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📊 Income Tax Calculator 2024-25 — New vs Old Regime

Calculate your exact income tax liability for FY 2024-25. Compare New Tax Regime and Old Tax Regime. Includes 87A rebate, surcharge, and 4% health & education cess.

🧾 Income Tax Calculator FY 2024-25

Enter your annual income and select tax regime

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Tax Slab Comparison — New vs Old Regime (FY 2024-25)

Income SlabNew Regime RateOld Regime Rate
₹0 – ₹2,50,000NilNil
₹2,50,001 – ₹3,00,000Nil5%
₹3,00,001 – ₹5,00,0005%5%
₹5,00,001 – ₹7,00,0005%20%
₹7,00,001 – ₹10,00,00010%20%
₹10,00,001 – ₹12,00,00015%30%
₹12,00,001 – ₹15,00,00020%30%
Above ₹15,00,00030%30%

💡 Rebate u/s 87A

New Regime: If taxable income ≤ ₹7 Lakh, tax becomes NIL (full rebate). Old Regime: If taxable income ≤ ₹5 Lakh, tax becomes NIL. Standard deduction of ₹50,000 available in both regimes for salaried employees.

Income Tax FAQ

It depends on your deductions. If you have significant deductions (80C investments, HRA, home loan interest, 80D insurance), the Old Regime may be better. If your deductions are minimal, the New Regime usually results in lower tax for most income levels above ₹7 Lakh. A CA consultation helps determine the optimal choice for your specific situation.
Salaried individuals can switch regimes every financial year while filing their ITR. However, if you have business income, you can only switch to the old regime once — after that, you cannot switch back to the new regime.
Surcharge is an additional tax on income tax for high earners: 10% surcharge if income is ₹50L–₹1Cr; 15% if ₹1Cr–₹2Cr; 25% if ₹2Cr–₹5Cr; 37% (Old) or 25% (New) if above ₹5Cr. A 4% Health and Education Cess is applied on (tax + surcharge).