Income Tax Calculator
Calculate your annual tax liability
010,00,00,000
Tax Calculation Results
Gross Income:₹1,000,000
Taxable Income:₹0
Total Tax + Cess:₹0
Net Income:₹0
Effective Tax Rate:0%
Tax Breakdown
Regime Selectednew Regime
Age CategoryBelow 60
Gross Income₹1,000,000
Taxable Income₹0
Tax Payable₹0
Tax Saving Tips
- • Invest in ELSS mutual funds for 80C deduction
- • Buy health insurance for 80D benefits
- • Contribute to PPF and EPF for tax savings
- • Consider NPS for additional deduction under 80CCD(1B)
- • Compare old vs new regime for better tax efficiency
Understanding Income Tax
New vs Old Tax Regime
New Regime: Lower tax rates but limited deductions. Standard deduction of ₹50,000 allowed.
Old Regime: Higher tax rates but allows various deductions under sections 80C, 80D, etc.
Important Deductions
- • 80C: PPF, ELSS, Life Insurance (Max ₹1.5L)
- • 80D: Health Insurance Premium (Max ₹75K)
- • 24: Home Loan Interest (Max ₹2L)
- • 80CCD(1B): NPS Contribution (Max ₹50K)