Income Tax Calculator (FY 2024-25)
Not sure whether the new or old tax regime saves you more? Enter your income and deductions and this shows your tax under both side by side. Covers FY 2024-25 with standard deduction, 87A rebate, and cess included.
This calculator is designed for India. Rates and rules are based on Indian regulations. Outside India? Try our Tax Bracket Calculator →
How to use
- Enter your gross annual income, before any deductions.
- Choose your age group and whether you're salaried. This affects your exemption limits and standard deduction.
- For the old regime comparison, add your 80C, 80D, HRA and other deductions.
- You'll see both regimes side by side so you can pick whichever saves you more.
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India has two income tax regimes for FY 2024-25 (AY 2025-26). The new regime is now the default and offers lower slab rates but removes most deductions. The old regime has higher rates but allows deductions under Section 80C (up to ₹1.5L), 80D (health insurance), HRA, home loan interest, and others. A standard deduction of ₹75,000 applies under the new regime for salaried employees.
New regime tax slabs: ₹0–3L at nil, ₹3–7L at 5%, ₹7–10L at 10%, ₹10–12L at 15%, ₹12–15L at 20%, above ₹15L at 30%. The Section 87A rebate makes net tax zero for income up to ₹7 lakhs under the new regime. A 4% health and education cess is added on the computed tax in both regimes.
Frequently Asked Questions
Which tax regime is better for me?
If your total eligible deductions (80C, 80D, HRA, home loan interest, NPS, etc.) exceed roughly ₹3.75 lakhs, the old regime generally saves more tax. Below that threshold, the new regime is usually cheaper. The break-even point varies, use the calculator to compare both for your specific income and deductions.
What is the Section 87A rebate?
Under the new regime, taxpayers with taxable income up to ₹7 lakhs receive a full rebate equal to their computed tax, effectively paying zero income tax. Under the old regime, the rebate applies for income up to ₹5 lakhs.
Is standard deduction available in the new regime?
Yes. From FY 2024-25, a standard deduction of ₹75,000 is available to salaried employees and pensioners under the new regime (increased from ₹50,000). The old regime also has a ₹50,000 standard deduction.
Can I switch between regimes every year?
Salaried individuals without business income can switch between the old and new regime every financial year. Those with business or professional income who opt out of the new regime can only switch back once.
Disclaimer: Results are estimates for informational purposes only and do not constitute financial, tax, or investment advice. Figures may vary based on actual terms. Always consult a qualified financial advisor before making financial decisions.