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Income from Other Sources Calculator India — IFOS, Gift Tax & Lottery Tax FY 2025-26

Calculate tax on FD interest, savings interest, dividends, family pension, and other income under Section 56. Check gift taxability under Section 56(2)(x) with the ₹50,000 threshold rule. Compute lottery and gaming tax at flat 30% under Section 115BB with surcharge and cess. Covers 80TTA/80TTB deductions, old vs new regime, and TDS provisions.

Calculate tax on your Income from Other Sources (Section 56)
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Interest earned on fixed deposits & recurring deposits
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Interest from savings bank accounts (eligible for 80TTA/80TTB under old regime)
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Dividends from shares, mutual funds, etc. Taxable at slab rate from FY 2020-21
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Pension received by family members of deceased employee. Deduction u/s 57(iia) applies.
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Interest received from Income Tax department on refunds (u/s 244A)
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Commission, director fees, insurance commission, or any other IFOS income
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Interest on loan taken to buy shares/MF. Deduction u/s 57 limited to 20% of dividend income.
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Your income from all other heads (for computing tax slab and marginal rate)
Senior citizens (60+) get Section 80TTB deduction up to \u20B950,000 on all interest under old regime
80TTA/80TTB deductions available only under old regime
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How to Use This Calculator

IFOS Tax Calculator tab

Enter your income under each IFOS category: FD/RD interest, savings account interest, dividend income, family pension, interest on IT refund, and commission/other income. In "More options", enter any interest expense on dividends (for Section 57 deduction), your total other income from salary, business, house property, and capital gains (needed for tax slab computation), and your age group (for 80TTB eligibility). Select old or new regime to see the tax impact.

Gift Tax Rules tab

Enter the gift amount, select the source (relative or non-relative), and the occasion (wedding, birthday, or other). For non-relative gifts on non-wedding occasions, enter the aggregate of all non-relative gifts received during the FY. The calculator checks Section 56(2)(x) rules and tells you whether the gift is exempt or taxable.

Lottery/Game Show/Race tab

Enter the gross winning amount, select the type of winning (lottery, crossword, game show, horse race, or online game), and whether TDS was deducted. The calculator computes the flat 30% tax under Section 115BB, applicable surcharge (based on total income), 4% cess, TDS credit, and your net amount in hand.

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What Falls Under Income from Other Sources?

▶ Common IFOS Items & Tax Treatment
Income Type Section Tax Rate Deduction Available
FD/RD interest 56(2)(id) Slab rate 80TTB for seniors (up to ₹50K)
Savings account interest 56(2)(id) Slab rate 80TTA (up to ₹10K) / 80TTB (up to ₹50K)
Dividend income 56(2)(i) Slab rate Section 57: interest expense up to 20% of dividend
Family pension 56(2)(ii) Slab rate Section 57(iia): lower of ₹15,000 or 1/3 of pension
Interest on IT refund 56(2)(viii) Slab rate None
Gifts from non-relatives 56(2)(x) Slab rate (if >₹50K aggregate) None (full amount taxable)
Lottery / game show / betting 56(2)(ib) + 115BB Flat 30% + surcharge + cess None (no deductions allowed)
Commission income 56(2)(ii) Slab rate Expenses incurred to earn it
▶ Section 80TTA vs 80TTB Comparison
Feature Section 80TTA Section 80TTB
Eligible person Individual <60 yrs, HUF Senior citizen ≥60 yrs
Deduction limit ₹10,000 ₹50,000
Applies to Savings account interest only All interest (FD, RD, savings, post office)
Available under Old regime only Old regime only

Neither deduction is available under the new tax regime (default from FY 2023-24). If your interest income is significant, compare both regimes carefully.

Gift Tax Rules — Section 56(2)(x) Detailed Guide

▶ Complete Gift Tax Rules

Always Exempt (No limit):

  • Gift from relative — always exempt, any amount. Relatives: spouse, brother/sister (including spouse’s), parents, in-laws, grandparents, lineal descendants, their spouses.
  • Wedding gift — always exempt from anyone (relative or non-relative), any amount. Must be received “on the occasion of marriage.”
  • Gift under will or inheritance — always exempt regardless of amount.
  • Gift in contemplation of death — exempt.
  • Gift from local authority, approved fund, trust, institution, hospital, university — exempt.

Taxable (Non-relative, non-wedding):

  • Cash/cheque gift: If aggregate from non-relatives ≤₹50,000 in FY → exempt. If >₹50,000 → ENTIRE amount taxable (not just excess).
  • Immovable property: If stamp duty value exceeds consideration paid by >₹50,000 → difference is taxable.
  • Movable property (>₹50K): If fair market value exceeds consideration by >₹50,000 → difference is taxable.
  • Employer gift: If >₹5,000 → taxable as perquisite under Section 17(2), not as IFOS.

Common mistake: Many people think only the excess over ₹50,000 is taxable. This is WRONG. Once the aggregate crosses ₹50K, the ENTIRE amount becomes taxable. For example, ₹60,000 in gifts means ₹60,000 is taxable (not ₹10,000).

Example

Suresh — Salaried employee, FD ₹1.5L + Dividends ₹80K + Family Pension ₹1L

Suresh (age 45) earns a salary of ₹8,00,000 per year. He also has FD interest of ₹1,50,000, dividend income of ₹80,000, family pension of ₹1,00,000 (from his late father’s employer), and savings account interest of ₹6,000. He opts for the new tax regime.

Step 1: Calculate Total IFOS

FD/RD interest₹1,50,000
Savings account interest₹6,000
Dividend income₹80,000
Family pension₹1,00,000
Total IFOS (gross)₹3,36,000

Step 2: Calculate Deductions

Family pension deduction u/s 57(iia)₹15,000 (lower of ₹15,000 or ₹33,333)
80TTA / 80TTB (new regime)Not available
Total deductions₹15,000

Step 3: Taxable IFOS

Total IFOS₹3,36,000
Less: Deductions₹15,000
Taxable IFOS₹3,21,000

Step 4: Tax Impact

Salary income₹8,00,000
Taxable IFOS₹3,21,000
Total income₹11,21,000
Marginal rate (new regime)10%
Tax on salary alone₹30,000
Tax on total income₹62,100
Additional tax due to IFOS₹32,100
Cess (4%)₹1,284
Total tax impact of IFOS₹33,384

Suresh’s ₹3.36 lakh IFOS income adds ₹33,384 to his tax bill under the new regime. Under old regime, he could claim ₹10,000 80TTA deduction on savings interest, but since his savings interest is only ₹6,000, the benefit is limited.

FAQ

Income from Other Sources (IFOS) is the fifth and residual head of income under the Income Tax Act, 1961 (Section 56). Any income that does not fall under the four specific heads — Salary, House Property, Business/Profession, or Capital Gains — is classified under IFOS. Common IFOS items include: FD/RD interest, savings account interest, dividend income, family pension, interest on IT refunds, insurance commission, director fees, gifts exceeding ₹50,000 from non-relatives, lottery/gaming winnings, agricultural income from foreign lands, and any other miscellaneous income. IFOS is generally taxed at your applicable slab rate, except for lottery and gaming income (flat 30% under Section 115BB).
No, gifts from relatives are always exempt from income tax regardless of the amount. “Relative” is specifically defined in the Explanation to Section 56(2)(x) and includes: spouse, brother or sister (including spouse’s siblings), brother or sister of either parent, any lineal ascendant or descendant (parents, grandparents, children, grandchildren), any lineal ascendant or descendant of the spouse, and spouse of any of the above. For gifts from non-relatives, the aggregate in a financial year must not exceed ₹50,000. If it does, the entire amount becomes taxable (not just the excess). Wedding gifts from anyone are always exempt.
Lottery, crossword, game show, horse race, card game, gambling, and online gaming winnings are all taxed at a flat rate of 30% under Section 115BB. This rate applies irrespective of your total income or tax slab. Additionally, surcharge applies if total income (including winnings) exceeds ₹50 lakh, and 4% health & education cess applies on the tax plus surcharge. No deductions, exemptions, or expenses (such as cost of lottery ticket or entry fee) are allowed against this income. TDS at 30% is deducted at source under Section 194B for winnings exceeding ₹10,000. For online gaming, Section 194BA requires 30% TDS on net winnings at withdrawal or year-end.
Several deductions are available against IFOS income: (1) Section 57(iia) — Family pension deduction: lower of ₹15,000 or 1/3 of the pension amount. (2) Section 57 — Interest on loan taken to purchase shares/mutual funds, deductible against dividend income, limited to 20% of gross dividend. (3) Section 80TTA (old regime only) — Deduction up to ₹10,000 on savings account interest for individuals below 60 and HUFs. (4) Section 80TTB (old regime only) — Deduction up to ₹50,000 on all interest income (FD, RD, savings, post office) for senior citizens aged 60+. Note: 80TTA and 80TTB are not available under the new tax regime. No deductions are allowed against lottery/gaming income.
Yes, since FY 2020-21, dividend income is fully taxable at your slab rate. The Dividend Distribution Tax (DDT) paid by companies was abolished, and now the tax burden is on the recipient. TDS at 10% is deducted by the company/mutual fund under Section 194 if dividends exceed ₹5,000 in a financial year. You can claim a deduction under Section 57 for interest expense incurred to earn dividend income, limited to 20% of gross dividend. For example, if you received ₹1,00,000 in dividends and paid ₹30,000 as interest on a loan taken to buy shares, you can deduct ₹20,000 (20% of ₹1,00,000). Report dividend income in your ITR under Income from Other Sources.

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