The app looks good and is easy to use too. It can calculate tax based on your income or you can create an account, which is a simple step and gets detailed calculations done.
You can key in the details, like break-up of your salary, your savings, and investments, and the app will tell you how much tax you need to pay.
The Think Tax app allows you to save the results, mail them to someone or share them with others.
"My Tax India" instantly calculates your tax, tax splits, and can decide how much more investment is needed to save a given amount from your income.
"My Tax India" also comes with added features like the ability to export your details (to mail accounts); and enable multiple user entries etc.
The graphics of the app make it interesting to use and also easy to understand.
You can see nice graphs of where your savings are, how much you've saved and many other details.
While all the other apps in this list are for amateurs, this app is meant for professionals like chartered accountants, cost accountants, lawyers and tax practitioners. If you are none of the above mentioned professionals and are well versed with taxation, you too can use this app.
These professionals have to deal with various tax computations on a day to day basis. They also need to search for case decisions of various tribunals, High Courts and of the Supreme Court of India. Apart from that they need to keep themselves abreast of news in the taxation field.
This Android application is a very easy tool in the palm of finance professionals. They will not only be able to calculate tax deductions and exemptions under the Income Tax Act, but can also search for CBDT (Central Board of Direct Taxes) circulars, instructions and various case laws.
Users can compute tax on total income for the financial year 2011-12, tax deduction at source, house rent allowance exemption, rent free accommodation perquisite, exemption in case of gratuity receipt, leave salary exempt amount etc.