Income Tax Calculator (FY 2024-25)
Compare old and new tax regimes. Calculate your tax liability with slab-wise breakdown.
Deductions (for Old Regime comparison)
Total Tax Payable
₹0
Taxable Income
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Take-Home Income
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Regime Comparison
Old Regime Tax₹0
New Regime Tax₹0
Tax vs Take-Home
Slab-wise Tax Breakdown
| Income Slab | Rate | Taxable Amount | Tax |
|---|
Income Tax Slabs for FY 2024-25
New Regime (Default)
| Income Slab | Tax Rate |
|---|---|
| Up to ₹3,00,000 | Nil |
| ₹3,00,001 - ₹7,00,000 | 5% |
| ₹7,00,001 - ₹10,00,000 | 10% |
| ₹10,00,001 - ₹12,00,000 | 15% |
| ₹12,00,001 - ₹15,00,000 | 20% |
| Above ₹15,00,000 | 30% |
Rebate under Section 87A: If taxable income ≤ ₹7,00,000, tax is nil.
Old Regime
| Income Slab | Tax Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 - ₹5,00,000 | 5% |
| ₹5,00,001 - ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Key Deductions Under Old Regime
- Section 80C (up to ₹1.5L): PPF, ELSS, EPF, life insurance, tuition fees, home loan principal
- Section 80D (up to ₹25K-1L): Health insurance premiums for self, family, and parents
- Section 24 (up to ₹2L): Home loan interest deduction
- HRA Exemption: For salaried individuals paying rent
- Section 80CCD(1B) (up to ₹50K): Additional NPS contribution
Tips to Save Income Tax
- Max out Section 80C. Invest ₹1.5 lakhs in PPF, ELSS, or EPF for maximum deduction.
- Get health insurance. Section 80D deduction of up to ₹25,000 (₹50,000 for seniors) for self and ₹25,000 for parents.
- Compare both regimes before choosing. The better option depends on your specific deductions.
- Claim HRA properly if you pay rent. This can save significant tax under the old regime.
- Use NPS for extra savings. Additional ₹50,000 deduction under Section 80CCD(1B) beyond the 80C limit.
Calculate Your Tax
Enter your income and deductions to compare both tax regimes instantly.
Calculate NowFrequently Asked Questions
If you have significant deductions (80C, 80D, HRA totaling ₹3-4 lakhs+), old regime may save more. If you have few deductions, the new regime with lower rates is usually better. Use this calculator to compare both.
The standard deduction is ₹75,000 for both old and new regimes. This flat deduction is available to all salaried employees without requiring any proof.
Under new regime, taxable income up to ₹7 lakhs gets full rebate (zero tax). Under old regime, the limit is ₹5 lakhs. Income up to these limits is effectively tax-free.
Yes, this calculator includes the 4% Health and Education Cess on top of the income tax amount in all calculations.