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Home/Calculators/Income Tax Calculator (India)
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Income Tax Calculator (India)

Calculate Indian income tax for FY 2024-25. Compare Old Regime vs New Regime side by side with slab-wise breakdown.

Enter your total annual income before any deductions

Age as on 31st March 2025. Affects Old Regime slabs only.

Deductions (for Old Regime comparison)

These deductions apply only under the Old Regime. The New Regime allows only the standard deduction of Rs 75,000.

PPF, ELSS, EPF, LIC premium, NSC, etc.

Health insurance premium for self, family & parents

Exempt portion of House Rent Allowance

80E, 80G, 24(b) home loan interest, NPS 80CCD(1B), etc.

Tax Slab Reference — FY 2024-25 (AY 2025-26)

New Regime

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: Rs 75,000 | Rebate u/s 87A up to Rs 7L taxable income

Old Regime (Below 60)

Up to 2,50,000Nil
2,50,001 – 5,00,0005%
5,00,001 – 10,00,00020%
Above 10,00,00030%

Standard Deduction: Rs 50,000 | Rebate u/s 87A up to Rs 5L taxable income

Senior (60-80): Nil slab up to Rs 3L | Super Senior (80+): Nil slab up to Rs 5L, no 5% slab

About Income Tax Calculator (India)

Free Indian income tax calculator for FY 2024-25 (AY 2025-26) that compares tax under the Old Regime and New Regime side by side. Enter your annual gross income, select your age group, and add deductions like Section 80C (up to 1.5 lakh), Section 80D (medical insurance), and HRA exemption to see which tax regime saves you more. The tool shows a detailed slab-wise breakdown for both regimes, including taxable income, tax before cess, Health & Education Cess (4%), total tax payable, and effective tax rate. Updated with the latest Budget 2024 changes including the increased standard deduction of Rs 75,000 under the New Regime and revised tax slabs. Rebate under Section 87A is automatically applied where applicable. 100% browser-based, no signup needed, completely free.

Frequently Asked Questions

What is the difference between the Old Regime and New Regime?
The Old Regime allows various deductions and exemptions (like 80C, 80D, HRA) but has higher base tax rates. The New Regime (introduced in Budget 2020, revised in 2023 and 2024) offers lower tax rates with more slabs but allows very few deductions — primarily only the standard deduction of Rs 75,000. The best regime depends on how many deductions you can claim under the Old Regime.
What deductions are available under the Old Regime?
Under the Old Regime, you can claim Section 80C (up to Rs 1.5 lakh for PPF, ELSS, EPF, life insurance, etc.), Section 80D (medical insurance premiums), HRA exemption, standard deduction of Rs 50,000, Section 80E (education loan interest), Section 80G (donations), home loan interest under Section 24(b), and many other deductions. These deductions can significantly reduce your taxable income.
Who should choose the New Regime?
The New Regime is generally better for taxpayers who do not have significant deductions — such as those who don't have HRA, home loan, or major 80C investments. If your total deductions under the Old Regime are less than approximately Rs 3.75 lakh (varies by income level), the New Regime will likely result in lower tax. Use this calculator to compare both regimes with your actual numbers.
How is the Health & Education Cess calculated?
Health & Education Cess is calculated at 4% on the total income tax amount (after applying rebate under Section 87A if applicable). For example, if your computed tax is Rs 50,000, the cess would be Rs 2,000 (4% of 50,000), making your total tax Rs 52,000. This cess applies equally under both the Old and New Regimes.
Is rebate under Section 87A applicable?
Yes. Under the Old Regime, if your total taxable income is up to Rs 5,00,000, you get a rebate of up to Rs 12,500 — effectively making your tax zero. Under the New Regime (FY 2024-25), if your taxable income is up to Rs 7,00,000, you get a rebate of up to Rs 25,000 — also making your tax zero. The calculator automatically applies this rebate.
Can I switch between Old and New Regime every year?
Yes, if you are a salaried individual or pensioner, you can choose between the Old and New Regime every financial year. However, if you have business income, once you opt out of the New Regime, you can switch back only once. The New Regime is the default regime from FY 2023-24 onwards, so you need to specifically opt for the Old Regime if you want those deductions.

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