Income Tax Slab Formula
Expression: Tax = Σ(Slab Income × Slab Rate) + 4% Cess
India's progressive tax applies different rates to income brackets. New regime FY 2024-25 has slabs from 0% to 30%, plus 4% health & education cess on total tax.
Example: Taxable income ₹8 lakh (new regime)
Apply slab rates to ₹8,00,000
Slab-wise computation + 4% cess
Result: Total tax per current slab rates