Income Tax Calculator India FY 2024-25 – Old vs New Regime
Income Tax Calculator (FY 2024-25)
Calculate your income tax liability under both the Old Tax Regime and the New Tax Regime for FY 2024-25.
80C + HRA + other deductions
Old Regime
Taxable Income
Rs 0
Tax Payable
Rs 0
New Regime
Taxable Income
Rs 0
Tax Payable
Rs 0
Old Regime vs New Regime — Which is Better?
The New Tax Regime (default from FY 2023-24) offers lower slab rates but no major deductions. The Old Regime allows deductions like 80C, HRA, LTA. Use this calculator to find which saves you more tax.
New Tax Regime Slabs (FY 2024-25)
- Up to Rs 3 lakh: Nil
- Rs 3–7 lakh: 5% (tax rebate under 87A makes it nil up to Rs 7 lakh)
- Rs 7–10 lakh: 10%
- Rs 10–12 lakh: 15%
- Rs 12–15 lakh: 20%
- Above Rs 15 lakh: 30%
Tax Saving Tips
- Invest up to Rs 1.5 lakh in 80C instruments (PPF, ELSS, LIC) to reduce taxable income in Old Regime.
- Claim HRA exemption if you pay rent in the Old Regime.
- NPS contributions under Section 80CCD(1B) give additional Rs 50,000 deduction in Old Regime.