Income Tax Calculator (India)
Use this income tax calculator to compare your tax liability under the New Tax Regime and Old Tax Regime in India.
How Income Tax is Calculated?
Income tax is calculated based on slab rates defined by the Government of India. Under the Old Regime, deductions like Section 80C are allowed. Under the New Regime, lower slab rates apply but most deductions are not allowed.
Frequently Asked Questions
Which tax regime is better?
It depends on your deductions. High deductions favor Old Regime, otherwise New Regime may be better.
Is standard deduction available?
Yes, standard deduction of ₹50,000 is available under Old Regime.
Does this include cess?
Yes, 4% health and education cess is included.
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