Income Tax Calculator

    Calculate and compare your income tax under India's Old and New tax regimes for FY 2024-25. Get slab breakdowns and deduction calculations instantly.

    Income

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    Deductions (Old Regime)

    PPF, ELSS, EPF, LIC, NSC, Home loan principal, tuition fees.

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    Max ₹25k for self/family, +₹25k for parents (+₹50k if parents are senior citizens).

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    Max ₹2,00,000 for self-occupied property.

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    The New Tax Regime saves you ₹41,600 annually.

    Monthly savings of ₹3,467

    Old Regime

    Gross Total Income₹8,00,000
    Standard Deduction-₹50,000
    Net Taxable Income₹7,50,000

    Tax Slab Breakdown

    Income SlabTax Acc.
    0 - 2.5L (0%)₹0
    2.5L - 5L (5%)₹12,500
    5L - 10L (20%)₹50,000
    Above 10L (30%)₹0
    Tax before Cess/Surcharge₹62,500
    Health & Ed. Cess (4%)+₹2,500
    Total Tax Payable₹65,000

    New Regime

    Gross Total Income₹8,00,000
    Standard Deduction-₹75,000
    Net Taxable Income₹7,25,000

    Tax Slab Breakdown

    Income SlabTax Acc.
    0 - 3L (0%)₹0
    3L - 7L (5%)₹20,000
    7L - 10L (10%)₹2,500
    10L - 12L (15%)₹0
    12L - 15L (20%)₹0
    Above 15L (30%)₹0
    Tax before Cess/Surcharge₹22,500
    Health & Ed. Cess (4%)+₹900
    Total Tax Payable₹23,400

    Note: This calculator provides an estimate for educational purposes. Tax liability may vary based on individual circumstances, additional income sources, and applicable exemptions.

    Consult a qualified chartered accountant or tax advisor for accurate tax planning.

    How to Use

    Follow these simple steps to get the best results.

    1Pick your details. Select your employment type and the financial year you're planning for.
    2Enter your earnings. Basic salary, HRA and allowances, just copy them over from your latest salary slip.
    3Calculate HRA exemption. Open 'Advanced Details' and tell us your rent and city type to see exactly how much tax-free HRA you're entitled to.
    4Add your deductions. Put in your investments like LIC, health insurance or home loan interest to lower your tax bill in the Old Regime.
    5Compare the regimes. See at a glance whether the New or Old regime puts more money back in your pocket.
    6See the breakdown. Expand the details to see exactly how we handled slabs, surcharges and that final education cess.
    7Reset to model another scenario. Test out a new raise or a new investment plan and see how it changes your tax.

    Frequently Asked Questions

    It's a trade-off. The Old Regime lets you use deductions (like LIC, HRA or home loans) to lower your taxable income, but the tax rates are higher. The New Regime gives you lower rates from the start but takes away almost all those deductions.

    If you don't have many tax-saving investments (like ELSS or PPF), the New Regime is usually the winner. A good rule of thumb: if your total deductions are less than ₹3.75 lakhs, the New Regime is likely better. But use the calculator to see the exact numbers for your case.

    We calculate the three standard rules: what you actually received, how much rent you paid over 10% of your salary and a city-based cap (50% for metros, 40% for others). The tool picks the lowest of those automatically to get your legal exemption.

    Nope. Those big deductions for insurance, ELSS or health premiums are only available in the Old Regime. The New Regime is all about simpler, lower tax rates without the paperwork of deductions.

    It's basically a 'zero tax' rule. If your income is below ₹7 lakh in the New Regime (or ₹5 lakh in the Old), the government gives you a rebate that wipes out your tax bill entirely.

    It's a safety net. Without it, earning ₹1 over the 7L limit could cost you thousands in tax. Marginal Relief ensures that you don't end up paying more in tax than the extra money you actually earned. Our calculator handles this complex math for you automatically.

    How It Works

    New vs. Old: Master the Indian Income Tax Maze

    Every tax season, millions of Indians face the same puzzle: "Which tax regime will save me more money?" There is no single answer because it depends entirely on your lifestyle and investments. Our Income Tax Calculator is a free, instant tool that compares both regimes side-by-side so you can see your exact savings in seconds.

    The Two Paths: Which One Are You?

    The "New Tax Regime" (The Simple Path): This regime is designed for simplicity. You get much lower tax rates and you don't have to worry about tracking investments or saving receipts. However, you give up almost all deductions. It's usually the best choice for people who don't have a home loan or high rent and prefer a "set it and forget it" approach.

    The "Old Tax Regime" (The Investor's Path): This regime has higher tax rates, but it allows you to lower your taxable income using dozens of deductions. If you maximize your 80C investments, pay high rent (HRA) or have a home loan, this regime often results in much lower tax even with the higher rates.

    The Big Four Deductions (Old Regime Only)

    If you're choosing the Old Regime, these are the heavy hitters that will save you the most:

    1. Section 80C: Save up to ₹1.5 Lakh by investing in things like PPF, ELSS Mutual Funds, Life Insurance or your children's school fees.
    2. HRA (House Rent Allowance): If you live in a rented house, a huge chunk of your rent can be deducted from your taxable income. Our calculator handles the complex three-part math for this automatically.
    3. Section 80D: Deduct your health insurance premiums for yourself and your parents.
    4. Section 24(b): If you're paying off a home loan, you can deduct up to ₹2 Lakh of interest every year.

    Beyond the Slabs: Rebates and Cess

    Tax calculation isn't just about your income bracket. We also handle the "hidden" math:

    • Section 87A Rebate: If your taxable income is below ₹7 Lakh in the New Regime (or ₹5 Lakh in the Old), your tax drops to zero.
    • Health & Education Cess: A mandatory 4% added to your final tax bill.
    • Standard Deduction: A flat ₹50,000 deduction that is now available in BOTH regimes for salaried employees.

    Fast, Accurate and 100% Private

    Tax data is sensitive. That's why everything in this calculator happens locally in your browser. We don't store your salary, we don't see your deductions and we never share your data. It's a private, safe space to plan your finances.

    Disclaimer: This tool is for informational and educational purposes only. Tax laws in India change frequently. Always consult with a Certified Chartered Accountant before filing your official returns.

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