Income Tax Calculator
Calculate income tax for India (FY 2024-25)
How to Use Income Tax Calculator
- Choose between Old Regime or New Regime
- Enter your annual income
- Add deductions (for old regime): HRA, 80C, 80D
- View tax breakdown and take-home salary
Key Features
- Old & New Regime - Compare tax calculation under both regimes
- Deductions Support - Include standard deduction, HRA, Section 80C, and 80D
- Slab Breakdown - See exactly how much tax is calculated in each income slab
Frequently Asked Questions
What is the difference between old and new tax regime?
The new regime offers lower tax rates but fewer deductions. The old regime has higher rates but allows deductions under 80C, 80D, HRA, etc. Choose based on your deductions.
Which regime should I choose?
If you have significant deductions (home loan, insurance, investments), old regime may be better. If you have few deductions, new regime may save you tax.
What is Section 80C?
Section 80C allows deduction up to ₹1.5 lakh for investments in PPF, ELSS, life insurance, EPF, home loan principal, etc. Only applicable in old regime.
Is this calculator accurate?
The calculator uses FY 2024-25 tax slabs and is accurate for estimation. However, consult a CA for exact tax liability as individual cases may vary.