New Tax Regime for the fiscal years 2024–2025 and 2025–2026 (post-budget 2025 proposals), the Income Tax Department has launched an easy-to-use facility on its website. Individuals can use this calculator to assess which tax regime is more advantageous by entering their income and deductions.
An individual can access the calculator on the income tax website by clicking here.
The government has been encouraging the adoption of the new tax regime by making it the default and potentially making it more attractive than the old tax regime. Budget 2025 has announced no tax if income does not exceed Rs 12 lakh in financial year. Further, the income tax slabs under the new tax regime has revised to provide more tax savings to the taxpayers opting for new tax regime.
Also read: New income tax slabs for FY 2025-26: 30% tax now starts at Rs 24 lakh, income up to Rs 20 lakh to be taxed at 20% in Budget 2025
Income tax calculator provides tax comparison under the new tax regime based on the proposals announced as per Finance Bill 2025. This helps taxpayers to ascertain how much tax they will save from April 1, 2025 due to new income tax slabs.
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