Income Tax Calculator India

FY 2024-25 new & old regime tax with surcharge, cess, 87A rebate and slab-wise breakdown.

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About the Income Tax Calculator India

Income Tax Calculator India computes your liability under either the new (default) or old regime using the slab rates announced in the Union Budget 2024-25. The new regime applies slabs of 0% up to ₹3 lakh, 5% from ₹3–7 lakh, 10% from ₹7–10 lakh, 15% from ₹10–12 lakh, 20% from ₹12–15 lakh and 30% above, with a standard deduction of ₹75,000. The old regime keeps the familiar 0/5/20/30 slabs with a ₹50,000 standard deduction plus your Chapter VI-A deductions (80C, 80D, HRA etc.). Health & education cess of 4% is applied to the final tax, surcharge kicks in above ₹50 lakh and the 87A rebate zeroes out the bill for incomes up to ₹7 lakh new regime / ₹5 lakh old regime. Use this as a fast decision helper, not as a substitute for a CA.

How to use

Enter your gross annual salary and any 80C / 80D / HRA deductions.
Click Compute to see liability under both regimes side-by-side.
Check the slab-wise breakdown to understand exactly where the tax comes from.

Benefits & key features

Both regimes computed in one click — pick the cheaper one.
Cess and 87A rebate applied automatically.
Slab-wise breakdown shows where every rupee of tax originates.
Saves a trip to tax-consultant Excel sheets.

Pro tip

Use this as a decision helper, not for filing. For complex income (capital gains, rental, foreign), please consult a qualified tax professional.

Why choose toolsfy for Finance tools?

Finance calculators on banking websites are designed to sell products. toolsfy's are designed to answer a question. Every formula is written out on the landing page so you can audit it against your bank's own fine print, and every calculation respects Indian conventions — rupees, lakhs, financial-year slabs, GST tiers — without forcing you into an anglicised spreadsheet.

Common use cases

Home-loan applicants comparing EMI under different tenure options before their bank appointment on Monday.
Small-business owners estimating break-even units before launching a new product line, with fixed costs and contribution margin shown transparently.
Salaried professionals choosing between the new and old income-tax regime, slab-by-slab, before the next TDS declaration deadline.

Frequently asked questions

Are tax rates up to date?

Yes — the Income Tax calculator uses the FY 2024-25 slabs announced in the Union Budget. GST and surcharge bands reflect the latest CBIC notifications.

Does this replace a CA or financial adviser?

No. These calculators are decision helpers for routine questions. Anything involving capital gains, NRI status or trust income still needs a qualified professional.

Can I export a report?

Copy the detailed output panel — it includes the full formula breakdown — or take a screenshot. There is no cloud export because no cloud is involved.