š° Personal Finance & Loans
Tax Calculator
Progressive tax estimate using simple custom slabs.
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Progressive tax estimate using simple custom slabs. This dedicated page is built for fast, clean calculations and search visibility.
Enter your values, click calculate, and see the result instantly. The page uses a simple, focused layout to improve usability on mobile and desktop.
How to use this calculator
- Open the tax calculator page.
- Enter the required values in the form fields.
- Click Calculate to see the result and breakdown.
- Use the related links to explore similar tools.
Results are estimates. For lending, taxes, trading, nutrition, or medical decisions, verify with a qualified professional.
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Indian income tax regimes for FY 2024-25
India operates two parallel tax regimes. The New Tax Regime (default from FY 2023-24) offers lower rates with minimal deductions: 0% up to ā¹3 lakh, 5% (ā¹3ā7L), 10% (ā¹7ā10L), 15% (ā¹10ā12L), 20% (ā¹12ā15L), 30% above ā¹15 lakh. A ā¹75,000 standard deduction applies for salaried individuals.
The Old Tax Regime has higher slab rates but allows deductions under 80C (ā¹1.5 lakh), 80D (health insurance), HRA, home loan interest (ā¹2 lakh), and more. For those with substantial deductions, the old regime often yields lower tax.
New vs. old regime ā which to choose
- If your total deductions exceed ā¹3.75 lakh, the old regime is typically better for incomes above ā¹15 lakh.
- For incomes up to ā¹7 lakh, the new regime effectively has zero tax liability due to the rebate under Section 87A.
- Self-employed and business owners often benefit more from the new regime unless they have significant investment-linked deductions.
Income above ā¹50 lakh attracts surcharge: 10% on tax for ā¹50Lāā¹1 crore, 15% for ā¹1ā2 crore, 25% for ā¹2ā5 crore. Health and Education cess of 4% applies on (tax + surcharge) for all taxpayers.
Frequently asked questions
Which tax regime is better ā new or old?ā¼
It depends on your deduction profile. If all your deductions (80C investments, health insurance, HRA, home loan interest) total more than ā¹3.75 lakh annually, the old regime is likely better for incomes above ā¹15 lakh. Below ā¹7.5 lakh income with standard deduction, the new regime gives zero tax via 87A rebate ā usually the better choice.
What is Section 87A rebate and who qualifies?ā¼
Section 87A provides a full tax rebate for individuals with taxable income up to ā¹7 lakh under the new regime (ā¹5 lakh under the old regime). This means if your taxable income after deductions is ā¹7 lakh or less under the new regime, your final tax liability is zero.
How is capital gains from equity taxed in India?ā¼
Short-term capital gains (STCG) on listed equity held less than 12 months: 20% (raised from 15% in Budget 2024). Long-term capital gains (LTCG) on listed equity held over 12 months: 12.5% on gains above ā¹1.25 lakh. Debt fund gains (regardless of holding period) are taxed at slab rates since April 2023.
Is TDS deducted on salary automatically correct?ā¼
Not always. TDS is calculated based on the regime you declare to your employer and projected annual income at year start. If your income changes mid-year, or you have other income sources (rental, interest, freelance), TDS may be insufficient. Always reconcile Form 26AS with your actual liability before the ITR filing deadline.