aikar 0.1.6

Aikar helps in Tax calculations using Python.

Aikar

"Aikar" the name is derived from hindi word "आयकर" which translates to income tax. Aikar is a Python library provides functions helps in Tax calculations using Python.

Indian Govt. collected 27 lakh crore in the form of direct taxes and 21 lakh crore in the form of GST. Tax is a significant finance concept but it's not easy to understand due to lot of nuances and it is quite easy to get confused which regime to choose, where can we invest to save taxes, which deductions are applicable, which ITR form should I use.

Income Tax Slabs for FY 2024-25 (AY 2025-26)

New Regime (Post Budget 2025)

Income Range	Tax Rate
Up to ₹4,00,000	Nil
₹4,00,001 – ₹8,00,000	5%
₹8,00,001 – ₹12,00,000	10%
₹12,00,001 – ₹16,00,000	15%
₹16,00,001 – ₹20,00,000	20%
Above ₹20,00,000	30%

• Standard deduction of ₹75,000 available
• No exemptions/deductions (except NPS 80CCD(2), EPF, etc.)
• Marginal relief applies beyond ₹12.75L

---

Old Regime

Income Range	Tax Rate
Up to ₹2,50,000	Nil
₹2,50,001 – ₹5,00,000	5%
₹5,00,001 – ₹10,00,000	20%
Above ₹10,00,000	30%

• Multiple deductions allowed (80C, 80D, HRA, LTA, etc.)
• Rebate under 87A for income up to ₹5L
• Surcharge & marginal relief applies beyond ₹50L

Features

• Calculation of Income Tax (Old and New Regimes)
• Calculation of Capital Gains Tax (Equity, Debt, Gold)

Installation

pip install aikar

Usage

#import the library 
from aikar import IncomeTaxCalculator
#enter your income,age,regime and deductions under 80C,80CCD2,HRA,Interest paid for Home Loan
income_tax = IncomeTaxCalculator(
    income=1400000,
    age=29,
    regime='new',
    deductions={'80C': 0, 'HRA': 0, '80CCD2': 100000, 'Home Loan': 0}
)
#enter your asset type, profits, buy & sell date for whatever investments you have done eg:- equity, gold, gold etfs, debt, real estate
capital_gains_tax = CapitalGainsCalculator('gold', 125000, '3/1/2023', '3/2/2029')