Income Tax Calculator
Calculate your income tax for FY 2023-24 (AY 2024-25)
Tax Calculation
You would save ₹33,800 if you switch to the Old Regime.
Taxable Income
₹1200000
After deductions and exemptions.
Total Tax
₹93600
Includes surcharge and cess.
Net Income
₹1106400
Take-home after total tax.
Effective Tax Rate
7.8%
Tax as % of gross income.
Income Breakdown
Tax Distribution
Tax Slab Breakdown
| Income Slab | Tax Rate | Taxable Amount | Tax |
|---|---|---|---|
| ₹3,00,000 - ₹6,00,000 | 5% | ₹300000 | ₹15000 |
| ₹6,00,000 - ₹9,00,000 | 10% | ₹300000 | ₹30000 |
| ₹9,00,000 - ₹12,00,000 | 15% | ₹300000 | ₹45000 |
| Section 87A Rebate | N/A | ₹90000 | -₹0 |
| Surcharge | Tiered | ₹90000 | ₹0 |
| Health & Education Cess (4%) | 4% | ₹90000 | ₹3600 |
Regime Comparison
| Metric | New (Current) | Old (Alternate) |
|---|---|---|
| Total Deductions | ₹0 | ₹475000 |
| Taxable Income | ₹1200000 | ₹725000 |
| Total Tax | ₹93600 | ₹59800 |
| Net Income | ₹1106400 | ₹1140200 |
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