About the Income Tax Calculator
Estimate your income tax under the new tax regime for FY 2024-25. Enter your annual salary income and the calculator applies the ₹75,000 standard deduction, the new-regime slabs, the Section 87A rebate (nil tax up to ₹7 lakh taxable) and 4% cess to show your approximate tax.
How the new-regime slabs work
Under the new regime, income is taxed in slabs after a ₹75,000 standard deduction for salaried individuals: nil up to ₹3 lakh, 5% from ₹3–7 lakh, 10% ₹7–10 lakh, 15% ₹10–12 lakh, 20% ₹12–15 lakh and 30% above ₹15 lakh. A Section 87A rebate makes tax nil if taxable income is up to ₹7 lakh.
New regime vs old regime
The new regime has lower slab rates but removes most deductions. The old regime has higher rates but lets you claim 80C, 80D, HRA and home-loan interest. Which is better depends on your deductions — this tool estimates the new regime; compare with your old-regime tax before deciding.
Income Tax Calculator — frequently asked questions
Is there tax up to ₹7 lakh income?
Under the new regime, a Section 87A rebate makes your tax nil if your taxable income (after the standard deduction) is up to ₹7 lakh. With the ₹75,000 standard deduction, salaried income up to about ₹7.75 lakh can be tax-free.
What is the standard deduction in the new regime?
For FY 2024-25, salaried individuals get a ₹75,000 standard deduction under the new regime, applied automatically in this calculator.
Does this include the old regime?
This calculator estimates the new regime. The old regime uses different rates and allows deductions like 80C, 80D and HRA — compare both before filing.
How can I reduce my tax?
In the old regime, investments like ELSS, PPF and NPS reduce taxable income under 80C/80CCD. The new regime relies on lower rates rather than deductions.