Income Tax Calculator under old and New Regime

(1) Calculate Tax & FY 2022-23 (AY 2023-24)

(2) Click to Calculate Tax FY 2023-24 (AY 2024-25) as Proposed In Budget dt. 01.02.23

Calculates online Income Tax after the benefit of standard deduction of Rs. 50000/- and eligible deductions (under old Regime) and without Exemptions (under New Regime) of tax rates / slabs)

Income Tax Rates / Slabs FY 19-20, FY 18-19, FY 2017-18 & FY 2016-17

Change / Select Calculator
Calculate Income Tax for FY 2022-23 / Tax Impact in FY 2022-23 compare to FY 2021-22 (As per Budget dt. 01-02-22)
Calculate Income Tax for FY 2021-22

NPS - 1↦ Features / Taxability & Tax Treatment on withdrawal 2↦ Partial Withdrawal Norms

Step 1 - Select Age & Enter Details ↓ ↑

1	Select Age (from Drop Down)

2	Income From Salary / Pension

3	Exemptions & Deductions from Salary (u/s 10)

4	Income from Other Sources

5	Interest Paid on Home Loan (self Occupied)

6	Income from House Property (Of not self Occupied)

6 (a)	Rent Received or Receivable or Annual Lettable Value

6 (b)	Taxes paid to Local Authorities

6 (c)	Annual Value of Property

6 (d)	Standard Deduction 30% of 6(c)

6 (e)	Interest Paid on Home Loan (rented/let out property) (Max Rs. 2.00 Lac)

6 (f)	Income / Loss (-ve) from House Property

Next - step 2 Enter Eligible Deductions / Click button "Calculate Tax"

Step 2 (Enter Eligible Deductions)↓ ↑

7	Deduction u/s 80C, 80CCC (max. Rs. 1.50 Lac)

8	Interest from SB u/s 80TTA

9	Medical Insurance u/s 80D
	Self / Spouse / D.Children (max. Rs. 25000/-)(Max. limit Rs 50,000/-) For Parents Below 60 (No Change Max. Rs. 25000/-)
	For Parents Above 60 (Max. Rs. 50,000/-)
	Less: Section 80DDB (Max. limit Rs 1 lac) Less: Section 80DDB (Max Rs. 1 lac)
10	Additional contribution to NPS - u/s 80CCD (max 50000)

11	Serving of Intt.on Education Loan (u/s 80E)

12	Deductionn under Section 80EE Interest on loan for acquiring residential house property, sanctioned during FY 2016-17 (Max Rs. 50000)

13	Deduction under Section 80EEA Interest on loan for acquiring residential house property, sanctioned during FY 2019-20 (Max Rs. 150000)

14	Deduction under Section 80EEB Interest Deduction in respect of purchase of electric vehicle, during FY 2019-20 to 2022-23 (Max Rs. 150000)

Next - step 3 Click button "Show Tax Calculations FY 2022-23" your Tax calculations are displayed here

Show Tax Calculation FY 2022-23↓ ↑

	Old Regime	New Regime
Gross Taxable Income
Standard Deduction
Total of Deductions
Net Taxable Income
Less: Relief u/s 87A (For Individuals having taxable income upto Rs. 5.00 lacs)
Income Tax
Health and Education Cess
Total Tax Liability

Disclaimer : This website do not claim that tax calculation is correct. The users are requested to please do inform in case he/she has noticed any error in calculation.

Modified : 01.02.2023