MulticalcIncome Tax Calculator
FY 2024-25 (AY 2025-26)Calculate your income tax for FY 2024-25 with New or Old tax regime.
Tax Computation
Enter income and select regime.
New Tax Slabs (FY 2024-25)
The government has revised the New Tax Regime to make it more beneficial with Standard Deduction of ₹75,000 (increased from ₹50,000).
| Income Range | Tax Rate |
|---|---|
| Up to ₹3,00,000 | Nil |
| ₹3,00,001 to ₹7,00,000 | 5% |
| ₹7,00,001 to ₹10,00,000 | 10% |
| ₹10,00,001 to ₹12,00,000 | 15% |
| ₹12,00,001 to ₹15,00,000 | 20% |
| Above ₹15,00,000 | 30% |
New Regime vs Old Regime
Compare the two tax regimes to understand which one is better for your situation.
| Feature | New Regime | Old Regime |
|---|---|---|
| Standard Deduction | ₹75,000 | ₹50,000 |
| 80C Deductions | Not Allowed | Allowed (₹1.5L) |
| HRA/LTA Exemption | Not Allowed | Allowed |
| Lower Tax Rates | Yes | Higher Rates |
| Best For | High earners with few deductions | Those with investments & HRA |
Important Tax Tips
📊 New Regime Benefits
- Lower tax rates (5% to 30%)
- Higher standard deduction (₹75K)
- No tax up to ₹7 lakhs
- Simple calculation process
🎯 Old Regime Benefits
- Deductions up to ₹1.5L (80C)
- HRA exemption available
- Home loan interest deduction
- Better for home owners
Quick Tips
- Choose New Regime if you have few deductions and earn above ₹25L
- Choose Old Regime if you're renting or have home loan
- 80C deductions can save ₹30K-60K in taxes annually
- Always maintain HRA and rent documents for exemption
- File ITR by July 31 to avoid penalties
- Use Section 80D for health insurance deduction
Disclaimer
This calculator is for educational purposes only. Tax calculations are approximate and may vary based on state-specific taxes, surcharges, and cess. Always consult with a Chartered Accountant for accurate tax advice and file your ITR correctly. Verify all calculations before submitting tax returns.