Income Tax Calculator
| Tax Bracket | Tax Rate | Tax Amount |
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What is Income Tax?
Income Tax is a direct tax levied by the government on the income of individuals and businesses. It plays a vital role in funding public services like education, healthcare, and infrastructure.
In India, income tax is governed by the Income Tax Act, 1961, and administered by the Central Board of Direct Taxes (CBDT). Taxpayers are categorized under different regimes such as the old and new tax slabs introduced in Budget 2020.
📌 Tax Slabs FY 2024–25 (New Regime):
- ₹0 – ₹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%
Use our calculator to estimate your annual tax liability based on these slabs. You can also compare how deductions affect your taxable income.