Which tax regime is better, New or Old?

It depends on your deductions. Significant Section 80C or HRA claims may favor the Old Regime, while fewer deductions often favor the lower New Regime rates.

Does this calculator work for non-Indian tax systems?

No, it is built specifically around India's income tax slabs for FY 2024-25 and does not apply to other countries' tax systems.

What is the Health & Education Cess?

A 4% surcharge applied on top of the calculated income tax, used to fund health and education initiatives.

Income Tax Calculator

Estimate income tax under India's FY 2024-25 New vs. Old tax regime

Annual Income (₹)

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What is the Income Tax Calculator?

The Income Tax Calculator estimates your annual income tax liability based on India's tax slab system for FY 2024-25, letting you compare the New Regime (lower rates, fewer deductions) against the Old Regime (higher rates, but deductions like Section 80C and HRA exemption available). This calculator is based on Indian income tax slabs for FY 2024-25 and is not applicable to any other country's tax system — US, UK, Canadian and Australian income tax use entirely different brackets, thresholds and rules.

How to Use the Income Tax Calculator

Choose a regime — New Regime or Old Regime.
Enter your annual income.
Under the Old Regime, optionally enter your Section 80C deduction (up to ₹1,50,000) and any HRA exemption you're eligible for — see the HRA Calculator to work that out first.
Read the result — taxable income, tax before cess, 4% Health & Education Cess, total tax payable, net take-home income, and your effective tax rate.

New Tax Regime Slabs (FY 2024-25)

Income Slab	Tax Rate
Up to ₹3,00,000	0%
₹3,00,001 – ₹6,00,000	5%
₹6,00,001 – ₹9,00,000	10%
₹9,00,001 – ₹12,00,000	15%
₹12,00,001 – ₹15,00,000	20%
Above ₹15,00,000	30%

A standard deduction of ₹75,000 is applied under the New Regime, and a tax rebate under Section 87A brings tax to zero for taxable income up to ₹7,00,000.

Old Tax Regime Slabs (FY 2024-25)

Income Slab	Tax Rate
Up to ₹2,50,000	0%
₹2,50,001 – ₹5,00,000	5%
₹5,00,001 – ₹10,00,000	20%
Above ₹10,00,000	30%

A standard deduction of ₹50,000 applies under the Old Regime, along with Section 80C (up to ₹1,50,000), HRA exemption and other deductions if claimed. Tax is zero for taxable income up to ₹5,00,000 under the Section 87A rebate.

Example Calculation

Under the New Regime, an annual income of ₹8,00,000 gives a taxable income of ₹8,00,000 − ₹75,000 (standard deduction) = ₹7,25,000. Tax works out to roughly ₹32,500, plus 4% cess of ₹1,300, for a total tax payable of about ₹33,800.

Frequently Asked Questions

It depends on how many deductions you can claim. If you have significant Section 80C investments, HRA, or other exemptions, the Old Regime may work out cheaper. If you claim few deductions, the New Regime's lower slab rates often result in less tax. Calculate both here and compare.

No, it is built specifically around India's income tax slabs for FY 2024-25. It cannot be used to estimate US federal tax, UK income tax, Canadian tax, or Australian tax, as each country has its own brackets and rules.

It's a 4% surcharge applied on top of your calculated income tax (not on your total income), used to fund health and education initiatives. It's added automatically to arrive at your total tax payable.

This is an estimate for general planning only, not tax advice — consult a Chartered Accountant or tax professional for your exact liability.