What is a Income Tax Calculator?
India Income Tax Calculator for FY 2024-25 (AY 2025-26). Compare your tax liability under both the Old Tax Regime and the New Tax Regime as revised in Budget 2024. Enter your income and deductions for an instant side-by-side comparison with a clear recommendation on which regime saves you more tax.
Benefits of Using Rupee Logic Income Tax Calculator
Old vs New Comparison
Instantly compare both tax regimes side-by-side with your actual numbers — clear recommendation with exact savings.
All Deductions Covered
Factor in 80C, 80D, HRA, home loan interest Sec 24b, NPS 80CCD(1B), and other deductions in one place.
FY 2024-25 Updated
Incorporates Budget 2024 changes: ₹75K standard deduction, revised slabs, and updated 87A rebate rules.
Plan Tax Savings
See exactly how much each deduction saves you — plan your 80C, NPS, and health insurance investments effectively.
Frequently Asked Questions — Income Tax Calculator
The New Regime is generally better for: those earning below ₹7.75 lakh (tax is nil after standard deduction and 87A rebate); those with limited deductions below ₹3-3.5 lakh total; those without HRA or home loan interest deductions. The Old Regime is better for those with significant 80C (₹1.5L) plus HRA plus home loan interest plus NPS contributions totaling ₹4 lakh or more. Use our calculator for your specific numbers.
Section 87A provides a rebate equal to the tax payable up to ₹25,000 if net taxable income does not exceed ₹7,00,000 under the New Regime (₹5,00,000 under Old Regime). Under the New Regime, income up to ₹7 lakh after ₹75,000 standard deduction meaning gross income up to ₹7.75 lakh is effectively tax-free. From FY 2024-25, special rate incomes like STCG are excluded from the 87A rebate.
New Regime slabs: Up to ₹3L is nil; ₹3L to ₹7L is 5%; ₹7L to ₹10L is 10%; ₹10L to ₹12L is 15%; ₹12L to ₹15L is 20%; above ₹15L is 30%. Add 4% Health and Education Cess on total tax. Surcharge applies: 10% for income ₹50L-₹1Cr; 15% for ₹1Cr-₹2Cr; 25% for ₹2Cr-₹5Cr; 25% above ₹5Cr (reduced from 37% in Budget 2023).
Under Budget 2024, standard deduction for salaried employees was increased to ₹75,000 per annum under the New Tax Regime (up from ₹50,000). Under the Old Tax Regime, standard deduction remains ₹50,000. This makes the New Regime more attractive — effective tax-free income under New Regime is ₹3L basic exemption plus ₹75K standard deduction plus 87A rebate — totaling approximately ₹7.75 lakh.
Salaried individuals without business income can switch between Old and New Tax Regime every financial year at the time of filing ITR. You are not locked permanently into any regime. However, individuals with business income (sole proprietors, freelancers) can switch only once — once switched from New to Old Regime with business income, they cannot switch back to New Regime.