Income Tax Calculator

Calculating your income tax takes less than a minute:

1. Enter your annual income from salary, business, or other sources.
2. Enter applicable deductions such as Section 80C investments, HRA, or standard deduction.
3. Select the tax regime you want to calculate under — old or new.
4. Click Calculate to instantly see your tax liability, applicable slab rates, and take-home income.

The calculator also lets you compare both regimes side by side, helping you choose the one that results in lower tax outgo.

Income tax is a direct tax levied by the Government of India on the income earned by individuals, businesses, and other entities during a financial year. The tax is calculated based on income slabs, with higher income attracting higher tax rates under a progressive taxation system.

Every taxpayer must calculate their tax liability and file an Income Tax Return (ITR) before the due date, even if tax has already been deducted at source (TDS) by an employer or other payer.

Taxpayers in India can choose between two tax regimes:

• Old Tax Regime — Offers higher tax slabs but allows numerous deductions and exemptions, such as Section 80C, HRA, LTA, and home loan interest.
• New Tax Regime — Offers lower tax slabs and rates but removes most deductions and exemptions, except for a few like the standard deduction.

Which regime is better depends on how many deductions you can claim. Taxpayers with significant investments, HRA, or home loan interest often benefit more from the old regime, while those with fewer deductions often save more under the new regime.

Under the new tax regime, income is taxed at the following slab rates:

• Up to ₹3,00,000 — Nil
• ₹3,00,001 to ₹7,00,000 — 5%
• ₹7,00,001 to ₹10,00,000 — 10%
• ₹10,00,001 to ₹12,00,000 — 15%
• ₹12,00,001 to ₹15,00,000 — 20%
• Above ₹15,00,000 — 30%

Note: Tax slabs are subject to change with each Union Budget. Always verify the latest slabs on the official Income Tax Department website before filing your return.

Several factors determine your final tax liability:

1. Total Income — Higher income generally results in a higher tax liability due to progressive slab rates.
2. Deductions and Exemptions — Claiming eligible deductions under the old regime can significantly reduce taxable income.
3. Tax Regime Chosen — The old and new regimes can result in very different tax outcomes for the same income level.
4. Source of Income — Salary, business income, capital gains, and other income types may be taxed differently.

Our calculator helps you plan your taxes smartly by allowing you to:

• Get instant, accurate tax liability calculations
• Compare your tax outgo under both old and new regimes
• Understand exactly which deductions can lower your tax burden
• Make informed decisions before filing your income tax return