One of the things the lender’s consider while calculating your borrowing power is how much tax liability you will have. This is needed for the lender to understand what portion of your income will be deducted as a tax at the end of the year.

Because this will have the effect on the net savings you will make, lenders will use a income tax calculator to calculate this deduction. Use our calculator, to know how tax you may be liable to pay based on your income and other conditions.