Income Tax Calculator FY 2024-25
Compare your tax liability under the old and new regime. Enter your salary and deductions to instantly see which regime puts more money in your pocket.
Income Details (FY 2024-25)
Deductions (Old Regime)
Better Regime for You
Old Regime
Saves ₹6,500 in tax
Old Regime Tax
₹65,000
₹₹94,583/mo in-hand
New Regime Tax
₹71,500
₹₹94,042/mo in-hand
Old Regime Breakdown
New Regime Breakdown
Old vs New Regime Comparison
Save More Tax with NPS
Invest in NPS and claim additional ₹50,000 deduction under Section 80CCD(1B).
Old vs New Tax Regime — Which is Better?
India's dual income tax regime gives every taxpayer a choice. The old regimehas higher tax rates but allows a wide range of deductions (80C, HRA, home loan interest, 80D, etc.), which can significantly reduce your taxable income. The new regime (Budget 2024) offers lower tax rates and a higher standard deduction of ₹75,000, but most deductions are not available. The new regime is now the default regimefrom FY 2024-25 — if you don't declare a preference, your employer will apply it. The right choice depends entirely on your deductions: heavy investors in 80C, HRA claimants, and home loan borrowers often save more under the old regime, while those with few deductions usually benefit from the new regime's lower rates.
How to Use the RupeeMath Income Tax Calculator
- 1.Gross Salary: Enter your annual CTC or gross salary (before any deductions).
- 2.HRA & LTA: Enter your actual HRA and LTA exemptions if applicable (only relevant for the old regime).
- 3.Deductions: Fill in Section 80C (max ₹1.5L), 80D (health insurance), home loan interest (max ₹2L), NPS contribution (max ₹50K extra), and other deductions.
- 4.Compare: The calculator shows tax under both regimes side-by-side — tax payable, in-hand monthly salary, and which regime saves more money.
- 5.Inform your employer: Once you decide, submit your investment declaration to HR at the start of the financial year so they deduct TDS under the correct regime.
FY 2024-25 Income Tax Slabs at a Glance
Old Regime
| Income Slab | Tax Rate |
|---|---|
| Up to ₹2.5 lakh | Nil |
| ₹2.5L – ₹5L | 5% |
| ₹5L – ₹10L | 20% |
| Above ₹10L | 30% |
87A rebate: zero tax if income ≤ ₹5L
New Regime (Budget 2024)
| Income Slab | Tax Rate |
|---|---|
| Up to ₹3 lakh | Nil |
| ₹3L – ₹7L | 5% |
| ₹7L – ₹10L | 10% |
| ₹10L – ₹12L | 15% |
| ₹12L – ₹15L | 20% |
| Above ₹15L | 30% |
87A rebate: zero tax if income ≤ ₹7L
All figures are for individuals below 60 years. Add 4% cess on final tax amount. Standard deduction: ₹50,000 (old) / ₹75,000 (new).