Plan Your Investment


How Much Tax You Can Save

Head Description Amount ( Rs.)
Gross Income Salary and Other Income
Exemptions u/s 10 A HRA , Convenyance etc
Professional Tax Professional Tax
Net Income under Salaries Gross Income - Exemptions
Deductions u/s 80 C Investments in PF, PPF, ELSS, NPS, Housing Loan Principal etc
Deductions u/s 80 CCD Investments in NPS (Maximum limit 50,000)
Deductions u/s 80 D Medical Insurance Premium (Self, Parents)
Deductions u/s 80 G Eligible Donations
Deductions u/s 80 E Interest Paid on Education Loan
Deductions u/s 80 TTA Interest Received on Savings Bank A/C
Tax Benefit u/s 24 Interest Paid On Home Loan
Total Deductions/Benefits
Taxable Income

Disclaimer: The above calculator is only to enable public to have a quick and an easy access to basic tax calculation and does not purport to give correct tax calculation in all circumstances. It is advised that for filing of returns the exact calculation may be made as per the provisions contained in the relevant Acts, Rules etc.

Click here to calculate the exact Tax for the purpose of Tax filling.

Income Tax Slab for AY 2019-20

Tax Slab for Individuals below 60 Years of Age

Income range per annum New Slabs AY
2021-22
Old Slabs, mandatory upto FY 2019-20
and optional from FY2020-21
Up to Rs. 2.5 lakhs No Tax No tax
Above Rs. 2.5 lakhs to Rs. 5 lakhs 5% 5%
Above Rs. 5 lakhs to Rs. 7.5 lakhs 10% 20%
Above Rs. 7.5 lakhs to Rs. 10 lakhs 15% 20%
Above Rs. 10 lakhs to Rs. 12.5 lakhs 20% 30%
Above Rs. 12.5 lakhs to Rs. 15 lakhs 25% 30%
Above Rs. 15 lakhs 30% 30%
Rebate under section 87(A) 100% tax rebate subject to maximum of Rs. 2,500 available to resident individual whose total income does not exceed Rs. 3.5 lakhs

Income Tax Slab for Senior Citizens (age more than 60 years but less than 80 years FY 2019-20)

Income range per annum New Slab, AY 2021-22 Tax Rate, AY 2020-21
Up to Rs. 3 lakhs No Tax No Tax
Above Rs. 3 lakh to Rs. 5 lakhs 5% 5%
Above Rs. 5 lakhs to Rs. 7.5 lakhs 10% 20%
Above Rs. 7.5 lakhs to Rs. 10 lakhs 15% 20%
Above Rs. 10 lakhs to Rs. 12.5 lakhs 20% 30%
Above Rs. 12.5 lakhs to Rs. 15 lakhs 25% 30%
Above Rs. 15 lakhs 30% 30%
Rebate under section 87(A) 100% tax rebate subject to maximum of Rs. 2,500 available to resident individual whose total income does not exceed Rs. 3.5 lakhs

Senior Citizens Tax Slab (age more than 80 years FY 2019-20)

Income range per annum New Slab,
AY 2021-22
New Slab,
Tax Rate, AY 2020-21
Up to Rs. 2.5 lakhs per annum No Tax No Tax
Up to Rs. 5 lakhs per annum No Tax No Tax
Above Rs. 5 lakhs to Rs. 7.5 lakhs 10% 20%
Above Rs. 7.5 lakhs to Rs. 10 lakhs 15% 20%
Above Rs. 10 lakhs to Rs. 12.5 lakhs 20% 30%
Above Rs. 12.5 lakhs to Rs. 15 lakhs 25% 30%
Above Rs. 15 lakhs 30% 30%
Note: Cess at 4% of tax applicable in all cases. Surcharge at 10% for income above Rs. 50 lakhs and at 15% for income above Rs. 1 crore.

Recommended funds for Tax Savings u/s 80 C

Scheme Name Category 1 Year Return (%) 3 Year Return (%) 5 Year Return (%) Since Inception (%)
Axis ELSS Tax Saver Fund - Regular Plan - Growth Equity: ELSS 20.65 9.53 13.36 16.03 Invest Online
Mirae Asset ELSS Tax Saver Fund - Regular Plan - Growth Equity: ELSS 21.72 16.12 19.73 18.74 Invest Online
Motilal Oswal ELSS Tax Saver Fund - Regular Plan - Growth Option Equity: ELSS 51.18 29.09 24.18 18.66 Invest Online