An income tax calculator is an online financial tool that helps Indian taxpayers estimate their total income tax liability for a financial year — based on inputs of gross income from all sources (salary, business income, capital gains, interest income, rental income), applicable deductions (Section 80C investments, 80D health insurance, HRA, home loan interest), and the choice between the old tax regime (with deductions) and the new tax regime (lower rates, fewer deductions). The calculator applies the applicable income tax slab rates and surcharges for the assessment year, computes the total tax payable, and shows the potential tax saving from maximising eligible deductions under the old regime. In India, taxpayers must choose between the old and new tax regimes annually — the income tax calculator helps make this comparison precise by showing the tax liability under both regimes simultaneously. For investors, the calculator is particularly useful for estimating advance tax obligations (payable in quarterly instalments if tax liability exceeds ₹10,000 per year), computing capital gains tax on equity and debt instrument sales, and planning tax-saving investments before the March 31 financial year end deadline to maximise Section 80C and other deductions.
For android only
