Income Tax Calculator

Assessee Name

Financial Year

Tax Payer

Gender Male Female

Age

Tax Regime: Old Regime New Regime

Statement of Income and Tax

Salary (after standard deduction)

Income from House Property

Business Income

Capital Gains

Short Term

Long Term

Income from Other Sources

Interest, Dividend etc.

Winning from Lotteries (30%)

Deduction under Chapter VIA

Deduction u/s 80C, 80CCC, 80CCD

Deduction u/s 80D (Mediclaim)

Deduction u/s 80TTA

Other Deductions

Detail of Tax Paid

Tax Deducted at Source (TDS)

Advance tax paid

Understanding Your Income Tax Calculation (FY 2024-25)

This calculator helps you estimate your tax liability for the Financial Year 2024-25 (Assessment Year 2025-26). It allows you to compare your tax outgo under both the Old and New Tax Regimes, helping you make an informed decision.

Old vs. New Tax Regime: Key Differences

Old Tax Regime: Allows you to claim various deductions and exemptions like HRA, LTA, and those under Section 80C (PF, PPF, Life Insurance), 80D (Health Insurance), etc. The tax slabs have higher rates.
New Tax Regime: Offers lower tax slab rates but requires you to forgo most of the common deductions and exemptions. The Standard Deduction of Rs. 50,000 from salary is available in both regimes.