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Income Tax Calculator (India)
Tax Slab Breakdown
Deduction Breakdown
| Section | Amount (₹) |
|---|---|
| Standard Deduction | 50,000 |
How Income Tax Calculation Works?
This calculator estimates your income tax liability as per the selected regime and category for FY 2024-25. Enter your gross income, select regime and category, and add deductions (if any) to see your tax, slab-wise breakup, and effective tax rate.
- Old Regime: Allows various deductions and exemptions. Tax slabs differ by age category.
- New Regime: Lower rates, but most deductions/exemptions not allowed. Standard deduction is ₹75,000.
The charts and tables above help you visualize your tax calculation, slab-wise tax, and deduction impact.
Old Regime vs New Regime: How the Tax Is Computed
India offers two ways to calculate your income tax for FY 2024-25: the old regime, which allows deductions like Section 80C, 80D and HRA in exchange for higher slab rates, and the new regime, which has lower rates but very few deductions. This calculator computes both paths using the actual slab structure, rebate and cess rules.
Slabs & Key Rules Used
New regime slabs: 0% up to ₹3L, 5% up to ₹7L, 10% up to ₹10L, 15% up to ₹12L, 20% up to ₹15L, 30% above ₹15L, with a ₹75,000 standard deduction. Old regime slabs (individuals below 60): 0% up to ₹2.5L, 5% up to ₹5L, 20% up to ₹10L, 30% above ₹10L (higher exemption thresholds apply for senior and super senior citizens), with a ₹50,000 standard deduction plus deductions such as Section 80C (up to ₹1,50,000), 80D, home loan interest and NPS 80CCD(1B).
Income tax slabs, rebate limits and standard deduction amounts are announced in the annual Union Budget and can change every financial year. Always verify the applicable rules for your assessment year on the official Income Tax Department website or with a tax professional before filing your return.
Income Tax Calculator FAQs
What's the difference between the old and new tax regime?
The old regime has higher slab rates but allows deductions such as Section 80C (up to ₹1,50,000), 80D, HRA and home loan interest. The new regime has lower slab rates but allows very few deductions, mainly a flat ₹75,000 standard deduction.
What is the Section 87A rebate?
Section 87A gives a full tax rebate (making tax payable nil on regular income) if your taxable income does not exceed ₹7,00,000 under the new regime or ₹5,00,000 under the old regime, up to a capped rebate amount.
Are the tax slabs different for senior citizens?
Under the old regime, senior citizens (60-79 years) get a higher basic exemption of ₹3,00,000 and super senior citizens (80+) get ₹5,00,000, compared to ₹2,50,000 for individuals below 60. The new regime slabs are the same for all age groups.
What is the Health & Education Cess?
A 4% Health & Education Cess is added on top of your income tax (after rebate and any surcharge) under both regimes. It funds government health and education initiatives and is not optional.
When does surcharge apply on income tax?
Surcharge applies only to higher incomes: 10% if taxable income exceeds ₹50 lakh, 15% above ₹1 crore, 25% above ₹2 crore, and 37% above ₹5 crore, calculated on the tax amount before cess.
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