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
Deductions (Old Regime Only)
Max ₹1.5L
Up to ₹25k/50k
📘 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.