Income Tax Calculator for FY 2024-2025


PayHR Income Tax Calculator is a simple online tool that helps you estimate your tax based on your income. This tax calculator will show a comparison of both tax regimes.

To know more about Income tax saving guidelines, click here: Income Tax Saving Guidelines for Employee's

Select Your details




Below 60 years

60 to 80 years

80 years and above

You had selected age as :



Enter Your Income details









Your Total Gross Taxable Income is :


Enter Your Exemptions and Deduction details


















Here is your Income Tax Calculation


Allowance | Deductions As per OLD Regime As per NEW Regime
1. Income From Salary (+)
2. Income From Other Source (+)
3. Interest Paid On Home Loan (-)
4. Total Gross Taxable Income (1+2-3)
5. HRA Exemption Amount (-)
6. LTA Exemption Amount (-)
7. Standard Deductions (-)
8. 80C Deduction Amount (-)
9. Individual contribution to NPS 80CCD (-)
10. Medical Insurance 80D (-)
11. Employer contribution to NPS 80CCD (-)
12. 80 Other Deductions (-)
13. Total Exemption & Deduction (5+6+7+8+9+10+11+12)
14. Total Taxable Income (4-13)
15. Total Tax
16. Rebate u/s 87A(-)
17. Surcharge
18. Health & Education Cess
19. Total Income Tax for FY 2024-2025 (15-16+17+18)
Is Marginal Relif Applicable?
Income Tax slab considers as per :


What are changes in Year 2024 Budget


There is no change for salary slab employees...!
The Income tax slab for New Tax Regime effective financial year 2024-25 is as followed

Taxable Income Slab(Rs.) New Tax Rates (Rs.)
Upto 3 lakhs NIL
3 Lakh to 7 Lakh 5%
7 Lakh to 10 Lakh 10%
10 Lakh to 12 Lakh 15%
12 Lakh to 15 Lakh 20%
15 Lakh above 30%


New Tax Regime to be default tax regime
Starting from April 2024, the default tax calculation will be based on the New Tax Regime. If you prefer the Old Tax Regime, it’s essential to take action. Employees who wish to opt for the Old Tax Regime must submit a formal declaration or use the ESS payroll application provided by their employer. Without doing so, your taxes will automatically be calculated under the New Tax Regime.
Ensure your tax preferences are set early to avoid discrepancies!

Standard Deduction limit Increased for new tax regime effective 2024-25
Earlier the standard deduction limit of Rs.50,000/- is now increased to Rs.75,000/-.