Income Tax Calculator for FY 2024-25 & 2025-26
Calculate your tax liability instantly. Compare old vs new regime and find the best option for maximum savings. Covers income up to ₹2 crores with surcharge calculation.
Basic Salary (50% as per New Labour Code 2025): ₹5,00,000
You save with New Regime
₹1,06,080
New regime offers lower tax with higher exemption limit
OLD REGIME
₹1,06,080
NEW REGIME
₹0
New Tax Regime
Key Features:
- • Standard Deduction: ₹75,000
- • Rebate u/s 87A: ₹60,000 (income ≤₹12.0L)
- • No deductions allowed
Old Tax Regime
Key Features:
- • Standard Deduction: ₹50,000
- • Rebate u/s 87A: ₹12,500 (income ≤₹5.0L)
- • 80C/80D deductions allowed
Maximize Section 80C
You can invest ₹1,50,000 more in 80C instruments (EPF, PPF, ELSS) to save up to ₹45,000 in taxes.
Add Health Insurance
Get health insurance under Section 80D to save up to ₹25,000 in deductions (tax saving: ₹7,500).
New Labour Code 2025 Impact
With 50% basic salary rule, your PF and gratuity contributions have increased, but HRA exemption may be lower. Plan your salary structure accordingly.
Disclaimer
This calculator provides estimates based on information you provide and current tax laws (Finance Act 2024, New Labour Code 2025). Actual tax liability may vary. Please consult a Chartered Accountant for personalized advice. FincalFY is not liable for any decisions made based on these calculations.
Last Updated: December 2024