India Income Tax Calculator: New vs Old Regime
Comprehensive comparison between Budget 2024 New Tax Regime (Section 115BAC) and Old Tax Regime with itemized deduction optimizer.
Direct Statutory Calculation Result
Calculation Parameters (Income Tax Act, Central Acts & State Codes)
Statutory Itemized Breakdown
| Statutory Element | Assessed Value | Legal Reference & Notes |
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Frequently Asked Statutory Questions
What are the New Tax Regime slabs for FY 2024-25 (AY 2025-26)?
Under the revised Budget 2024 slabs: Nil up to ₹3,00,000; 5% from ₹3,00,001 to ₹7,00,000; 10% from ₹7,00,001 to ₹10,00,000; 15% from ₹10,00,001 to ₹12,00,000; 20% from ₹12,00,001 to ₹15,00,000; and 30% above ₹15,00,000.
What is the standard deduction in the New Tax Regime?
Finance Act 2024 increased the standard deduction for salaried individuals under the New Tax Regime from ₹50,000 to ₹75,000. Under the Old Regime, it remains at ₹50,000.
How does the Section 87A rebate work in the New Regime?
In the New Tax Regime, if your taxable income does not exceed ₹7,00,000, you receive a full tax rebate of up to ₹25,000 under Section 87A, resulting in zero tax liability (effectively zero tax up to ₹7,75,000 salary after ₹75k standard deduction).
What is the break-even deduction point between Old and New regimes?
Depending on income level, an individual typically needs at least ₹3.75 Lakh to ₹4.25 Lakh in total deductions (80C, 80D, HRA, home loan interest) for the Old Regime to yield lower tax than the New Regime.
Can an individual switch between Old and New tax regimes annually?
Salaried individuals without business income can freely switch between Old and New regimes each financial year when filing their ITR. Individuals with business or professional income can switch out only once in a lifetime.
Engr. Muhammad Shahzad
Verified Fiscal & Statutory AlgorithmistLead software architect and statutory modeling specialist with over a decade of experience designing enterprise-grade algorithmic frameworks, double-entry financial models, and statutory compliance engines across European and global regulatory jurisdictions.
Engr. Muhammad Shahzad
Principal Financial Systems Architect & Indian CBDT & EPFO Statutory Systems Principal Architect
Lead software and systems architect specializing in high-performance browser computing, algorithmic validation, financial models, and zero-telemetry client-side privacy architecture.