Calculate your income tax based on the latest Indian tax slabs.
Total Income: ₹
Tax Regime:
Our free Income Tax Calculator helps you estimate the amount of tax you need to pay based on your annual income and the latest Indian tax slabs. Follow these simple steps to calculate your tax instantly.
| Income Range | Tax Rate |
|---|---|
| Up to ₹3,00,000 | 0% |
| ₹3L – ₹7L | 5% |
| ₹7L – ₹10L | 10% |
| ₹10L – ₹12L | 15% |
| ₹12L – ₹15L | 20% |
| Above ₹15L | 30% |
Income tax in India is calculated using a progressive tax system. This means different portions of your income are taxed at different rates depending on the tax slab.
Taxable Income = Total Income − Deductions
Once the taxable income is calculated, the applicable slab rates are applied to determine the tax payable.
Total Tax = Income Tax + 4% Health & Education Cess
| Feature | New Tax Regime | Old Tax Regime |
|---|---|---|
| Tax Rates | Lower rates | Higher rates |
| Deductions | Limited deductions | Multiple deductions allowed |
| Standard Deduction | ₹75,000 | ₹50,000 |
| Best For | Salaried people with fewer deductions | People claiming many deductions |
| Annual Income | Tax Regime | Tax Payable |
|---|---|---|
| ₹5,00,000 | New Regime | ₹0 (Rebate under Section 87A) |
| ₹8,00,000 | New Regime | ₹25,000 approx |
| ₹12,00,000 | Old Regime | ₹1,12,500 approx |
Income tax is a mandatory tax imposed by the Government of India on individuals and businesses based on their earnings. Understanding how much tax you need to pay can sometimes be confusing because different tax slabs and rules apply depending on the tax regime you choose.
Our Income Tax Calculator simplifies this process by automatically calculating the tax payable based on the latest tax rules. It supports both the old and new tax regimes, allowing you to compare which option works best for your financial situation.
Whether you are a salaried employee, freelancer, or business owner, this calculator can help you estimate your tax liability quickly and accurately. The tool uses the latest slab rates and includes the mandatory health and education cess to provide accurate results.
You can also explore other financial calculators available on QuickToolsUltra such as the GST Calculator, Discount Calculator, and Percentage Calculator.