India Income Tax Calculator (New Regime, FY 2024-25)
This calculator applies to India and uses the New Tax Regime slab rates for Financial Year 2024-25 (Assessment Year 2025-26). It estimates income tax on salary after the ₹75,000 standard deduction, applies the Section 87A rebate, and adds the 4% Health & Education Cess. Slabs are identical across age groups under the New Regime.
How to use it
Enter your annual gross salary income and select your age group. The tool subtracts the ₹75,000 standard deduction to find taxable income, applies the progressive slab rates, removes tax via the 87A rebate if taxable income is ₹7,00,000 or below, then adds 4% cess to get your total tax payable and net take-home income.
The formula explained
New Regime slabs: 0% up to ₹3,00,000; 5% on ₹3,00,001–₹7,00,000; 10% on ₹7,00,001–₹10,00,000; 15% on ₹10,00,001–₹12,00,000; 20% on ₹12,00,001–₹15,00,000; 30% above ₹15,00,000. Tax payable = (slab tax − 87A rebate) × 1.04 (cess).
$$\begin{gathered} \text{Total Tax} = (\text{Tax} - \text{Rebate}) \times 1.04 \\[1.5em] \text{where}\quad \left\{ \begin{aligned} T &= \max\!\left(\text{Income} - 75000,\; 0\right) \\ \text{Tax} &= \text{slabs applied to } T \\ \text{Rebate} &= \text{Tax if } T \le 700000,\ \text{else } 0 \end{aligned} \right. \end{gathered}$$
Worked example
Gross salary ₹20,00,000. Taxable = \(20{,}00{,}000 - 75{,}000 = ₹19{,}25{,}000\). Slab tax:
$$\text{Slab Tax} = 0 + 5\% \times 4{,}00{,}000 \,(20{,}000) + 10\% \times 3{,}00{,}000 \,(30{,}000) + 15\% \times 2{,}00{,}000 \,(30{,}000) + 20\% \times 3{,}00{,}000 \,(60{,}000) + 30\% \times 4{,}25{,}000 \,(1{,}27{,}500) = ₹2{,}67{,}500$$Hmm — wait, taxable here is 19,25,000 so the 30% band is on 4,25,000. Cess 4% = ₹10,700; total = ₹2,78,200.
$$\text{Cess} = 4\% \times 2{,}67{,}500 = ₹10{,}700 \qquad \text{Total} = ₹2{,}78{,}200$$
FAQ
Does this include the old regime? No, it models only the New Regime, the default from FY 2023-24 onward.
Is the standard deduction included? Yes, ₹75,000 is auto-deducted from gross salary.
What is the 87A rebate? If taxable income is ₹7,00,000 or below, the entire computed tax is rebated, so you pay zero tax (plus zero cess).
