About this income tax calculator
Income tax is levied on your annual income after applying the relevant slabs and deductions. India offers two regimes: the old one with deductions and exemptions, and the new one with lower rates but fewer deductions.
This calculator computes tax under both regimes using the FY 2024-25 slabs. For the old regime it applies the 80C deduction you enter. It shows the tax, cess, total tax and net income for the regime you select.
The new regime is the default and usually suits those with few deductions. The old regime can be better if you have large deductions. Compare both and pick the one with the lower tax.
Use it for planning and estimating your advance tax. Always verify with the latest official slabs and consult a tax professional for your situation, as surcharges and special provisions are not covered here.