🇮🇳 India
Income Tax Calculator India (FY 2024-25)
This income tax calculator for India estimates FY 2024-25 tax under the new and old regimes for salaried taxpayers. Enter salary, HRA details, deductions, home loan interest, professional tax, and other eligible reductions to compare taxable income side by side. It applies Indian slab logic, 4% health and education cess, rebate rules, and monthly TDS estimates in rupees using Indian number formatting.
How to use
- Enter annual gross salary or total taxable income before deductions.
- Fill HRA, rent, basic salary, and city details if you want automatic HRA exemption under the old regime.
- Add old-regime deductions such as 80C, 80D, professional tax, and home loan interest.
- Choose New Regime, Old Regime, or Compare Both to focus the output.
- Review taxable income, cess, net tax, monthly TDS, and the green badge showing the lower-tax regime.
Formula
Net tax payable = Tax + 4% health and education cess
Monthly TDS = Net tax payable / 12
Income tax is calculated slab by slab. Each slab taxes only the portion of income that falls inside that band, not the entire income at the highest rate. For FY 2024-25, the new regime for most individual salaried taxpayers has lower slab rates and a salary standard deduction of ₹75,000, but it does not allow common deductions such as HRA exemption, 80C, 80D, or self-occupied home loan interest. The old regime keeps those deductions but uses higher slab rates after ₹5,00,000.
This calculator first computes taxable income separately for each regime. It then applies rebate logic, adds health and education cess at 4%, and divides the final yearly tax by 12 for a monthly TDS planning number. It does not calculate surcharge for very high incomes, marginal relief beyond standard rebate handling, capital gains special rates, or business-income restrictions on switching regimes.
Worked example
Assume gross salary of ₹12,00,000, 80C investments of ₹1,50,000, 80D premium of ₹25,000, rent of ₹3,00,000, and basic salary of ₹6,00,000.
The old regime may reduce taxable income through HRA and deductions, while the new regime mainly uses the ₹75,000 standard deduction.
The calculator compares both and shows the lower annual tax and monthly TDS.
Section 80C investments and limits
| Investment or payment | Typical 80C treatment |
|---|---|
| Employee Provident Fund | Included within ₹1,50,000 limit |
| Public Provident Fund | Included within ₹1,50,000 limit |
| ELSS mutual funds | Included; 3-year lock-in |
| Life insurance premium | Included subject to policy rules |
| Principal repayment on home loan | Included for eligible house property |
| Sukanya Samriddhi Yojana | Included within ₹1,50,000 limit |
| National Savings Certificate | Included within ₹1,50,000 limit |
| 5-year tax saver FD | Included; interest taxable |
| Tuition fees for children | Included for eligible full-time education |
| Senior Citizens Savings Scheme | Included within ₹1,50,000 limit |
New regime vs old regime
The new regime is the default regime for many individual taxpayers, but salaried taxpayers without business income can generally choose the old regime while filing the return. The better choice depends on deduction depth. A taxpayer with high HRA exemption, full 80C, health insurance, home loan interest, and professional tax may still prefer the old regime. A taxpayer with fewer deductions often pays less in the new regime because slabs are lower and the rebate limit is higher.
Use this page as a planning estimate before declaring investments to your employer. Your Form 16, AIS, capital gains, bank interest, and other income can change the final return calculation.
Using this result in India
This Income Tax Calculator India (FY 2024-25) is designed as a planning and audit tool, not as a substitute for the original Indian document that controls the transaction. For tax pages, that controlling document may be the Income-tax Act, Finance Act, Form 16, Form 26AS, AIS, challan, or employer declaration. For loan and investment pages, it may be the bank sanction letter, mutual fund scheme document, policy statement, EPFO passbook, NPS statement, or small-savings notification. For state-level pages, it may be a state transport, registration, electricity, or revenue department order. Use the calculator to understand scale, direction, and line-item logic before you rely on the official document.
Indian financial decisions are sensitive to timing. A rate that is correct for FY 2024-25 may not be correct for FY 2025-26. A monthly salary figure may not include bonus, arrears, reimbursements, or employer contributions. A property or vehicle quote may include charges that are negotiable, optional, or state-specific. A bank rate may be floating and linked to an external benchmark. Re-run the calculator when any input changes, and compare at least three scenarios: conservative, expected, and high-cost or low-return.
When the output is a large rupee amount, read it in both exact Indian notation and practical language. ₹10,00,000 is 10 lakhs, ₹1,00,00,000 is 1 crore, and small percentage changes can move the result by many lakhs on long tenures or high-value purchases. Keep screenshots or downloaded statements from the official portal, preserve invoices and receipts, and reconcile calculator output with the final bill, return, or statement before making a payment, filing a return, or signing a contract.
If you share the result with a family member, accountant, lender, employer, dealer, or broker, share the inputs too. Most disagreements come from different assumptions, not from the arithmetic.
FAQ
What is the new tax regime?
The new regime is the default personal tax system with lower slab rates and fewer deductions. For FY 2024-25 it allows salary standard deduction but generally excludes HRA, 80C, 80D, and self-occupied home loan interest deductions.
Which regime is better for me?
The old regime is usually better when eligible deductions and exemptions are large. The new regime is often better when you do not claim much beyond standard deduction. The calculator compares both.
What is standard deduction?
Standard deduction is a flat reduction from salary income. For FY 2024-25, the calculator uses ₹75,000 for the new regime and lets you edit the old-regime standard deduction field.
What is Section 80C?
Section 80C covers common investments and payments such as EPF, PPF, ELSS, life insurance premium, home loan principal, and tuition fees up to ₹1,50,000 in the old regime.
How is cess calculated?
Health and education cess is 4% of income tax after rebate and before final payable tax. If income tax after rebate is zero, cess is also zero.
Important notes for India
- FY 2024-25 corresponds to Assessment Year 2025-26; tax filing forms and employer TDS declarations should use the correct AY.
- The calculator uses the FY 2024-25 new-regime slabs notified after the 2024 Budget, including the ₹3,00,001 to ₹7,00,000 slab at 5%.
- Surcharge, marginal relief for high income, special capital gains rates, agricultural income aggregation, and business-income regime restrictions need separate review.
- HRA exemption is available only when rent is actually paid and conditions under Section 10(13A) are met.