Disclaimer & Terms of Use

Toolisky provides free online tax calculators designed to help individuals estimate their tax liability under current Indian tax law (Income Tax Act, 1961). These calculators are educational tools that use prevailing tax slabs, deduction rules, and regulations to generate estimates.

The results generated by Toolisky calculators are ESTIMATES ONLY and may not represent your exact tax liability. Tax liability varies based on individual circumstances, including but not limited to: residency status, income composition, applicable exemptions, deductions, special circumstances, recent changes to tax law, and specific personal or business situations.

CRITICAL DISCLAIMER

Toolisky explicitly states that:

• ✗We are NOT tax professionals, chartered accountants (CAs), certified public accountants (CPAs), or lawyers
• ✗We do NOT provide personalized tax advice, tax planning, or financial advisory services
• ✗We do NOT represent you in tax matters or provide audit defense
• ✗We do NOT provide legal counsel or interpretation of tax law
• ✗We do NOT account for special circumstances, complex situations, or individual-specific rules

For all tax matters, you MUST consult with a qualified Chartered Accountant (CA), tax professional, or CPA licensed in your jurisdiction.

Limitations of Calculations

Our calculators may not account for the following situations (non-exhaustive list):

• •Special exemptions under your specific circumstances
• •Agricultural income and exemptions under Section 10A
• •Capital gains treatment and indexation benefits
• •Foreign tax credits and treaty benefits
• •Business losses and carry-forward provisions
• •Income splitting and family arrangements
• •Surcharge applicability based on specific income composition
• •Recently enacted or proposed tax law changes
• •State-level taxes or additional levies
• •Pending litigation or interpretation changes by tax authorities

Tax law is complex and fact-sensitive. While we strive for accuracy, our calculators use general assumptions and may not reflect your unique situation.

Indian tax laws change frequently through:

• •Annual Union Budgets
• •Supplementary laws and amendments
• •Tax Authority notifications and circulars
• •Court rulings and judicial interpretations

Our calculators are updated periodically, but may lag behind actual law changes. You should not rely on our calculator as the authoritative source for current tax law. Always verify with official sources (Income Tax Department website, Ministry of Finance, or a qualified tax professional) before making important financial decisions.

Your Obligations

• •You are responsible for entering accurate information. Errors in your input will result in incorrect calculations
• •You are responsible for verifying calculator results against your actual income and tax records
• •You must consult a qualified tax professional before filing your Income Tax Return (ITR)
• •You understand and accept that Toolisky results are estimates, not final tax determinations

IMPORTANT LIABILITY WAIVER

To the fullest extent permitted by law, Toolisky and its owners, creators, employees, and agents assume NO LIABILITY for:

• ✗Inaccurate, incomplete, or erroneous tax calculations provided by our calculators
• ✗Missed deductions, exemptions, or tax-saving opportunities
• ✗Penalties, interest, or back taxes resulting from incorrect filings based on our calculations
• ✗Tax audit notices, demands, or legal proceedings arising from ITR filed using our calculator
• ✗Financial losses, missed investments, or reduced income due to reliance on our estimates
• ✗Any indirect, incidental, consequential, or special damages arising from use of Toolisky
• ✗Website downtime, data loss, or technical errors
• ✗Any damages whatsoever, whether based on contract, tort, strict liability, or any other legal theory

By using Toolisky, you agree to indemnify and hold harmless Toolisky, its owners, creators, employees, and agents from any claims, damages, losses, liabilities, or expenses arising from:

• •Your use or misuse of the Toolisky calculators
• •Your reliance on calculator results
• •Any ITR filed based on Toolisky estimates
• •Any violation of tax laws or regulations attributed to using Toolisky

Toolisky is provided "AS IS" without any warranties of any kind, whether express or implied, including but not limited to:

• •Warranties of accuracy or completeness
• •Warranties of fitness for a particular purpose
• •Warranties of merchantability or non-infringement
• •Warranties of uninterrupted or error-free operation

We do not guarantee that the calculators will meet your expectations or produce accurate results for your specific circumstances.

You MUST Consult a Tax Professional

Before taking any action based on Toolisky calculator results, including filing your Income Tax Return, you MUST consult with a qualified and licensed tax professional such as:

• •Chartered Accountant (CA) registered with the Institute of Chartered Accountants of India (ICAI)
• •Certified Public Accountant (CPA) in your jurisdiction
• •Tax attorney or legal professional specializing in tax law

A qualified professional can review your specific situation, identify applicable exemptions and deductions, ensure compliance with all tax laws, and represent you in case of tax department inquiries.

This Disclaimer is governed by and construed in accordance with the laws of India, without regard to its conflict of law principles. You irrevocably submit to the exclusive jurisdiction of the courts located in New Delhi, India for any disputes arising from your use of Toolisky.

Toolisky reserves the right to modify this Disclaimer at any time. Changes will be effective immediately upon posting to the website. Your continued use of Toolisky after changes indicates your acceptance of the modified Disclaimer. It is your responsibility to review this Disclaimer periodically.