Policy & Tax Impact Simulator

Understand how government policies, tax changes, and subsidies affect your finances. Make informed decisions with real-world impact analysis.

Current Tax Rates (FY 2023-24)

Up to ₹3L
0%
₹3L - ₹6L
5%
₹6L - ₹9L
10%
₹9L - ₹12L
15%
₹12L - ₹15L
20%
Above ₹15L
30%

Tax Calculator

Senior citizens (60+) get higher deduction limits

Max: ₹1.5L (PPF, ELSS, Life Insurance, etc.)

Max: ₹25K (₹50K for senior citizens)

HRA, LTA, 80CCD(1B), etc.

Quick Preview

Gross Income:₹8,00,000
Total Deductions:₹1,75,000
Taxable Income:₹6,25,000

Ready to Calculate Your Tax?

Fill in your income and deduction details to get a detailed tax breakdown with AI-powered insights and tax-saving suggestions.

Understanding Indian Tax System

📊 New Tax Regime (Default)

Introduced in Budget 2020, offers lower tax rates but with limited deductions. Standard deduction of ₹50,000 is available.

  • • Lower tax rates across slabs
  • • Limited deductions available
  • • No 80C, 80D deductions
  • • Suitable for those with fewer investments

🏛️ Old Tax Regime (Optional)

Traditional tax structure with higher rates but extensive deductions. You can choose this regime if it's more beneficial.

  • • Higher tax rates
  • • Multiple deduction options
  • • 80C limit: ₹1.5 lakh
  • • Suitable for high savers/investors

💰 Key Deductions (Old Regime)

  • • 80C: ₹1.5L (PPF, ELSS, Life Insurance)
  • • 80D: ₹25K (Health Insurance)
  • • 80CCD(1B): ₹50K (NPS)
  • • HRA: Rent paid minus 10% of salary
  • • LTA: Travel allowance exemption

📈 GST Impact on Daily Life

  • • Essential items: 0-5% GST
  • • Most goods: 12-18% GST
  • • Luxury items: 28% GST
  • • Services: Generally 18% GST
  • • Fuel: Outside GST (state taxes apply)