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Income Tax Calculator

Calculate your income tax liability under old and new regimes. Compare tax savings with various deductions and optimize your tax planning strategy.

Tax Optimization Calculator
Maximize your tax savings with India-specific deductions and planning
₹86,500
Total Tax Liability
₹14,00,000
Gross Income
₹8,70,000
Taxable Income
6.18%
Effective Tax Rate

Deductions Breakdown

HRA
House Rent Allowance
₹2,40,000
of ₹3,00,000
80C
Life Insurance, PPF, ELSS, etc.
₹1,50,000
of ₹1,50,000
80D
Health Insurance
₹40,000
of ₹1,00,000
₹60,000 more can be claimed
80CCD(1)
NPS Contribution
₹50,000
of ₹2,00,000
₹1,50,000 more can be claimed
24B
Home Loan Interest
₹0
of ₹2,00,000
₹2,00,000 more can be claimed

Optimization Recommendations

  • • Increase health insurance by ₹60000
Frequently Asked Questions

Old vs New regime - who should switch?

Choose new regime if you have minimal deductions (less than ₹1.5-2 lakh annually). Choose old regime if you have substantial deductions like HRA, LTA, 80C, 80D, etc.

What are common deductions people miss?

Common missed deductions include 80EE (home loan), 80EEA (affordable housing), 80CCD(1B) (NPS), 80TTA (savings account interest), and 80U (disability).