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Income Tax Calculator
FinanceCompare tax liability under the Old vs New Tax Regime (FY 2024-25). Find out which regime saves you more money.
Deductions (Old Regime Only)
These deductions apply only to the Old Tax Regime. The New Regime does not allow most deductions.
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Enter your income details to see the tax comparison.
How to Use
- 1Enter your Gross Annual Income.
- 2Enter applicable deductions for the Old Regime (80C, 80D, HRA etc.).
- 3The calculator considers Standard Deduction automatically (₹75k for New, ₹50k for Old).
- 4See the detailed side-by-side comparison below.
Best For
- Tax planning for Salaried Employees.
- Choosing the best tax regime at the start of the financial year.
- Estimating final tax liability.
Old Regime vs New Regime (FY 2024-25)
The Indian government introduced the New Tax Regime to simplify the tax structure by offering lower tax rates but removing most exemptions and deductions. Taxpayers can choose between the two regimes every year.
| Feature | Old Regime | New Regime |
|---|---|---|
| Tax Rates | High (up to 30%) | Lower (Gradual slabs) |
| Exemptions | 70+ (HRA, LTA, 80C, 80D) | Very Few (Standard Deduction) |
| Standard Deduction | ₹50,000 | ₹75,000 |
| Tax Free Limit | ₹5 Lakhs | ₹7 Lakhs (Rebate 87A) |
Which Regime should I choose?
Choose Old Regime if...
- You have high investments in PPF, ELSS, Insurance (80C).
- You pay high rent and claim HRA.
- You have a Home Loan (Interest deduction).
- Your total deductions exceed ₹3.75 Lakhs.
Choose New Regime if...
- You do not have many investments.
- You want a simple tax filing process.
- You are a fresh earner with low commitments.
- Your income is around ₹7-15 Lakhs and you want lower base rates.