Income Tax Calculator (FY 2024–25)
1. Select the tax regime year.
2. Enter your annual income.
3. Enter your contributions to NPS and any other deductions.
4. Click “Calculate Tax” to see taxable amount, slab-wise breakdown, and rebate (if applicable).
5. The calculator will also suggest which regime may save you more.
Income Tax Calculator – Old Regime vs New Regime (FY 2024–25)
The Income Tax Calculator is an easy-to-use tool that helps you estimate your annual tax liability under both the Old Tax Regime and the New Tax Regime. Whether you are a salaried employee, self-employed, or a pensioner, this calculator allows you to compare the two systems instantly and choose the most beneficial one for your financial situation.
Why Use an Income Tax Calculator?
With changes in the tax slabs and deductions every year, manually calculating your taxes can be time-consuming and prone to errors. This calculator:
- Calculates tax instantly under both regimes
- Shows eligible deductions (NPS, Section 80C, etc.)
- Highlights tax rebate eligibility under Section 87A
- Helps you decide which regime saves you more money
How to Use the Calculator
- Select the applicable regime year (Old Regime FY 2024–25 or New Regime FY 2024–25).
- Enter your annual income.
- Fill in your contribution to NPS and any other deductions you are eligible for.
- Click the Calculate button to view your taxable income, tax slab details, and rebate calculation.
- Compare the results for Old vs New Regime to see which one offers higher savings.
Tax Slabs for FY 2024–25
Old Tax Regime
- Up to ₹2,50,000 – No Tax
- ₹2,50,001 to ₹5,00,000 – 5%
- ₹5,00,001 to ₹10,00,000 – 20%
- Above ₹10,00,000 – 30%
New Tax Regime
- Up to ₹3,00,000 – No Tax
- ₹3,00,001 to ₹6,00,000 – 5%
- ₹6,00,001 to ₹9,00,000 – 10%
- ₹9,00,001 to ₹12,00,000 – 15%
- ₹12,00,001 to ₹15,00,000 – 20%
- Above ₹15,00,000 – 30%
Benefits of Comparing Old and New Regime
By comparing the Old Tax Regime with the New Tax Regime, you can:
- Maximize your tax savings
- Identify the best investment strategy for deductions
- Plan your financial year effectively
Disclaimer
This calculator is for informational purposes only. The results are based on the provided inputs and the tax slabs for the relevant financial year. Please consult a qualified tax professional for personalized advice. We assume no liability for any discrepancies in the calculations.