Tax Slab Calculator
Calculate your income tax based on the latest tax slabs. Compare old vs new regime and find the best option.
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* എല്ലാ കണക്കുകൂട്ടലുകളും ഏകദേശമാണ്.
പ്രധാനം — തീരുമാനിക്കുന്നതിന് മുമ്പ് വായിക്കുക
- The new tax regime offers lower tax rates but eliminates most exemptions and deductions like 80C, 80D, and HRA
- The old tax regime allows deductions under Section 80C (up to ₹1.5L), 80D (health insurance), HRA, and more
- Under Section 87A, income up to ₹5 lakh (old regime) or ₹7 lakh (new regime) is effectively tax-free due to rebate
- The new regime provides a standard deduction of ₹50,000 for salaried individuals from FY 2023-24 onwards
- A surcharge of 10-37% applies on income tax for income exceeding ₹50 lakh, significantly increasing the tax burden
- If your total tax liability exceeds ₹10,000 in a year, you must pay advance tax in quarterly installments
- Most salaried employees already have TDS (Tax Deducted at Source) handled by their employer — check Form 26AS to verify
- Section 80C investments (PPF, ELSS, LIC) and Section 80D (health insurance premiums) are the most common deductions in the old regime
ഇവ അവഗണിച്ചാൽ എന്ത് സംഭവിക്കും?
- Choosing the wrong tax regime can cost you thousands in unnecessary taxes — always compare both before filing
- Not filing income tax returns on time (before July 31) leads to penalties, interest, and loss of carry-forward benefits
- Ignoring advance tax obligations results in interest under Section 234B and 234C added to your tax liability
- Missing available deductions under the old regime means paying more tax than legally required
- Non-filing of returns can attract a penalty of up to ₹10,000 and prosecution for high-income earners
സ്മാർട്ട് ടിപ്പുകൾ
- Always compare tax liability under both old and new regimes before making a choice — use this calculator for both
- Maximize Section 80C deductions with ELSS, PPF, or NPS contributions to reduce taxable income under old regime
- Consider investing in NPS for an additional ₹50,000 deduction under Section 80CCD(1B) beyond the 80C limit
- File your income tax return before July 31 every year to avoid penalties and claim refunds faster
- Use Form 26AS and AIS (Annual Information Statement) to verify all TDS deducted and income reported
- Keep all investment proofs, rent receipts, and medical bills organized throughout the year for hassle-free filing
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