Income Tax Calculator (FY 2024-25)
Old Regime vs New Regime
The Indian Income Tax system offers two regimes. The New Regime offers lower tax rates but fewer deductions/exemptions (like HRA, 80C). The Old Regime has higher rates but allows claiming various deductions.
New Regime Slabs (Default)
- 0 - 3L: Nil
- 3L - 7L: 5% (Rebate u/s 87A up to 7L)
- 7L - 10L: 10%
- 10L - 12L: 15%
- 12L - 15L: 20%
- > 15L: 30%
Old Regime Slabs
- 0 - 2.5L: Nil
- 2.5L - 5L: 5%
- 5L - 10L: 20%
- > 10L: 30%
- (Allows 80C, 80D, HRA deductions)