Full Income Tax Calculator
Calculate your income tax for FY 2024-25 (AY 2025-26) with detailed breakdown. Compare Old vs New tax regime.
Income Tax Calculator FY 2024-25
Allowances & Exemptions (Section 10)
Deductions (Section 80)
PPF, ELSS, LIC, NSC, Tuition Fees, etc.
Max ₹25,000 (₹50,000 for senior citizens)
No upper limit
Max ₹10,000 (₹50,000 for senior citizens)
50% or 100% of donation amount
80CCD(NPS), 80U, etc.
Tax Calculation Summary
Gross Total Income
₹8,50,000
Total Exemptions
₹2,00,000
Total Deductions
₹1,85,000
Taxable Income
₹4,65,000
Income Tax
₹10,750
Rebate (87A)
₹10,750
Cess (4%)
₹0
Final Tax Payable
₹0
Detailed Tax Breakdown
Income Breakdown
Gross Salary:₹8,00,000
Other Income:₹50,000
Gross Total Income:₹8,50,000
Total Exemptions:-₹2,00,000
Net Salary Income:₹6,00,000
Total Income:₹6,50,000
Total Deductions:-₹1,85,000
Taxable Income:₹4,65,000
Tax Calculation
Income Tax:₹10,750
Rebate (87A):-₹10,750
Tax after Rebate:₹0
Cess (4%):₹0
Surcharge:₹0
Final Tax Payable:₹0
Tax Regime Comparison
Old Regime
Tax: ₹10,750
Effective Rate: 1.26%
New Regime
Tax: ₹40,000
Effective Rate: 4.71%
Income Tax Guide FY 2024-25
Old vs New Tax Regime
Old Tax Regime
- • Allows exemptions and deductions
- • Standard deduction of ₹50,000
- • Section 80C deductions up to ₹1.5 lakh
- • HRA, LTA, and other allowances exempt
- • Higher tax rates but more savings options
New Tax Regime
- • No exemptions or deductions
- • Lower tax rates
- • Simplified tax structure
- • No need to maintain investment proofs
- • Higher take-home salary
Income Tax Slabs FY 2024-25
Old Regime Slabs
₹0 - ₹2,50,000Nil
₹2,50,001 - ₹5,00,0005%
₹5,00,001 - ₹10,00,00020%
Above ₹10,00,00030%
New Regime Slabs
₹0 - ₹3,00,000Nil
₹3,00,001 - ₹6,00,0005%
₹6,00,001 - ₹9,00,00010%
₹9,00,001 - ₹12,00,00015%
₹12,00,001 - ₹15,00,00020%
Above ₹15,00,00030%
Tax Saving Strategies
💡 Tax Saving Tips
- • Maximize Section 80C investments (PPF, ELSS, LIC)
- • Invest in health insurance for 80D benefits
- • Consider NPS for additional tax benefits
- • Plan HRA exemptions if you pay rent
- • Use LTA benefits for travel expenses
- • Consider home loan for 80C and 24(b) benefits