the income tax of an assessee:
1.    Income from Salary
2.    Income from House property
3.    Income from Business and Profession
4.    Income from Short Term Capital Gains
5.    Income from Long Term Capital Gains
6.    Income from Other Sources

The ABCAUS Calculator has the option to record and calculate the income tax on the above heads of income as a whole.

Apart from that, the calculator also takes into account the income tax liability arising out of:
a.    Income from Agriculture
b.    Income from Lotteries etc.

Set off of losses under various heads of income as above and carry forward of the losses is an important step and have a bearing on the income tax payable. This calculator has option to give effect to set off of losses while calculating income Tax for the AY 2015-16 (FY 2014-15). Also it computes the total losses to be carried forward.

This is a single click calculator that instantly computes income tax on all categories of individuals; male, females,  senior citizens or very senior citizens.

The usage of the calculator is very simple, users are required to use input data buttons provided in the calculator to fill the various inputs. Macros must be enable in the excel to use the fill buttons. Users are advised to download help on how to enable macros in excel Click Here >> After filling the input data,  pressing the green button(s) calculates the final income tax payable and/or rebate on agriculture income.

The following fill buttons have been provided: