If you just want your tax bill, without structuring a full CTC breakdown first, this calculator gets there directly. Enter your gross annual income, pick a regime, and see your total tax liability, effective rate, and estimated monthly TDS.
The New Tax Regime has been the default since FY 2023-24: lower rates across more slabs, a Rs 75,000 standard deduction, and tax-free income up to Rs 12 lakh after the Section 87A rebate, but no HRA exemption or Section 80C deductions. The Old Regime keeps its familiar Rs 2.5 lakh exemption threshold and 30% top slab starting at Rs 10 lakh, a Rs 50,000 standard deduction, and full access to HRA, 80C (up to Rs 1,50,000), and 80D deductions. Which one costs you less depends entirely on how much you can claim in exemptions.
No. Your employer deducts TDS based on the regime you declare (or the New Regime by default if you don’t declare one), but you can choose a different regime when actually filing your return, as long as you don’t have business or professional income that restricts switching.
Your total income before any deductions, typically your annual salary (CTC minus employer-side components like Employer PF and gratuity that never reach you as cash income). If you have other income sources like rental income or interest, add those in too for an accurate total.
The Section 87A rebate threshold is Rs 5 lakh taxable income under the Old Regime versus Rs 12 lakh under the New Regime. Above those thresholds, tax is calculated normally on the full amount, not just the excess, which is why the two regimes can produce quite different results depending on your income level and deductions.
Not fully. It assumes salary income with a standard deduction applied, which doesn’t apply to business or professional income taxed under different provisions. If most of your income isn’t salary, consult a tax professional.
Need the same numbers built from your CTC structure instead? Use our CTC to In-Hand Salary Calculator.