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Income Tax Calculator AY 2023-24 & AY 2024-25
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Financial Year
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FY 2022-23 (AY 2023-24)
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Your Age
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0 to 60 Years
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INCOME DETAIL
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Income from Salary
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₹ 800000
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Income from Interest
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0
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Rental Income (Let out)
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0
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Other Income
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0
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Deduction
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Deduction 80C (Insurance Premium)
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Medical Insurance 80D (Including Self and Parents)
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Interest on Education Loan 80E
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Donation to charity u/s 80G
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Interest on Housing Loan 80EEA
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Interest on Deposits in Saving Account u/s 80TTA/80TTB
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Tax Calculation AY 2023-24
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Old Tax Regime
(AY 2023-24)		New Tax Regime
(AY 2023-24)
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Total Income ₹ 800000₹ 800000
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Deduction/Exemption
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 Standard Deduction₹ 50000N/A
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Rental Income Deduction₹ 0₹ 0
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Chapter VI A Deduction₹ 0N/A
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Taxable Income₹ 750000₹ 800000
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Tax Payable
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Income Tax₹ 62500₹ 45000
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Rebate u/s 87A₹ 0₹ 0
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Surcharge₹ 0₹ 0
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Health & Education Cess₹ 2500₹ 1800
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Total Tax ₹ 65000₹ 46800
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Alerttax.in
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Tax Calculation AY 2024-25
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Old Tax Regime
(AY 2024-25)		New Tax Regime
(AY 2024-25)
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Total Income ₹ 800000₹ 800000
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Deduction/Exemption
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Standard Deduction₹ 50000₹ 50000
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Rental Deduction₹ 0₹ 0
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Chapter VI A Deduction₹ 0N/A
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Taxable Income₹ 750000₹ 750000
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Tax Payable
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Income Tax₹ 62500₹ 30000
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Rebate u/s 87A₹ 0₹ 0
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Surcharge₹ 0₹ 0
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Health & Education Cess₹ 2500₹ 1200
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Total Tax ₹ 65000₹ 31200
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Alerttax.in
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Disclaimer: Income Tax Calculator
The income tax calculator provided is intended for general informational purposes only and should not be considered as professional tax advice. The calculator is designed to assist users in estimating their potential tax liability based on the provided inputs and predefined formulas. Please note that tax laws, regulations, and rates are subject to change, and the calculator may not account for all the specific factors that may apply to an individual's tax situation. The results obtained from the calculator should not be relied upon as a substitute for professional tax advice or consultation with a qualified tax professional.
The accuracy and applicability of the calculated results may vary based on individual circumstances and the specific tax laws applicable to your jurisdiction. It is always advisable to consult with a professional tax advisor or refer to the latest tax guidelines from the relevant tax authorities for accurate and personalized tax calculations. By using the income tax calculator, you acknowledge and agree that the calculator is provided on an "as-is" basis, without any warranties or representations of any kind, express or implied. We disclaim any liability for errors, omissions, or damages arising from the use of the calculator.
Your use of the income tax calculator is at your own risk, and you are solely responsible for any decisions or actions taken based on the calculated results.
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