Are you tired of guessing how much you owe in taxes? Our <a href="https://www.kotaklife.com/financial-tools-calculators/income-tax-calculator">income tax calculator</a> takes the guesswork out of tax season, giving you the financial control you need. Try it now!

Get a Grip on Your Finances with an Income Tax Calculator

<h2>How To Use The Income Tax Calculator??</h2>Plan your taxes accurately by knowing your annual income tax owed.<img src="https://www.kotaklife.com/assets/images/tick.svg" alt="" width="37" height="36"><h4>Step 1</h4>Enter basic details such as age and financial year.<img src="https://www.kotaklife.com/assets/images/tick.svg" alt="" width="37" height="36"><h4>Step 2</h4>Enter correct income details for which income tax is applicable.<img src="https://www.kotaklife.com/assets/images/tick.svg" alt="" width="37" height="36"><h4>Step 3</h4>Fill in the deductions and obtain your result for the income tax you need to plan.<picture>
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								</picture><h2 dir="ltr">Income Tax Slab <a href="https://www.incometax.gov.in/iec/foportal/help/individual/return-applicable-1" dir="ltr">(for salaried individuals under 60 years of age$) </a></h2><table class="taxTable" dir="ltr">
 <thead class="taxTablehead" dir="ltr">
 <tr dir="ltr">
 <th colspan="2" dir="ltr">Existing Tax Regime</th>
 <th colspan="2" dir="ltr">New Tax Regime u/s 115BAC</th>
 </tr>
 <tr class="sub-title" dir="ltr">
 <th class="borderRight" dir="ltr">Income Tax Slab</th>
 <th class="borderRight" dir="ltr">Income Tax Rate </th>
 <th class="borderRight" dir="ltr">Income Tax Slab</th>
 <th dir="ltr">Income Tax Rate</th>
 </tr>
 </thead>
 <tbody class="taxTablebody" dir="ltr">
 <tr dir="ltr">
 <td class="borderRight" dir="ltr">Up to ₹ 2,50,000</td>
 <td class="borderRight" dir="ltr">Nil</td>
 <td dir="ltr">Up to ₹ 2,50,000</td>
 <td dir="ltr">Nil</td>
 </tr>
 <tr dir="ltr">
 <td class="borderRight" dir="ltr">₹ 2,50,001 -
 ₹ 5,00,000</td>
 <td class="borderRight" dir="ltr">5% above ₹ 2,50,000</td>
 <td dir="ltr">₹ 2,50,001 - ₹ 5,00,000</td>
 <td dir="ltr">5% above ₹ 2,50,000</td>
 </tr>
 <tr dir="ltr">
 <td class="borderRight" dir="ltr">₹ 5,00,001 -
 ₹ 10,00,000</td>
 <td class="borderRight" dir="ltr">₹ 12,500 + 20% above ₹
 5,00,000</td>
 <td dir="ltr">₹ 5,00,001 - ₹
 7,50,000</td>
 <td dir="ltr">₹ 12,500 + 10% above ₹
 5,00,000</td>
 </tr>
 <tr dir="ltr">
 <td class="borderRight" dir="ltr">Above ₹
 10,00,000</td>
 <td class="borderRight" dir="ltr">₹ 1,12,500 + 30% above ₹
 10,00,000</td>
 <td dir="ltr">₹ 7,50,001 - ₹
 10,00,000</td>
 <td dir="ltr">₹ 37,500 + 15% above ₹
 7,50,000</td>
 </tr>
 <tr dir="ltr">
 <td class="borderRight" dir="ltr"></td>
 <td class="borderRight" dir="ltr"></td>
 <td class="borderRight" dir="ltr">₹ 10,00,001 - ₹
 12,50,000</td>
 <td class="borderRight" dir="ltr">₹ 75,000 + 20% above ₹
 10,00,000</td>

 </tr>
 <tr dir="ltr">
 <td class="borderRight" dir="ltr"></td>
 <td class="borderRight" dir="ltr"></td>
 <td class="borderRight" dir="ltr">₹ 12,50,001 - ₹
 15,00,000</td>
 <td dir="ltr">₹ 1,25,000 + 25% above ₹
 12,50,000</td>
 </tr>
 <tr dir="ltr">
 <td class="borderRight" dir="ltr"></td>
 <td class="borderRight" dir="ltr"></td>
 <td class="borderRight" dir="ltr">Above ₹ 15,00,000</td>
 <td dir="ltr">₹ 1,87,500 + 30% above ₹

 15,00,000</td>
 </tr>
 </tbody>
 </table><h2>Claims on Tax deductions</h2><a href="https://incometaxindia.gov.in/Pages/faqs.aspx" dir="ltr">Section 87A</a>*:&nbsp;Income below ₹5 lakhs after claiming tax deductions is eligible for a tax rebate of up to ₹12,500.Section 80C$, Section 80CCC$, Section 80CCD (1) $ : Deduction of up to a total of ₹1.5 lakhs in life insurance premium, tuition fees, Public Provident Funds (PPF), National Savings Certificate (NSC), Unit-linked Insurance Plans (ULIP), and Equity-linked Savings Schemes (ELSS) on the Interest Income.Section 80CCD (1B) $ : An investment of ₹50,000 above ₹1.5L eligible under Section 80C in the National Pension System (NPS).Section 80D$: Deduction towards payments made to Health Insurance Premium &amp; Preventive Health check up.Section 80G$: Any donations made towards prescribed Funds, Charitable Institutions, etc. are eligible for deductions.Section 80E$: Deduction towards interest payments for higher education loan.Section 8OTTA/80TTB$: Interest income of up to ₹10,000 from savings accounts is eligible for deduction. For senior citizens, interest income up to ₹50,000 Section 8OTTA/80TTB$: Interest income of up to ₹10,000 from savings accounts, under Section 8OTTB.

Calculate Income Tax Online for FY 2022-23 and AY 2023-24 with Income Tax Calculator by Kotak Life Insurance. Learn how to use a tax calculator and calculate your income tax online per the new regime. 

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Money & Investments

Plan your taxes accurately by knowing your annual income tax owed.

Enter basic details such as age and financial year.

Enter correct income details for which income tax is applicable.

Fill in the deductions and obtain your result for the income tax you need to plan.

Income Tax Slab  (for salaried individuals under 60 years of age $  )

<a href="https://incometaxindia.gov.in/Pages/faqs.aspx">Section 87A </a>* :   Income below ₹5 lakhs after claiming tax deductions is eligible for a tax rebate of up to ₹12,500.

Section 80C$ , Section 80CCC$ , Section 80CCD (1)$ : Deduction of up to a total of ₹1.5 lakhs in life insurance premium, tuition fees, Public Provident Funds (PPF), National Savings Certificate (NSC), Unit-linked Insurance Plans (ULIP), and Equity-linked Savings Schemes (ELSS) on the Interest Income.

Section 80CCD (1B)$ : An investment of ₹50,000 above ₹1.5L eligible under Section 80C in the National Pension System (NPS).

Section 80D$ : Deduction towards payments made to Health Insurance Premium & Preventive Health check up.

Section 80G$ : Any donations made towards prescribed Funds, Charitable Institutions, etc. are eligible for deductions.

Section 80E$ : Deduction towards interest payments for higher education loan.

Section 8OTTA/80TTB$ : Interest income of up to ₹10,000 from savings accounts is eligible for deduction. For senior citizens, interest income up to ₹50,000 Section 8OTTA/80TTB$: Interest income of up to ₹10,000 from savings accounts, under Section 8OTTB.

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Get a Grip on Your Finances with an Income Tax Calculator

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