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💰 Income Tax Calculator

Calculate Tax Liability & Compare Old vs New Regime

Enter Your Income Details

💰 Deductions (Old Regime) ▼
Max: ₹1,50,000

💡 Quick Tips

  • New regime is default from FY 2023-24
  • Standard deduction: ₹50K (salaried)
  • Rebate u/s 87A if income < ₹7L

Your Tax Calculation

Regime Comparison

New Regime
₹0
Effective: 0%
Old Regime
₹0
Effective: 0%

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Frequently Asked Questions

❓ Which tax regime is better for me - Old or New?

It depends on your deductions. If you have significant deductions (80C, HRA, home loan), the old regime might be better. If you have minimal deductions, the new regime usually saves more tax. Use our calculator above to compare both regimes for your specific situation.

❓ What is the standard deduction for FY 2024-25?

The standard deduction for salaried individuals is ₹50,000 for FY 2024-25 under both old and new tax regimes. This is automatically deducted from your gross salary before calculating taxable income.

❓ How can I reduce my tax liability legally?

Here are legal ways to reduce tax:

  • Maximize Section 80C deductions (EPF, PPF, ELSS, LIC)
  • Claim HRA exemption if paying rent
  • Invest in NPS for additional 80CCD(1B) deduction
  • Claim home loan interest deduction
  • Health insurance premiums under 80D

Contact our CA experts for personalized tax planning

❓ What is Section 87A rebate?

Section 87A provides a tax rebate for individuals with taxable income up to ₹7,00,000 under the new regime and ₹5,00,000 under the old regime. If you qualify, your entire tax liability can be reduced to zero through this rebate.

View All FAQs →