Income Tax Calculator (New Tax Regime) – FY 2024-25
Calculate your income tax online using the latest New Tax Regime (FY 2024-25). Enter your income details to instantly view your taxable income, tax liability, and annual take-home salary.
Income Details
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Enter your total annual income before any deductions
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e.g., 80CCD(2) - NPS
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Tax already paid
Standard Deduction Applied: A fixed ₹50,000 has been automatically deducted from your Gross Income as per the New Tax Regime.
Tax Calculation Results
Taxable Income
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Tax Liability (Before Cess)
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Final Tax Owed (Incl. 4% Cess)
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ANNUAL NET INCOME (Take-Home Pay)
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Income Breakdown
New Regime Details (FY 2024-25)
- Progressive Tax Slabs: Tax rates increase from 5% to 30% based on income brackets
- Rebate 87A: Full tax waiver for taxable income up to ₹7,00,000
- Health & Education Cess: 4% additional cess on total tax liability
- Standard Deduction: Fixed ₹50,000 for all salaried individuals
- Limited Deductions: Only specific deductions like 80CCD(2) allowed
Note: This calculator provides estimates for standard cases. Complex scenarios involving capital gains, HRA, or other specific deductions may require professional consultation.
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