The most popular form of financing in the Indian debt market is personal loans. In India, this category includes more than 78% of all loan applications. Banks, credit unions and online lenders all have the power to provide personal loans. Personal loans are a standard option for potential borrowers because they don't demand collateral and are disbursed instantly.

You can take personal loans for various things, including trips, unforeseen expenses, business expansion, and higher education. But, before applying for a personal loan, several crucial elements must be considered, including interest rates, ability to repay, and loan tenure.

When you seek out a personal loan, you must repay the principal amount borrowed over time, along with a specific percentage of interest. You can calculate the monthly amount you must pay using a personal loan EMI calculator.

It would be best if you used an online calculator to determine the EMI before applying for a personal loan so that you are aware of the monthly payment you will be required to make for the duration of the loan. In addition, this calculation will enable you to comprehend personal loan EMIs' effects on your spending capacity and lifestyle.

What are the Reasons to Use a Personal Loan EMI Calculator?

Calculating personal loan EMI manually could be efficient and generate accurate results. Thus, using a personal loan EMI calculator is recommended. Some of the key benefits of using an EMI calculator are listed below: 

You can ascertain the exact amount you must pay each month once you calculate the EMI amount payable on your loan. As a result, you may easily plan out all of your monthly expenses during the tenure and incorporate monthly EMIs.

Make Decisions by Changing the Factors Affecting EMI Amount

The loan amount, monthly interest rate, and tenure determine your EMI amount. However, using an EMI calculator, you can experiment with various loan amounts, terms and interest rates. This calculator will help you choose the appropriate loan amount without impacting your lifestyle or financial situation.

Calculate your EMI before applying for a personal loan so that you are ready to manage your finances and make timely payments on the loan. As a result, you will be on time for any EMIs, preventing you from having a bad credit rating.

The personal loan EMI calculator performs all the complex calculations within seconds, saving significant time. Conversely, when you perform analyses manually, there is a risk of inaccuracy.

How does an EMI Calculator for Personal Loans Work?

A standardized mathematical formula is used to calculate the personal loan EMI amount. The online tool will quickly compute the EMI amount once you enter the necessary principal loan amount, interest rate and period.

EMI amount = [P x R x (1+R) ^N] / [(1+R) ^ (N-1)]

"P" indicates the principal or loan amount

"R" stands for the monthly interest rate 

"N" denotes the number of monthly EMIs or the duration of the loan in months

Personal loans are becoming one of the most commonly utilized financial products. As a result, lenders have observed a significant growth in the distribution of personal loans over time. However, like other financial decisions, you must only undertake a personal loan after careful consideration of all factors.

A personal loan is a financial burden that may directly or indirectly affect your finances and lifestyle. Because of this, before applying for a personal loan, you must clear any confusion by using an EMI calculator.

Personal Loan EMI Calculator

Explore the accuracy and benefits of tax calculators in this informative blog. Learn how to use online tax calculators, their advantages in saving time and money, and the importance of choosing a reliable tool. Discover how these user-friendly calculators enhance financial planning and decision-making while ensuring accurate results for your tax liabilities.

Are Tax Calculators Accurate?

Calculating income tax for an entire year can be a complex and time-consuming task, leaving individuals and business owners overwhelmed. Thankfully, the rise of online tax calculators has provided a convenient solution.

These digital tools offer the ability to estimate your income tax based on your earnings throughout the year. However, with a plethora of options available, it can be challenging to determine which calculators are reliable and accurate.

This blog aims to explore the accuracy of tax calculators and shed light on their benefits. So, let's delve into the world of tax calculation tools and gain a better understanding of their reliability.

How do I calculate taxes using an online tax calculator?

The online tax calculators help prepare the current year's financial statement. Thus, you can minimise the tax liability as much as possible.

As there are several tax calculators available on the internet, picking the right one is a necessity. The wrong tax calculator can generate incorrect results. So, the very first step in the process is to select a trustworthy, reliable, and updated tax calculator.

2. Acquire relevant financial information

Before using an online tax calculator, you must acquire all the information related to finances, including taxable income and essential documents that would generally be needed for filing taxes.

Now use the online tax calculator to correctly enter all the necessary data.

Here are some of the essential details that you need to keep handy while using most of online calculators: 

Select the financial year for which you want to calculate tax liability.

Select the correct age range: if you are a regular individual, select within 0 to 60 years; if you are a senior citizen, then 60–80 years; and if you are a super senior citizen, then 80 and above.

Now you need to enter the details of gross income, income from other sources, rental income, and income from interest.

Finally, input the details of medical insurance, bank interest, life insurance, or any such investments included under Section 80C to avail of tax benefits.

Revise all the information to ensure you have not entered any incorrect details.

The tax calculator will process all the data and offer you a rough estimate of the tax liability that you would owe to the government.

What are the advantages of online tax calculators?

Online tax calculators offer a great deal of advantages, and we have listed a few of them here:

The advent of online tax calculators has revolutionised the process of calculating taxes. These user-friendly tools offer a streamlined approach to estimating tax liabilities.

By simply inputting the relevant financial information, you can obtain a rough estimation of their tax liability for the entire year. This valuable insight enables better financial planning and decision-making throughout the year. Embracing the convenience of online tax calculators has genuinely transformed the tax calculation process.

Online tax calculators are powerful tools that can swiftly calculate your tax liability within seconds, sparing you from the arduous task of manual calculations. All you need to do is gather and enter the relevant financial information, and the online tax calculator will do the rest.

Embracing the efficiency of online tax calculators allows you to reclaim valuable time and focus on other essential aspects of your financial planning.

When it comes to manually calculating tax liability, the risk of errors is always present. However, by selecting a reputable and trustworthy tax calculator, you can obtain accurate results. It is crucial, though, to ensure that all the necessary information is entered correctly.

Embracing the use of a reliable online tax calculator empowers you with the confidence that your tax liability is determined with precision, ensuring compliance and peace of mind. Choose accuracy and reliability by using a trusted tax calculator for your financial calculations.

4. 24/7 Accessibility and Financial Planning Convenience

One of the remarkable advantages of online tax calculators is their round-the-clock accessibility, enabling users to access them from anywhere in the world. This level of convenience empowers taxpayers to estimate their tax liability and make informed financial plans at their own convenience.

One of the notable advantages of using an online tax calculator is its cost-effectiveness. There is no monetary expense associated with using these calculators. All that is required is an internet connection on your mobile device or laptop.

By leveraging this free-of-charge tool, taxpayers can access accurate estimations of their tax liability without incurring any additional costs.

Tax Slab Rates of 2023-2024 Below 60 Years of Age

Online tax calculators offer a multitude of benefits when it comes to estimating your income taxes for a specific year. They provide the remarkable advantage of instant calculations, saving you valuable time and effort. These calculators are not only user-friendly but also offer secure platforms to ensure the confidentiality of your financial information.

By harnessing the power of a reliable and updated online tax calculator, individuals and business owners can gain a clearer understanding of their tax liabilities. These calculators serve as valuable tools for financial planning, empowering you to make informed decisions regarding your finances.

Discover the essential tools for crypto calculation and compliance in India with our blog on the top 5 solutions. Stay informed, maximize efficiency, and navigate the complexities of cryptocurrency transactions seamlessly.

Top 5 Tools for Crypto Calculation and Compliance in India

Cryptocurrencies have been on the rise in India for a long time, with numerous investors and dealers showing interest in computerised resources. In any case, with the expanding popularity of cryptocurrencies, administrative bodies in India have been closely checking their utilisation and have forced a few directions to guarantee their security and anticipate illegal exercises.

As a result, crypto calculation and compliance instruments have become fundamental for people and businesses to oversee their crypto-related practices. This article will discuss India's best five crypto calculation and compliance tools.

Overview of Cryptocurrency Regulation in India

The Reserve Bank of India (RBI) has issued various cautions regarding the risks associated with cryptocurrencies in India. In 2018, the RBI prohibited banks from managing crypto trades, which resulted in a decline in crypto exchanging exercises within the nation.

Be that as it may, in Walk 2020, the Supreme Court of India overturned the boycott, permitting people and businesses to exchange cryptocurrencies once more.

Despite the authorisation of cryptocurrencies, the Indian government has proposed a bill that points to boycotting all private cryptocurrencies and making a central bank digital currency (CBDC). The bill moreover proposes a punishment for people who hold, mine, or exchange cryptocurrencies.

With these directions in place, people and businesses have to guarantee that they comply with the rules and controls set by the government.

Need for Crypto Calculation and Compliance Tools

Calculating and managing cryptocurrency-related taxes can be overwhelming, particularly for people and businesses who exchange frequently. Moreover, the cost instability and the complexity of transactions make it difficult to keep track of gains, losses, and taxes. In addition, with the expanding investigation by regulatory bodies, it is essential to guarantee that all transactions comply with the regulations.

A few crypto calculation and compliance tools have been created to simplify the method and guarantee compliance. These tools offer features such as automated tax calculations, exchange history tracking, and compliance reporting.

Top 5 Crypto Calculation and Compliance Tools

The top 5 Crypto Calculation and Compliance Tools are as mentioned below:

TaxNodes is a cryptocurrency tax calculator that allows clients to calculate their charges precisely. The tool supports all major cryptocurrencies and trades, making it simple for clients to monitor their exchange history.

TaxNodes, too, offers a user-friendly interface that simplifies the tax calculation process. Additionally, the device produces tax reports that can be used to record tax returns.

Taxbit is another prevalent tax calculation device with advanced features like real-time tax calculations and exchange tracking. The device is compatible with over 4,500 cryptocurrencies and 300 exchanges, making it one of the foremost comprehensive tax calculation tools. 

Taxbit also offers a tax-loss collecting feature that makes a difference in minimising tax liability.

Koinly could be a cryptocurrency tax program supporting over 6,000 cryptocurrencies and 300 exchanges. The tool offers an easy-to-use interface that simplifies the tax calculation process. Koinly, too, produces charge reports that can be used to record tax returns. 

Also, the tool offers a portfolio tracking feature that permits clients to monitor their investments in real time.

KoinX is a cryptocurrency trade platform offering features to guarantee control compliance. For example, the exchange provides a Know Your Customer (KYC) preparation that confirms users' personalities and ensures compliance with the controls. 

KoinX moreover offers a user-friendly interface that simplifies the exchange process. Also, the exchange provides a range of security features to guarantee that users' reserves are secure.

Binocs is a blockchain analytics device that gives a range of features to guarantee compliance with regulations. For example, the tool uses progressed analytics to monitor exchanges and recognise suspicious movements. 

Binocs, too, offers a user-friendly interface that rearranges the compliance process. Also, the tool produces compliance reports that can be displayed to administrative bodies.

With the increasing ubiquity of cryptocurrencies, it is essential to guarantee that all exchanges are compliant with directions set by administrative bodies in India. The utilisation of crypto calculation and compliance tools can simplify the method of calculating charges and guaranteeing compliance.

TaxNodes, Taxbit, Koinly, KoinX, and Binocs are some of India's top crypto calculation and compliance instruments that offer advanced features and user-friendly interfaces. These tools can assist individuals and businesses in managing their crypto-related exercises efficiently and guarantee compliance with controls.

Therefore, inquiring about and selecting the finest tool that meets your needs and requirements is suggested.

Learn how Capital Gain Tax is calculated on recurring investments in India. Understand the key factors that impact taxation, including holding periods and applicable rates. Explore essential insights and guidelines for efficient tax planning to maximize your returns on investments. Stay informed with expert advice on navigating the Indian tax system for recurring investment gains. Read more now!

How is Capital Gain Tax Calculated on a Recurring Investment in India

The primary goal of investing in any asset is to generate a profit by selling it after its value appreciates. However, these profits are not always tax-free. The Income Tax Act specifies the capital assets that are taxable, as well as the applicable tax rates. Investing in assets like cryptocurrencies, stocks, real estate, or mutual funds can generate capital gains, which are subject to taxation. It is crucial for investors to understand how capital gains tax is calculated to make informed financial decisions. In this blog, I will explain the basics of capital gain tax calculation on a recurring investment in India.

A recurring investment is a systematic approach to investing where an individual regularly invests a fixed amount at consistent intervals, such as monthly or quarterly, in a specific financial instrument or asset. Mutual Funds are one such example of recurring investment. This strategy enables investors to accumulate wealth over time while balancing out the cost of purchases. The profits generated from these recurring investments fall under the category of capital gains according to the Income Tax regulations, and the applicable tax is determined based on the holding period, which can be classified as either long-term or short-term capital gains.

Capital gains tax can be classified into two categories: short-term capital gains tax and long-term capital gains tax. The classification depends on the holding period of the capital asset being sold.

Short-term capital gains tax: For land, property, and similar assets, if sold before 24 months from the date of purchase, it is considered a short-term capital gain. For equity, bonds, gold, and mutual funds, if sold before 12 months from the date of purchase, it is classified as a short-term capital gain. For debt-oriented assets like bonds and mutual funds, if sold before 36 months from the date of purchase, it is categorized as a short-term capital gain.

Long-term capital gains tax: For land, property, and similar assets, if sold after 24 months from the date of purchase, it is considered a long-term capital gain. For equity, bonds, gold, and mutual funds, if sold after 12 months from the date of purchase, it is classified as a long-term capital gain. For debt-oriented assets like bonds and mutual funds, if sold after 36 months from the date of purchase, it is categorized as a long-term capital gain.

Criteria for Inherited Securities: In cases where the asset is acquired through a gift, will, succession, or inheritance, the period for which the asset was held by the previous owner is also taken into account to determine whether it is a short-term or long-term capital asset.

Capital gains tax rates as per asset class

The tax rates for capital gains differ based on the asset class. Here are the applicable rates:

Long-term capital gains tax: For assets other than equity-oriented fund units or equity shares, the tax rate is 20%. For the sale of equity-oriented fund units or equity shares, a tax rate of 10% is applicable on gains exceeding ₹1,00,000.

Short-term capital gains tax: When securities transaction tax is not applicable, the short-term capital gains tax is added to the individual's income tax slab. When securities transaction tax is applicable, the tax rate is 15%.

Before we go into the details of the calculations, let us understand a few terms used for the calculation:

Capital assets include land, house, property, building, trademarks, vehicles, leasehold rights, machinery, patents, and jewellery. 

The consideration to be received or received by the seller as a result of the transfer of the capital asset is known as the full value consideration. Capital gains tax applies in the year of transfer, even if the seller receives no consideration in that year.

The cost of acquisition is the sum the seller paid to acquire the capital asset in the first place.

An expense incurred by the seller for making any alteration or additions to the capital asset is known as the cost of the improvement. 

It is a method of adjusting the purchasing price of an asset to reflect the effects of inflation so that the capital gain on the assets is taxed fairly.

The inflation index is a measure of the rate of inflation, which is used to adjust the purchase price of an asset for capital gain tax purposes.

Capital gains tax is calculated differently for different periods on different capital asset classes.

Start with the full value of consideration.

Deduct the indexed cost of acquisition + indexed cost of transfer + indexed cost of improvement.

Let us define the terms used in the above formula:

Indexed cost of acquisition = (cost of acquisition x by the cost of inflation index of the acquisition year)/(cost of inflation index of the transfer year)

Indexed cost of transfer = (brokerage paid for arranging the deal, legal and other expenses x cost of inflation index of the improvement year)/(cost of inflation index of the transfer year)

Indexed cost of the improvement = (cost of improvement x cost of inflation index of the improvement year)/(cost of inflation index of the transfer year)

Long-term Capital Gains Tax = (Full Value Consideration) - (indexed cost of acquisition) + (transfer) + (indexed cost of improvement)

Deduct the cost of acquisition + cost of transfer + cost of improvement.

The final amount will be short-term capital gain.

Short-term capital gain = full value consideration - (cost of acquisition + cost of transfer + cost of improvement).

What are the different tax rates for different asset types?

The long-term capital gains on stocks and equity mutual funds are taxed at 10%. 

If the gains on the sale of listed securities exceed ₹1 lakh, the short-term gains are taxed at 15 per cent. 

The short-term capital gains debt mutual funds are added to the taxpayer's income. They are taxed according to the individual's income tax slab. 

The long-term capital gains on debt mutual funds are taxable at 20% with indexation and 10 % without indexation.
 

Let us look at each of these assets and their taxes in detail: 

A capital gain bond is a type of bond where you can invest within six months of selling your asset.

You can invest in specific bonds like the National Highway Authority of India and Rural Electrification Limited and get tax exemption under Section 54EC of the Income Tax Act. 

Capital gains, in this case, cannot be redeemed before three years. The individual can earn a guaranteed rate of interest on the bond. During a financial year, one can invest up to a maximum of ₹50,00,000 in capital gain bonds. This benefit is only available for long-term capital bonds.

The following expenses are deducted from the total sale price:

Commission or brokerage paid for securing the purchaser.

Expenses related to travel along with the transfer.

The place of property inheritance, expenses incurred concerning the process associated with the inheritance and the will, gaining the certificate of succession, in some cases, the cost of the executor is also applicable.


Capital gains taxes on the sale of shares

Commission of brokers related to the sold shares.

Securities transaction tax (STT) is not allowed as a deductible expense.


What are the things to be careful about while calculating capital gains tax?

Capital gains tax comes into play during exit, not entry

You probably have a broad idea about the capital gains tax on investment. However, you may choose to consider it in detail at a later stage. This is because the capital gains tax comes into play only when you exit the investment. You do not pay any capital gains tax when you enter an investment. 

Enter an investment with an exit strategy and time horizon

Entering an investment without considering an exit strategy and time horizon is like doing only half of the homework. Having a clear exit strategy and time horizon frame is important. After knowing all the capital gains tax implications, you can ask yourself: 

Does the investment still match my investment goal? 

Does it still match my risk appetite (capacity to take risks)? 

Am I comfortable entering the investment knowing fully well when and how much capital gains tax I will have to pay when I exit?


Understanding the basics of capital gains tax calculation on recurring investments is essential for investors in India. By comprehending the classification of capital gains as either short-term or long-term, based on the holding period of the asset, investors can determine the applicable tax rates. The tax rates for long-term capital gains range from 10% to 20%, depending on the asset class. In comparison, short-term capital gains are added to the individual's income tax slab or taxed at a fixed rate of 15% when securities transaction tax is not applicable.

To calculate capital gains tax, investors need to consider factors such as the full value consideration, cost of acquisition, cost of improvement, and indexed costs. It is crucial to be cautious while calculating capital gains tax, considering expenses that can be deducted and being aware that tax is applicable only upon exiting the investment. Having a clear exit strategy and time horizon can help investors make informed decisions while considering the implications of capital gains tax on their investments.