Indian Income Tax Calculator

Estimate your income tax under new and old regimes with deductions – real‑time & multi‑currency.

Enter Your Details – Real‑time Updates

Income

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Deductions (Old Regime Only)

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Max ₹1.5L

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Up to ₹25k/50k

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📘 Understanding Indian Income Tax

How income tax is calculated in India – For individuals, tax is computed on total income after deductions, based on age and chosen regime.

New Tax Regime (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%

No most deductions allowed (except standard deduction of ₹50,000 for salaried).

Old Tax Regime

Slabs depend on age; deductions under Chapter VI-A (80C, 80D, etc.) can be claimed.

For below 60: 0–₹2.5L nil, 2.5L–5L 5%, 5L–10L 20%, above 10L 30%.

Senior citizens (60-80): exemption ₹3L, same slabs.

Super senior (80+): exemption ₹5L, slabs: 5L–10L 20%, above 30%.

Rebate under Section 87A: up to ₹12,500 if taxable income ≤ ₹5L (old) or ≤ ₹7L (new).

Health & Education Cess: 4% on tax amount.

⚠️ Important Disclaimer

This calculator provides simplified estimates. Actual tax liability may vary based on precise income components, surcharge, and applicable rules. Consult a tax professional. Finance Toolbajar is not liable for any financial decisions.