Income Tax Calculator
Calculate your income tax under both old and new tax regimes. Get detailed insights into your tax liability and savings opportunities.
Tax Calculation Results
Tax Calculation Details
Tax Composition
Tax Calculation Details
Tax Composition
Tax Slabs Comparison
| Income Range | Old Regime Rate | New Regime Rate |
|---|---|---|
| Up to ₹4L | 0% | 0% |
| ₹4L - ₹8L | 5% | 5% |
| ₹8L - ₹12L | 20% | 10% |
| ₹12L - ₹16L | 30% | 15% |
| ₹16L - ₹20L | 30% | 20% |
| ₹20L - ₹24L | 30% | 25% |
| Above ₹24L | 30% | 30% |
Tax Saving Recommendations
About Income Tax Calculator
Our Income Tax Calculator is a comprehensive tool designed to help you calculate your tax liability under both old and new tax regimes. Whether you're a salaried individual, business owner, or professional, this calculator provides accurate tax calculations and personalized insights to help you make informed financial decisions.
The calculator takes into account various income sources, deductions, and exemptions available under both tax regimes. It provides a detailed breakdown of your tax liability, including surcharge and education cess, along with tax-saving recommendations tailored to your financial profile.
How to Use the Calculator
Select Tax Regime
Choose between the old and new tax regime based on your preference and eligibility.
Enter Income Details
Input your salary, allowances, and other sources of income for accurate calculations.
Add Deductions
Include applicable deductions and exemptions under various sections of the Income Tax Act.
View Results
Get detailed tax calculations, charts, and comparisons between both tax regimes.
Get Recommendations
Receive personalized tax-saving suggestions based on your financial profile.
Export Results
Download your tax calculation details in CSV format for future reference.
Income Tax Guide for India — Regime Choice & Worked Example
India’s personal income tax currently offers an old regime (with deductions like 80C, 80D, 24(b)) and a new regime (generally lower slab rates but fewer deductions). This calculator helps you compare liability under both — always re-check the Finance Act / Income Tax portal for the assessment year you are filing.
Worked example (illustrative): Salaried income ₹12 lakh, standard deduction as applicable, no other income. Under the new regime with limited deductions, tax may be lower for many mid-income earners. If the same person invests ₹1.5 lakh in 80C (PPF/ELSS/EPF) and pays ₹25,000 health insurance (80D) under the old regime, run both sides in the calculator — the “winner” flips depending on total deductions and surcharge/cess.
What to enter carefully: taxable salary after exemptions your Form 16 already applied, other income (interest, rent), and only deductions you can actually claim. Do not double-count employer NPS or HRA already netted in Form 16.
Published by HappyMynds / IFSCNOW Editorial. Educational only — not CA advice. Read How to Save Income Tax in India.
Benefits of Using Our Calculator
Accurate Calculations
Get precise tax calculations based on the latest tax slabs and rules.
Regime Comparison
Compare tax liability under both old and new tax regimes to make informed decisions.
Visual Analysis
Understand your tax breakdown through interactive charts and graphs.
Smart Recommendations
Receive personalized suggestions for tax-saving investments and deductions.
Data Security
Your financial information is processed securely and never stored.
Time-Saving
Calculate your taxes instantly without manual calculations or complex formulas.
Key Features
Dual Regime Support
Calculate and compare tax liability under both old and new tax regimes.
Comprehensive Coverage
Includes all major income sources, deductions, and exemptions.
Detailed Analysis
Get complete breakdown of your tax calculation with visual representations.