Online income tax calculator India is used to calculate income tax on taxable income arising from salary, freelancing or a business or profession income, saving a/c interest income, other interest, capital gain income, rental income, or other income. You can minimize your tax liability or expense by managing your taxable income through various legal ways like claiming tax exemptions and rebates.
Tax Rates Old Regime
Tax rates for FY 2023-24 (AY 2024-25) and FY 2024-25 (AY 2025-26).
| Tax Slabs | Individuals Age <60 Years | Senior Citizen Aged 60 to 80 years | Super Senior Citizen Aged more than 80 years |
| Up to Rs. 250,000 | Nil | Nil | Nil |
| Rs. 250,001 to 300,000 | 5% | Nil | Nil |
| Rs. 300,001 to 500,000 | 5% | 5% | Nil |
| Rs. 500,001 to 1,000,000 | 20% | 20% | 20% |
| Above Rs. 1,000,000 | 30% | 30% | 30% |
Tax Rates New Regime
Tax rates for FY 2023-24 (AY 2024-25) and FY 2024-25 (AY 2025-26).
| Tax Slabs | Tax Rates | Tax Slabs | Tax Rates |
| Up to Rs. 300,000 | Nil | Up to Rs. 300,000 | Nil |
| Rs. 300,001 to 600,000 | 5% | Rs. 300,001 to 700,000 | 5% |
| Rs. 600,001 to 900,000 | 10% | Rs. 600,001 to 1,000,000 | 10% |
| Rs. 900,001 to 1,200,000 | 15% | Rs. 1,000,001 to 1,200,000 | 15% |
| Rs. 1,200,001 to 1,500,000 | 20% | Rs. 1,200,001 to 1,500,000 | 20% |
| Above Rs. 1,500,000 | 30% | Above Rs. 1,500,000 | 30% |
How to Calculate Income Tax for FY 2024-25 (AY 2025-26) in India?
Calculation of Gross Taxable Income in India
Income before any deduction is called gross taxable income.
Tax Period and Assessment Period
A Financial Year (FY) is a 12-month period in which a person obtains income for tax purposes. An Assessment Year (AY) is a period when the previous year’s earnings are assessed, taxes are due, and the filing of Income Tax Returns (ITRs) is done.
Taxpayer Catagories
New Regime
Tax rates under the new tax regime are the same for every citizen & NRIs
Old Regime
Tax rates under the old tax regime are divided into three categories:
- Indian Residents & NRIs aged less than 60 years
- Resident Senior citizens: Aged 60 to 80 years
- Resident Super Senior citizens: Aged more than 80 years
Tax Refund Estimator | Tax Refund Calculator
federal tax calculator | Union tax calculator
These income tax rates and tax calculators can be used in all the states and union territories of India.