Let’s understand income tax calculation under the current tax slabs and new tax slabs (optional) by way of an example. … How to calculate income tax? (See example) Up to Rs 2,50,000Exempt from tax0Total Income TaxRs 12,500 + Rs 25,500+ Rs 37,500 + Rs 50,000 + Rs 62,500 + Rs 1,77,600 + Rs 14,604Rs 3,79,704Income Tax Calculator – Calculate your taxes for FY 2022-23 – ClearTax cleartax.in › paytax › TaxCalculator