Indian Income Tax Calculator – Usage, Benefits & Example
Income Tax Calculator (India - FY 2024-25 & AY 2025-26)
User Interface (UI) Overview
The Indian Income Tax Calculator provides an easy-to-use interface for calculating income tax based on FY 2024-25 and AY 2025-26 tax slabs. The UI consists of:
- Annual Income Input Field – Users can enter their annual taxable income in Indian Rupees (₹).
- Tax Regime Selection Dropdown – Users can choose between the Old Regime and New Regime tax structures.
- Calculate Button – Computes the estimated tax amount based on the selected regime.
- Tax Output Section – Displays the calculated tax liability in a clear, formatted manner.
The design is responsive, clean, and simple, ensuring accessibility on both desktop and mobile devices.
Usage & Benefits
✔ Compare Old & New Regime – Users can evaluate tax liabilities under both regimes and choose the best option.
✔ Instant Tax Estimation – No need for manual calculations; the tool automates tax computation accurately.
✔ User-Friendly – Minimal input required, making it ideal for salaried employees, self-employed individuals, and professionals.
✔ Rebate Consideration – Automatically applies Section 87A rebate for eligible incomes.
✔ Helps in Tax Planning – Users can estimate their tax liability before filing returns, aiding in better financial planning.
Example Calculation
Scenario: Suppose a user enters an annual income of ₹12,50,000 and selects the New Regime. The tax will be calculated as follows:
- Up to ₹3,00,000 → NIL
- ₹3,00,001 – ₹7,00,000 → 5% of ₹4,00,000 = ₹20,000
- ₹7,00,001 – ₹10,00,000 → 10% of ₹3,00,000 = ₹30,000
- ₹10,00,001 – ₹12,00,000 → 15% of ₹2,00,000 = ₹30,000
- ₹12,00,001 – ₹12,50,000 → 20% of ₹50,000 = ₹10,000
Total Tax = ₹90,000
The plugin will instantly display this amount in the tax output section.
This tool simplifies tax estimation for individuals, allowing them to plan their tax payments efficiently. 🚀 Let me know if you need any modifications or additional features!