Income Tax Calculator (India)
Income Tax Calculator – Calculate Your Tax Liability for FY 2024-25
Paying taxes is a responsibility every earning individual and business must follow. However, understanding how much tax you owe can often be confusing. That’s where an Income Tax Calculator comes in handy. This tool helps you estimate your annual tax liability in just a few clicks—whether you’re a salaried employee, freelancer, or business owner.
Our Income Tax Calculator is updated for FY 2024-25 and covers both the old and new tax regimes as per Indian Income Tax rules.
What is an Income Tax Calculator?
An income tax calculator is a simple tool that calculates your total tax liability based on your annual income, deductions, exemptions, and applicable tax slabs. It helps taxpayers plan better and avoid surprises during filing.
Instead of manually referring to tax slabs and complex deductions, this calculator provides quick and accurate tax calculations based on the latest tax rules from the Government of India.
🧠 Key Features of Our Online Income Tax Calculator
✅ Easy-to-use interface
✅ Covers both Old and New Regimes
✅ Supports salaried, professionals, and business income
✅ Updated for FY 2024-25
✅ Auto calculation of standard deductions and rebates
✅ Completely Free and Ad-Free
🏛️ How Does the Income Tax Calculator Work?
Just enter the following details:
Your annual income
HRA, LTA, and other exemptions (if any)
80C deductions (PF, LIC, ELSS etc.)
Standard Deduction (auto-applied for salaried)
Select Old Regime or New Regime
Once you fill in the inputs, the tool instantly calculates:
Taxable Income
Total Tax Payable
Tax Payable under both regimes (if applicable)
Suggestion on which regime may be better for you
💡 Why Should You Use an Online Tax Calculator?
Using an income tax calculator before the end of the financial year can help you:
Plan your investments smartly
You can increase your 80C deductions to reduce tax burden.Avoid last-minute confusion
Know how much TDS or advance tax you should pay.Compare Old vs New Tax Regime
You can see which regime gives you better savings based on your deductions.Stay compliant and accurate
Avoid errors and penalties by having a correct tax estimate.
👨💼 Who Should Use This Tax Calculator?
This tool is ideal for:
Salaried Employees – Calculate tax with/without deductions
Freelancers or Consultants – Estimate income and tax payable
Business Owners – Get a rough idea of net taxable income
Retired Individuals – Calculate tax on pension and other income
📘 Example: How Much Tax Will You Pay in FY 2024-25?
Let’s say you earn ₹10,00,000 annually, and invest ₹1.5 lakhs under 80C. You also claim ₹50,000 under Section 80D for health insurance.
Under Old Regime:
Gross Income = ₹10,00,000
Less 80C = ₹1,50,000
Less 80D = ₹50,000
Less Standard Deduction = ₹50,000
Taxable Income = ₹7,50,000
Tax Payable = approx ₹52,500
Under New Regime:
No deductions allowed
Taxable Income = ₹10,00,000
Tax Payable = approx ₹75,000
So, the Old Regime saves you ₹22,500 more in this case.
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❓FAQs on Income Tax Calculator
Q1. Is this income tax calculator accurate?
Yes, it is based on the official income tax slabs provided by the Government of India for FY 2024-25. However, it’s for estimation purposes only. Final tax payable depends on actual filing.
Q2. Does it cover both Old and New tax regimes?
Yes. You can switch between both regimes and compare your tax liability to see which one benefits you more.
Q3. Can I use this tool if I am self-employed?
Absolutely! Just enter your total annual income under “gross income” and proceed with relevant deductions if applicable.
Q4. What are the key tax deductions I can claim?
You can claim deductions under Section 80C (PF, LIC, ELSS), 80D (Medical Insurance), 80G (Donations), 80E (Education Loan), and many more depending on your profile.
Q5. Is it necessary to register to use this tool?
No. The calculator is 100% free and requires no login or email to access.