India Income Tax Calculator
Calculate your Income Tax in India based on the old and new tax regimes. Determine which tax regime is better for you.
Understanding Income Tax in India
Income tax in India is levied by the Central Government on the taxable income of individuals, Hindu Undivided Families (HUFs), companies, firms, and other entities. Recently, the government introduced a "New Tax Regime" with lower tax rates but fewer deductions, alongside the "Old Tax Regime" which has higher rates but allows for various exemptions and deductions.
New vs. Old Tax Regime
The old tax regime allows you to claim deductions like Section 80C (up to ₹1.5 lakh for investments like PPF, ELSS, Life Insurance), 80D (health insurance premiums), HRA, and LTA. The new tax regime generally does not allow these deductions, but provides a simpler tax slab structure with lower rates. From FY 2023-24, the new tax regime is the default regime.
How to use the calculator
Enter your gross annual income, select the tax regime you want to evaluate, and (if selecting the old regime) input any applicable deductions under Section 80C or 80D. The calculator will automatically apply standard deductions, calculate your tax based on the applicable slabs, apply the Section 87A rebate if eligible, and add the 4% Health & Education Cess.
Important Tax Calculator Disclaimer
Disclaimer: This India income tax calculator provides estimates based on typical slab rates and deduction rules for educational purposes. Actual tax liability may differ depending on your specific financial situation, state of residence (for state taxes), employer benefits, investment deductions, and changes to tax law. Tax rates, standard deductions, and rebate limits are revised annually and may have changed since this calculator was last updated. Results are approximate approximations that should be verified with a Chartered Accountant (CA) or tax professional before filing returns. This calculator does not account for: surcharges, cess variations by income level, special provisions for senior citizens or non-residents, carry-forward losses, or additional applicable taxes. Always consult a qualified tax professional for accurate tax planning and filing guidance.