Income Tax Calculator FY 2024-25 – Old vs New Regime
Compare tax under both regimes and find which saves you more money.
Tax Inputs
Tax Breakdown
–effective tax rate
Taxable Income
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Income Tax
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Cess (4%)
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Total Tax
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Effective Rate
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In-Hand Annual
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New Regime Slabs
| Income Slab | Rate |
|---|---|
| Up to Rs3,00,000 | Nil |
| Rs3L-Rs7L | 5% |
| Rs7L-Rs10L | 10% |
| Rs10L-Rs12L | 15% |
| Rs12L-Rs15L | 20% |
| Above Rs15L | 30% |
Std deduction Rs75K. 87A rebate if income up to Rs7L.
Old Regime Slabs
| Income Slab | Rate |
|---|---|
| Up to Rs2,50,000 | Nil |
| Rs2.5L-Rs5L | 5% |
| Rs5L-Rs10L | 20% |
| Above Rs10L | 30% |
Std deduction Rs50K. Allows 80C, HRA, 80D, home loan interest.
Disclaimer: All calculations are for educational and illustrative purposes only. Results are estimates and do not constitute financial, tax, or investment advice. Tax calculations are based on FY 2024-25 rules. Actual returns may vary. Consult a SEBI-registered financial adviser or CA before making financial decisions. MarketFreeze is not a SEBI-registered investment adviser.
Frequently Asked Questions
Which regime is better?▾
New regime is better if deductions are less than Rs3.75L total. For employees with home loans and full 80C utilisation, old regime often saves more.
87A rebate?▾
New regime: tax nil if taxable income up to Rs7L. Old regime: rebate for income up to Rs5L.
Standard deduction?▾
Rs75,000 under new regime. Rs50,000 under old regime.
Key deductions in old regime?▾
80C Rs1.5L (PF, ELSS, LIC), 80D Rs25K health insurance, 24(b) Rs2L home loan interest, 80CCD(1B) Rs50K NPS, HRA.
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