India Edition
Income Tax Calculator
Updated for Budget 2024 (FY 2024-25). Check which tax regime saves you more money.
Income Details (FY 2024-25)
Standard Deduction of ₹75,000 is automatically applied in the New Regime (Budget 2024 update).
Tax Liability
Total Tax Payable
₹0
Effective Rate: 0.00%
Gross Income₹1,200,000
Standard Deduction- ₹75,000
Taxable Income₹1,125,000
Rebate u/s 87A- ₹52,500
Health & Education Cess (4%)+ ₹0
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New vs Old Regime: Key Changes
The **New Regime** is now the default. It offers lower tax rates but fewer deductions.
- Standard Deduction: Increased to ₹75,000 in New Regime (from ₹50,000).
- Tax Free Limit: Income up to ₹7 Lakhs is tax-free in New Regime (u/s 87A rebate).
- Old Regime: Best if you have high deductions (HRA, Home Loan Interest, 80C > 1.5L).