Income Tax Calculator
FY 2024-25 (AY 2025-26)
Income Details
Deductions (Old Regime Only)
Computation of Total Income (ITR Style)
Enter your income details above and click "Calculate Tax"
New Tax Regime Slabs
Standard Deduction: ₹75,000 | Rebate u/s 87A: Up to ₹60,000 (if income ≤ ₹12L) - *Budget 2025 Proposed*
Old Tax Regime Slabs
Standard Deduction: ₹50,000 | Rebate u/s 87A: ₹12,500 (if income ≤ ₹5L)
Frequently Asked Questions
The old tax regime allows various deductions like 80C, 80D, HRA exemption but has higher tax rates. The new tax regime offers lower tax rates but with limited deductions. For FY 2025-26, the new regime has rates from 0% to 30% with a basic exemption of Rs 4 lakh.
It depends on your deductions. If you have significant deductions (80C, 80D, HRA, home loan interest) totaling more than Rs 3.75 lakh, the old regime may be beneficial. For those with fewer deductions, the new regime typically saves more tax.
Under Section 87A, individuals with taxable income up to Rs 5 lakh (old regime) or Rs 12 lakh (new regime) get a rebate of Rs 12,500 and Rs 60,000 respectively, making their tax liability zero. This was updated in Budget 2025.
Yes, standard deduction is Rs 50,000 in old regime and Rs 75,000 in new regime for salaried employees and pensioners from FY 2025-26.
HRA exemption is the minimum of: (1) Actual HRA received, (2) 50% of salary for metro cities or 40% for non-metro, (3) Rent paid minus 10% of salary. This exemption is only available in the old tax regime.