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| Income Tax Calculator
Income Tax Calculator
A comparative tool that helps you stay aware of your tax liabilities according to both the existing and new income tax regime
Yearly Income from Salary
Age
+ Income from Other Sources (Interest on FD and Let-out Property)

Interest from Savings Bank Accounts / FD Accounts
Rental Income Received (Let-out Property)
Municipal Tax Paid (Let-out Property)
Interest paid on Housing Loan (Let-out Property)
Other Income, if any
Exemption Details
Exemptions cannot be availed in the new tax regime. The exemption details collected here will be used to calculate tax under the old regime and compared with the tax calculated under new regime.
HRA and Other Exemptions
Interest paid on Housing Loan
80C (PF, PPF, Insurance Premium)
80CCD (Employee's contribution to NPS)
80CCD(1B) (Additional Contribution to NPS)
80D (Medical Insurance Premium)
80E (Interest paid on Education Loan)
80EEA (Interest paid on Home Loan for Affordable Housing)
80EEB (Interest paid on Loan for Purchase of Electrical Vehicle)
80G (Donations to Charity)

Here is the tax summary based on your input
Old Tax Regime
New Tax Regime
You will save
0
under the
Tax charges are the same under both regimes
Summary Breakdown
Components Old Tax Regime New Tax Regime
Total Gross Income
Total Eligible Deductions
Taxable Income
Tax on Total Income
Surcharge
Health and Education Cess
Total Tax to be Paid
Here is the tax summary based on your input
You will save 0 under the
Tax charges are the same under both regimes
Old Tax Regime
Show Breakup
Summary Breakdown
Components Old Tax Regime
Total Gross Income
Total Eligible Deductions
Taxable Income
Tax on Total Income
Surcharge
Health and Education Cess
Total Tax to be Paid

New Tax Regime
Show Breakup
Summary Breakdown
Components New Tax Regime
Total Gross Income
Total Eligible Deductions
Taxable Income
Tax on Total Income
Surcharge
Health and Education Cess
Total Tax to be Paid

Disclaimer: Zoho has taken great care and has made every attempt to ensure that the information obtained from the tool is accurate. However, Zoho is not responsible for any errors or omissions and provides no guarantee or warranty on the correctness of the results obtained from the tool. By using this tool you agree not to hold Zoho liable for any issues that arise from incorrect results obtained.
Frequently Asked Questions

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What is Zoho Payroll income tax comparison calculator 2020-2021?
Zoho Payroll income tax comparison calculator allows you to compute taxes based on both; current and latest tax slabs announced as part of the Union Budget 2020.

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Why have we come up with Zoho Payroll income tax comparison calculator?
With the announcement of the new tax slabs, that will be an open option starting from April 1st 2020, Zoho Payroll income tax comparison calculator has been designed to help you get a comparative view between the two methods of tax computation so you can now choose what fits you best. 

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How is it used?
Zoho Payroll income tax comparison calculator works with simple logic and is quite easy. Fill in the respective fields like Age, Income Details and Exemption Details. Click on calculate to find a comparative result on your tax liabilities between the current tax system and the new one.

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What are the salary slabs for income tax in India?
Here is a chart for you to see the difference in tax slabs between the current and new tax regime in India.
Salary Slab Existing Tax Regime New Tax Regime
0 - 2.5 L  0% 0%
2.5 - 5.0 L 5% 5%
5.0 - 7.5 L 20% 10%
7.5 - 10.0 L 20% 15%
10.0 - 12.5 L 30% 20%
12.5 - 15.0 L  30% 25%
15.0 L and above 30% 30%
Understanding what tax regime would be beneficial for you varies from person to person based on what their income composition is and what investments are done. 

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