Income Tax Calculator (OLD Regime)

Income Tax Calculator 2024-25 FY (OLD Regime)

	Pay	DA	HRA	OA	Gross	PF	SLI	GIS	LIC	FBS	HBA
Total

INCOME TAX STATEMENT 2024-25 (Old 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
80 C
i) PF
ii) SLI
iii) GIS
iv) LIC
v) FBS
vi) HBA
80C Total (Max:150000)
a) Standard Deduction
b) Contribution to NPS
c) 80D(Medical Insurance Premium)
d) 80EE(Housing Loan Interest) (1/4/16 to 31/3/17) Max:50000
e) 80EEA(Housing Loan Interest) (1/4/19 to 31/3/22) Max:150000
f) Prof Tax / Other Eligible deductions
3. Taxable Income
4. Income Tax (Before Rebate)
5. Income Tax Payable (Eligible for Rebate of Rs.12,500)
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 2024-25 (FY)OLD Regime

Sl. No.	Net Income Range	Individual Resident - Age: below 60 years	Senior Citizen - Age: 60 years or more but below 80 years	Super Senior Citizen - Age: 80 years or more
1	Upto Rs. 2,50,000	Nil	Nil	Nil
2	Upto Rs. 3,00,000		Nil
3	Upto Rs. 5,00,000	5% of (Total income - 2,50,000)	5% of (Total income - 3,00,000)
4	Rs. 5,00,001 - Rs. 10,00,000	Rs. 12,500 + 20% of (Total income - 5,00,000)	Rs. 10,000 + 20% of (Total income - 5,00,000)	20% of (Total income - 5,00,000)
5	Above Rs. 10,00,000	Rs. 1,12,500 + 30% of (Total income - 10,00,000)	Rs. 1,10,000 + 30% of (Total income - 10,00,000)	Rs. 1,00,000 + 30% of (Total income - 10,00,000)
Health and Education Cess: 4% of income tax Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore. Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore. Rebate under Section 87A: Rs.12,500 for individuals, whose total income between Rs 2.5 lakh to Rs 5 lakh. Standard Deduction: Rs.50,000 for Salaried Individuals.