Master Your Taxes with the Income Tax Calculator FY 2024-25
Simplify Tax Planning with the Ai-Powered Income Tax Calculator FY 2024-25
Tax season can be overwhelming, but our Income Tax Calculator FY 2024-25 is here to simplify your financial planning. Designed for salaried professionals, freelancers, and senior citizens, this tool helps you estimate your tax liability accurately under both tax regimes while maximizing savings. Below, we break down its features, usage, and the latest tax slabs.
Click here to use Tax Calculator FY 2024-25 (April 2024 to March 2025):-
Key Features of the Income Tax Calculator
- Dual Tax Regime Support
- Compare liabilities under the New Tax Regime (lower rates, fewer deductions) and Old Tax Regime (higher deductions).
2. Age-Specific Calculations
- Different tax slabs for Under 60, 60-80 years, and 80+ years.
3. Automatic Deductions
- Standard deduction (₹75k for New Regime, ₹50k for Old Regime)
- Section 80C (up to ₹1.5L) and 80D (health insurance) adjustments.
4. Marginal Relief & Rebate 87A
- Auto-applies rebates for incomes up to ₹7L (New Regime) or ₹5L (Old Regime).
5. TDS Per Month Estimation
- Calculates monthly TDS for salaried employees (Total Tax ÷ 12).
6. Tax-Saving Recommendations
- Suggests investments to reduce liabilities.
7. Visual Comparison
- Bar charts and tables to compare regimes.
How to Use the Income Tax Calculator FY 2024-25
- Enter Gross Income: Input your annual salary or business income.
- Select Regime: Toggle between New/Old Regime (default: New).
- Add Deductions: For Old Regime, input 80C and 80D investments.
- Choose Age Group: Select your age bracket for accurate slab rates.
- Salaried Status: Enable to auto-apply standard deduction.
- Calculate: Instantly view tax liability, net income, and TDS/month.
Income Tax Slabs for FY 2024-25 (For Income April 2024- March 2025)
New Tax Regime
| Income Range | Tax Rate |
|---|---|
| Up to ₹3,00,000 | 0% |
| ₹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% |
Tax Slabs under Old Tax Regime
- Under 60: 0% up to ₹2.5L, 5% (₹2.5–5L), 20% (₹5–10L), 30% above ₹10L
- 60-80 Years: 0% up to ₹3L, rates same as above
- 80+ Years: 0% up to ₹5L, 20% (₹5–10L), 30% above ₹10L
How to Calculate Monthly TDS on Salary
For salaried employees:
- Use the calculator to determine Total Annual Tax.
- Divide Total Tax by 12:
Monthly TDS = Total Tax ÷ 12
For Example: If the annual tax is ₹1,20,000, monthly TDS deduction from Salary = ₹10,000 PM.
Why Use This Calculator?
- Accuracy: Updated with FY 2024-25 slabs and rebates.
- Surcharge: Surcharge and Marginal relief will be calculated automatically.
- Time-Saving: Compare regimes in seconds.
- Compliance: Avoid under/overpayment of taxes.
- Planning: Optimize investments with tax-saving tips.
Optimize your tax planning today! Bookmark this tool to stay ahead of deadlines and maximize your savings under the latest tax regulations.
