Income Tax Calculator FY 2024-25
Compute your income tax for FY 2024-25 (AY 2025-26) under old and new regimes. Free India tax calculator with full slabs, 87A rebate and 4 percent cess.
Calculate your result
Enter your numbers. Your estimate and charts update as you make changes.
Income
Ordinary slab-rate income only; exclude special-rate capital gains. Standard deduction assumes this income includes sufficient eligible salary/pension. Estimates exclude filing rounding and other reliefs.
Old-regime deductions
What your numbers mean
New regime regime saves you ₹57,200 this year.
₹1,30,000 vs ₹1,87,200 on the same income.
Effective rate: 8.7% — much lower than the top slab.
Take-home ₹13.7L on gross ₹15L.
- Taxable income
- ₹14,25,000
- Tax on slabs
- ₹1,25,000
- 87A rebate
- −₹0
- Marginal relief (before cess)
- −₹0
- Surcharge
- ₹0
- Cess (4%)
- ₹5,000
- Take-home
- ₹13.7L
- Taxable income
- ₹12,25,000
- Tax on slabs
- ₹1,80,000
- 87A rebate
- −₹0
- Marginal relief (before cess)
- −₹0
- Surcharge
- ₹0
- Cess (4%)
- ₹7,200
- Take-home
- ₹13.13L
Understand your calculation
FY 2024-25 (AY 2025-26) covers 1 April 2024 to 31 March 2025. This calculator compares old- and new-regime tax using that year's slabs, standard deductions and Section 87A rebate. Use it to check a historical liability, not current-year income. Filing, revision and updated-return eligibility depend on the applicable deadlines; the calculator does not establish whether a return can still be filed.
How to use the Income Tax Calculator FY 2024-25
- 1
Enter your gross annual income for FY 2024-25
Use the total income from 1 April 2024 to 31 March 2025, including salary, business income, capital gains, rental income and other taxable items.
- 2
Confirm salaried status
Salaried and pensioner taxpayers get a 75,000 standard deduction in the new regime and 50,000 in the old regime for FY 2024-25.
- 3
Add old regime deductions
Section 80C up to 1.5 lakh, 80D health insurance, 80CCD(1B) NPS up to 50,000, home loan interest under Section 24B up to 2 lakh on self occupied property, HRA exemption (use the HRA calculator). These reduce taxable income only under the old regime.
- 4
Read the comparison
The calculator picks the regime with lower tax for FY 2024-25 and shows the saving in rupees. Use the slab wise breakdown to verify the maths against your filing.
Worked example
₹15 lakh salary in FY 2024-25: new vs old regime
A resident salaried taxpayer aged 30 earned ₹15,00,000 in FY 2024-25 and, for the old regime, had ₹1,50,000 of 80C, ₹25,000 of 80D and ₹50,000 of NPS under 80CCD(1B). New regime: taxable = 15,00,000 − 75,000 = ₹14,25,000; slab tax = 20,000 (5% of 3–7 lakh) + 30,000 (10% of 7–10 lakh) + 30,000 (15% of 10–12 lakh) + 45,000 (20% of 2,25,000) = ₹1,25,000; plus 4% cess = ₹1,30,000. Old regime: deductions ₹2,75,000, taxable ₹12,25,000; slab tax = 12,500 + 1,00,000 + 67,500 = ₹1,80,000; plus cess = ₹1,87,200.
- New regime taxable income
- ₹14,25,000
- New regime tax (incl. cess)
- ₹1,30,000
- Old regime taxable income
- ₹12,25,000
- Old regime tax (incl. cess)
- ₹1,87,200
- Saving with the new regime
- ₹57,200
The same income pays ₹97,500 under the FY 2026-27 new regime, so the FY 2024-25 figure is ₹32,500 higher. Use the right year's slabs when filing or revising.
How it's calculated
The calculation uses the FY 2024-25 settings in config/india/fy-2024-25.ts. Taxable income is gross income minus the standard deduction (₹75,000 new regime, ₹50,000 old regime, salaried only). In the old regime it also subtracts professional tax (up to ₹2,500), 80C (up to ₹1,50,000), 80D (₹25,000 in this form), 80CCD(1B) (₹50,000), self-occupied home-loan interest (₹2,00,000) and any HRA exemption you enter. Resident seniors get a ₹3 lakh or ₹5 lakh (80+) zero band in the old regime.
Slab tax is marginal: each slice of income is taxed at its own rate. For residents, Section 87A removes up to ₹25,000 of tax when new-regime taxable income is at most ₹7,00,000, and up to ₹12,500 when old-regime taxable income is at most ₹5,00,000. Just above ₹7 lakh in the new regime, marginal relief caps tax at the income above ₹7 lakh: tax = min(slab tax, taxable − ₹7,00,000).
Surcharge bands (10%, 15%, 25%, and 37% in the old regime above ₹5 crore) apply above ₹50 lakh with marginal relief at each threshold. Then cess = 4% × (tax after rebate + surcharge), and the lower of the two totals is shown as the better regime.
Frequently asked questions
What were the new regime tax slabs for FY 2024-25?
0 percent up to 3 lakh, 5 percent from 3 to 7 lakh, 10 percent from 7 to 10 lakh, 15 percent from 10 to 12 lakh, 20 percent from 12 to 15 lakh and 30 percent above 15 lakh. Salaried taxpayers got a 75,000 standard deduction. The 87A rebate was up to 25,000 for income up to 7 lakh.
Can I still file an income tax return for FY 2024-25?
Yes. The original deadline for non audit cases was 31 July 2025. Belated returns can be filed by 31 December 2025 with a fee of up to 5,000 rupees. Beyond that, an updated return (Section 139(8A)) is possible up to 24 months after the assessment year ends, with additional tax payable.
When is FY 2024-25 the right calculator to use?
Use this calculator if you are filing a return for the financial year 1 April 2024 to 31 March 2025 (assessment year 2025-26). For current-year income earned from 1 April 2026 to 31 March 2027, use the FY 2026-27 calculator on the sister page.
What changed between FY 2024-25 and FY 2026-27?
Budget 2025 restructured the new regime slabs to be wider, raised the 87A rebate from 25,000 to 60,000 and pushed the effectively tax free income up from 7 lakh to 12 lakh for salaried taxpayers. The old regime slabs and the 87A rebate of 12,500 (for income up to 5 lakh) were unchanged. Standard deduction stayed at 75,000 in the new regime and 50,000 in the old.
How is surcharge calculated for FY 2024-25?
The same bands as FY 2026-27: 10 percent for income above 50 lakh up to 1 crore, 15 percent for 1 to 2 crore and 25 percent above 2 crore in the new regime. Old regime has an additional 37 percent band above 5 crore. The 4 percent Health and Education Cess sits on top of tax plus surcharge.
What if I claimed a deduction that the law no longer allows?
If you claimed an ineligible deduction in your original return, file a revised return with the correct numbers before the deadline. If you missed an eligible deduction, the same revision route lets you claim it. The calculator helps you compute the correct liability before filing the revision.
Can I switch regimes when filing a belated return?
Yes for salaried taxpayers without business income. The choice of regime can be made at the time of filing the return, including a belated return. For taxpayers with business income, the choice is more restrictive and once made cannot be reversed for that business income.