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Income Tax Calculator

🧾 Tax & Savings

India income tax under old & new regime.

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ΣIncome Tax Calculation (FY 2024-25)

Formula
Tax = Σ (Slab Income × Slab Rate) + 4% Health & Education Cess
VariableDescription
New Regime Slabs₹0-3L: 0% | ₹3-6L: 5% | ₹6-9L: 10% | ₹9-12L: 15% | ₹12-15L: 20% | >₹15L: 30%
Old Regime Slabs₹0-2.5L: 0% | ₹2.5-5L: 5% | ₹5-10L: 20% | >₹10L: 30%
Cess4% on total tax payable
Rebate u/s 87A₹25,000 rebate if income ≤ ₹7L (new regime)
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Standard deduction of ₹75,000 available in new regime for salaried employees.

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Income Tax Calculator India FY 2024-25 — Old vs New Regime

Our income tax calculator India for FY 2024-25 computes your tax liability under both the old and new tax regimes so you can choose the one that saves you more money. The new regime (default since FY 2023-24) offers lower tax rates but fewer deductions, while the old regime allows HRA, 80C, 80D, home loan interest, and other deductions that can significantly reduce taxable income for those with higher deductions.

New Regime slabs (FY 2024-25): ₹0–3 lakh: 0%, ₹3–7 lakh: 5% (with ₹25,000 rebate under Sec 87A making effective tax zero), ₹7–10 lakh: 10%, ₹10–12 lakh: 15%, ₹12–15 lakh: 20%, above ₹15 lakh: 30%. Standard deduction of ₹75,000 is available in the new regime for salaried employees (increased from ₹50,000 in Budget 2024).

Who benefits from the old regime? Employees with HRA (major city allowance), home loan interest deduction (₹2 lakh), 80C investments (₹1.5 lakh), 80D health insurance (₹25,000–₹50,000), and NPS (₹50,000 extra under 80CCD1B). If total deductions exceed ₹3.75 lakh, the old regime typically saves more. Use our income tax calculator 2024-25 to compare both regimes with your actual numbers.

income tax calculator India 2024-25new tax regime calculatorold tax regime calculatorincome tax calculator FY 2024-25tax slab calculator India

Frequently Asked Questions

Which tax regime should I choose?+

Choose the new regime if your deductions are below ₹3.75 lakh (HRA + 80C + 80D etc.). Choose the old regime if deductions exceed this threshold.

What is Section 87A rebate?+

Under the new regime, if your total taxable income does not exceed ₹7 lakh, you get a 100% tax rebate — effectively zero tax.

What is a Income Tax Calculator?+

A Income Tax Calculator is a free online tool that instantly computes results as you adjust sliders. It uses standard industry formulas and shows visual charts.

Is the Income Tax Calculator free?+

Yes, completely free with no registration, no subscription, and no hidden charges. All calculations run in your browser.

How accurate is the Income Tax Calculator?+

Results are based on standard formulas and are accurate for planning purposes. Always consult a qualified professional for formal decisions.

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Disclaimer: Results are for informational purposes only and do not constitute financial, medical, or legal advice. Always consult a qualified professional before making important decisions. Read full disclaimer →

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