Income Tax Calculator FY 2024-25 (AY 2025-26)
Old Regime Tax
Total Tax: ₹0
Effective Tax Rate: 0%
New Regime Tax
Total Tax: ₹0
Effective Tax Rate: 0%
Understanding the Old vs New Tax Regime 2025
Did you know that you have the choice to file your taxes under two different regimes – the old tax regime and the new tax regime? Each comes with different tax slabs, deductions, and exemptions, so selecting the right one can help you optimize tax savings and make better financial decisions.
To make tax calculations easy, accurate, and stress-free, we bring you our Income Tax Calculator – a free online tool that helps you compute your tax liability under both tax regimes and decide which one suits you best. No more complex calculations, no need for a tax consultant – just enter your details and get instant results.
Budget 2025 Tax Updates: What's New?
Before you start calculating, let's quickly check out some major tax updates from Budget 2025:
- No income tax for income up to ₹12 Lakhs (Thanks to a rebate of ₹60,000 in the new tax regime)
- Revised Income Tax Slabs for FY 2025-26 (AY 2026-27)
| Income Slabs | Tax Rate |
|---|---|
| Up to ₹4,00,000 | NIL |
| ₹4,00,001 - ₹8,00,000 | 5% |
| ₹8,00,001 - ₹12,00,000 | 10% |
| ₹12,00,001 - ₹16,00,000 | 15% |
| ₹16,00,001 - ₹20,00,000 | 20% |
| ₹20,00,001 - ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
What is the Income Tax Calculator?
An Income Tax Calculator is a user-friendly online tool that helps you determine your exact tax liability for a given financial year.
Why Use It?
- Compare Old vs New Tax Regime – See which tax regime benefits you more.
- Accurate Tax Calculations – No more manual errors.
- Better Financial Planning – Estimate your tax liability in advance and plan savings wisely.
- Quick & Hassle-Free – Get instant tax results in seconds.
Our tool is updated as per Budget 2025 to ensure you get the most accurate tax computation for FY 2025-26 (AY 2026-27).
How to Use the Income Tax Calculator?
Using the tax calculator is super simple! Just follow these steps:
- Select the financial year for which you want to calculate taxes.
- Choose your age group (Tax rates under the old regime vary for different age groups).
- Click ‘Continue’.
- Enter your salary details, including HRA, LTA, and any other allowances. If applicable, deduct LTA exemptions before entering your taxable salary.
- Enter income from other sources (interest income, rental income, capital gains, etc.).
- If you have income from Digital Assets, enter the net taxable amount.
- Click ‘Continue’ again.
- Add tax-saving investments under sections 80C, 80D, 80E, 80G, 80TTA (if applicable).
- Click ‘Calculate’ and instantly get your tax liability under both tax regimes.
The tool also provides detailed tax breakdowns to help you compare and optimize your tax savings.
How to Calculate Income Tax on Salary?
To compute income tax liability, you need to consider all sources of income:
- Income from Salary = Basic Salary + HRA + Special Allowance + Transport Allowance + Other Allowances
- Income from House Property
- Income from Capital Gains (e.g., stocks, real estate)
- Income from Business/Profession
- Income from Other Sources (e.g., interest from savings, FD interest, rental income)
Standard Deduction:
- Old Regime: ₹50,000
- New Regime: ₹75,000
Example: Income Tax Calculation – Old vs New Regime
Case Study: Neha’s Tax Calculation
- Basic Salary: ₹1,00,000/month
- HRA: ₹50,000/month
- Special Allowance: ₹21,000/month
- LTA: ₹20,000/year
- Rent Paid: ₹40,000 (Neha lives in Delhi)
Old Regime Tax Calculation FY 24-25
| Component | Amount | Exempt/Deduction | Taxable Income |
|---|---|---|---|
| Basic Salary | ₹12,00,000 | - | ₹12,00,000 |
| HRA | ₹6,00,000 | ₹3,60,000 | ₹2,40,000 |
| Special Allowance | ₹2,52,000 | - | ₹2,52,000 |
| LTA | ₹20,000 | ₹12,000 | ₹8,000 |
| Standard Deduction | - | ₹50,000 | ₹50,000 |
| Total Taxable Income | ₹15,00,000 | ||
| Tax Payable (with cess) | ₹2,73,000 |
New Regime Tax Calculation FY 25 - 26
| Component | Amount | Exempt/Deduction | Taxable Income |
|---|---|---|---|
| Total Salary | ₹19,97,000 | - | ₹19,97,000 |
| Standard Deduction | - | ₹75,000 | ₹75,000 |
| Total Taxable Income | ₹19,42,000 | ||
| Tax Payable (with cess) | ₹2,83,504 |
Conclusion
Neha saves ₹10,504 under the old regime due to deductions.
Why Use Our Income Tax Calculator?
Our tax calculator is designed to make tax planning easy & efficient. Here’s why you should try it:
- Accurate & Instant Tax Calculation – No manual errors, no guesswork.
- Compare Old vs New Tax Regime – Find out which one is best for you.
- User-Friendly & Free – Anyone can use it, anywhere, anytime.
- Better Financial Planning – Plan tax-saving investments wisely.
- Saves Time & Effort – Get quick results without a tax expert.
Start Your Tax Planning Today!
Now that you understand income tax slabs, deductions, and tax regimes, why wait? Try our Income Tax Calculator now and take control of your taxes.
Try our Income Tax Calculator today and simplify your tax planning with Eleventh unicorn.