What is Income Tax?
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them. It is commonly called taxable income.
Income tax generally is computed as the product of a tax rate times the taxable income.
Taxation rates may vary by type or characteristics of the taxpayer and the type of income. Every year Government declares Income Tax slabs.
Income Tax slabs for New Tax Regime: 115BAC
| Financial Year: 2024-2025 |
| Tax Slab | New Regime Tax Slab Rates for FY 2024-25 |
| Rs 0.0 – Rs 3,00000 | NIL |
| Rs 300001 – Rs 7,00000 | 5% above Rs. 3,00000 |
| Rs. 7,00001 – Rs 10,00000 | Rs.20000 + 10% above Rs. 7,00000 |
| Rs 10,00001 – Rs 12,00000 | Rs. 50000 + 15% above Rs. 10,00000 |
| Rs 12,00001 – Rs. 15,00000 | Rs. 80000 + 20% above Rs. 12,00000 |
| More than Rs. 15,00000 | Rs. 140000 + 30% above Rs. 15,00000 |
| Financial Year: 2024-2025 |
Income Tax slabs for Old Tax Regime:
| Tax Slab | Old Regime Tax Slab Rates for FY 2023-24 |
| Up to Rs 2.5 lakhs | Nil |
| Rs. 2.50001 -Rs. 5,00000 | 5% above Rs. 2,50000 |
| Rs. 5,00001 – Rs. 10,00000 | Rs. 12500 + 20% above Rs. 5,00000 |
| More than Rs 10,00000 | Rs.1,12500 + 30% above Rs. 10,00000 |
Standard Deduction –
New Regime – 75000
Old Regime – 50000
Download the circular of Income Tax for the Year 2024-2025 in PDF
Download the Excel Sheet to calculate the individual tax- New Regime only
| Financial Year: 2024-2025 |
Download the Excel Sheet to get your tax.
(Taxable Income above 15 lakh) (New Regime)
(15 लाख पेक्षा जास्त उत्पन्न असेल तर हे शीट वापरा.)
Click below-
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Download the Excel Sheet to get your tax.
(Taxable Income between 12 lakh to 15 lakh) (New Regime)
12 लाख पेक्षा जास्त व 15 लाख पेक्षा कमी उत्पन्न असेल तर हे शीट वापरा.
Click below-
👇
Download the Excel Sheet to get your tax.
(Taxable Income between 10 lakh to 12 lakh) (New Regime)
(10 लाख पेक्षा जास्त व 12 लाख पेक्षा कमी उत्पन्न असेल तर हे शीट वापरा.)
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Download the Excel Sheet to calculate the individual tax For NPS Acount Holder- New Regime only
| Financial Year: 2024-2025 |
Useful for NPS Holder
Download the Excel Sheet to get your tax. (For NPS)
(Taxable Income from 10 lakh to 12 lakh)
Click below-
Download the Excel Sheet to get your tax. (For NPS)
(Taxable Income from 12 lakh to 15 lakh)
Click below-
Download the Excel Sheet to get your tax. (For NPS)
(Taxable Income Above 15 lakh)
Click below-
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Click on the following image to calculate your tax–
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Income Tax calculator and other information is only for Guidance. Do consult your C.A. to get authentic information.
See important information by clocking on the following image-
Income Tax-
Calculate your tax for year 2024-2025
Income Tax Department (Click Here for official website)
Official Letter- Income Tax 2024-25
New Regime
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