Income tax in India is a progressive tax levied on individuals and entities based on their annual income. The tax structure includes multiple slabs with increasing rates — the more you earn, the higher percentage you pay on the incremental income. Both the Old Regime with deductions and exemptions, and the New Regime introduced in Budget 2020 with lower rates but fewer deductions, offer different advantages depending on your financial situation and investment patterns.

Our free income tax calculator helps you estimate your tax liability under both the old and new tax regimes. Enter your gross annual income, deductions under sections 80C, 80D, and other applicable sections, and the tool instantly computes your taxable income, tax slab breakdown, cess, and net tax payable. Compare both regimes side by side to choose the one that saves you the most. Plan your investments and deductions strategically with clear, accurate projections.