Income Tax Calculator India 2024-25

Calculate your income tax liability for FY 2024-25 with our free online calculator. Compare old vs new tax regime and find which saves more tax.

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Enter Income Details (FY 2024-25)
₹10,00,000
₹3 Lakh₹1 Crore
Income Breakdown
Total₹10,00,000
Take Home
₹9,55,800
Tax Payable
₹44,200

Gross Income

₹10,00,000

Total Deductions

₹75,000

Tax Payable

₹44,200

Take Home

₹9,55,800
Regime Comparison
Old Regime Tax₹70,200
New Regime Tax₹44,200
New Regime saves you ₹26,000

Save this calculation for tax planning reference

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Income Tax Slabs for FY 2024-25 (AY 2025-26)

New Tax Regime (Default)

Income RangeTax Rate
Up to ₹3,00,000Nil
₹3,00,001 - ₹7,00,0005%
₹7,00,001 - ₹10,00,00010%
₹10,00,001 - ₹12,00,00015%
₹12,00,001 - ₹15,00,00020%
Above ₹15,00,00030%

Standard deduction of ₹75,000 available. Rebate u/s 87A up to ₹25,000 for income up to ₹7 lakh.

Old Tax Regime

Income RangeBelow 6060-80 yearsAbove 80
Up to ₹2.5L / ₹3L / ₹5LNilNilNil
₹2.5L/₹3L - ₹5L5%5%Nil
₹5L - ₹10L20%20%20%
Above ₹10L30%30%30%

Popular Tax Deductions (Old Regime)

  • Section 80C (₹1.5 lakh): PPF, ELSS, LIC, EPF, NSC, Home Loan Principal, Tuition Fees
  • Section 80D (₹25,000-₹1 lakh): Health Insurance Premium
  • Section 80CCD(1B) (₹50,000): Additional NPS contribution
  • Section 24(b) (₹2 lakh): Home Loan Interest
  • HRA Exemption: Based on rent paid and salary
  • Standard Deduction: ₹50,000

Old vs New Tax Regime

FeatureOld RegimeNew Regime
Tax RatesHigher ratesLower rates
Deductions80C, 80D, HRA, etc.Only standard deduction
Suitable ForThose with high deductionsThose with fewer deductions
ComplexityMore documentation neededSimpler

Frequently Asked Questions

It depends on your deductions. If your total deductions (80C, 80D, HRA, home loan interest) exceed ₹3-4 lakh, old regime may be better. For lower deductions, new regime with its lower tax rates is beneficial. Use our calculator to compare both.

In the new tax regime for FY 2024-25, standard deduction is ₹75,000 (increased from ₹50,000). This is automatically deducted from your salary income. In old regime, it remains ₹50,000.

Yes, under Section 87A, if your taxable income is up to ₹7 lakh in new regime, you get a rebate of up to ₹25,000, making your tax liability zero. In old regime, rebate is ₹12,500 for income up to ₹5 lakh.

Salaried employees can switch between regimes every year. Business income taxpayers can switch only once in their lifetime from new to old regime. New regime is the default from FY 2023-24.

After calculating income tax, a 4% cess is added on the total tax amount. This cess funds health and education initiatives. It's applicable to all taxpayers regardless of the regime chosen.
Disclaimer

This calculator is provided for informational purposes only. The results are estimates and should not be considered as financial advice. Actual values may vary based on various factors. Please consult a certified financial advisor before making any financial decisions.

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