Income Tax Calculator – India
Financial Year 2023-24 | Old vs New Regime Comparison
How to Use This Calculator
Step 1: Enter Income Details
Input your basic salary, HRA, special allowance, and other income sources. All amounts should be annual figures.
Step 2: Add Deductions (Old Regime)
Enter deductions like 80C, 80D, HRA exemption, etc. These apply only to the old tax regime.
Step 3: Compare Results
View side-by-side comparison of tax liability under both regimes and choose the most beneficial option.
Important Notes
- • All amounts are in Indian Rupees without currency symbols
- • Calculator is based on FY 2023-24 tax slabs and rates
- • Standard deduction of 50,000 is automatically applied to both regimes
- • Education cess of 4% is included in the final tax calculation
- • This is for estimation purposes only; consult a tax advisor for accurate filing
Income & Deduction Details
Income Sources
Deductions (Old Regime Only)
Tax Calculation Results
Old Regime
Taxable Income:
0
Tax Before Cess:
0
Total Tax:
0
New Regime
Taxable Income:
0
Tax Before Cess:
0
Total Tax:
0
Recommendation
Tax Breakdown Comparison
Enter your income details and click “Calculate Tax” to see results
Tax Slabs Reference (FY 2023-24)
Old Regime
| Income Range | Tax Rate |
|---|---|
| Up to 2,50,000 | 0% |
| 2,50,001 – 5,00,000 | 5% |
| 5,00,001 – 10,00,000 | 20% |
| Above 10,00,000 | 30% |
New Regime
| Income Range | Tax Rate |
|---|---|
| Up to 3,00,000 | 0% |
| 3,00,001 – 6,00,000 | 5% |
| 6,00,001 – 9,00,000 | 10% |
| 9,00,001 – 12,00,000 | 15% |
| 12,00,001 – 15,00,000 | 20% |
| Above 15,00,000 | 30% |
This calculator is for estimation purposes only. Please consult a qualified tax advisor for accurate tax planning and filing.
Financial Year 2023-24 • Assessment Year 2024-25