Income Tax Calculator

Calculate your income tax under old and new regimes.

Enter Annual Income (₹):

Common Tax Deductions (Old Regime)

💡 Section 80C: ₹1.5L deduction for LIC, PPF, ELSS, home loan principal
🩺 Section 80D: ₹25,000 – ₹1L for health insurance premium
🏠 HRA: House Rent Allowance based on city and salary split
🏫 Education Loan: Interest payment deduction under Section 80E

If your eligible deductions are significant, the old regime may save you more tax than the new one.

Understanding Income Tax in India

Income tax in India is calculated annually based on an individual’s income from all sources like salary, business, investments, etc. The government offers two tax regimes:

Old Regime: Higher tax slabs but allows multiple deductions (like 80C, HRA, LTA, etc.)
New Regime: Lower tax slabs with no or minimal deductions

This calculator helps you estimate your tax liability under the old regime. Always consult a financial advisor for accurate filing.

How Income Tax Works in India

The Indian income tax system allows taxpayers to choose between two regimes:

Old Regime: Suitable if you claim deductions like HRA, 80C, 80D, LTA, and home loan interest. It follows traditional tax slabs but allows for exemptions.
New Regime: Offers lower tax rates but does not allow most exemptions and deductions. It’s ideal for those with fewer investments or simpler salary structures.

Choosing the right regime depends on your income structure and eligibility for deductions. Our upcoming calculator will help you decide the better option based on your actual inputs.

Disclaimer

This Tax Calculator is intended for general informational and estimation purposes only. The tax computed is based on the assumptions under the Old Tax Regime and may not reflect your actual tax liability.

SwiftCalcHub does not guarantee accuracy or completeness of the results. Factors such as exemptions, rebates, deductions, and other income sources are not considered in this simplified version.