Tax Deduction Summary Calculator

Work out tax deduction summary instantly with clear inputs, formula shown and shareable results.

About Tax Deduction Summary Calculator

Each deduction head carries its own cap, so spending beyond it buys no relief. Summarising claimed against allowed amounts shows how much of your outlay is genuinely tax-efficient and how much is simply spending.

Formula

Allowed deductions

Allowed = min(each claim, its cap); saving = allowed × marginal rate

Worked example

With the default values below, Tax Deduction Summary Calculator returns Deductions Actually Allowed of $390,000.00. Change any input above and every figure here is recalculated in your browser.

Inputs used

Investment Deductionsminimum 0: 180,000
Health Insurance Premiumminimum 0: 40,000
Home Loan Interestminimum 0: 260,000
Marginal Tax Rateaccepts 0–60 %: 30 %

Results

Deductions Actually Allowed: $390,000.00
Tax Saved: $117,000.00
Amount Lost To Statutory Caps: $90,000.00
Relief Per Unit Spent: 24.38%

Step by step

1Values used
2Allowed deductions
3Deductions Actually Allowed= 390,000.00
4Tax Saved= 117,000.00
5Amount Lost To Statutory Caps= 90,000.00
6Relief Per Unit Spent= 24.38

Assumptions and limits

The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
In particular, this calculator does not take inflation, fees or charges or compounding frequency into account.
Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
Tax figures are estimates based on the rates, caps and thresholds you enter. Real rules differ by jurisdiction and change every year, and personal circumstances alter the outcome. This is not tax or financial advice — confirm with a qualified adviser.
This is an estimate for general information and not professional financial, tax or legal advice. See the full disclaimer for the limits that apply to this kind of calculator.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Tax figures are estimates based on the rates, caps and thresholds you enter. Real rules differ by jurisdiction and change every year, and personal circumstances alter the outcome. This is not tax or financial advice — confirm with a qualified adviser.

Frequently Asked Questions

Why does spending above the cap not help?

The statute fixes the maximum deduction per head. Anything beyond it reduces cash without reducing tax.

Do deductions save at the marginal or average rate?

At the marginal rate, because they remove income from the top slab first.