Budget 2024-25 & FY 2025-26 Ready
New vs Old Tax Regime Comparison
Income Tax Calculator (FY 2024-25 / FY 2025-26)
Compare your income tax liability under the New Tax Regime (with ₹75,000 standard deduction) vs the Old Tax Regime (80C, 80D, HRA, Home Loan). Discover your exact monthly take-home salary and tax savings.
Financial Year:
Age Category:
Annual Income Details
₹
₹12.00 L₹
₹50,000Deductions & Exemptions (Old Regime Only)
Auto-calculatedSection 80C (PPF, ELSS, EPF, LIC)Max ₹1.5L
Section 80D (Health Insurance)Max ₹1L
Section 80CCD(1B) (NPS)Max ₹50k
Section 24(b) (Home Loan Interest)Max ₹2L
HRA Exemption
Other Deductions (80E, 80G, 80TTA)
Best Tax Regime For YouNew Regime
Annual Tax Savings₹32,500
You will pay less tax and take home more salary by opting for the New Regime.
NEW REGIME₹79,300In-Hand: ₹97,558/mo
OLD REGIME₹1,11,800In-Hand: ₹94,850/mo
Key Budget 2024 Highlights
- Standard Deduction: Hiked to ₹75,000 for salaried employees in the New Regime.
- Zero Tax up to ₹7.75 Lakhs: Section 87A rebate covers income up to ₹7L + ₹75k std deduction.
- Revised Slabs: 15% rate now starts above ₹10 Lakhs, and 20% starts above ₹12 Lakhs.
Comparative Tax Slabs FY 2024-25 / FY 2025-26
Official income tax rate slabs under the New vs Old Tax Systems in India.
New Tax Regime Slabs (Default)
| Income Slab | Tax Rate |
|---|---|
| Up to ₹3,00,000 | Nil |
| ₹3,00,001 – ₹7,00,000 | 5% |
| ₹7,00,001 – ₹10,00,000 | 10% |
| ₹10,00,001 – ₹12,00,000 | 15% |
| ₹12,00,001 – ₹15,00,000 | 20% |
| Above ₹15,00,000 | 30% |
Old Tax Regime Slabs (With Exemptions)
| Income Slab | Tax Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |