Income Tax Calculator

Rough rule: if your annual deductions (80C + 80D + HRA + home-loan interest etc.) total ≥ ₹4.5 lakh, the OLD regime usually wins. If you're a salaried person with mostly standard deduction and no big investments, the NEW regime usually wins. This calculator runs both and tells you the better option for your specific numbers.

Salary (basic + DA + HRA + bonuses) + business income + capital gains + interest + rental income + any other income, before any deductions. The calculator then applies the standard deduction (₹50,000 in old regime, ₹75,000 in new regime for FY 2024-25) and any further deductions you enter.

Section 87A gives you a tax rebate (effectively zero tax) if your taxable income is below a threshold. New regime: income up to ₹7 lakh → no tax. Old regime: income up to ₹5 lakh → no tax. The rebate is the actual tax liability up to that threshold; income one rupee over the threshold makes the full tax payable. This calculator handles the cliff.

Yes — for income above ₹50 lakh: 10% surcharge; ₹1-2 cr: 15%; ₹2-5 cr: 25%; above ₹5 cr: 37% (capped at 25% under new regime). Plus 4% Health and Education Cess on (tax + surcharge). All applied automatically.

Enter total deductions in the field provided. The old regime applies them; the new regime ignores them (except standard deduction). For HRA specifically, use our HRA Calculator to compute the exempt portion first, then deduct from gross.