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.
FY 2024-25 (AY 2025-26) is the financial year ending 31 March 2025. Most taxpayers will file the return for this year by 31 July 2025. The income tax calculator on this page computes your liability under both old and new regimes for FY 2024-25, with the slab structure, standard deduction and Section 87A rebate that applied during that year. Use this if you are filing a belated return, revising an old return or simply checking what you owe for the year that just closed.
Income
Old-regime deductions
- Taxable income
- ₹14,25,000
- Tax on slabs
- ₹1,25,000
- 87A rebate
- −₹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
- Surcharge
- ₹0
- Cess (4%)
- ₹7,200
- Take-home
- ₹13.13L
Why use the Income Tax Calculator FY 2024-25
FY 2024-25 had a different new regime slab structure from FY 2025-26. The new regime slabs were narrower (0 percent up to 3 lakh, 5 percent up to 7 lakh and so on) and the 87A rebate was capped at 25,000, meaning only income up to 7 lakh was effectively tax free. Filing an FY 2024-25 return requires the FY 2024-25 calculator, not the current year calculator. This page handles that distinction so your return matches what the income tax department expects.
Benefits at a glance
FY 2024-25 specific slabs
New regime: 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. Old regime slabs unchanged from earlier years. The calculator uses the right configuration automatically.
Correct 87A rebate for FY 2024-25
New regime rebate of up to 25,000 if income is at or below 7 lakh. Old regime rebate of up to 12,500 if income is at or below 5 lakh. The calculator applies the right rebate cap based on the year and regime.
Useful for belated returns
If you missed the original deadline of 31 July 2025, you can still file a belated return for FY 2024-25 by 31 December 2025 with a fee. The calculator gives you the exact tax liability and any interest due.
Revising an old return
If you discover an error in your filed FY 2024-25 return, you can revise it within the assessment year. Run the calculator with the corrected numbers to verify the revised tax before filing.
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.
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 income earned from 1 April 2025 to 31 March 2026, use the FY 2025-26 calculator on the sister page.
What changed between FY 2024-25 and FY 2025-26?
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 2025-26: 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.
Final word
If you still have an FY 2024-25 return to file or revise, use the calculator on this page to compute the right tax under either regime. The slabs and rebate for FY 2024-25 are different from the current year, and using the wrong calculator can lead to a return that fails matching at the income tax department. For income earned in the current financial year, switch over to the FY 2025-26 calculator.
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