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Income Tax Calculator

Calculate your exact income tax under the New Tax Regime (FY 2024-25 / AY 2025-26). Full slab-by-slab breakdown, Section 87A rebate, surcharge with marginal relief, and 4% Health & Education Cess - all in one place.

✓ New Regime FY 2024-25 ✓ Section 87A Rebate ✓ Surcharge + Marginal Relief ✓ Full Slab Breakdown
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Income Tax Calculator
New Tax Regime · FY 2024-25 / AY 2025-26 · Section 115BAC
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Enter your total taxable income after all applicable deductions

— How It Works —

Calculate Your Tax in 3 Steps

Enter your annual taxable income and get a complete slab-by-slab tax breakdown - including Section 87A rebate, surcharge with marginal relief, and Health & Education Cess.

1
Enter Annual Taxable Income
Type your total taxable income after all eligible deductions - this is the figure you'd declare on your ITR, not your gross salary or CTC.
2
Click Calculate Tax
Hit Calculate or press Enter. The calculator applies all 6 New Regime slabs, checks Section 87A rebate eligibility, and computes surcharge with marginal relief automatically.
3
Review Full Breakdown
See your slab-wise tax, rebate applied, surcharge (if any), 4% cess, total tax payable, and effective tax rate - all shown in a detailed line-by-line table below your result.

New Tax Regime Slabs - FY 2024-25 / AY 2025-26

The New Tax Regime under Section 115BAC has revised slabs effective from FY 2023-24 onwards (Budget 2023). These rates apply to FY 2024-25 as well:

Income Slab Tax Rate Max Tax in Slab Note
₹0 – ₹3,00,000 0% Nil Fully exempt
₹3,00,001 – ₹6,00,000 5% ₹15,000 87A rebate if total ≤ ₹7L
₹6,00,001 – ₹9,00,000 10% ₹30,000 —
₹9,00,001 – ₹12,00,000 15% ₹45,000 —
₹12,00,001 – ₹15,00,000 20% ₹60,000 —
Above ₹15,00,000 30% Unlimited + Surcharge if > ₹50L

Total slab tax up to ₹15L = ₹1,50,000. Add 4% Health & Education Cess on top = ₹1,56,000 total at exactly ₹15L income. Section 87A rebate makes tax nil for income up to ₹7,00,000.

Section 87A Rebate & Surcharge

Section 87A Rebate: If your total taxable income does not exceed ₹7,00,000 under the New Regime, your entire income tax liability is rebated to zero - regardless of which slabs you fall into. This makes the effective tax-free limit ₹7 lakhs (vs. ₹3 lakhs basic exemption).

Surcharge: Applicable on high incomes above ₹50 lakhs. Under the New Regime, surcharge is capped at 25% (reduced from 37% in Budget 2023):

Income Range Surcharge Rate Note
Up to ₹50,00,000 Nil No surcharge
₹50,00,001 – ₹1,00,00,000 10% 10% of income tax
₹1,00,00,001 – ₹2,00,00,000 15% 15% of income tax
Above ₹2,00,00,000 25% Capped at 25% (New Regime)

Marginal relief applies at each surcharge threshold - your total tax + surcharge can never exceed (tax at threshold) + (income − threshold). This prevents a ₹1 increase in income from causing a disproportionately large jump in tax liability.

New vs Old Tax Regime - Which Is Better?

The New Tax Regime is now the default from FY 2023-24 onwards. You must explicitly opt into the Old Regime when filing your ITR.

New Regime (Default)
Lower Slab Rates
6 slabs from 0% to 30%. Standard deduction of ₹75,000 for salaried individuals. No HRA, 80C, 80D, or most other deductions. Better for those with few investments or low deductions.
Old Regime (Opt-in)
Higher Rates, More Deductions
Rates up to 30%. Allows HRA, 80C (₹1.5L), 80D, NPS, LTA, home loan interest, and 70+ deductions. Beneficial if total deductions exceed ₹3.75L–₹4.5L depending on income.

General rule: If your total eligible deductions (80C + 80D + HRA + NPS + others) are less than approximately ₹3.75 lakhs, the New Regime typically gives lower tax. If you have high 80C investments, home loan interest, and HRA, the Old Regime may be better - use both calculators and compare.

Quick Reference - Tax at Common Income Levels

Estimated tax under New Regime FY 2024-25 at common income levels (after ₹75,000 standard deduction for salaried):

Annual Taxable Income Income Tax + Cess (4%) Total Tax Payable
Up to ₹7,00,000 ₹0 ₹0 ₹0 (87A Rebate)
₹8,00,000 ₹30,000 ₹1,200 ₹31,200
₹10,00,000 ₹60,000 ₹2,400 ₹62,400
₹12,00,000 ₹90,000 ₹3,600 ₹93,600
₹15,00,000 ₹1,50,000 ₹6,000 ₹1,56,000
₹20,00,000 ₹3,00,000 ₹12,000 ₹3,12,000

These figures assume no surcharge (income under ₹50L). For salaried employees, taxable income = CTC components − standard deduction (₹75,000) − employer PF contribution. Use the calculator above for your exact figure.

— Explore More —

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💡 Quick Income Tax Facts
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New Regime Is Default From FY 2023-24
You are automatically on the New Regime unless you explicitly opt out to the Old Regime when filing your ITR. Salaried employees get a ₹75,000 standard deduction under New Regime.
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Zero Tax Up to ₹7 Lakhs (Section 87A)
Section 87A rebate makes income up to ₹7,00,000 fully tax-free under the New Regime. The rebate equals your full tax liability - so you pay exactly ₹0 even if slabs technically apply.
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Effective Rate Is Always Lower Than Slab Rate
India uses a progressive slab system - only income above each threshold is taxed at that rate. A ₹15L income doesn't mean all ₹15L is taxed at 20%; only ₹12L–₹15L is taxed at 20%.
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4% Health & Education Cess on Total Tax
Cess is levied at 4% on your income tax + surcharge (if any). It applies to everyone - there is no exemption threshold for cess. It cannot be avoided or claimed back.
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Surcharge Capped at 25% Under New Regime
Under the Old Regime, surcharge goes up to 37% for incomes above ₹5 Crore. Under the New Regime, Budget 2023 capped surcharge at 25% - making very high incomes more tax-efficient in the new regime.
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ITR Filing Deadline: July 31 Each Year
The due date for filing ITR without penalty is July 31 of the assessment year (e.g., July 31, 2025 for FY 2024-25). Belated filing up to December 31 attracts a ₹5,000 penalty (₹1,000 if income ≤ ₹5L).
FAQ

Frequently Asked Questions

This calculator uses the New Tax Regime under Section 115BAC for FY 2024-25 (AY 2025-26). The New Regime has been the default since FY 2023-24. It uses 6 slabs (0%, 5%, 10%, 15%, 20%, 30%), includes Section 87A rebate for income up to ₹7L, and surcharge with marginal relief for incomes above ₹50L. An Old Regime calculator (with 80C, HRA, and other deductions) is a separate tool.
Section 87A provides a full rebate on income tax if your total taxable income does not exceed ₹7,00,000 under the New Regime. This means even if your income falls across multiple slabs and generates a tax liability, the entire amount is rebated to zero. For example, at ₹7,00,000 income, slab tax would be ₹25,000 - but Section 87A wipes it completely to ₹0. Above ₹7,00,000, no rebate applies and the full tax is payable.
Enter your annual taxable income - which is your income after all eligible deductions. For salaried employees under the New Regime, start with your gross salary, subtract the ₹75,000 standard deduction, and subtract employer's EPF contribution (which is not part of your income). Other New Regime deductions are limited - NPS employer contribution under Section 80CCD(2) is still allowed. Consult your Form 16 or salary slip for the exact taxable income figure your employer reports.
Surcharge is an additional tax levied on high-income earners as a percentage of your income tax. Under the New Regime: 10% surcharge if income exceeds ₹50L but is ≤ ₹1Cr; 15% if between ₹1Cr and ₹2Cr; 25% if above ₹2Cr (capped at 25% under New Regime, down from 37% in Old Regime for income above ₹5Cr). Marginal relief prevents a ₹1 increase in income from causing a disproportionate jump in total tax - the calculator handles this automatically.
Health and Education Cess is levied at 4% on your income tax plus surcharge (if applicable). It applies to every taxpayer - there is no minimum income threshold below which cess is exempted. The cess funds government spending on health and education initiatives. You cannot claim cess as a deduction or get a refund of cess even if you have excess deductions elsewhere. The calculator includes cess in every calculation automatically.
Your slab rate is the marginal rate that applies to the topmost portion of your income. Your effective tax rate is your total tax payable divided by your total income - it's always lower than the slab rate because lower portions of income are taxed at lower rates. For example, at ₹15L income, the slab rate is 20% but the effective rate is only about 10.4% (₹1,56,000 total tax ÷ ₹15,00,000 income). This distinction is important when comparing job offers or evaluating pay raises.
The New Regime is generally better if your total deductions under the Old Regime (80C + 80D + HRA + NPS + home loan interest + others) are below approximately ₹3.75 lakhs. The Old Regime benefits you if you have high 80C investments (₹1.5L), home loan interest deduction, significant HRA, and 80D health insurance premiums. The break-even point rises with income - at higher incomes, you need even larger deductions to make the Old Regime worthwhile. Calculate under both regimes and compare.
No. All calculations run entirely in your browser using JavaScript. No data is sent to any server, stored in any database, or shared with any third party. Your income figure exists only in your browser tab and disappears when you navigate away or close the tab.

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