Income Tax Calculator

Calculate Income Tax Returns & Invest in Mutual Funds via SIP

Want to know how much tax you’ll need to pay on your income in a financial year? VNN Wealth’s income tax calculator will make it easy for you.

Below 60 60 or Above 60 80 or Above 80



HRA Exemption



Tax payable:

What is the Income Tax Calculator?

VNN Wealth’s income tax calculator is an online tool that assists you with applicable taxes on your income based on the Union Budget.

Here’s how you can use the above calculator:

Step 1: Choose the assessment year you wish to calculate taxes from the dropdown menu.

Step 2: Since tax liability in India is categorized as per age, select the age group you fall under.

Step 3: Enter all your income details including your salary, exempt allowances (such as HRA, LTA), income from interest, rental income, etc.

Step 4: To calculate the tax in the old tax regime, fill in all your deductions such as 80C, 80D, 80CCD, etc.

Step 5: Click ‘Calculate’ to see the detailed comparison between taxable amounts as per new and old tax regimes.

Note- Keep your salary slip, income from investments, and other income receipts in handy to fill in accurate inputs. Put ‘0’ for the field that is not applicable in your case.

The tax rules have changed from 1st April 2024. Here’s a comparison between the old and the new tax rules.

Old Tax Regime

Income Slab Applicable Tax
0 - 2.5 Lakhs 0%
2.5 - 5 Lakhs 5%
5 - 10 Lakhs 20%
Above 10 Lakhs 30%

New Tax Regime

Income Slab Applicable Tax
0 - 3 Lakhs 0%
3 - 6 Lakhs 5%
6 - 9 Lakhs 10%
9 - 12 Lakhs 15%

The new tax regime provides lower tax rates, however, various tax deductions have been removed from the new tax regime. The standard deduction of INR. 50,000 is applicable to both tax regimes. The new tax regime will be applied to you by default unless you explicitly select the old tax regime.


Does the income tax calculator calculate TDS also?

No, the income tax calculator does not include TDS while calculating tax. It only calculates your tax liability for the given assessment year.

How much tax will be deducted from my salary?
How can I Calculate Tax Online?
How do I choose my assessment year in income tax?