आयकर गणना प्रपत्र
Income Tax Calculation Sheet

At RajPay, developers has developed this income tax calculator to help various types of users to determine their total taxable income quickly and accurately. With just a few simple steps, individuals can resolve their queries regarding tax calculations for the ongoing financial year, ensuring clarity and ease in understanding their tax liabilities.

Let's Quickly calculate your tax liabilities under both Old and New Tax Regimes.

Personal Details

What's your name?

Designation?

Department?

PAN?

Tax Regime?

Category?

INCOME FROM SALARY & OTHER SOURCES

Basic Pay (Annual)

Dearness Allowance (Annual)

H.R.A Received (Annual)

Any Other Allowances (Annual)

Saving Interest (If any)

Deposit (FD) Interest (If any)

Rental income received (If any)

Income from other sources (If any)

Deduction Under Chapter VI-A

U/S 80C, 80CCC & 80CCD(1)-Employee or Self-employed ?

Deductions u/s 80CCD (2) (Employers contribution towards NPS)

U/S 80CCD(1B)-Employee or Self-employed Additional contribution (Max 50000) in NPS?

U/S 80D Medical Insurance Premium (Up to 25000)?

U/S U/S 80DD Medical Treatment of Handicapped?

U/S 80DDB Expediture on Treatment of Cancer, Aids etc.?

U/S 80G Donation 50% or 100% (Max. 10% of Gross Total Income)

U/S 80TTA Interest on Saving A/C upto Rs. 10000/-

U/S 80U Deduction for individuals with disabilities Up to Rs. 75000/-

U/S 80E Interest on Loan for Higher Education of Self

U/S 80CCH Contribution to Agnipath Scheme

Any other deduction

Exemption (If any)

House Rent Paid ?

Are you living in Metro City ?

Interest Paid towards Housing Loan ?

Tax Deducted at Source

Tax deduction up to November

December 2024?

January 2025?

Febuary 2025?

Details Submitted Successfully!

Thank you for providing the details. You can now proceed with your calculation by clicking the button below!

How to use the Income Tax Calculator

Enter your personal details
- Name
- Designation
- Department/Office Name
- Tax Regime: Specify whether it is the Old or New Tax Regime.
- Category: Select the appropriate category (Individual, Senior Citizen, or Super Senior Citizen).
Provide income from salary and other sources.
- Salary Allowances: Provide details for:
  - Basic Pay
  - Dearness Allowance (DA)
  - House Rent Allowance (HRA)
  - Any other allowances (Enter the total under "Any Other Allowances").
- Income from Other Sources: Include the following:
  - Saving Bank Interest
  - Deposit Bank Interest
  - Rental Income
  - Any other income sources
- Note: Ensure that the income entered is the annual income for the current financial year.
Deductions Under Chapter VI-A: The user can claim deductions under the following sections:
- Section 80C, 80CCC, and 80CCD(1): Limited to a combined maximum of ₹1,50,000.
- Section 80CCD(2): Employer's contribution to the National Pension System (NPS), limited to 14% of salary.
- Section 80CCD(1B): Employee's additional contribution to NPS, limited to ₹50,000.
- Section 80D: Health insurance premium up to ₹25,000. An additional deduction of ₹5,000 is allowed for preventive health check-ups.
- Section 80DD: Expenses for medical treatment of a dependent with a disability (amount depends on the percentage of disability).
- Section 80DDB: Expenses for treatment of specified diseases such as cancer or AIDS.
- Section 80G: Donations eligible for 50% or 100% deduction (maximum 10% of gross total income).
- Section 80TTA: Interest on savings accounts, up to ₹10,000.
- Section 80U: Deduction for individuals with disabilities, up to ₹75,000.
- Section 80E: Interest on loans taken for higher education.
- Section 80CCH: Contribution to the Agnipath Scheme.
Exemptions: Under the Old Tax Regime, the user can claim exemptions for:
- House Rent Allowance (HRA): Based on the city of residence (Metro/Non-Metro).
- Interest Paid on Housing Loans: Applicable under specific conditions.
Tax Deducted at Source (TDS): Finally, the user is expected to input the details of Tax Deducted at Source (TDS), if applicable.
Click Calculate to view and compare your tax liabilities under both regimes.

Frequently Asked Questions (FAQs)

Here are the different tax slabs under both regimes:-

New Tax Regime

#	Slab	Tax Rate
1.	₹0 to ₹3,00,000:	NIL
2.	₹3,00,001 to ₹7,00,000:	5%
3.	₹7,00,001 to ₹10,00,000:	10%
4.	₹10,00,001 to ₹12,00,000:	15%
5.	₹12,00,001 to ₹10,00,000:	20%
6.	Above ₹15,00,000:	30%

Old Tax Regime

#	Slab	Tax Rate
#	Slab	Individual	Senior Citizen	Super Sr. Citizen
1.	₹0 to ₹2,50,000:	NIL	NIL	NIL
2.	₹2,50,001 to ₹5,00,000:	5%	5%	NIL
3.	₹5,00,001 to ₹10,00,000:	20%	20%	20%
4.	Above ₹10,00,000:	30%	30%	30%

The Old Regime allows for deductions like 80C, 80D, and HRA but has higher tax rates. The New Regime has lower tax rates but no exemptions. Only U/S 80CCD(2)-Employers contribution towards NPS can be take in deduction coloumn.

The HRA exemption under the Old Tax Regime is computed based on Section 10(13A) of the Income Tax Act. The exempt amount is the lowest of the three amounts:

Actual H.R.A Paid.
50% of basic salary (for metro city), or 40% of basic salary (for non-metro city).
Rent paid minus 10% of basic salary.

Tips for Using the Calculator

Maximize chances of tax savings by exploring various deductions under the Old Regime.
Try to switch between both Old & New Regimes to optimize your tax liability.
If you are unaware to the basics of taxation terminology we advice you to consult a tax advisor for further guidance.
If still you have any queries, you may contact us here.