Updated as per latest budget on 2025 – 1st Feb, 2025.
Latest BudgetExempt Allowances ₹0
Standard Deductions ₹0
Chapter VI A Deductions ₹0
Income tax: ₹0
Surcharge: ₹0
Health and education cess: ₹0
Total payable: ₹0
Individuals can file taxes under either the old or new tax regimes, each offering different deductions. Our Income Tax Calculator is a cost-effective, user-friendly tool to help you estimate liabilities and compare both regimes without needing a tax consultant.
| Income Range (₹) | Tax Rate |
|---|---|
| Upto 4,00,000 | Nil |
| 4,00,001 - 8,00,000 | 5% |
| 8,00,001 - 12,00,000 | 10% |
| 12,00,001 - 16,00,000 | 15% |
| 16,00,001 - 20,00,000 | 20% |
| 20,00,001 - 24,00,000 | 25% |
| Above 24,00,000 | 30% |
Example: Neha's Salary – ₹12L basic, ₹6L HRA, ₹2.52L special allowance, ₹20K LTA. She pays ₹40K rent, lives in Delhi.
| Component | Amount | Exemption/Deduction | Taxable (Old) | Taxable (New) |
|---|---|---|---|---|
| Basic Salary | 12,00,000 | - | 12,00,000 | 12,00,000 |
| HRA | 6,00,000 | 3,60,000 | 2,40,000 | 6,00,000 |
| Special Allowance | 2,52,000 | - | 2,52,000 | 2,52,000 |
| LTA | 20,000 | 12,000 | 8,000 | 20,000 |
| Standard Deduction | - | - | 50,000 | 75,000 |
Surcharge for high-income individuals and 4% Health & Education Cess applies. Surcharge rates range from 10% to 25% based on total income, capped at 25% in the new regime.
| Slab (₹) | Old Regime (<60)< /th> | 60–80 | 80+ |
|---|---|---|---|
| Upto 2,50,000 | Nil | Nil | Nil |
| 2,50,001 - 3,00,000 | 5% | Nil | Nil |
| 3,00,001 - 5,00,000 | 5% | 5% | Nil |
| 5,00,001 - 10,00,000 | 20% | 20% | 20% |
| Above 10,00,000 | 30% | 30% | 30% |
