Taxes are mandatory financial contributions imposed by the government on individuals and businesses to fund public services and government activities. These contributions are essential for the functioning of society, enabling the government to provide services such as healthcare, education, infrastructure, and more.
Gross income refers to the total earnings of an individual or business before any deductions or taxes are applied. It includes wages, salaries, bonuses, and any other sources of income.
Net income is the amount of money an individual or business has after deducting taxes and other deductions from the gross income. It represents the actual amount of money that can be spent or saved.
Our Tax Calculator helps you estimate your net income and the amount of taxes you owe. Simply input your gross income and the applicable tax rate, and the calculator will provide you with the net income and the calculated tax amount. This tool is designed to assist you in understanding your financial situation and planning accordingly.