An Income Tax Calculator is an online tool that helps you calculate your income tax based on your income, deductions, and exemptions.
In this blog post we will explain the key aspects of income tax and also provide a free Income Tax Calculator 2024-25 (AY 2025-26) to help you calculate your income tax easily.
Table of Contents
This Income Tax Calculator 2024-25 (Assessment Year 2025-26) includes all key income components like Dearness Allowance (DA), Travel Allowance (TA), House Rent Allowance (HRA) etc, exemptions, and deductions. Just enter your income, savings, and exemption details to get your estimated income tax.
Income Tax Calculator 2024–25 (Old vs New Regime)
Note: Section 10 exemptions apply only in Old Regime.
Standard Deduction: ₹50,000 (Old Regime) | ₹75,000 (New Regime)
In New Regime, only 80CCD(2) and 80CCH are allowed.
Age affects slabs only under Old Regime.
Tax Results – FY 2024–25
Old Regime
Gross Salary:
Section 10 Exemptions:
Standard + Sec16:
House & Other Income:
VI-A Deductions:
Taxable Income:
Tax:
Rebate u/s 87A:
Cess (4%):
Total Tax Payable:
New Regime
Gross Salary:
Section 10 (ignored):
Standard Deduction:
House & Other Income:
VI-A Allowed:
Taxable Income:
Tax:
Rebate u/s 87A:
Cess (4%):
Total Tax Payable:
Income Tax Slabs
Income Tax Slabs for Individuals Less Than 60 Years of Age (AY 2025-26)
Old Tax Regime
| Income Tax Slab | Income Tax Rate | *Surcharge |
|---|---|---|
| Up to ₹2,50,000 | Nil | Nil |
| ₹2,50,001-₹5,00,000** | 5% above ₹2,50,000 | Nil |
| ₹5,00,001-₹10,00,000 | ₹12,500 + 20% above ₹5,00,000 | Nil |
| ₹10,00,001-₹50,00,000 | ₹1,12,500 + 30% above ₹10,00,000 | Nil |
| ₹50,00,001-₹100,00,000 | ₹1,12,500 + 30% above ₹10,00,000 | 10% |
| ₹100,00,001-₹200,00,000 | ₹1,12,500 + 30% above ₹10,00,000 | 15% |
| ₹200,00,001-₹500,00,000 | ₹1,12,500 + 30% above ₹10,00,000 | 25% |
| Above ₹500,00,000 | ₹1,12,500 + 30% above ₹10,00,000 | 37% |
New Tax Regime u/s 115BAC
| Income Tax Slab | Income Tax Rate | *Surcharge |
|---|---|---|
| Up to ₹3,00,000 | Nil | Nil |
| ₹3,00,001-₹7,00,000** | 5% above ₹3,00,000 | Nil |
| ₹7,00,001-₹10,00,000 | ₹20,000 + 10% above ₹7,00,000 | Nil |
| ₹10,00,001-₹12,00,000 | ₹50,000 + 15% above ₹10,00,000 | Nil |
| ₹12,00,001-₹15,00,000 | ₹80,000 + 20% above ₹12,00,000 | Nil |
| ₹15,00,001-₹50,00,000 | ₹1,40,000 + 30% above ₹15,00,000 | Nil |
| ₹50,00,001-₹100,00,000 | ₹1,40,000 + 30% above ₹15,00,000 | 10% |
| ₹100,00,001-₹200,00,000 | ₹1,40,000 + 30% above ₹15,00,000 | 15% |
| Above ₹200,00,001 | ₹1,40,000 + 30% above ₹15,00,000 | 25% |
Income Tax Slabs for Individuals 60 Years or More but Less Than 80 Years of Age (AY 2025-26)
Old Tax Regime
| Income Tax Slab | Income Tax Rate | *Surcharge |
|---|---|---|
| Up to ₹3,00,000 | Nil | Nil |
| ₹3,00,001-₹5,00,000 | 5% above ₹3,00,000 | Nil |
| ₹5,00,001-₹10,00,000 | ₹10,000 + 20% above ₹5,00,000 | Nil |
| ₹10,00,001-₹50,00,000 | ₹1,10,000 + 30% above ₹10,00,000 | Nil |
| ₹50,00,001-₹100,00,000 | ₹1,10,000 + 30% above ₹10,00,000 | 10% |
| ₹100,00,001-₹200,00,000 | ₹1,10,000 + 30% above ₹10,00,000 | 15% |
| ₹200,00,001-₹500,00,000 | ₹1,10,000 + 30% above ₹10,00,000 | 25% |
| Above ₹500,00,000 | ₹1,10,000 + 30% above ₹10,00,000 | 37% |
New Tax Regime u/s 115BAC
| Income Tax Slab | Income Tax Rate | *Surcharge |
|---|---|---|
| Up to ₹3,00,000 | Nil | Nil |
| ₹3,00,001-₹7,00,000** | 5% above ₹3,00,000 | Nil |
| ₹7,00,001-₹10,00,000 | ₹20,000 + 10% above ₹7,00,000 | Nil |
| ₹10,00,001-₹12,00,000 | ₹50,000 + 15% above ₹10,00,000 | Nil |
| ₹12,00,001-₹15,00,000 | ₹80,000 + 20% above ₹12,00,000 | Nil |
| ₹15,00,001-₹50,00,000 | ₹1,40,000 + 30% above ₹15,00,000 | Nil |
| ₹50,00,001-₹100,00,000 | ₹1,40,000 + 30% above ₹15,00,000 | 10% |
| ₹100,00,001-₹200,00,000 | ₹1,40,000 + 30% above ₹15,00,000 | 15% |
| Above ₹200,00,001 | ₹1,40,000 + 30% above ₹15,00,000 | 25% |
Income Tax Slabs for Individuals 80 Years of Age or More (AY 2025-26)
Old Tax Regime
| Income Tax Slab | Income Tax Rate | *Surcharge |
|---|---|---|
| Up to ₹5,00,000 | Nil | Nil |
| ₹5,00,001-₹10,00,000 | 20% above ₹5,00,000 | Nil |
| ₹10,00,001-₹50,00,000 | ₹1,00,000 + 30% above ₹10,00,000 | Nil |
| ₹50,00,001-₹100,00,000 | ₹1,00,000 + 30% above ₹10,00,000 | 10% |
| ₹100,00,001-₹200,00,000 | ₹1,00,000 + 30% above ₹10,00,000 | 15% |
| ₹200,00,001-₹500,00,000 | ₹1,00,000 + 30% above ₹10,00,000 | 25% |
| Above ₹500,00,000 | ₹1,00,000 + 30% above ₹10,00,000 | 37% |
New Tax Regime u/s 115BAC
| Income Tax Slab | Income Tax Rate | *Surcharge |
|---|---|---|
| Up to ₹3,00,000 | Nil | Nil |
| ₹3,00,001-₹7,00,000** | 5% above ₹3,00,000 | Nil |
| ₹7,00,001-₹10,00,000 | ₹20,000 + 10% above ₹7,00,000 | Nil |
| ₹10,00,001-₹12,00,000 | ₹50,000 + 15% above ₹10,00,000 | Nil |
| ₹12,00,001-₹15,00,000 | ₹80,000 + 20% above ₹12,00,000 | Nil |
| ₹15,00,001-₹50,00,000 | ₹1,40,000 + 30% above ₹15,00,000 | Nil |
| ₹50,00,001-₹100,00,000 | ₹1,40,000 + 30% above ₹15,00,000 | 10% |
| ₹100,00,001-₹200,00,000 | ₹1,40,000 + 30% above ₹15,00,000 | 15% |
| Above ₹200,00,001 | ₹1,40,000 + 30% above ₹15,00,000 | 25% |
Rebate u/s 87A for Resident Individuals:
- Old Tax Regime: Tax rebate up to ₹12,500 is applicable if total income does not exceed ₹5,00,000.
- New Tax Regime: Tax rebate up to ₹20,000 is applicable if total income does not exceed ₹7,00,000.
Health & Education Cess: A 4% Health & Education Cess is to be paid on the amount of income tax plus Surcharge (if any) in both regimes.
Old Tax Regime vs. New Tax Regime: Which to Choose?
The government introduced the New Tax Regime, which offers lower tax rates but removes most exemptions and deductions
The Old Tax Regime allows claiming various exemptions and deductions. Choosing between them depends on your financial situation.
With our Income Tax Calculator, you can easily see how much tax you would pay under both the Old and New Tax Regimes and choose the one that is better for you.
