Income Tax Calculator For India
Income Tax Calculator for India – FY 2023‑24 & 2024‑25
I’m excited to introduce my Income Tax Calculator, a simple yet powerful tool designed for every salaried or business income earner in India. As someone who’s always wanted clarity in tax planning, I built this calculator to help you:
- Effortlessly compare Old vs New Tax Regimes
- Estimate tax for FY 2023‑24, 2024‑25, AY 2025‑26
- Include all rebates, slabs, age-group rules, standard deductions and cess
Why You’ll Love This Calculator
- Updated Slabs – Budget 2024 & 2025
- New regime (FY 2024‑25): ₹0–3 L: nil, 3–7 L @5%, 7–10 L @10%, 10–12 L @15%, 12–15 L @20%, 15 L+ @30%
- FY 2025‑26 adds ₹4–8 L @5%, 8–12 L @10%, up to 24 L slabs, rebate ₹60k → zero tax up to ₹12 L
- Old regime slabs remain standard: ₹2.5 L or ₹3 L exemptions with typical 5%, 20%, 30% rates, age‑based
- Rebates & Deductions Included
- Standard deduction ₹75k (new regime), up from ₹50k last year
- ₹60k rebate u/s 87A under new regime (FY 25‑26), zero tax up to ₹12 L income
- Old regime: 80C, 80D, HRA allowances — built-in and capped appropriately
- Cess & Surcharge
- 4% health & education cess applied on total tax
- Surcharge rates unchanged, apply above ₹5 M income under both regimes
- Age Group Differentiation
- Differently handles ≥60 and ≥80 age brackets under old regime (exemptions up to ₹3 L, ₹5 L)
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Tax Slab Summary
matlabCopyEditNew Regime FY 2025‑26 (AY 2026‑27)
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Up to ₹4,00,000 – 0%
₹4–8 L – 5%
₹8–12 L – 10%
₹12–16 L – 15%
₹16–20 L – 20%
₹20–24 L – 25%
Above ₹24 L – 30%
Old Regime FY 2024‑25 (AY 2025‑26)
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Below 60 yrs: Up to ₹2.5L – 0%, 2.5–5L – 5%, 5–10L – 20%, >10L – 30%
60–79 yrs: Up to ₹3L – same slab rates
80+ yrs: Up to ₹5L – 0%, 5–10L – 20%, >10L – 30%
How I Built & Updated It
- Budget Provisions Included: Standard deductions, rebates u/s 87A, new slabs
- Age-based logic for old regime
- Deductions Section toggles dynamically when you switch regimes
- Clear comparison of tax liabilities under both regimes for better planning
FAQs: Income Tax Calculator
Can I use this for FY 2023‑24 & FY 2024‑25?
Absolutely! I support both years; pick the right assessment year (AY).
Does this calculator include surcharge & cess?
Yes — 4% cess plus applicable surcharge is calculated automatically.
I’m above 60—does it consider higher exemption?
Yes: ₹3 L for 60–79 yrs, ₹5 L for 80+ yrs under old regime.
How is rebate under Section 87A applied?
Old regime: ₹12,500 if income ≤ ₹5 L
New regime: ₹60,000 if income ≤ ₹12 L
Why compare two regimes?
Helps you choose tax-saving route based on investments vs slabs.
Conclusion
I’ve crafted this Income Tax Calculator as your go-to tool for Indian tax planning. With all Budget 2024–25 & 2025–26 updates included—slabs, deductions, rebates, cess—you get precise, year-by-year clarity between old and new regimes.
Take charge of your tax journey: discover real savings, avoid surprises, and make informed income tax decisions with confidence.
Ready to calculate your tax?
Try the Income Tax Calculator today to see instantly how much you’ll really pay—compare regimes, plug in your salary, deductions, age, and let the numbers guide your tax-smart decisions.