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💰 Income Tax Calculator India

Income Tax Calculator India 2024-25. Compare New vs Old tax regime. Calculate tax on salary, business income. Includes 87A rebate, cess, surcharge. Free and accurate.

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About Income Tax Calculator

India has two income tax regimes since Financial Year 2020-21 — the Old Tax Regime with deductions and the New Tax Regime with lower rates but no deductions. Choosing the right regime can save thousands of rupees every year. Our calculator helps you compare both and make the right choice.

The New Tax Regime is now the default regime for FY 2024-25. It offers lower tax rates and a standard deduction of Rs 75,000 for salaried employees. The Old Tax Regime allows deductions under Section 80C, 80D, HRA exemption, and other sections which can significantly reduce taxable income for people with high investments and expenses.

Key Tax Saving Sections (Old Regime)

Section 80C allows up to Rs 1.5 lakh deduction for PPF, ELSS, LIC, home loan principal, and tuition fees. Section 80D allows up to Rs 25,000 for health insurance premium. HRA exemption for rent paid. Section 24 for home loan interest up to Rs 2 lakh. NPS contribution under Section 80CCD.

📖 How to Use
1
Enter Your Income
Type your annual salary or income in rupees
2
Choose Regime
Select New Tax Regime or Old Tax Regime or compare both
3
View Tax Breakdown
See your income tax, cess, effective rate and in-hand salary
❓ Frequently Asked Questions
What is the income tax slab for 2024-25 under new regime?+
Under the new regime: No tax up to Rs 3 lakh. 5% from Rs 3-7 lakh. 10% from Rs 7-10 lakh. 15% from Rs 10-12 lakh. 20% from Rs 12-15 lakh. 30% above Rs 15 lakh. With 87A rebate, no tax payable up to Rs 7 lakh income.
Which regime is better for a Rs 10 lakh salary?+
It depends on your deductions. If you have Rs 1.5 lakh in 80C investments plus HRA plus 80D, the old regime may save more tax. Use the Compare Both option in our calculator to see exact savings.
What is Section 87A rebate?+
Under the new regime, if your total income does not exceed Rs 7 lakh, you get a full tax rebate under Section 87A meaning you pay zero income tax. Under the old regime the rebate applies up to Rs 5 lakh income.
Is standard deduction available under new regime?+
Yes, a standard deduction of Rs 75,000 is available for salaried employees and pensioners under the new tax regime from FY 2024-25 onwards.
What is the surcharge on income tax?+
Surcharge applies on income above Rs 50 lakh. 10% surcharge for Rs 50 lakh to Rs 1 crore. 15% for Rs 1 crore to Rs 2 crore. 25% for Rs 2 crore to Rs 5 crore. 37% above Rs 5 crore.