Income Tax Calculator FY 2024-25Old vs New Tax Regime
Compare old and new tax regimes. See which one saves you more money and plan your taxes efficiently.
Enter Your Income Details
Deductions (For Old Regime Only)
Max: ₹1,50,000
Max: ₹25,000
Key Changes FY 2024-25
New regime: Standard deduction of ₹75,000
Rebate: No tax up to ₹7 lakhs in new regime
Old regime: All deductions available
Which Regime to Choose?
- •New: If you have minimal deductions
- •Old: If you claim many deductions (80C, 80D, HRA)
- •Compare both and choose the one with lower tax
Income Tax Calculator for FY 2024-25
Calculate your income tax under both old and new tax regimes for Financial Year 2024-25. This calculator helps you determine which regime is more beneficial based on your income and deductions.
New Tax Regime FY 2024-25
- ₹0 - ₹3 lakhs: No tax
- ₹3 - ₹7 lakhs: 5% (Rebate u/s 87A makes it 0% up to ₹7 lakhs)
- ₹7 - ₹10 lakhs: 10%
- ₹10 - ₹12 lakhs: 15%
- ₹12 - ₹15 lakhs: 20%
- Above ₹15 lakhs: 30%
- Standard deduction: ₹75,000 (new for FY 2024-25)
Old Tax Regime
- ₹0 - ₹2.5 lakhs: No tax
- ₹2.5 - ₹5 lakhs: 5%
- ₹5 - ₹10 lakhs: 20%
- Above ₹10 lakhs: 30%
- Deductions available: 80C (₹1.5L), 80D (₹25K), HRA, Standard Deduction (₹50K)
Which Regime Should You Choose?
The choice between old and new regime depends on your deductions. If you claim significant deductions under sections 80C, 80D, HRA, etc., the old regime might be better. If you have minimal deductions, the new regime with its lower rates and higher standard deduction could save more tax.
Tax Saving Investment Options
For old regime, you can save tax through ELSS mutual funds, PPF, EPF, life insurance premiums, health insurance (80D), home loan interest (24b), and NPS (80CCD). Track all your tax-saving investments automatically with StockIQ.