What is the standard deduction for FY 2024-25 in the New Tax Regime?

The standard deduction under the New Tax Regime was increased from ₹50,000 to ₹75,000 for salaried employees and pensioners in Budget 2024.

Is income up to ₹7.75 Lakhs completely tax-free under the New Regime?

Yes. With the ₹75,000 standard deduction, a gross income of ₹7,75,000 results in a taxable income of ₹7,00,000, which qualifies for a 100% tax rebate under Section 87A.

Can I switch between the New and Old Tax Regimes every year?

Salaried individuals with income from salary, house property, or other sources (and no business or professional income) can choose the more beneficial regime every financial year when filing their ITR.

Does this calculator constitute official tax advice?

No. This calculator is provided for general informational and planning purposes only. Tax laws are subject to amendment, and you should consult a qualified Chartered Accountant for complex filings.

What is the Income Tax Calculator and how do I use it?

The Income Tax Calculator is a free, fast online utility designed to Compare New vs Old Tax Regime slabs with standard deduction, Section 87A rebate, and optimal tax savings.. To use it, enter your inputs or upload your file into the tool interface above, adjust any custom options, and get your calculated or converted result immediately.

Income Tax Calculator India

Compare your tax liability under both the New and Old Tax Regimes for FY 2024-25 and FY 2025-26. Incorporates the revised ₹75,000 standard deduction, Section 87A full rebate up to ₹7 Lakhs, and 4% Health & Education Cess.

Annual Gross Income (₹)

Age Category

Optional Deductions (For Old Regime Comparison)

Section 80C (PPF, ELSS, EPF, LIC - Max 1.5L)

Section 80D (Health Insurance)

Tax Comparison: New vs Old Regime

NEW TAX REGIME (Default)

₹0.00

Standard Ded: ₹75,000 | Sec 87A Rebate up to ₹7L

OLD TAX REGIME

₹0.00

Standard Ded: ₹50,000 + 80C + 80D

New Regime Taxable Income: ₹0.00

New Regime 4% Health & Edu Cess: ₹0.00

Old Regime Taxable Income: ₹0.00

Old Regime 4% Health & Edu Cess: ₹0.00

Statutory Disclaimer: These calculators are provided for general informational and educational purposes. Tax calculations may depend on your specific circumstances, exemptions, and current Indian tax laws. Verify important tax liabilities with official government portals or a qualified chartered accountant (CA).