Calculate your income tax for FY 2024-25 (Assessment Year 2025-26) under both New and Old Tax Regime. Find which regime saves you more tax.
| New Regime | Old Regime | |
| Gross Income | — | — |
| Standard Deduction | — | — |
| Other Deductions | — | — |
| Taxable Income | — | — |
| Income Tax | — | — |
| Surcharge | — | — |
| Health & Education Cess (4%) | — | — |
| Total Tax Payable | — | — |
| In-Hand Monthly | — | — |
| Income Slab | Tax Rate |
| Up to ₹3,00,000 | Nil |
| ₹3,00,001 – ₹6,00,000 | 5% |
| ₹6,00,001 – ₹9,00,000 | 10% |
| ₹9,00,001 – ₹12,00,000 | 15% |
| ₹12,00,001 – ₹15,00,000 | 20% |
| Above ₹15,00,000 | 30% |
New regime: Standard deduction ₹75,000. Rebate u/s 87A: No tax if income ≤ ₹7,00,000.
| Income Slab | Rate (Below 60) | Rate (60–79) | Rate (80+) |
| Up to ₹2.5L / ₹3L / ₹5L | Nil | Nil | Nil |
| ₹2.5L – ₹5L | 5% | 5% | Nil |
| ₹5L – ₹10L | 20% | 20% | 20% |
| Above ₹10L | 30% | 30% | 30% |
Old regime: Standard deduction ₹50,000. Rebate u/s 87A: No tax if income ≤ ₹5,00,000.
Q: Which tax regime is better — new or old?
A: If you have deductions above ₹3.75 lakh (80C + 80D + HRA + NPS), the old regime often saves more tax. For most salaried individuals with only standard deduction, the new regime is better. Use our calculator to compare both in real time.
Q: What is rebate under Section 87A?
A: Under the new regime, taxable income up to ₹7 lakh attracts zero tax due to a ₹25,000 rebate u/s 87A. Under the old regime, this limit is ₹5 lakh (₹12,500 rebate). This rebate is only for resident individuals, not NRIs or companies.
Q: What is the last date to file ITR?
A: For salaried individuals (non-audit), the ITR due date is 31 July of the assessment year. For FY 2024-25, this is 31 July 2025. Late filing attracts a penalty of ₹5,000 (₹1,000 if income ≤ ₹5 lakh). Belated ITR can be filed till 31 December with interest u/s 234A.
Q: Is standard deduction available in the new tax regime?
A: Yes. From FY 2024-25, the standard deduction under the new tax regime has been increased to ₹75,000 (from ₹50,000 earlier). Salaried employees and pensioners can claim this without any documentation.
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