Income Tax Calculator
Calculate income tax for India, USA, UK, Canada and Australia — free, instant, no signup
Total tax
Effective rate
Net income
Tax bracket breakdown
What is this Income Tax Calculator?
This free income tax calculator estimates your tax liability, effective tax rate, and net income after tax for five countries — India, USA, UK, Canada, and Australia — with a complete bracket-by-bracket breakdown. For India, it supports both the Old Regime and New Regime for FY 2023-24, including surcharge and 4% Health & Education Cess, and handles all three age groups (below 60, senior citizen 60–80, super-senior above 80).
Unlike a simple tax estimator that just tells you a single number, this tool shows you the full calculation — exactly how much tax is charged in each slab, any applicable surcharge, the cess, and the final net income you take home. This breakdown is especially valuable for Indian taxpayers choosing between the Old and New Regime, since the right choice can mean a difference of ₹10,000 to ₹1,00,000 or more per year depending on income and deductions.
How to use this calculator — step by step
- Step 1 — Select your country: Choose India, USA, UK, Canada, or Australia. The input fields update to match that country's tax system.
- Step 2 — Enter your annual income: Use your gross annual income before tax — for salaried Indians, this is your CTC (Cost to Company) or gross salary as per Form 16. Do not subtract any deductions yourself — the calculator handles that.
- Step 3 — Select regime (India only): Choose New Regime or Old Regime. If you are unsure, calculate both and compare — the result shows total tax for each.
- Step 4 — Select age group (India only): Below 60, Senior Citizen (60–80 years), or Super-Senior (above 80). Age affects the basic exemption limit under the Old Regime.
- Step 5 — Click "Calculate tax": Instantly see your total tax liability, effective tax rate (tax ÷ gross income × 100), and net income (gross minus tax). The full bracket table below shows every slab calculation.
- Step 6 — Read the bracket breakdown: Each row shows the income range, the rate applied to that slice, and the tax amount for that slice. The total at the bottom includes surcharge and cess for India.
- Step 7 — Compare regimes: Switch between Old and New Regime without changing your income to instantly see which saves you more tax.
Key features
- India Old Regime: Age-based exemption limits (₹2.5L / ₹3L / ₹5L), 5%/20%/30% slabs, Section 87A rebate up to ₹5L taxable income, surcharge up to 37%, 4% cess
- India New Regime (FY 2023-24): 0% up to ₹3L, then 5%/10%/15%/20%/30% slabs, full Section 87A rebate up to ₹7L taxable income, surcharge, 4% cess
- USA: All 4 filing statuses (Single, Married Filing Jointly, Married Filing Separately, Head of Household) with correct 2023 brackets
- UK: Standard, reduced (income >£100K), or no personal allowance — with 20%/40%/45% bands
- Canada: Federal 2023 brackets (5 slabs, 15%–33%)
- Australia: 2022-23 resident tax-free threshold plus 4 progressive brackets up to 45%
- Reset button: Restore all defaults in one click
India income tax — Old Regime vs New Regime explained in full
India introduced an optional New Tax Regime in FY 2020-21 and made it the default regime from FY 2023-24. If you do not explicitly opt out, you are automatically in the New Regime. Both regimes exist simultaneously, and every individual taxpayer can choose the one that results in lower tax for their specific income and deduction profile. This calculator lets you compare both instantly.
India New Regime — tax slabs FY 2023-24 (Assessment Year 2024-25)
The New Regime slabs apply to all individuals regardless of age:
- Up to ₹3,00,000 — 0% (Nil)
- ₹3,00,001 to ₹6,00,000 — 5%
- ₹6,00,001 to ₹9,00,000 — 10%
- ₹9,00,001 to ₹12,00,000 — 15%
- ₹12,00,001 to ₹15,00,000 — 20%
- Above ₹15,00,000 — 30%
Section 87A rebate under New Regime: If your taxable income is ₹7 lakh or below, you get a full rebate — tax becomes ₹0. This effectively makes the New Regime tax-free up to ₹7 lakh. Standard deduction of ₹75,000 is available for salaried individuals under the New Regime from FY 2023-24, making the effective tax-free income ₹7.75 lakh for salaried employees.
India Old Regime — tax slabs FY 2023-24
The Old Regime has age-based basic exemption limits:
- Below 60 years: 0% up to ₹2.5L | 5% from ₹2.5L–₹5L | 20% from ₹5L–₹10L | 30% above ₹10L
- Senior Citizens (60–80 years): 0% up to ₹3L | 5% from ₹3L–₹5L | 20% from ₹5L–₹10L | 30% above ₹10L
- Super Senior Citizens (above 80 years): 0% up to ₹5L | 20% from ₹5L–₹10L | 30% above ₹10L
Section 87A rebate under Old Regime: Full rebate if taxable income (after all deductions) is ₹5 lakh or below — tax becomes ₹0. Standard deduction of ₹50,000 applies for salaried individuals.
Key differences — Old vs New Regime at a glance
New Regime — best for
People with limited investments and deductions. No HRA, 80C, LTA, home loan interest deduction. But lower tax rates + ₹7L rebate means less tax if your deductions are under ~₹3.75 lakh. Also simpler — fewer documents, no proofs needed.
Old Regime — best for
People who maximize deductions: 80C investments (PPF, ELSS, LIC) ₹1.5L, HRA if living on rent, home loan interest ₹2L under Section 24(b), NPS ₹50K under 80CCD(1B), LTA, medical insurance 80D. Total deductions above ~₹3.75L usually make Old Regime better.
The break-even point
For most salaried people, the break-even is at approximately ₹3.75 lakh of deductions. Below that: New Regime wins. Above that: Old Regime wins. Use this calculator to enter your income and switch between regimes to find your exact break-even.
A real comparison — ₹12 lakh salary, Old vs New Regime
Enter ₹12,00,000 in the calculator and switch between regimes. New Regime: Tax on ₹12L = ₹0 (after ₹75K standard deduction, taxable income = ₹11.25L, slab tax = ₹1,17,000; but wait — income exceeds ₹7L rebate limit, so tax applies) = approximately ₹1,17,000 + 4% cess = ₹1,21,680. Old Regime (assuming max deductions: ₹50K standard + ₹1.5L 80C + ₹50K NPS + ₹25K 80D): taxable income = ₹12L − ₹2.75L = ₹9.25L. Tax = ₹5K + ₹1,00,000 + ₹7,500 = ₹1,12,500 − ₹12,500 rebate = ₹1,00,000 + 4% cess = ₹1,04,000. Old Regime saves ~₹17,680 in this scenario. But if you have no investments and no HRA, the New Regime wins. Enter your actual deductions and compare using this tool.
Surcharge — when does it apply?
Surcharge is an additional tax levied on individuals with high income, calculated on the income tax amount (not income itself):
- Income ₹50L–₹1 crore: 10% surcharge on income tax
- Income ₹1 crore–₹2 crore: 15% surcharge
- Income ₹2 crore–₹5 crore: 25% surcharge
- Income above ₹5 crore: 37% surcharge (25% under New Regime from FY 2023-24)
After adding surcharge, 4% Health & Education Cess is applied on the combined amount (tax + surcharge). This calculator includes both automatically — you can see the surcharge and cess as separate rows in the bracket breakdown table.
How income tax is calculated in India — step by step
Step 1 — Gross Total Income: Sum of all income heads — salary, house property, capital gains, business/profession, other sources.
Step 2 — Deductions (Old Regime only): Subtract Chapter VI-A deductions (80C, 80D, 80CCD, 80TTA etc.) and standard deduction (₹50,000) to arrive at Net Taxable Income.
Step 3 — Apply tax slabs: Tax is calculated progressively. Each rupee of income is only taxed at the rate of the slab it falls into — not the highest applicable rate on the entire income. This is how the bracket table in this calculator works.
Step 4 — Check Section 87A rebate: If taxable income ≤ ₹5L (Old Regime) or ≤ ₹7L (New Regime), tax becomes ₹0.
Step 5 — Add surcharge: If income exceeds ₹50 lakh, surcharge is added at the applicable rate.
Step 6 — Add 4% cess: Health & Education Cess = 4% × (tax + surcharge). This is the final income tax payable.
Free, instant, no signup required — supports Old & New Regime with full bracket breakdown.
Income tax in USA, UK, Canada and Australia — quick guide
United States federal income tax (2023)
The US uses a progressive "marginal" tax system with 7 brackets: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The rate applies only to the portion of income within each bracket — not the entire income. The brackets differ by filing status. For a single filer earning $75,000: the first $10,275 is taxed at 10%, the next $31,500 at 12%, and the remaining $33,225 at 22%. Total federal tax ≈ $12,107. Effective rate ≈ 16.1%. This calculator covers federal tax only — US taxpayers also pay state income tax (0% in TX, FL, WA vs up to 13.3% in CA) which varies significantly by state.
The 4 filing statuses available in this calculator: Single (unmarried or legally separated), Married Filing Jointly (most common for married couples — usually lowest tax), Married Filing Separately (rare, used when one spouse has significantly higher income or debt issues), and Head of Household (unmarried with a qualifying dependent — better rates than Single).
United Kingdom income tax (2023-24)
UK residents get a Personal Allowance of £12,570 — income below this is tax-free. Above the allowance: Basic Rate 20% (up to £50,270 total income), Higher Rate 40% (£50,271 to £125,140), Additional Rate 45% (above £125,140). There is no tax-free Personal Allowance for income above £125,140 — it tapers away at a rate of £1 for every £2 earned above £100,000. A UK taxpayer earning £80,000 pays approximately £22,432 income tax with an effective rate of ~28%. Note: UK taxpayers also pay National Insurance contributions (NICs) which this calculator does not include — NICs add approximately 8–12% on employment income for most workers.
Canada federal income tax (2023)
Canada has 5 federal tax brackets: 15% (up to $53,359), 20.5% ($53,359–$106,717), 26% ($106,717–$165,430), 29% ($165,430–$235,675), and 33% (above $235,675). Canada also has a Basic Personal Amount of ~$15,000 which effectively makes the first ~$15,000 of income tax-free (as a non-refundable credit at 15%). This calculator shows federal tax only — Canadian taxpayers also pay provincial/territorial income tax which ranges from ~6% (Alberta) to ~21% (Nova Scotia) on higher incomes. A Canadian earning $80,000 pays approximately $13,879 federal tax with an effective federal rate of ~17.3%.
Australia income tax (2022-23)
Australia has a tax-free threshold of AUD $18,200, then progressive rates: 19% ($18,201–$45,000), 32.5% ($45,001–$120,000), 37% ($120,001–$180,000), and 45% above $180,000. Australian residents also receive a Low Income Tax Offset (LITO) of up to $700 and potentially a Low and Middle Income Tax Offset (LMITO), which effectively further reduce tax for lower income earners — this calculator shows the slab tax before offsets. An Australian earning $90,000 pays approximately $21,517 slab tax, with an effective rate of ~23.9% before offsets. Note: Australia's Stage 3 tax cuts came into effect from 1 July 2024 (FY 2024-25), which changed the bracket structure; this calculator covers 2022-23 rates.
Frequently asked questions
Which tax regime is better for me — Old or New?
The answer depends on your total deductions. As a rule of thumb: if your deductions exceed approximately ₹3.75 lakh, the Old Regime is usually better; below that, the New Regime saves more tax. Common deductions under the Old Regime include: Section 80C investments (PPF, ELSS, NSC, home loan principal, LIC premium) — up to ₹1.5 lakh; standard deduction — ₹50,000; HRA exemption (if living on rent) — varies by city and salary, often ₹1–4 lakh; Section 80D health insurance premium — up to ₹25,000 (₹50,000 for senior citizens); Section 80CCD(1B) NPS contribution — up to ₹50,000; and Section 24(b) home loan interest — up to ₹2 lakh for self-occupied property. A salaried person who maximizes 80C (₹1.5L), takes standard deduction (₹50K), and has HRA and NPS benefits can easily exceed ₹3.75L in deductions, making the Old Regime superior. The best approach is to calculate both using this tool and pick whichever gives a lower tax number for your specific income.
What is the income tax slab under the New Regime for FY 2023-24?
The New Regime (default from FY 2023-24) has 6 slabs: 0% up to ₹3 lakh, 5% from ₹3–6 lakh, 10% from ₹6–9 lakh, 15% from ₹9–12 lakh, 20% from ₹12–15 lakh, and 30% above ₹15 lakh. Key points: (1) These are the same for all age groups — no higher exemption for senior citizens. (2) Section 87A provides a full tax rebate if taxable income is ₹7 lakh or below — so income up to ₹7 lakh is effectively zero-tax. (3) For salaried employees, a standard deduction of ₹75,000 is available, making the effective zero-tax threshold ₹7.75 lakh for salaried individuals. (4) The tax is calculated progressively on each slab — for income of ₹10 lakh, the tax is 0 (on first ₹3L) + ₹15,000 (on ₹3–6L at 5%) + ₹30,000 (on ₹6–9L at 10%) + ₹15,000 (on ₹9–10L at 15%) = ₹60,000, plus 4% cess = ₹62,400.
What deductions are allowed under the Old Regime but not the New Regime?
The New Regime removes most deductions to offer lower tax rates. Deductions not available under New Regime: Section 80C (PPF, ELSS, LIC, NSC, home loan principal) — up to ₹1.5L; HRA exemption (House Rent Allowance); LTA (Leave Travel Allowance) exemption; Section 80D (health insurance premium); Section 80E (education loan interest); Section 24(b) (home loan interest up to ₹2L for self-occupied); Section 80TTA/80TTB (savings account interest); and most other Chapter VI-A deductions. Deductions still available under New Regime: Standard deduction of ₹75,000 (for salaried/pensioners); Section 80CCD(2) — employer's NPS contribution (no cap); Agniveer Corpus deduction under 80CCH; gratuity and leave encashment exemptions. This is why high-deduction taxpayers typically benefit more from the Old Regime.
How accurate is this income tax calculator?
This calculator provides highly accurate estimates for standard salary income using the latest official tax slabs, surcharge rates, and cess for all supported countries. For India, it correctly applies the progressive slab system, age-based exemptions, Section 87A rebate, surcharge at the appropriate tier, and 4% cess. For the USA, UK, Canada and Australia it applies the correct 2023/2023-24 bracket structures. However, it does not account for: deductions (you need to enter income after deductions for Old Regime), capital gains (taxed differently — STCG at 15%, LTCG at 10% above ₹1L for equity), income from house property (net of loan interest), foreign income, Agricultural Income (exempt but affects tax calculation for above ₹5L), or special rates for specific income types. For complex tax situations — freelancers, business owners, NRIs, those with capital gains or rental income — please consult a qualified Chartered Accountant. This tool is for estimation and planning, not official ITR filing.
What is the deadline to file ITR in India and how do I file officially?
The ITR (Income Tax Return) filing deadline for individuals for FY 2023-24 (AY 2024-25) is 31 July 2024 (without late fees). Filing after this date attracts a late fee of ₹5,000 (₹1,000 if income is below ₹5 lakh). Belated returns can be filed up to 31 December 2024. For official ITR filing, use the Income Tax e-Filing Portal at incometax.gov.in. You will need: PAN card, Aadhaar, Form 16 (from employer), Form 26AS and AIS (Annual Information Statement — shows all income/TDS data), and bank account details. Salaried individuals with income from one employer and no other income can typically file ITR-1 (Sahaj) — the simplest form. Use ITR-2 for capital gains or house property income, ITR-3 for business income. This calculator is not connected to the e-filing portal and cannot submit your ITR.
What is TDS and how does it relate to income tax?
TDS (Tax Deducted at Source) is income tax deducted by your employer (or bank, or payer) before paying you. For salaried employees, your employer deducts TDS every month from your salary based on your estimated annual tax liability (considering the regime you declare at the start of the year). The total TDS deducted appears in Form 16 (from employer) and Form 26AS (from IT department). When you file your ITR, your actual tax liability is calculated, and if TDS deducted > actual tax, you get a refund. If TDS deducted < actual tax, you pay the difference as self-assessment tax. Use this calculator to estimate your annual tax liability at the start of the year — if the number differs from what your employer is deducting, submit a revised tax declaration to your employer (typically done via investment proof submission in January–February).
Which countries does this calculator support, and what are its limitations per country?
India (FY 2023-24): Full support — Old and New Regime, age-based slabs, Section 87A rebate, surcharge up to 37%, 4% cess. Limitation: does not handle deductions input (enter post-deduction income for Old Regime), capital gains, or special income types. USA (2023): Federal income tax only, all 4 filing statuses. Does not include: standard deduction, state income tax, FICA (Social Security + Medicare), AMT, or tax credits. UK (2023-24): Income tax only with personal allowance options. Does not include National Insurance (NI) contributions. Canada (2023): Federal tax only. Does not include provincial/territorial income tax (varies 6–21% by province), or the Basic Personal Amount credit. Australia (2022-23): Slab tax only. Does not include Low Income Tax Offset (LITO), Medicare Levy (2%), or Stage 3 tax cuts that applied from 1 July 2024.