FY 2024–25 tax slabs
New regime (default)
| Income slab | Rate |
|---|---|
| Up to ₹3,00,000 | Nil |
| ₹3,00,001 – ₹7,00,000 | 5% |
| ₹7,00,001 – ₹10,00,000 | 10% |
| ₹10,00,001 – ₹12,00,000 | 15% |
| ₹12,00,001 – ₹15,00,000 | 20% |
| Above ₹15,00,000 | 30% |
Standard deduction: ₹75,000. Rebate u/s 87A up to ₹7 lakh taxable income (zero tax).
Old regime
| Income slab | Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Standard deduction: ₹50,000. All deductions (80C, 80D, HRA, 24b, etc.) available.
FAQ
What deductions are available in the old regime?
Section 80C (₹1.5L), 80D (health insurance ₹25-50K), HRA exemption, home loan interest u/s 24(b) (₹2L), NPS u/s 80CCD(1B) (₹50K), and more. These are not available in the new regime.
Is cess included?
Yes. A 4% health and education cess is automatically added to the computed tax in both regimes.
What about surcharge?
Surcharge applies for incomes above ₹50 lakh (10%), ₹1 crore (15%), ₹2 crore (25%), and ₹5 crore (37%). This calculator includes surcharge for applicable income levels.