Income Tax CalculatorFY 2024-25 — Old & New Regime
Calculate your exact income tax liability for FY 2024-25 (AY 2025-26) under both old and new tax regimes. Compare regimes, maximise deductions, and get CA-assisted ITR filing from just ₹499.
Basic Information
New Regime — Standard Deduction of ₹75,000
Under the new tax regime (FY 2024-25), a standard deduction of ₹75,000 is automatically applied for salaried individuals. Most other deductions (80C, HRA, home loan interest) are not available. The new regime is the default from FY 2023-24 onwards.
Regime Comparison — Which Saves More?
New Regime
₹71,500
Total tax payable
6.0% effective
✓ Better for youOld Regime
₹72,280
Total tax payable
6.0% effective
New regime saves you ₹780 in taxes
Total Tax Payable
₹71,500
File Your ITR with a CA — Starting ₹499
Our CA team files your ITR with 100% accuracy, maximises deductions, and handles your complete compliance — in 24–48 hours.
Free ConsultationRecommended: New Tax Regime
Based on your inputs, the new regime saves you ₹780 in taxes. Our CA team will verify this before filing.
Income Tax in India — Complete Guide for FY 2024-25
Everything you need to know about income tax slabs, deductions, regimes, and filing for Assessment Year 2025-26.
Income Tax Slabs FY 2024-25 — New Tax Regime
The new tax regime is the default for FY 2024-25 (AY 2025-26). The Budget 2024 increased the standard deduction for salaried individuals from ₹50,000 to ₹75,000 under the new regime, and the Section 87A rebate threshold remains at ₹7,00,000 — making income up to ₹7 lakh effectively tax-free for most salaried individuals.
The new regime does not allow deductions under Section 80C, 80D, HRA exemption, LTA, home loan interest under Section 24B, or most other exemptions. However, it offers lower slab rates and reduced compliance burden — making it ideal for individuals with limited investments or who are in their early career stages.
New Regime — Tax Slabs FY 2024-25
*After Section 87A rebate of ₹25,000 for income ≤ ₹7 lakh
Old Regime — Tax Slabs FY 2024-25 (Below 60)
*After Section 87A rebate of ₹12,500 for income ≤ ₹5 lakh
Old Regime — Maximise Deductions
The old tax regime remains available for taxpayers who actively invest in tax-saving instruments. The combined deduction limit under Section 80C alone is ₹1,50,000 — covering PPF, ELSS mutual funds, LIC premiums, EPF contributions, home loan principal repayment, children's school fees, and NSC investments.
For a salaried individual with a home loan, the old regime can offer deductions exceeding ₹4–5 lakh annually: ₹50,000 (standard deduction) + ₹1,50,000 (80C) + ₹2,00,000 (home loan interest under Section 24B) + ₹25,000 (80D) + ₹50,000 (NPS under 80CCD(1B)) = ₹4,75,000 total deductions. At a 30% slab, this translates to over ₹1.4 lakh in tax savings.
The key break-even point: if your total deductions exceed approximately ₹3.75 lakh (for income above ₹15 lakh), the old regime saves more tax. Our calculator automatically computes both and highlights the better option.
Key Deductions Available Under Old Tax Regime
Section 80C
Max: ₹1,50,000
PPF, ELSS, LIC premium, EPF, NSC, home loan principal, 5-year FD, school fees
Section 80D
Max: ₹25,000–₹1,00,000
Health insurance premium for self, spouse, children (₹25,000) and parents (additional ₹25,000–₹50,000)
Section 24B
Max: ₹2,00,000
Interest paid on home loan for self-occupied property. Unlimited deduction for let-out property
HRA Exemption
Max: Actual / 50%-40% basic
House Rent Allowance exempt from tax — minimum of actual HRA, 50%/40% of basic, or rent minus 10% of basic
Section 80CCD(1B)
Max: ₹50,000
Additional NPS contribution over and above the ₹1.5 lakh 80C limit — extra ₹50,000 deduction
Section 80G
Max: 50%–100% of donation
Donations to approved charitable institutions and funds — PM Relief Fund, NGOs, hospitals, educational institutions
How to File Income Tax Return After Calculating Tax
Once you've calculated your income tax liability using this calculator, the next step is filing your Income Tax Return (ITR) on the Income Tax e-filing portal (incometax.gov.in) by the due date — generally July 31 for individuals not liable to tax audit.
The ITR form applicable depends on your income type: ITR-1 (Sahaj) for salaried individuals with income up to ₹50 lakh from one house property and other sources; ITR-2 for capital gains, multiple house properties, or foreign income; ITR-3 for business or professional income; ITR-4 (Sugam) for presumptive taxation under Section 44AD/44ADA.
Before filing, reconcile your income with Form 26AS (tax credit statement) and AIS (Annual Information Statement) available on the IT portal. Any discrepancy between reported income and AIS can trigger a scrutiny notice under Section 143(2). Taxvio's CA team handles complete AIS reconciliation as part of our ITR filing service.
Gather Documents
Form 16, Form 26AS, AIS, bank statements, investment proofs, rent receipts
Choose Correct ITR Form
ITR-1/2/3/4 based on income sources and business activities
Choose Regime
Compare old vs new regime using this calculator and select the beneficial one
File & E-Verify
File ITR online and e-verify using Aadhaar OTP, net banking, or DSC
Why File ITR with Taxvio?
- ICAI-certified Chartered Accountants handle your ITR — not automated software
- ITR filed within 24–48 hours of document submission
- Maximum deductions identified — clients save ₹10,000–₹1,50,000+ in tax
- AIS/TIS/Form 26AS reconciliation to prevent mismatch notices
- Correct ITR form selection — ITR-1, 2, 3, 4, 5, 6, 7 all covered
- WhatsApp-first support — real-time updates, no waiting queues
- Post-filing support — scrutiny notices, revised returns, refund follow-up
- Transparent pricing from ₹499 — no hidden charges, no surprises
Income Tax — Frequently Asked Questions
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Starting ₹499 · ITR-1, 2, 3, 4, 5, 6, 7 · CA-Assisted · 100% Online