Income Tax Calculator

Estimate your income tax liability under India's old or new tax regime. Slab rates and exemption limits are stored as editable data in this calculator (not hardcoded logic), since they change with every Union Budget — verify the figures below against the current Finance Act before publishing.

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What is the Income Tax Calculator?

Income tax in India is charged on your annual income using a slab system — different portions of your income are taxed at increasing rates. You can choose between two regimes: the new regime, with lower rates but almost no deductions, and the old regime, with higher rates but generous deductions like Section 80C, 80D, and HRA.

This calculator estimates your tax under either regime so you can compare them and pick whichever leaves you with more take-home pay.

How to Calculate

Your income tax is worked out in these steps:

Subtract the standard deduction (and, in the old regime, your other deductions) from gross income to get taxable income.
If taxable income is at or below the rebate threshold (₹12 lakh new / ₹5 lakh old), the tax is fully rebated to zero.
Otherwise, apply each slab's rate to the portion of income that falls within it, and add them up.
Add a 4% health & education cess on the computed tax.

Formula

Tax is calculated slab by slab on your taxable income (income minus the standard deduction, and minus other deductions if you're on the old regime):

New regime slabs (verify current year): 0-4L: 0% · 4-8L: 5% · 8-12L: 10% · 12-16L: 15% · 16-20L: 20% · 20-24L: 25% · above 24L: 30%. Full rebate (zero tax) if taxable income is ₹12 lakh or below.

Old regime slabs (below 60): 0-2.5L: 0% · 2.5-5L: 5% · 5-10L: 20% · above 10L: 30%, with a higher basic exemption for senior/super-senior citizens. Full rebate if taxable income is ₹5 lakh or below.

A 4% health & education cess is added on top of the computed tax in both regimes.

Worked Examples

Example 1 u2014 ₹15L under the new regime

Taxable income after ₹75,000 standard deduction = ₹14,25,000. Slab tax ₹93,750 + 4% cess = ₹97,500.

Example 2 u2014 ₹10L pays zero under the new regime

₹10,00,000 income leaves ₹9,25,000 taxable, which is under the ₹12,00,000 rebate threshold — so the tax is ₹0.

Example 3 u2014 Old regime with deductions

₹12,00,000 income under the old regime, claiming ₹1,50,000 (80C) + ₹50,000 (standard deduction): taxable ₹10,00,000, tax about ₹1,12,500 + cess. Whether old or new is cheaper depends on how many deductions you claim — compare both.

Definitions

Annual Income: Your gross yearly income before deductions.
Tax Regime: New regime has lower slab rates and a higher rebate but few deductions; old regime allows deductions like 80C, 80D and HRA at higher rates.
Standard Deduction: A flat deduction from salary income — ₹75,000 under the new regime, ₹50,000 under the old.
Rebate (Section 87A): If taxable income is at or below the threshold (₹12L new / ₹5L old), the computed tax is fully rebated to zero.
Health & Education Cess: A 4% surcharge added on top of the computed income tax in both regimes.

How to Use

Enter your annual income.
Choose old or new regime.
If old regime, select your age band and enter total deductions (80C, 80D, HRA exemption, home loan interest, etc.).
Read your taxable income, tax before cess, cess, total tax, and net take-home.

Frequently Asked Questions

Which regime should I choose?

It depends on how many deductions you claim. The old regime benefits people with substantial 80C/80D/HRA/home-loan deductions; the new regime's lower slabs and higher rebate threshold tend to favor those with fewer deductions. Run both and compare u2014 that's exactly what toggling the regime selector here lets you do.

Why does my tax show as zero even though I have income above the exemption limit?

This is the Section 87A rebate u2014 if your taxable income falls at or below the rebate threshold (u20b912 lakh under the new regime, u20b95 lakh under the old regime), the entire computed tax is rebated to zero, not just the portion above the basic exemption.

Does this include surcharge for very high incomes?

No u2014 this calculator does not model surcharge, which applies additionally to taxable incomes above u20b950 lakh under both regimes. For high-income calculations, this is a known simplification.

Are these tax slabs current?

Tax slabs change with each Union Budget (typically presented on 1 February). The figures in this calculator should be verified against the current Finance Act before you rely on them u2014 they are stored as editable configuration specifically so they can be updated each year without a code change.