ToolsCafe.net

Income Tax Calculator

Calculate your income tax under both the New and Old tax regimes for India. Compare tax liability and find the regime that saves you more.

How to Use

  1. 1

    Enter your annual income.

  2. 2

    Switch between New Regime and Old Regime tabs.

  3. 3

    For Old Regime, enter deductions under 80C and HRA.

  4. 4

    View the detailed tax breakdown and effective rate.

  5. 5

    Compare both regimes to choose the better option.

Frequently Asked Questions

About Income Tax Calculator

What is Income Tax Calculator?

The Income Tax Calculator computes your tax liability under both the New Regime and Old Regime for the current financial year. Enter your annual income and applicable deductions to instantly see the tax amount, cess, total tax payable, and effective tax rate under each regime.

Why Use Income Tax Calculator?

Choosing between the old and new tax regimes is a crucial financial decision. This calculator lets you compare both side by side so you can pick the one that results in lower tax. It is especially useful during tax planning season when you need to decide on investments and deductions.

How to Use

Enter your annual income. For the Old Regime tab, also enter your Section 80C deductions and HRA. The calculator shows a detailed tax breakdown including the tax slab calculation, cess, and effective tax rate. A pie chart shows tax vs take-home income.

Example Usage

For an annual income of ₹12,00,000 with ₹1,50,000 in 80C deductions and ₹1,00,000 HRA: the New Regime tax is approximately ₹83,200 while the Old Regime tax is approximately ₹87,360. In this case, the New Regime saves you more.

Benefits

Compare both tax regimes instantly. Visualize tax vs take-home with pie charts. Plan deductions and investments to minimize your tax liability.

Related Tools