This online tax calculator helps you estimate the tax payable based on your income, deductions, and applicable tax rate.
Formula
Tax = (Taxable Income – Deductions) × Tax Rate
Example Calculation
If your income is ₹5,00,000, taxable income is ₹4,00,000, deductions are ₹1,50,000, and the tax rate is 20%, your estimated tax would be ₹50,000.
Why It Matters
Using this calculator, you can plan your finances and understand your tax obligations for the current financial year.
Smart Strategy
Make sure to claim all eligible deductions to reduce your taxable income and save on taxes.
FAQs
How can I reduce my tax liability? By investing in tax-saving instruments like PPF, NPS, and insurance premiums.
Is this calculator based on the new tax regime? Yes, it is based on the latest tax rules and exemptions applicable for the financial year 2025.
