Struggling to understand how much income tax you need to pay? Don’t worry. Our Income Tax Calculator for India FY 2024-25 makes it simple. Whether you're a salaried employee, freelancer, or business owner, this tool helps you calculate your income tax, compare between the old and new tax regimes, and make better financial decisions in minutes.
What is an Income Tax Calculator?
An Income Tax Calculator is a free online tool designed to help Indian taxpayers compute their income tax liability based on the latest government rules, tax slabs, and deductions. It supports both the Old Tax Regime and the New Tax Regime introduced under Section 115BAC.
This calculator takes into account your income, deductions (under Section 80C, 80D, etc.), exemptions (like HRA), and helps you understand which regime is more tax-efficient for you.
How to Use the Income Tax Calculator (Step-by-Step)
- Enter your gross annual income (from salary, freelancing, or business)
- Add your deductions under sections like 80C, 80D, NPS, education loan, etc.
- Select your age group to apply the correct tax slab (below 60, senior citizen, super senior)
- Choose tax regime: Old or New
- Click “Calculate Tax” to see your total tax liability
The calculator displays your taxable income, tax amount payable, and allows you to compare both regimes side by side.
Who Should Use This Income Tax Calculator?
- Salaried employees calculating TDS and income tax for FY 2024-25
- Freelancers and gig workers planning tax-saving investments
- Business owners understanding tax impact under presumptive taxation
- Individuals comparing the old vs. new income tax regime
Benefits of Using This Tax Calculator
- Instant Results: Save hours of manual calculations
- Accurate & Updated: Based on latest FY 2024-25 slab rates
- Compare Tax Regimes: See where you save more – old vs. new
- Plan Deductions Better: Know how much to invest under 80C, 80D, etc.
- Zero Cost: Completely free and online, no registration required
Frequently Asked Questions (FAQs)
Q1. Is the Income Tax Calculator applicable for FY 2024-25?
Yes, the calculator is updated for FY 2024-25 with the latest slab rates and tax rules.
Q2. How accurate is the tax calculation?
It provides highly accurate results based on your inputs and the prevailing tax laws. However, it’s always advisable to consult a tax professional for filing.
Q3. Can I compare the old vs. new tax regime?
Absolutely! The calculator shows a side-by-side comparison of both regimes, helping you choose the one with lower tax outgo.
Q4. Does it consider deductions under Section 80C?
Yes. You can enter values under 80C, 80D, 80G, and other applicable deductions for accurate tax calculations under the old regime.
Q5. Is this tool suitable for freelancers and small businesses?
Yes, you can input your business or freelance income and get a clear estimate of your income tax liability.
Latest Income Tax Slabs for FY 2024-25
🧾 New Tax Regime Slabs (FY 2024-25)
- ₹0 – ₹3 lakh: Nil
- ₹3 lakh – ₹6 lakh: 5%
- ₹6 lakh – ₹9 lakh: 10%
- ₹9 lakh – ₹12 lakh: 15%
- ₹12 lakh – ₹15 lakh: 20%
- Above ₹15 lakh: 30%
📄 Old Tax Regime Slabs
- ₹0 – ₹2.5 lakh: Nil
- ₹2.5 lakh – ₹5 lakh: 5%
- ₹5 lakh – ₹10 lakh: 20%
- Above ₹10 lakh: 30%
Note: Additional cess of 4% is applied on the total tax amount in both regimes.
Plan Smarter. Pay Less Tax.
Use our Income Tax Calculator India for FY 2024-25 and maximize your tax savings. Get clarity in seconds and compare the best tax regime for you.
Try the Calculator Now