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Income Tax Calculator
Instantly Estimate Your Tax Liability
Get Instant Income Tax Estimates Based on the Latest Tax Slabs.
Get Instant Income Tax Estimates Based on the Latest Tax Slabs.
Income Tax Calculator
Gross Income ₹0
Total Deductions ₹0
Taxable Income ₹0
Tax Before Cess ₹0
Rebate u/s 87A ₹0
Health & Education Cess (4%) ₹0
Total Tax Payable ₹0
Monthly TDS ₹0
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What is an Income Tax Calculator?
An Income Tax Calculator is a simple and reliable tool for estimating the tax payable based on your annual income, deductions, exemptions, and the applicable tax regime. It helps you calculate your taxes accurately, avoid manual errors, and make better financial decisions. You can also use it to compare your tax liability under the Old and New Tax Regimes to choose the most suitable option.
How to calculate income tax?
Steps to calculate income tax:- Calculate Your Gross Annual Income by adding income from all sources, including salary, house property, business/profession, capital gains, and other income.
- Choose the Tax Regime (Old or New) based on your eligibility and tax-saving preferences.
- Claim Eligible Deductions and Exemptions (if opting for the Old Tax Regime) to determine your taxable income.
- Calculate Your Taxable Income after subtracting eligible deductions and exemptions from your gross annual income.
- Apply the Applicable Income Tax Slab Rates to calculate your tax liability.
- Add Health, Education and Other Applicable Charges, if available.
Latest New Tax Regime Income Tax Slabs for AY 2026-27
| Annual Taxable Income | Income Tax Rate |
|---|---|
| Up to ₹4,00,000 | Nil |
| ₹4,00,001 – ₹8,00,000 | 5% |
| ₹8,00,001 – ₹12,00,000 | 10% |
| ₹12,00,001 – ₹16,00,000 | 15% |
| ₹16,00,001 – ₹20,00,000 | 20% |
| ₹20,00,001 – ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
Note: A rebate under Section 87A may be available to eligible resident individuals under the New Tax Regime, subject to the provisions applicable for FY 2025-26 (AY 2026-27).
Benefits of using Savvy HRMS's
of using Savvy HRMS's
Income Tax Calculator
Accurate Tax Estimation
Compare Old & New Tax Regimes
Fast and Easy to Use
Better Tax Planning
Key Factors Considered by the Savvy HRMS
Income Tax Calculator
- Annual Gross Income: Calculates tax based on your total income from salary and other eligible sources.
- Selected Tax Regime: Computes tax according to the Old or New Tax Regime chosen by you.
- Eligible Deductions: Considers applicable deductions and exemptions to determine your taxable income.
- Income Tax Slabs: Applies the latest income tax slab rates for the selected financial year.
- Section 87A Rebate: Automatically factors in the applicable rebate for eligible taxpayers.
- Health & Education Cess: Automatically adds the applicable 4% Health & Education Cess to your total tax liability.
- Surcharge (If Applicable): Calculates surcharge for individuals whose income exceeds the prescribed thresholds.
- Standard Deduction: Accounts for the standard deduction wherever applicable under the selected tax regime.
Frequently Asked Questions
To calculate your income tax, determine your annual taxable income after deducting eligible exemptions and deductions (where applicable), select the applicable tax regime, and apply the relevant income tax slab rates. An Income Tax Calculator automates this process for accurate results.
Yes. Most Income Tax Calculators allow you to compare your estimated tax liability under both the Old and New Tax Regimes, helping you choose the one that offers the greatest tax benefit.
Yes, an Income Tax Calculator provides accurate estimates when you enter the correct income and deduction details. However, the final tax payable may vary based on additional income, tax credits, or changes in tax laws.
Anyone, including salaried employees, self-employed professionals, freelancers, business owners, and pensioners, can use an Income Tax Calculator to estimate their income tax liability.
Yes, most online Income Tax Calculators are completely free to use and can be accessed multiple times to estimate your tax liability under different scenarios.
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