Income Tax Calculator India
Compare your tax liability under the New and Old Tax Regimes and find the most tax-efficient option.
Income Tax Estimator
Progressive tax estimate based on standard brackets. Adjust inputs to match your country's rates.
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$0$500,000
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$0$50,000
Reference Tax Brackets
| Income Up To | Tax Rate |
|---|---|
| $10,000 | 0% |
| $40,000 | 12% |
| $80,000 | 20% |
| $180,000 | 24% |
| Above | 30% |
Note: Brackets are illustrative. Update them to match your country's tax law.
Tax Summary
Gross Income$60,000
Taxable Income$47,500
Estimated Tax$5,100
Effective Rate8.5%
After-Tax Income$54,900
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New Tax Regime Slabs (Default Regime)
| Income Slab (₹) | Tax Rate | Key Highlights |
|---|---|---|
| ₹0 to ₹3,00,000 | NIL | Zero tax baseline threshold |
| ₹3,00,001 to ₹7,00,000 | 5% | Full rebate under Section 87A up to ₹7 lakh |
| ₹7,00,001 to ₹10,00,000 | 10% | Standard deduction of ₹75,000 applied |
| ₹10,00,001 to ₹12,00,000 | 15% | Lower progression compared to old slabs |
| ₹12,00,001 to ₹15,00,000 | 20% | Competitive tax rate for middle income |
| Above ₹15,00,000 | 30% | Highest slab rate (+ 4% Health & Education Cess) |
Frequently Asked Questions
Can I switch between Old and New Tax Regimes every year?
Salaried individuals without business income can choose between the Old and New Tax Regimes every financial year when filing their Income Tax Return (ITR). Individuals with business or professional income can switch only once in their lifetime.
What is the Section 87A tax rebate?
Section 87A provides a full tax rebate if your taxable income does not exceed ₹7,00,000 under the New Tax Regime (or ₹5,00,000 under the Old Regime), effectively resulting in zero tax liability.