Income Tax Calculator
Calculate income tax under New and Old tax regimes for India. Compare tax liability side-by-side. Free online income tax
How to Use Income Tax Calculator
- Enter your income details: Type your annual income, age (below 60, 60-80, 80+), and select the tax regime (New or Old). For Old regime, enter your deductions under 80C, 80D, etc.
- Calculate tax: Click Calculate Tax to see your total tax liability under selected regime. Results show tax breakdown for each slab.
- Compare regimes: Switch between New and Old regimes to see which one saves you more tax. The comparison view shows both side-by-side.
About Income Tax Calculator
Income Tax Calculator helps you calculate your income tax liability under both the New and Old tax regimes in India. Compare which regime saves you more money.
- Dual Regime Comparison: See tax calculations side-by-side for Old and New tax regimes.
- Age-Based Slabs: Automatically applies correct tax slabs based on your age group.
- Section 80C Deductions: Enter your investments (PPF, ELSS, life insurance, etc.) for Old regime benefits.
- Take-Home Salary: Calculates your in-hand salary after tax deductions.
Essential for Indian taxpayers during financial planning and filing IT returns.
Frequently Asked Questions
Which tax regime is better for me?
The New regime has lower tax rates but no deductions. The Old regime allows deductions (80C, etc.) but has higher rates. This tool calculates both and tells you which saves more.
What deductions can I claim in Old regime?
Section 80C (₹1.5L max for PPF, ELSS, life insurance), 80D (health insurance), HRA, and more. Enter your total deductions to see the tax impact.
What are the income tax slabs for FY 2024-25?
New regime: 0-3L nil, 3-6L 5%, 6-9L 10%, 9-12L 15%, 12-15L 20%, 15L+ 30%. Old regime: 0-2.5L nil, 2.5-5L 5%, 5-10L 20%, 10L+ 30%.