Income Tax Calculator
Compute your annual income tax with slab-by-slab breakdown under both old and new tax regimes. Includes standard deduction, section 80C, HRA, and other common deductions.
Summary
Tax by Slab
New Tax Regime Slabs (FY 2024-25)
Up to ₹3,00,000: Nil ₹3,00,001 – ₹7,00,000: 5% ₹7,00,001 – ₹10,00,000: 10% ₹10,00,001 – ₹12,00,000: 15% ₹12,00,001 – ₹15,00,000: 20% Above ₹15,00,000: 30% Add: Health & Education Cess @4%
Examples
₹8 LPA salary (New Regime)
Result: Tax: ₹20,800 (eff. 2.6%)
Under new regime: 5% on ₹4L = ₹20,000 + 4% cess
₹15 LPA salary (Old Regime)
Result: Tax: ₹2,62,500 (eff. 17.5%)
Old regime with 80C deductions
₹12 LPA salary (New Regime)
Result: Tax: ₹0 (tax rebate applies)
Under new regime, ₹12L income has nil tax due to Section 87A rebate.
Frequently Asked Questions
Which tax regime is better — old or new?
The new regime has lower rates but no deductions. If your total deductions (80C + HRA + others) exceed ₹3–4 lakh, the old regime may be better. Use this calculator to compare both.
What is Section 87A rebate?
Under the new regime, if taxable income is ≤ ₹7 lakh, a tax rebate of up to ₹25,000 is available, effectively making tax nil.
Is standard deduction available in new regime?
Yes. From FY 2024-25, a standard deduction of ₹75,000 is available under the new regime.