Plan your taxes with our Income Tax Calculator for India (FY 2023-24). Input your annual income and choose between Old and New Tax Regimes to see your taxable income, tax amount, and slab breakdown – created by Mr. Dhananjoy Ghosh.
What is the Old Tax Regime?
The Old Regime allows deductions (e.g., HRA, 80C) but has higher tax rates. This calculator assumes no deductions for simplicity.
What is the New Tax Regime?
The New Regime (introduced in 2020) has lower tax rates but fewer deductions, made default from FY 2023-24.
How is income tax calculated?
It’s based on income slabs with progressive tax rates. This tool uses FY 2023-24 slabs without deductions.
Why no deductions?
For simplicity, this is a basic calculator. Add your deductions manually to income before inputting for the Old Regime.
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