Calculate your income tax liability for FY 2024-25 (AY 2025-26). Compare between Old Tax Regime and New Tax Regime to find which option saves you more tax. Get detailed breakdown with deductions and exemptions.
| Income Slab | Tax Rate |
|---|---|
| Up to ₹3,00,000 | Nil |
| ₹3,00,001 - ₹7,00,000 | 5% |
| ₹7,00,001 - ₹10,00,000 | 10% |
| ₹10,00,001 - ₹12,00,000 | 15% |
| ₹12,00,001 - ₹15,00,000 | 20% |
| Above ₹15,00,000 | 30% |
Standard Deduction: ₹75,000
| Income Slab | Tax Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 - ₹5,00,000 | 5% |
| ₹5,00,001 - ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Standard Deduction: ₹50,000
PPF, ELSS, Life Insurance, EPF, NSC, Tax-saving FDs, Home Loan Principal, Tuition Fees
Health Insurance Premium for self, spouse, children, and parents
Additional NPS contribution over and above 80C limit
Home Loan Interest for self-occupied property
If you have significant deductions under 80C, 80D, HRA, and home loan, the Old Regime might save more tax. If your deductions are minimal (less than ₹3-4 lakhs), the New Regime with lower rates is usually better.
Salaried employees can switch between regimes every year. Business owners who opt for new regime can switch back to old regime only once in lifetime.
Under New Regime: Full rebate if taxable income ≤ ₹7,00,000. Under Old Regime: Full rebate if taxable income ≤ ₹5,00,000. Maximum rebate is ₹25,000 (New) or ₹12,500 (Old).
Surcharge is applicable on income above ₹50 lakhs. Rate varies from 10% to 37% based on income level. Health & Education Cess of 4% is applicable on all incomes.