Authority: Income Tax Department (Finance Act Provisions)
Default Regime: Section 115BAC (New Tax Regime) with ₹75,000 standard deduction and ₹7,00,000 Section 87A rebate threshold.
Income Tax e-Filing PortalIncome Tax Calculator
Compare tax liability under New Tax Regime vs Old Tax Regime with current official tax slabs, standard deductions, and Sec 87A rebate.
₹3L₹12,00,000/yr₹50L
Old Regime Deductions (Optional for Comparison)
Section 80C (PPF, EPF, ELSS, Life Insurance — Max ₹1.5L)₹1,50,000
Section 80D (Health Insurance Premium)₹25,000
HRA Exemption / Home Loan Interest (Sec 24b)₹50,000
New Regime (Default) Save ₹29,900
₹71,500
Gross Income:₹12,00,000
Std Deduction:-₹75,000
Taxable Income:₹11,25,000
Cess (4%):₹2,750
Old Regime
₹1,01,400
Gross Income:₹12,00,000
Total Deductions:-₹2,75,000
Taxable Income:₹9,25,000
Cess (4%):₹3,900
New Tax Regime Slabs (Section 115BAC)
Up to ₹3,00,000Nil
₹3,00,001 to ₹7,00,0005% (Full Sec 87A rebate up to ₹7L)
₹7,00,001 to ₹10,00,00010%
₹10,00,001 to ₹12,00,00015%
₹12,00,001 to ₹15,00,00020%
Above ₹15,00,00030%
Tax Note: This calculator computes indicative income tax based on statutory slabs of the Income Tax Act for individual salaried taxpayers under 60 years of age. Surcharge applies for taxable income exceeding ₹50 lakhs. For final tax filing and complex capital gains or business incomes, consult a Chartered Accountant or use the official Income Tax e-Filing portal.