Income Tax Calculator

Income Tax Calculator helps you calculate your tax liability under both the old and new tax regimes introduced by the Government of India. Choose the regime that suits your financial situation best.

Our calculator considers all major deductions under the old regime and provides a comprehensive breakdown of your tax liability with visual representation.

Tax Regimes Comparison:

Old Tax Regime:

• Higher tax rates but allows deductions
• Section 80C deductions up to ₹1,50,000
• HRA, LTA, and other allowances
• Standard deduction of ₹50,000

New Tax Regime:

• Lower tax rates but no deductions
• Simplified tax structure
• No Section 80C, 80D benefits
• Higher basic exemption limit

Tax Slabs (2023-24):

Old Regime:

• Up to ₹2.5L: 0%
• ₹2.5L - ₹5L: 5%
• ₹5L - ₹10L: 20%
• Above ₹10L: 30%

New Regime:

• Up to ₹3L: 0%
• ₹3L - ₹6L: 5%
• ₹6L - ₹9L: 10%
• ₹9L - ₹12L: 15%
• ₹12L - ₹15L: 20%
• Above ₹15L: 30%

Features:

• Both tax regime calculations
• Comprehensive deduction support
• Visual tax breakdown chart
• Effective tax rate calculation
• Shareable calculation links