Calculate your income tax liability and plan your tax savings
₹8,20,000
₹5,95,000
₹33,800
| Income Slab | Tax Rate | Income in Slab | Tax Amount |
|---|
₹30,940
With deductions & exemptions
₹46,800
With lower tax rates
₹15,860
Old Regime is better for you
Income tax is a direct tax levied by the government on the income earned by individuals and entities. Our Income Tax Calculator helps you calculate:
In Budget 2020, the government introduced a new tax regime with lower tax rates but fewer deductions and exemptions. You can choose between:
Advantages: Multiple deductions and exemptions available (80C, 80D, HRA, etc.)
Disadvantages: Higher tax rates
Best for: Individuals with significant investments and home loans
Advantages: Lower tax rates and simplified tax structure
Disadvantages: Most deductions and exemptions not available
Best for: Individuals with limited investments or those who don't claim many deductions
| Income Slab | Tax Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 to ₹5,00,000 | 5% |
| ₹5,00,001 to ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
| Income Slab | Tax Rate |
|---|---|
| Up to ₹3,00,000 | Nil |
| ₹3,00,001 to ₹6,00,000 | 5% |
| ₹6,00,001 to ₹9,00,000 | 10% |
| ₹9,00,001 to ₹12,00,000 | 15% |
| ₹12,00,001 to ₹15,00,000 | 20% |
| Above ₹15,00,000 | 30% |