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The Programming Project: INCOME TAX CALCULATOR : New Tax Regime FY 2023-24 Onwards

Friday, February 3, 2023

INCOME TAX CALCULATOR : New Tax Regime FY 2023-24 Onwards


INCOME TAX CALCULATOR - NEW REGIME

CALCULATE YOUR INCOME TAX UNDER NEW REGIME HERE: 

Enter your gross salary in ₹

Enter your total income from other sources (Savings Interest, Dividend, Interest on FDs) in ₹

Enter your total Professional Tax (P.Tax) in ₹


Compare with the Old Tax Regime

Income Tax Slabs & Rates 2023-24

The Finance Minister introduced new tax regime in Union Budget, 2020 wherein there is
 an option for individuals and HUF (Hindu Undivided Family) to pay taxes at lower 
rates without claiming deductions under various sections. 
The following Income Tax slab rates are notified in new tax regime:

Income Tax Slab Tax Rates As Per New Regime 
₹0 - ₹3,00,000  Nil 
₹3,00,000 -  ₹6,00,000      5%  
₹6,00,001 -  ₹9,00,000      ₹15000 + 10% of total income exceeding ₹5,00,000    
₹9,00,001 -  ₹12,00,000     ₹45000 + 15% of total income exceeding ₹7,50,000     
₹12,00,001 - ₹15,00,000     ₹90000 + 20% of total income exceeding ₹12,50,000  
Above        ₹15,00,000     ₹140000 + 30% of total income exceeding ₹15,00,000  
Above rates does not include Surcharge and Cess.
4% Health & Education Cess is applicable on the income tax and applicable surcharge.
 


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