Income Tax Calculator AY 2024-25
Calculate your income tax liability for Assessment Year 2024-25 (Financial Year 2023-24) under both New and Old Tax Regimes.
Our Income Tax Calculator for Assessment Year 2024-25 (Financial Year 2023-24) helps you quickly estimate your tax liability under both the New and Old Tax Regimes. Understanding your tax obligations is crucial for effective financial planning.
The New Tax Regime, introduced to simplify tax filing, offers lower tax rates but fewer exemptions and deductions. The Old Tax Regime allows you to claim various deductions (like Section 80C, HRA, etc.) to reduce your taxable income. Use this tool to compare and choose the regime that benefits you most.
- Enter your annual taxable income before deductions.
- Select your age group to apply the correct tax slab rates.
- Choose between the Old Regime and New Regime based on your preference.
- Click Calculate Tax to see your estimated tax liability and breakdown.
- Use your taxable income after all eligible deductions like 80C, 80D, etc.
- Check the latest income tax slabs for the financial year you’re calculating.
- For salaried employees, refer to your Form 16 for accurate numbers.
- Old Regime allows more deductions, while New Regime has lower rates but fewer exemptions.
1. Does this calculator use the latest tax slabs?
Yes, it is updated to reflect the latest income tax slab rates announced by the Government of India.
2. Can I calculate for both regimes?
Absolutely! Simply select Old or New Regime and the calculator will apply the respective rates and rules.
3. Is my income data stored?
No. All calculations are performed locally in your browser. We do not store or share your inputs.