Income Tax Calculator India 2024-25
Calculate your income tax under the New Regime or Old Regime for FY 2024-25. Compare both to choose the best option.
Income Tax Slabs FY 2024-25
New Tax Regime (Default from FY 2023-24)
Up to ₹3L: Nil | ₹3L–7L: 5% | ₹7L–10L: 10% | ₹10L–12L: 15% | ₹12L–15L: 20% | Above ₹15L: 30%
Under Section 87A, tax rebate up to ₹25,000 applies if income ≤ ₹7 lakh. Standard deduction of ₹75,000 for salaried employees.
Old Tax Regime
Up to ₹2.5L: Nil | ₹2.5L–5L: 5% | ₹5L–10L: 20% | Above ₹10L: 30%. Benefits: 80C (₹1.5L), 80D, HRA, LTA deductions allowed.
Which Regime to Choose?
Use the New Regime if your total deductions are below ₹4–5 lakh. If you have significant investments, home loan interest, HRA, and medical insurance, the Old Regime may save more tax.
Frequently Asked Questions
What is the basic exemption limit?
₹3 lakh under New Regime, ₹2.5 lakh under Old Regime for FY 2024-25.
Which regime is better?
New Regime for those with fewer deductions. Old Regime for those with 80C, HRA, 80D exceeding ₹4-5 lakh.
Is there a 4% cess?
Yes. A Health and Education Cess of 4% is applied on total income tax in India.