Income Tax Calculation in India
Disclaimer: This calculator is for informational purposes only and does not constitute professional tax advice. Consult a qualified tax advisor for personalized guidance.
Note: The information provided below is for general understanding only. Tax laws are subject to change. Always consult official government sources and a qualified tax advisor for the most up-to-date and accurate information.
This is a simplified calculator for Indian Income Tax. Key sources of income are:
- Income from Salary
- Income from House Property
- Income from Capital Gains
- Income from Business/Profession
- Income from Other Sources
Deductions under sections like 80C, 80D and 80TTA and other like as under help to reduce your tax liability under the Old Regime.
- Section 80C: Investments in schemes like PPF, ELSS, NSC, etc. (Max ₹1,50,000)
- Section 80D: Medical insurance premium paid for self, family, or parents.
- Section 80EEA: Interest paid on affordable housing loan.
- Section 80CCD(2): Employer's contribution to NPS - 80CCD(2).
- Section 80TTA: Interest earned on savings account deposits (up to ₹10,000).
- Section 80G: Donations to registered charitable organizations.
- Section 80CCD: Employee’s contribution to NPS (National Pension System)
Recommended Tax Regime: New Tax Regime for potentially lower tax rates and a simplified process. However, carefully evaluate both regimes based on your individual circumstances and available deductions.
Key Links (official websites):