Income Tax Calculator India 2024-25 & 2025-2026

Income Tax Calculator India

Calculate your income tax for FY 2024-25 & 2025-2026 with our easy-to-use calculator

New Tax Regime is default from FY 2023-24

Enter Your Income Details

Financial Year

Tax Regime

Gross Annual Income (₹)

₹

Age Group

Below 60

60 to 80

Above 80

Tax Slabs for FY 2024-25

New Tax Regime

Up to ₹3,00,000: Nil

₹3,00,001 to ₹6,00,000: 5%

₹6,00,001 to ₹9,00,000: 10%

₹9,00,001 to ₹12,00,000: 15%

₹12,00,001 to ₹15,00,000: 20%

Above ₹15,00,000: 30%

Old Tax Regime

Up to ₹2,50,000: Nil

₹2,50,001 to ₹5,00,000: 5%

₹5,00,001 to ₹10,00,000: 20%

Above ₹10,00,000: 30%

Your Tax Result

Annual Income

₹0

Total Deductions: ₹0

Taxable Income: ₹0

Income Tax: ₹0

Cess (4%): ₹0

Total Tax: ₹0

Monthly Deduction

₹0

Frequently Asked Questions

What is the difference between Old and New Tax Regime?

The Old Tax Regime allows for various deductions and exemptions (like HRA, 80C, 80D, etc.) but has higher tax rates. The New Tax Regime offers lower tax rates but with very limited deductions. The New Tax Regime is now the default option from FY 2023-24.

Which tax regime should I choose?

This depends on your investments and eligible deductions. If you have significant investments in tax-saving instruments (like PPF, ELSS, insurance premiums) and substantial HRA exemption, the Old Regime might be beneficial. Otherwise, the New Regime might result in lower tax liability. Use this calculator to compare both options.

What is the rebate under section 87A?

Under section 87A, individuals with total income up to ₹5 lakh are eligible for a rebate of up to ₹12,500 in the Old Regime and up to ₹25,000 in the New Regime. This effectively means no tax for individuals with income up to ₹5 lakh in the New Regime and up to ₹7 lakh in certain cases.