Income Tax Calculator
Calculate your income tax based on Indian tax laws (FY 2024-25)
Income Details
₹
Below 60 years
Total Tax Payable
₹1,35,200
Effective Tax Rate: 9.01%
Monthly In-Hand
₹1,13,733
Annual In-Hand
₹13,64,800
Tax Calculation
Gross Annual Income₹15,00,000
Standard Deduction-₹50,000
Taxable Income₹14,50,000
Tax Before Rebate₹1,30,000
Tax After Rebate₹1,30,000
Health & Education Cess (4%)₹5,200
Total Tax₹1,35,200
Tax Slab Breakdown (New Regime)
0-3 Lakhs0%
Income: ₹3,00,000Tax: ₹0
3-7 Lakhs5%
Income: ₹4,00,000Tax: ₹20,000
7-10 Lakhs10%
Income: ₹3,00,000Tax: ₹30,000
10-12 Lakhs15%
Income: ₹2,00,000Tax: ₹30,000
12-15 Lakhs20%
Income: ₹2,50,000Tax: ₹50,000
Income Distribution
In-Hand Salary91.0%
₹13,64,800
Total Tax9.0%
₹1,35,200
📋 New vs Old Regime
The new regime offers lower tax rates but doesn't allow most deductions. The old regime has higher rates but allows deductions under sections 80C, 80D, home loan interest, etc. Choose based on your investments.
💰 Section 87A Rebate
Under the new regime, if your taxable income is up to ₹7 lakhs, you get a rebate of up to ₹25,000. In the old regime, it's ₹12,500 for income up to ₹5 lakhs.
🎯 Tax Planning Tips
Maximize deductions with EPF, PPF, ELSS, NPS, health insurance, and home loan. Consider switching regimes annually based on your deductions. Plan before the financial year ends.