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India Income Tax Calculator
Estimate Indian income tax under old and new regimes with FY 2024-25 reference deductions
FAQ
Which tax regime is better for salaried employees?
The new regime has lower tax rates but no deductions. The old regime allows deductions (80C, 80D, HRA) which can reduce tax for those with significant investments.
What is the standard deduction for FY 2024-25?
The standard deduction is ₹50,000 for salaried individuals under both tax regimes.
What is the tax rebate under Section 87A?
If your taxable income is up to ₹7 lakh, you can claim a rebate of up to ₹25,000 under Section 87A in the new regime, making your tax zero.
How to Use the India Income Tax Calculator
Estimate your income tax under the old and new regimes and compare which saves more.
- Enter your annual income.
- Enter eligible deductions (80C, HRA, etc.) for the old regime.
- Compare tax under both regimes.
- Choose the regime with the lower liability.
Real-World Use Cases
Regime Choice
Decide between old (with deductions) and new (lower rates) regimes.
Tax Planning
See how 80C investments change your liability.
Tips & Common Mistakes
Tips
- The new regime has lower rates but removes most deductions.
- The old regime can win if you claim large deductions (80C, HRA, home loan).
Common Mistakes to Avoid
- Picking a regime without comparing both.
- Forgetting the standard deduction and rebate.