Income Tax Calculator

Tax Calculation

Category
Estimated Annual Income
Standard Deductions
In Old Regime : 50,000.00   In New Regime : 0.00
Less: Exemptions / Deductions
Tax Payable as
Taxable Income Income Tax Surcharge Education Cess Total
As Per Old Regime 0.00 0.00 0.00 0.00 0.00
Notes

** Surcharge at 10 % of (Income Tax) for income above Rs. 5,000,000 and at 15 % of (Income Tax) for income above Rs. 10,000,000

** Education Cess at 4 % of (Income Tax + Surcharge)

** Any individual opting to be taxed under the new tax regime from FY 2020-21 onwards will have to give up certain exemptions and deductions.


Disclaimer

This calculator is only meant to provide a basic idea of the estimated tax liability.
Refer to the Income Tax Provisions for the actual provisions and eligibility.
For more info check - https://www.incometaxindiaefiling.gov.in/

Tax Rate Slabs

Old Regime - Tax Slabs - Individuals & HUF less than 60 Years Old
Income Tax Slab Tax Rate
Up to Rs. 250,000 Nill
Rs. 250,000 to Rs. 500,000 5% of total income exceeding
Rs. 500,000 to Rs. 1,000,000 Rs. 12,500 + 20% of total income exceeding
Rs. 1,000,000 Above Rs. 112,500 + 30% of total income exceeding
Old Regime - Tax Slabs - Senior Citizens
Income Tax Slab Tax Rate
Up to Rs. 300,000 Nill
Rs. 300,000 to Rs. 500,000 5% of total income exceeding
Rs. 500,000 to Rs. 1,000,000 Rs. 10,000 + 20% of total income exceeding
Rs. 1,000,000 Above Rs. 110,000 + 30% of total income exceeding
Old Regime - Tax Slabs - Super Senior Citizens
Income Tax Slab Tax Rate
Up to Rs. 500,000 Nill
Rs. 500,000 to Rs. 1,000,000 20% of total income exceeding
Rs. 1,000,000 Above Rs. 100,000 + 30% of total income exceeding