Income Tax Calculator – Calculate Your Tax Liability Easily

The Income Tax Calculator helps individuals estimate their annual tax liability under the New Tax Regime and Old Tax Regime in India. By entering your annual income and applicable deductions, you can instantly know how much tax you need to pay.

What is Income Tax?

Income Tax is a direct tax levied by the Government of India on the income earned by individuals, businesses, and other entities. The tax amount depends on income slabs defined in the Union Budget.

New Tax Regime Slabs (Example Structure)

• 0 – 4,00,000 : Nil
• 4,00,001 – 8,00,000 : 5%
• 8,00,001 – 12,00,000 : 10%
• 12,00,001 – 16,00,000 : 15%
• 16,00,001 – 20,00,000 : 20%

Old Tax Regime

The Old Tax Regime allows deductions under sections like 80C, 80D, HRA, and others. However, tax rates may be higher compared to the new regime.

How to Use This Tax Calculator?

1. Enter your annual gross income
2. Select tax regime (New or Old)
3. Add deductions (if applicable)
4. Click Calculate

The tool will instantly show your total tax payable and effective tax rate.

Benefits of Using This Income Tax Calculator

• Instant tax estimation
• Compare old vs new regime
• Helps in financial planning
• Accurate slab-based calculation

Frequently Asked Questions

Q1: Which tax regime is better?
It depends on your total deductions and income level.

Q2: Is rebate available?
Yes, rebate under Section 87A may apply depending on income limits.

Q3: Is this calculator accurate?
Yes, it follows official income tax slab rules.