Income tax calculator

How this calculation works

1. 1. Taxable income — your gross annual income minus any income exempted under the Sixth Schedule.
2. 2. Slab-by-slab tax — the tax-free threshold is applied first, then each subsequent slab is taxed at its own rate. Only the portion of income inside a slab is taxed at that slab's rate.
3. 3. Investment rebate — deducted as the lowest of the three figures set under Admin → Tax rates → Calculation rules.
4. 4. Minimum tax — if your computed tax falls below the minimum for your area, the minimum applies instead.
5. 5. Balance — any tax already deducted at source or paid in advance is subtracted to give what you still owe.