Income Tax Calculator (Old Regime)
₹10,00,000
₹5,00,000
Advanced Options
▶Tax Distribution
Total CTC:₹10,00,000
Total Deductions:₹0
Total Tax:₹0
Take Home (Yearly):₹10,00,000
Take Home (Monthly):₹83,333
In-Hand Salary (Yearly):₹10,00,000
In-Hand Salary (Monthly):₹83,333
Tax Calculation
HRA Exemption Calculation
HRA Received:₹0
50% of Basic Salary:₹2,50,000
Rent Exceeding 10% of Basic:₹0
HRA Exemption (Minimum of above):₹0
Tax Slab Calculation
Detailed Breakdown
Total CTC:₹10,00,000
Standard Deduction:- ₹50,000
Professional Tax:- ₹2,400
Taxable Income:₹0
Total Tax:₹0
In-Hand Salary (Monthly):₹83,333
Tax Calculator Documentation
Tax Slabs (Old Regime)
| Income Range | Tax Rate | Example |
|---|---|---|
| Up to ₹2.5L | No tax | For ₹2.5L: Tax = ₹0 |
| ₹2.5L to ₹5L | 5% | For ₹5L: Tax = ₹12,500 |
| ₹5L to ₹10L | 20% | For ₹10L: Tax = ₹1,12,500 |
| Above ₹10L | 30% | For ₹15L: Tax = ₹2,62,500 |
| Education Cess | 4% on total tax | On ₹1L tax: Cess = ₹4,000 |
Available Deductions
Standard Deduction
Fixed amount of ₹50,000 available to all salaried individuals. No documentation needed.
Section 80C (Max: ₹1.5L)
- • EPF (Employee Provident Fund) - 12% of basic salary
- • PPF (Public Provident Fund) - Long-term savings
- • ELSS (Equity Linked Savings Scheme) - Tax-saving mutual funds
- • Life Insurance Premium - Term and traditional plans
- • Home Loan Principal Repayment
- • Tuition Fees for up to 2 children
- • Tax-saving Fixed Deposits (5-year lock-in)
Section 80CCD(1B) - NPS
Additional ₹50,000 deduction for contribution to National Pension System (NPS). This is over and above the ₹1.5L limit of Section 80C.
Section 80D - Medical Insurance
- • Self & Family: Up to ₹25,000
- • Parents (Non-Senior Citizens): Up to ₹25,000
- • Parents (Senior Citizens): Up to ₹50,000
- • Preventive Health Check-up: Up to ₹5,000 (included in above limits)
HRA Exemption
Minimum of:
- • Actual HRA received from employer
- • 50% of basic salary (for metro cities)
- • 40% of basic salary (for non-metro cities)
- • Actual rent paid minus 10% of basic salary
Metro cities: Delhi NCR, Mumbai, Chennai, Kolkata, Hyderabad, Bangalore
Section 80EEA - Home Loan Interest
- • Additional ₹1.5L deduction for first-time home buyers
- • Loan sanctioned between Apr 2019 - Mar 2022
- • Property value up to ₹45L
- • This is over and above Section 24 interest deduction
Section 80E - Education Loan Interest
- • No upper limit on deduction
- • Available for self, spouse, or children
- • Covers all fields of study
- • Available for 8 years from first repayment
Important Notes
- • All figures are for Financial Year 2023-24 (Assessment Year 2024-25)
- • Basic salary typically constitutes 40-50% of CTC in most organizations
- • EPF contribution is mandatory if basic salary > ₹15,000 per month
- • EPF contribution is capped at ₹1,800 monthly (12% of ₹15,000)
- • Professional Tax varies by state, typically around ₹2,400 per year
- • Education Cess of 4% is applicable on the total tax amount
- • Tax calculation is progressive - different rates apply to different slabs
- • Section 80C deductions have a combined limit of ₹1.5L
- • For HRA exemption, rent receipts are mandatory if annual rent > ₹1L