Income Tax Calculator

Income Tax - Pay Drawn Details

	Pay	DA	HRA	OA	Gross
Total

INCOME TAX STATEMENT 2024-25 (New Regime)

Financial Year	2024-25 (Assessment Year 2025-26)
Name
Designation
PAN
1.a) Gross Salary Income
b) Leave Surrender
c) Festival Allowance/bonus/Ex-gratia and incentive
d) Pay Revision Arrears
e) DA Arrears
e) Total Salary Income (a+b+c+d+e)
2. Deductions
a) Standard Deduction
b) Contribution to NPS
3. Taxable Income
4. Income Tax (Before Rebate)
5. Income Tax Payable (No Rebate if Taxable Income exceeds Rs.7,00,000)
6. Health and Education Cess [@4% of Income Tax]
7. Total Tax Payable (Income Tax + Cess)
8. Less: Relief for Arrears of Salary u/s 89(1)
9. Balance Tax Payable (7 - 8)
10. Amount of Tax already deducted from Salary
11. Balance Income Tax to be Paid

Income Tax Slab for the Financial Year 2024-25

New Regime

Sl. No.	Taxable Income	Percentage of Tax	Other Details
1	Up to Rs. 3,00,000	Nil	Health and Education Cess: 4% of income tax Rebate under Section 87A: Rs.25,000 for individuals, whose total income is between Rs 3 lakh to Rs 7 lakh. Standard Deduction: Rs.75,000 for Salaried Individuals. Surcharge: 10% of Income tax if total income > Rs.50 lakh 15% of Income tax if total income > Rs.1 crore 25% of Income tax if total income > Rs.2 crore
2	Rs. 3,00,001 - Rs. 7,00,000	5% of (Total income - 3,00,000)
3	Rs. 7,00,001 - Rs. 10,00,000	Rs. 20,000 + 10% of (Total income - 7,00,000)
4	Rs. 10,00,001 - Rs. 12,00,000	Rs. 50,000 + 15% of (Total income - 10,00,000)
5	Rs. 12,00,001 - Rs. 15,00,000	Rs. 80,000 + 20% of (Total income - 12,00,000)
7	Above Rs. 15,00,000	Rs. 1,40,000 + 30% of (Total income - 15,00,000)