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Income Tax Calculator
Old vs New regime — see which saves more.
Enter values to see your result
About the Income Tax Calculator
Income tax in India follows a progressive slab system. For FY 2024-25, the government offers two regimes:
New Regime (default)
- 0–3L: 0%
- 3L–7L: 5%
- 7L–10L: 10%
- 10L–12L: 15%
- 12L–15L: 20%
- 15L+: 30%
Standard deduction: ₹75,000. Rebate makes income up to ₹7L tax-free.
Old Regime
- 0–2.5L: 0%
- 2.5L–5L: 5%
- 5L–10L: 20%
- 10L+: 30%
Allows deductions under 80C, 80D, HRA, LTA, home loan interest. Standard deduction: ₹50,000.
Frequently asked questions
Which regime should I choose?
If you have significant deductions (HRA, 80C, home loan), the old regime often wins. If you have few deductions, the new regime is simpler and usually cheaper.
Can I switch regimes?
Salaried employees can switch every year. Business income earners can switch only once back to old regime after opting for new.
What is Section 87A rebate?
A tax rebate making income up to ₹5L (old) or ₹7L (new) effectively tax-free.