How to calculate income tax in a step by step manner? Income tax computation has been a daunting task for common people. So, we aim to explain the income tax computation in a step by step manner. Income tax can be computed in 4 steps Step 1: Compute income from all sources Step 2: Calculate net taxable income Step 3: Compute income tax based on slabs Step 4: Finalize income tax (Apply CESS, rebate, surcharge) How to fine income tax returns for Assessment year 2020-21? Video link: https://www.youtube.com/watch?v=rWU1hAOGCwI&t=2s How to calculate House Rent Allowance exemption? Video link: https://www.youtube.com/watch?v=bzGiwXaSMSk&t=43s Income tax returns Income tax returns AY2020-21 Income tax returns Assessment Year 2020-21 ITR AY2020-21 Income tax returns calculation How to calculate income tax? How to calculate income tax in? Tax Slabs Tax rate Tax rebate Sec 80C Sec 80D Sec 80E House Rent Allowance Surcharge Tax Exemptions Deducations Sec 80 87A