Milaan: Convert Form 16 into a Ready Tax Computation
Form 16 gives you salary break-up, exemptions and TDS, but it does not tell you whether the old or new regime saves you more tax, or what your final computation looks like. Milaan takes your Form 16 and builds a ready tax computation from it: salary break-up, deductions claimed, taxable income and a side-by-side old vs new regime comparison, free.
How to use Milaan
- Upload your Form 16 (Part A and Part B) in the tool.
- Review the extracted salary break-up, perquisites and exemptions.
- Add deductions you claim separately, such as 80C, 80D and HRA details if not fully in Form 16.
- Compare old vs new regime tax and download your computation.
What the computation includes
| Component | Source |
|---|---|
| Gross salary | Form 16 Part B |
| Exemptions (HRA, LTA, standard deduction) | Form 16 + your inputs |
| Deductions (80C, 80D, 80TTA) | Your inputs |
| Taxable income | Computed |
| Tax under old vs new regime | Computed with slab rates and rebate |
Why regime comparison matters
For FY 2026-27 the new regime taxes income up to Rs 12 lakh at effectively nil (with rebate under section 87A), while the old regime rewards those with large 80C, HRA and home-loan deductions. The breakeven varies per person, so a computed comparison beats guessing.
Frequently asked questions
Q: Is Milaan free?
A: Yes, Milaan is completely free to use.
Q: Is my Form 16 data safe?
A: The tool processes your upload to build the computation; do not upload documents on shared or public computers.
Q: Does Milaan file my ITR?
A: No. Milaan prepares the computation; you file the return on the income-tax portal using these figures.
Q: Old or new regime: which is better?
A: It depends on your deductions. Milaan computes both so you can see the exact difference.
Q: Can I use Milaan with only a salary slip?
A: Form 16 works best since it carries TDS and exemption details, but you can enter figures manually too.