🇮🇳 India Income Tax Calculator
Assessment Year 2024-25 (Financial Year 2023-24)
💰 Income Details
📋 Deductions (Old Regime)
Maximum: ₹1,50,000
📊 Tax Calculation
Enter your income details and click calculate to see your tax breakdown
📋 Tax Slabs 2024-25
⚠️ Important Notes
- • This calculator provides an estimate based on current tax rates
- • Cess of 4% is applicable on income tax and surcharge
- • Surcharge applies on income above ₹50 lakhs (old regime) / ₹1 crore (new regime)
- • Consult a tax professional for accurate tax planning
Table of Contents
Calculate Your Taxes Easily
Use to calculate our Income Tax calculator. Life made easy to save your time. our Income Tax calculator give you accurate result for both under the New Regime and old Regime.
Paying income tax is a responsibility for every working professional, business owner, and investor in India. But for most people, calculating income tax feels confusing. With changing rules, multiple income sources, and deductions under the Income Tax Act, it can be tough to know how much you actually need to pay.
That’s where an Income Tax Calculator for India comes in handy. It’s a simple tool that helps you calculate your tax liability in minutes—without needing to know complex formulas or tax laws.
In this guide, we’ll explain everything about income tax in India, including latest slabs, deductions, examples, and FAQs.
What is an Income Tax Calculator?
An Income Tax Calculator India is an online tool that estimates how much tax you need to pay based on:
- Your annual income (salary, business, or other sources)
- Investments and deductions under 80C, 80D, and other sections
- Your age (since senior citizens get special benefits)
- The tax regime you choose (Old Regime vs. New Regime)
Instead of calculating manually, you simply enter your details into the calculator and get an instant tax summary.
Why Do You Need an Income Tax Calculator in India?
People often ask:
- “How much tax will I pay on 10 lakh salary in India?”
- “How do I calculate my tax after 80C deductions?”
- “What is the difference between old and new tax regimes?”
An online calculator answers these questions instantly. It helps you:
- Plan your savings and investments better
- Avoid mistakes while filing ITR (Income Tax Return)
- Understand whether you should choose Old or New Regime
- Save time and reduce dependency on a CA (Chartered Accountant)
Income Tax Slabs in India (FY 2024-25 / AY 2025-26)
Tax in India is calculated based on slabs. Different income ranges are taxed at different rates.
New Tax Regime (default for 2025)
| Income Range | Tax Rate |
| Up to ₹3,00,000 | Nil |
| ₹3,00,001 – ₹6,00,000 | 5% |
| ₹6,00,001 – ₹9,00,000 | 10% |
| ₹9,00,001 – ₹12,00,000 | 15% |
| ₹12,00,001 – ₹15,00,000 | 20% |
| Above ₹15,00,000 | 30% |
Rebate under Section 87A is available for income up to ₹7 lakh.
| Income Range | Tax Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Old regime allows more deductions & exemptions like:
- 80C: Investments (PF, LIC, ELSS, PPF) up to ₹1.5 lakh
- 80D: Medical insurance
- HRA (House Rent Allowance)
- Home Loan Interest
Example: How to Calculate Income Tax in India
Let’s assume Mr. Altaf, a 30-year-old professional, earns ₹12,00,000 annually.
Under Old Tax Regime
- Gross Salary: ₹12,00,000
- Less 80C Investments: ₹1,50,000
- Less 80D (Medical Insurance): ₹25,000
- Net Taxable Income = ₹10,25,000
Tax Calculation:
- 0 – ₹2.5L = Nil
- ₹2.5L – ₹5L = 5% = ₹12,500
- ₹5L – ₹10L = 20% = ₹1,00,000
- ₹10L – ₹10.25L = 30% = ₹7,500
Total Tax = ₹1,20,000 (plus cess)
Under New Tax Regime
- No major deductions allowed
- Tax directly on ₹12,00,000
Tax Calculation:
- 0 – ₹3L = Nil
- ₹3L – ₹6L = 5% = ₹15,000
- ₹6L – ₹9L = 10% = ₹30,000
- ₹9L – ₹12L = 15% = ₹45,000
Total Tax = ₹90,000 (plus cess)
Clearly, Mr. Altaf benefits from the New Regime.
Old Regime vs. New Regime – Which is Better?
This is one of the most common questions:
- “Should I choose the old regime or new regime in India?”
Answer: It depends on your income and investments.
- If you have high investments (PF, ELSS, Insurance, HRA) → Old Regime may save you more.
- If you don’t claim many deductions → New Regime is simpler and better.
- Use our Income Tax Calculator India to compare both regimes instantly.
- Whether you choose the Old Tax Regime or the New Tax Regime.
- Whether you claim deductions such as 80C (PF, ELSS, LIC, PPF), 80D (medical insurance), HRA, home loan interest, etc.
Comparison Table Old Regime vs New Regime
| Feature | Old Regime | New Regime |
| Standard Deduction | yes | Yes (₹50,000) |
| 80C, 80D, HRA | ✅ Allowed | ❌ Not Allowed |
| Tax Slabs | Higher | Lower |
| Best For | Investors & salaried with HRA | People with fewer deductions |
✅ Rule of Thumb:
- If you invest a lot in tax-saving instruments (80C, HRA, insurance, loans) → Old Regime is better.
- If you don’t have many deductions → New Regime is simpler & cheaper.
Lets understand with one more Income Tax Example
How much tax will I pay on ₹10 lakh salary in India?
This is one of the most searched questions by salaried employees in India. The exact tax payable on ₹10 lakh salary depends on two main factors:
- Whether you choose the Old Tax Regime or the New Tax Regime.
- Whether you claim deductions such as 80C (PF, ELSS, LIC, PPF), 80D (medical insurance), HRA, home loan interest, etc.
Example – ₹10 Lakh Salary (FY 2024-25, AY 2025-26):
A) New Regime (default)
- Up to ₹3 lakh = Nil
- ₹3L – ₹6L = 5% = ₹15,000
- ₹6L – ₹9L = 10% = ₹30,000
- ₹9L – ₹10L = 15% = ₹15,000
👉 Total Tax = ₹60,000 + 4% cess = ₹62,400
(No deductions like 80C allowed except NPS additional benefit)
B) Old Regime (with 80C deduction)
- Gross Salary = ₹10,00,000
- Less 80C (Investments like PPF/ELSS/LIC) = ₹1,50,000
- Less 80D (Health Insurance Premium) = ₹25,000
- Net Taxable Income = ₹8,25,000
Tax Calculation:
- 0 – 2.5L = Nil
- 2.5L – 5L = 5% = ₹12,500
- 5L – 8.25L = 20% = ₹65,000
👉 Total Tax = ₹77,500 + 4% cess = ₹80,600
✅ As you can see, for a ₹10 lakh salary, New Regime gives lower tax if you don’t claim big deductions. But if you maximize 80C, HRA, and other deductions, the Old Regime may be more beneficial.
Benefits of Using Online Income Tax Calculator India
- Accuracy – Eliminates manual errors.
- Time-Saving – Instant results in seconds.
- Comparison – Check old vs. new regime easily.
- Tax Planning – Know how much to invest to save maximum tax.
- Free to Use – No cost, no sign-up.
FAQs For Income Tax Calculator India
Q1: How do I calculate income tax on salary in India?
Use the income tax calculator by entering your annual income, deductions, and regime preference. It shows exact tax payable.
Q2: What is the tax on ₹10 lakh salary in India?
Under Old Regime (with deductions): Around ₹62,500 (approx).
Under New Regime: Around ₹54,600 (approx).
Q3: Which is better: Old Regime or New Regime?
If you claim deductions (80C, 80D, HRA) → Old Regime.
If you don’t → New Regime is simpler and cheaper.
Q4: Is income up to ₹7 lakh tax-free in 2025?
Yes, under the New Regime, you get rebate under Section 87A if your income is up to ₹7 lakh.
Q5: Do I need to pay tax on FD interest?
Yes. Interest from Fixed Deposits is taxable under “Income from Other Sources.”
Q6: Can I calculate income tax for freelancers or self-employed?
Yes, the income tax calculator also applies to freelancers, self-employed professionals, and business owners.
Q7: How do I calculate my tax after 80C deductions?
Many taxpayers in India invest in Section 80C schemes like Public Provident Fund (PPF), Equity Linked Savings Scheme (ELSS), Life Insurance Premiums, Employees’ Provident Fund (EPF), and Sukanya Samriddhi Yojana.
The maximum deduction allowed under 80C is ₹1.5 lakh per year.
This deduction is available only under the Old Tax Regime (not in the New Regime).
How to Save Tax in India in 2025-2026(tips)
- Invest in 80C schemes: PPF, ELSS, LIC, PF, Sukanya Samriddhi
- Buy medical insurance (80D)
- Claim HRA (House Rent Allowance) if you live in rented house
- Deduction on Home Loan Interest (Section 24B)
- Education Loan Interest (80E)
- NPS(National pension scheme) – 80CCD(1B)
👉 Smart tax planning can reduce your liability significantly.
Conclusion
An Income Tax Calculator for India is a must-have tool for every taxpayer. It helps you:
- Understand tax liability instantly
- Compare Old vs. New Regime
- Plan your savings and investments wisely
Whether you’re a salaried employee, freelancer, or business owner, using an online income tax calculator makes life simpler.
So before filing your ITR (Income Tax Return), make sure you check your tax liability with an updated Income Tax Calculator 2025.
Start using the Income Tax Calculator India today and plan your finances better!