What is the New Tax Regime?

The New Tax Regime (default from FY 2023-24) offers lower tax rates but removes most exemptions like HRA, LTA, and Section 80C. It includes a standard deduction of ₹50,000 for salaried individuals.

What is the Old Tax Regime?

The Old Tax Regime has higher tax slab rates but allows you to claim various exemptions and deductions (like 80C up to ₹1.5 Lakh, 80D, HRA, etc.) to reduce your taxable income.

Is Health & Education Cess included?

Yes, a 4% Health and Education Cess is calculated on the total income tax amount and added to your final tax liability.

🇮🇳 Income Tax Calculator

Estimate your Indian income tax liability (Old vs New Regime)

FY 2023-24 / 2024-25 Estimates

Income Details

Annual Salary

₹

Other Income (Interest, etc.)

₹

Deductions & Exemptions

N/A in New Regime

Sec 80C (EPF, PPF, LIC, ELSS - Max 1.5L)

₹

Sec 80D (Health Ins.)

₹

HRA Exemption

₹

Gross Income₹0

Total Deductions (incl. ₹50k Std. Ded)-₹0

Taxable Income₹0

Base Tax₹0

Health & Ed. Cess (4%)+₹0

Total Tax Payable

Rebate u/s 87A

₹0

Disclaimer: This tool provides a simplified estimate using generalized tax brackets. Please consult a CA for accurate tax liability.

🇮🇳 Income Tax Calculator

Income Details

Deductions & Exemptions

❓ Frequently Asked Questions

🔗 More Tools

🇮🇳 Income Tax Calculator

Income Details

Deductions & Exemptions

❓ Frequently Asked Questions

🔗 More Tools