Income Tax Calculator - Arshad & Associates

Income Tax Calculator 2024-2025

Enter Your Taxable Income (Rs.):

Your taxable income: Rs.

Income tax payable: Rs.

Effective tax rate: %

Income Slab	Taxable Amount	Tax Rate	Tax

Income Tax Slabs for 2024-2025

Taxable Income	Rate of Tax
Where taxable income does not exceed Rs. 600,000	0%
Where taxable income exceeds Rs. 600,000 but does not exceed Rs. 1,200,000	5% of the amount exceeding Rs. 600,000
Where taxable income exceeds Rs. 1,200,000 but does not exceed Rs. 2,200,000	Rs. 30,000 + 15% of the amount exceeding Rs. 1,200,000
Where taxable income exceeds Rs. 2,200,000 but does not exceed Rs. 3,200,000	Rs. 180,000 + 25% of the amount exceeding Rs. 2,200,000
Where taxable income exceeds Rs. 3,200,000 but does not exceed Rs. 4,100,000	Rs. 430,000 + 30% of the amount exceeding Rs. 3,200,000
Where taxable income exceeds Rs. 4,100,000	Rs. 700,000 + 35% of the amount exceeding Rs. 4,100,000

1. What is taxable income?

Taxable income is the portion of your total income that is subject to income tax after accounting for all allowable deductions and exemptions.

2. Is the tax calculated on gross income?

No, the tax is calculated on your taxable income, which is your gross income minus any allowable deductions and exemptions.

3. Are there any tax credits available?

Yes, there may be various tax credits available depending on your circumstances. These would be applied after calculating your tax liability.

4. What if I have income from multiple sources?

All income from various sources should be combined to determine your total taxable income before applying the tax rates.

5. When is the tax due?

The tax is typically due when you file your annual tax return, though advance tax payments may be required for some taxpayers.

6. Are these rates for individuals only?

These rates are typically for individual taxpayers. Companies and other entities may have different tax rates.