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 RangeTax RateExample
Up to ₹2.5LNo taxFor ₹2.5L: Tax = ₹0
₹2.5L to ₹5L5%For ₹5L: Tax = ₹12,500
₹5L to ₹10L20%For ₹10L: Tax = ₹1,12,500
Above ₹10L30%For ₹15L: Tax = ₹2,62,500
Education Cess4% on total taxOn ₹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