India Income Tax Calculator 2023-24
Understanding Income Tax in India
India’s income tax system offers two regimes for individual taxpayers: New Tax Regime (default) and Old Tax Regime. Our calculator helps you compare both systems and make informed decisions about your tax planning.
New Tax Regime (2023-24)
- Up to ₹3 lakh: 0%
- ₹3-6 lakh: 5%
- ₹6-9 lakh: 10%
- ₹9-12 lakh: 15%
- ₹12-15 lakh: 20%
- Above ₹15 lakh: 30%
Old Tax Regime (2023-24)
- Up to ₹2.5 lakh: 0%
- ₹2.5-5 lakh: 5%
- ₹5-10 lakh: 20%
- Above ₹10 lakh: 30%
FAQs on Indian Income Tax
The new regime offers lower rates but fewer deductions, while the old regime allows various deductions (80C, 80D, HRA) but has higher rates.
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