Income Tax Calculator
Calculate your income tax and compare old vs new tax regime for FY 2024-25 (AY 2025-26). Free, instant, and accurate.
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Frequently Asked Questions
Which tax regime is better - Old or New?
It depends on your deductions. If you have significant deductions (80C, HRA, home loan interest, etc.) totaling more than ₹3.75 lakh, the old regime may be better. Otherwise, the new regime with its lower rates and standard deduction of ₹75,000 is usually more beneficial.
What are the new tax slabs for FY 2024-25?
Under the new regime for FY 2024-25: Up to ₹3 lakh - Nil, ₹3-7 lakh - 5%, ₹7-10 lakh - 10%, ₹10-12 lakh - 15%, ₹12-15 lakh - 20%, Above ₹15 lakh - 30%. A standard deduction of ₹75,000 is also available.
Is rebate available under Section 87A?
Yes. Under the new regime, if taxable income is up to ₹7 lakh, full tax rebate is available (effectively zero tax). Under the old regime, rebate up to ₹12,500 is available if taxable income is up to ₹5 lakh.
What is Health and Education Cess?
A cess of 4% is applicable on total tax (including surcharge if any). It is calculated as: Cess = (Basic Tax + Surcharge) × 4%. This cess is used to fund health and education initiatives.