Income Tax Calculator India FY 2024-25
Compare your tax liability under the Old Regime vs New Regime (Budget 2024 updated).
Income Sources
Deductions (Old Regime Only)
About Income Tax Calculator
Use our free online Income Tax Calculator India to calculate your tax liability for FY 2024-25 (AY 2025-26). Compare Old vs New Tax Regime, apply Section 80C, 80D deductions, and find out which regime saves you more tax. Updated with latest Union Budget 2024 tax slabs and ₹75,000 standard deduction under new regime.
How to Use This Tool
Select Currency
Choose your preferred currency from the dropdown (INR, USD, EUR, GBP, etc.) for display.
Enter Your Income
Input your gross salary, interest income from FDs/savings, and any other income sources.
Add Deductions (Old Regime)
Enter your tax-saving investments under 80C (PPF, ELSS, LIC), health insurance premium under 80D, NPS under 80CCD(1B), and HRA exemption if applicable.
Calculate & Compare
Click 'Calculate Tax Liability' to see your tax payable under both Old and New regime with a recommendation on which is better for you.
Frequently Asked Questions
What is the new tax regime for FY 2024-25?
The new tax regime offers lower tax rates but with limited deductions. Tax slabs are: 0-3L (Nil), 3-7L (5%), 7-10L (10%), 10-12L (15%), 12-15L (20%), >15L (30%). Standard deduction is ₹75,000.
Which tax regime is better - Old or New?
If you have significant investments in 80C, 80D, HRA, and home loan interest, Old Regime may be better. For those with fewer deductions, New Regime usually results in lower tax.
What is rebate under section 87A?
Under Old Regime, income up to ₹5 lakh gets full tax rebate. Under New Regime, income up to ₹7 lakh is tax-free due to 87A rebate.
Is this income tax calculator accurate?
Yes, our calculator uses the official tax slabs and deduction limits as per Income Tax Act. For complex cases like capital gains or multiple employers, consult a CA.
Key Features
- •Multi-Currency Support (INR, USD, EUR, GBP, AED, etc.)
- •Old vs New Tax Regime Comparison
- •Updated FY 2024-25 Tax Slabs
- •Section 80C, 80D, 80CCD Deductions
- •Rebate under Section 87A
- •4% Health & Education Cess Included
- •Instant Tax Savings Recommendation
Why Income Tax Calculator Matters
Our income tax calculator helps salaried employees, freelancers, and professionals estimate their tax liability in seconds. Make informed decisions on tax-saving investments, choose the right tax regime, and plan your finances better. 100% free, no signup required.