Income Tax Calculator

New tax regime vs old tax regime — FY 2024-25. See which is better for you.

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Net monthly salary after all taxes and cess
Winning Regime
Actionable Suggestions
New regime (default from FY24-25): Lower slab rates, no deductions. Rebate u/s 87A makes income up to ₹7L tax-free.
Old regime: Higher slab rates but allows HRA, 80C, 80D and many other deductions. Better if your deductions exceed ~₹3.75L.
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Tax Breakdown by Slab

New tax regime — FY 2024-25 slabs

Default from FY 2024-25. Standard deduction: ₹75,000. Tax slabs: 0% up to ₹3L, 5% on ₹3L–7L, 10% on ₹7L–10L, 15% on ₹10L–12L, 20% on ₹12L–15L, 30% above ₹15L. Section 87A rebate makes income up to ₹7L effectively tax-free. No deductions (80C, HRA, 80D etc.) allowed.

Old tax regime — slabs and deductions

Slabs: 0% up to ₹2.5L, 5% on ₹2.5L–5L, 20% on ₹5L–10L, 30% above ₹10L. Allows all deductions: 80C (₹1.5L), HRA exemption, 80D health insurance (₹25K–₹1L), NPS 80CCD(1B) (₹50K extra), home loan interest (₹2L), standard deduction (₹50K). Better if total deductions exceed ~₹3.75 lakh.

Which regime saves more tax?

At ₹12 lakh salary with full 80C (₹1.5L) + HRA (₹1.2L) + 80D (₹25K): Old regime tax ≈ ₹1.17L, New regime tax ≈ ₹83,200. New regime wins here. But at ₹15 lakh with ₹5L+ in total deductions, old regime can save ₹40,000–₹70,000 more. Always run both scenarios in the calculator above with your exact numbers.