Income Tax Calculator
Calculate & compare your income tax for FY 2024-25 under Old and New tax regimes instantly.
Income Tax Calculator
FY 2024-25₹0₹50 Lakh
Deductions (Old Regime Only)
Total Tax Payable
₹0
In-Hand Income
₹0
Effective Tax Rate
0%
Tax
0%
Gross Income
₹0
Total Deductions
₹0
Taxable Income
₹0
Tax + 4% Cess
₹0
You save under the
New Regime
by ₹0
How Income Tax is Calculated in India
Income tax in India is calculated based on slab rates applicable to your total taxable income. From FY 2024-25, the New Tax Regime is the default regime. However, taxpayers can opt for the Old Tax Regime if it benefits them through deductions and exemptions.
New Tax Regime Slabs (FY 2024-25)
| Income Slab | Tax Rate |
|---|---|
| ₹0 - ₹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% |
* Standard Deduction of ₹50,000 is allowed. Rebate u/s 87A for income up to ₹7 Lakh (tax payable becomes nil).
Old Tax Regime Slabs (Below 60 Years)
| Income Slab | Tax Rate |
|---|---|
| ₹0 - ₹2,50,000 | Nil |
| ₹2,50,001 - ₹5,00,000 | 5% |
| ₹5,00,001 - ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
* Standard Deduction of ₹50,000. Rebate u/s 87A for income up to ₹5 Lakh. All deductions (80C, 80D, HRA, etc.) allowed.
Old vs New Tax Regime
Old Regime Pros
- • Allows 80C, 80D, HRA, LTA deductions
- • Better for heavy investments & home loans
- • More tax-saving options available
New Regime Pros
- • Lower slab rates & higher zero-tax limit
- • No need to invest just to save tax
- • Simple, hassle-free filing