Income Tax Calculator
Income Tax: ₹—
Cess (4%): ₹—
Take Home Income: ₹—
Frequently Asked Questions
Which tax regime is better: Old or New?
The better tax regime depends on your income and deductions. If you claim deductions like 80C, 80D and HRA, the Old Regime may be beneficial. Otherwise, the New Regime usually results in lower tax.
Is income up to ₹7 lakh tax-free?
Yes. Under the New Tax Regime, income up to ₹7 lakh is tax-free due to rebate under Section 87A.
Does this calculator include standard deduction?
Yes. For the Old Tax Regime, a standard deduction of ₹50,000 is applied automatically.
Is health and education cess included?
Yes. A 4% health and education cess is added to the calculated income tax.