Income Tax Calculator
GST & Tax
Calculate income tax based on regime
Tax Slabs Reference (FY 2024-25)
Introduction
The Income Tax Calculator is a comprehensive tool that helps Indian taxpayers calculate their income tax liability under both the old and new tax regimes. Simply enter your income details, investments, deductions, and other particulars to get an instant estimate of your tax liability. The tool supports comparison between old and new tax regimes, helping you choose the better option for maximum tax savings. Whether you are planning investments or filing returns, this calculator provides accurate estimates to help you optimize your tax planning.
Key Features
- Old vs New tax regime comparison
- All income sources support (salary, business, property, capital gains)
- Major deductions coverage (80C, 80D, 80E, 24, etc.)
- Standard deduction for salary earners
- Taxable income breakdown display
- Estimated tax liability with marginal relief
How to Use
- 1Enter your gross income from all sources (salary, business, property, etc.)
- 2Select your age group for applicable tax slabs
- 3Choose tax regime - Old or New (tool compares both)
- 4Enter eligible deductions under Section 80C, 80D, etc.
- 5Add house property income and other income
- 6The tool calculates tax under both regimes
- 7View comparison and recommended regime
Benefits and Use Cases
- Compare tax liability under both regimes
- Make informed investment decisions
- Plan taxes before financial year ends
- Estimate monthly tax for better cash flow
- Avoid surprises at tax filing time
- Free and accurate calculations
- Salaried employees planning tax savings
- Business owners estimating advance tax
- Financial advisors creating tax plans
- Individuals comparing regime benefits
- HR departments explaining tax components
Frequently Asked Questions
Old regime has more deductions (80C, 80D, HRA, etc.) but higher tax rates. New regime has lower rates but fewer deductions. Choose based on your investment capacity.