Calculate your income tax under the new regime for FY 2024-25 with updated slabs, 87A rebate up to ₹7 lakh taxable income, and 4% cess.
This is the FY 2024-25 calculator (AY 2025-26)
Filing or planning for FY 2025-26? The ₹12L rebate applies there — not here.
Tax Slabs FY 2024-25
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Pre-filled data from income tax portal, e-verification in seconds — no CA needed for most salaried filers.
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📋 This calculator is for AY 2025-26 (FY 2024-25) — ITR filing deadline: 31 July 2025
| Feature | FY 2024-25 (This calc) | FY 2025-26 (New) |
|---|---|---|
| 87A Rebate Limit | ₹7 lakh | ₹12 lakh |
| Standard Deduction | ₹50,000 | ₹75,000 |
| Effectively tax-free up to | ₹7.5L gross salary | ₹12.75L gross salary |
| Tax on ₹10L income | ~₹22,500 | ₹0 |
| Tax on ₹15L income | ~₹1,05,000 | ~₹45,000 |
| Tax on ₹20L income | ~₹2,25,000 | ~₹1,65,000 |
If you are filing ITR for FY 2024-25 (Assessment Year 2025-26), use this calculator. For your current year tax planning (FY 2025-26), use our New Income Tax 2025-26 Calculator — FY 2025-26 slabs are significantly more generous.
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₹0–3L (0%), ₹3–7L (5%), ₹7–10L (10%), ₹10–12L (15%), ₹12–15L (20%), above ₹15L (30%). Standard deduction of ₹75,000 applies.
Under the new regime for FY 2024-25, the rebate u/s 87A applies if taxable income (after SD) = ₹7 lakh. The full tax is rebated, making net tax zero.
FY 2025-26 brought significantly better slabs and raised the 87A rebate from ₹7L to ₹12L, making more people tax-free. The standard deduction of ₹75K remains the same.
FY 2024-25 new regime: Rs 7 lakh rebate limit, standard deduction Rs 50,000. FY 2025-26 new regime: Rs 12 lakh rebate limit, standard deduction Rs 75,000. A person earning Rs 10L pays Rs 22,500 tax under 2024-25 new regime vs zero under 2025-26. If you are filing for FY 2024-25, use this calculator; for FY 2025-26, use the dedicated FY 2025-26 calculator.
The Section 87A rebate for FY 2024-25 under the new regime was Rs 25,000 (offsetting full tax liability for income up to Rs 7 lakh). Under the old regime, the 87A rebate was Rs 12,500 (for income up to Rs 5 lakh). For FY 2024-25, the new regime was better for most taxpayers earning below Rs 15-18L depending on their deductions.
Standard deduction under both the new and old regime for FY 2024-25 is Rs 50,000. This replaced the earlier transport and medical allowance exemptions. For income of Rs 7.5L with no other deductions: taxable income = Rs 7L after standard deduction, which qualifies for the full 87A rebate = zero tax in the new regime.
Yes - under the OLD regime for FY 2024-25: EPF employee contribution, PPF deposits, ELSS, LIC premiums, NSC, home loan principal and tuition fees all qualify under Section 80C (combined limit Rs 1.5L). In addition: health insurance 80D up to Rs 25,000, home loan interest Section 24 up to Rs 2L, and NPS 80CCD(1B) Rs 50,000. These deductions are NOT available in the new regime.
For FY 2024-25, Section 87A rebate under the new regime: maximum rebate of Rs 25,000 applies if taxable income (after Rs 50,000 standard deduction) is up to Rs 7 lakh, making net tax zero. A person earning Rs 7.5L gross gets taxable income of Rs 7L and pays zero tax. For FY 2025-26, the rebate limit was raised to Rs 12 lakh (after Rs 75,000 SD), so a Rs 12.75L salary earner pays zero tax. If you are filing your ITR for AY 2025-26 (FY 2024-25), the Rs 7L limit applies — not the new Rs 12L limit.
Compare tax liability side-by-side under old and new income tax regimes. Find which regime saves you more money.
Calculate income tax under the new regime for FY 2025-26 with updated slabs, 87A rebate, surcharge and cess.
Calculate income tax under the old regime with deductions like 80C, 80D, HRA exemption and standard deduction.