Calculate your income tax liability, tax slabs, and take-home salary. Free online income tax calculator for FY 2024-25.
Calculate your income tax liability, understand tax slabs, and determine your take-home salary. Plan your taxes efficiently with our comprehensive income tax calculator.
Select the tax regime that suits your financial planning
Enter your income details above to see your tax calculation.
Total income minus eligible deductions and exemptions equals your taxable income.
Different portions of your income are taxed at different rates based on tax slabs.
Various deductions under Chapter VI-A help reduce your taxable income and tax liability.
Choose between old regime (with deductions) or new regime (lower rates, no deductions).
This calculator provides general estimates for educational purposes only and should not replace professional tax advice. Tax calculations may vary based on specific circumstances, additional income sources, and applicable exemptions. Tax laws and rates are subject to change. Always consult with a qualified tax professional or chartered accountant for accurate tax calculations and compliance with current tax laws.
Income tax is calculated based on your total taxable income after deducting eligible exemptions and deductions. The tax is computed using progressive tax slabs where different portions of income are taxed at different rates.
For FY 2024-25, the tax slabs are: Up to ₹3 lakhs (0%), ₹3-6 lakhs (5%), ₹6-9 lakhs (10%), ₹9-12 lakhs (15%), ₹12-15 lakhs (20%), and above ₹15 lakhs (30%). Additional cess of 4% applies.
Common deductions include Section 80C (PF, ELSS, etc. up to ₹1.5L), Section 80D (health insurance), Section 80TTA (savings account interest), HRA, LTA, and standard deduction of ₹50,000.