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About the Income Tax Calculator
This Income Tax Calculator computes your annual tax liability under both the old and new Indian tax regimes. You enter your income details and it returns total tax payable, applicable deductions, and net income after tax for each regime side by side.
The tool applies the official slab rates published for each regime, using marginal rates across income slabs. It starts with your gross annual income, subtracts the standard deduction and eligible exemptions such as HRA, Section 80C, and 80D investments, then taxes the remaining amount slab by slab. The calculator adds a 4% health and education cess to the final figure. Compare both regimes before filing, since the better option depends on your total deductions; consider a tax professional for complex income cases.
- Enter your gross annual income and select your age group.
- Add deductions and exemptions such as 80C, 80D, and HRA.
- View the tax, net income, and regime comparison in the results.