Calculator Module

The main calculator module for computing income tax.

class taxcalcindia.calculator.IncomeTaxCalculator(settings, salary=None, capital_gains=None, business=None, other_income=None, deductions=None)[source]

Bases: object

Income Tax Calculator for individuals.

Parameters:
__init__(settings, salary=None, capital_gains=None, business=None, other_income=None, deductions=None)[source]

Income Tax Calculator for individuals.

Parameters:
property gross_income

Calculate the gross income from all sources.

Returns:

The total gross income.

Return type:

float

property total_deductions

Calculate the total deductions for the individual.

calculate_tax(is_comparision_needed=True, is_tax_per_slab_needed=False, display_result=False)[source]

Calculate tax based on the individual’s income and deductions.

Parameters:

  • is_comparision_needed (bool, optional) – Whether to include tax regime comparison. Defaults to True.

  • is_tax_per_slab_needed (bool, optional) – Whether to include tax per slab details. Defaults to False.

  • display_result (bool)

Returns:

A dictionary containing the tax calculation results.

Return type:

dict

property new_regime_tax: int

Calculates the total tax payable under the new tax regime.

Returns:

Total tax payable under the new tax regime.

Return type:

int

property old_regime_tax: int

Calculates the total tax payable under the old tax regime.

Returns:

Total tax payable under the old tax regime.

Return type:

int

property new_regime_taxable_income: float

Calculates the taxable income under the new tax regime.

Returns:

Taxable income under the new tax regime.

Return type:

float

property old_regime_taxable_income: float

Calculates the taxable income under the old tax regime.

Returns:

Taxable income under the old tax regime.

Return type:

float

property recommended_regime: str

Calculates the recommended tax regime based on the user’s income and deductions.

Returns:

Recommended tax regime (“new” or “old”).

Return type:

str

property tax_savings: int

Calculates the tax savings by comparing the new and old tax regimes.

Returns:

Tax savings amount.

Return type:

int

property new_regime_breakup: dict

Calculates the tax breakup under the new tax regime.

Returns:

Tax breakup under the new tax regime.

Return type:

dict

property old_regime_breakup: dict

Calculates the tax breakup under the old tax regime.

Returns:

Tax breakup under the old tax regime.

Return type:

dict

tax_per_slab(regime='new')[source]

Calculates the tax per slab under the specified tax regime.

Parameters:

regime (str, optional) – The tax regime (“new” or “old”). Defaults to “new”.

Raises:

ValueError – If the regime is not “new” or “old”.

Returns:

Tax per slab under the specified tax regime.

Return type:

dict

clear_cache()[source]

Clear the internal tax result cache. Call this after mutating inputs.

Return type:

None