This calculator is for FY 2024-25, a previous year. For income earned from 1 April 2026, use the current year's slabs.
Go to the FY 2026-27 calculator →New Tax Regime Income Tax Calculator (FY 2024-25)
Calculate income tax under New Tax Regime slabs with standard deduction and employer NPS exemptions.
Yearly NPS Contribution: ₹0 (Max 14% of basic)
PF, gratuity & professional tax (yearly)
These come out of your pay, so they lower your in-hand amount. Your own PF and professional tax give no tax deduction in the new regime (no Section 80C, no professional tax deduction). Employer PF up to 12% of basic and gratuity are part of CTC but are never taxed as salary, so they are removed before tax is worked out. Defaults: PF 12% of basic, gratuity 4.81% of basic.
FY 2024-25 NEW TAX REGIME
3.55% Tax Rate- Total Income Tax Payable
- ₹35,460
- Effective Tax Rate: 3.55% of your CTC of ₹10.00 L.
- In-Hand (Monthly, after PF, PT & tax)
- ₹68,174/ month
- After income tax, employee PF, professional tax, and the employer PF, gratuity and NPS that are part of CTC but not paid to you.
- In-Hand Salary (Yearly)
- ₹8.18 L
- Taxable Income
- ₹8.41 L
- Standard Deduction
- ₹75,000
- Employer NPS Deduction (Sec 80CCD-2)
- ₹0
In-Hand = CTC − employer PF − gratuity − employer NPS − employee PF − professional tax − income tax.
New Regime Tax Calculation Summary
- Annual CTC:
- ₹10,00,000
- Basic Salary (50% of CTC):
- ₹5,00,000 / yr₹41,667 / mo
- Employer PF & gratuity (in CTC, not taxed):
- −₹84,050
- Standard Deduction:
- −₹75,000
- Employer NPS Deduction (Sec 80CCD-2):
- −₹0 / yr₹0 / mo
- Taxable Income:
- ₹8,40,950
- Income Tax (Before Cess):
- ₹34,095
- Health & Education Cess (4%):
- ₹1,364
- Rounding to the nearest ₹10:
- +₹1
- Total Income Tax Payable:
- ₹35,460
- Monthly Income Tax (TDS):
- ₹2,955
- Monthly In-Hand (after PF, PT & tax):
- ₹68,174
Slab-wise Tax Breakdown
- 3.0L - 7.0L (5%)
- ₹20,000
- 7.0L - 10.0L (10%)
- ₹14,095
- Education Cess (4%)
- ₹1,364
- Rounding to the nearest ₹10
- ₹1
CTC & Take-Home Salary Distribution
Visual distribution of annual CTC across in-hand salary, income tax, and PF, gratuity, NPS and professional tax.
- In-Hand Salary81.8% of CTC
- ₹8.18 L
- Total Income Tax3.55% Effective Tax Rate
- ₹35,460
- PF, Gratuity, NPS & PT14.6% of CTC
- ₹1.46 L
New regime tax formula, with your numbers
Taxable income T = CTC ₹10,00,000 − employer PF & gratuity ₹84,050 + retiral perquisite ₹0 − standard deduction ₹75,000 − employer NPS ₹0, rounded to the nearest ₹10 = ₹8,40,950
R: taxable income is above ₹7,00,000 and too far above it for marginal relief, so R = ₹0.
P is the sum of the slab-wise breakdown above. H is nil up to ₹50 lakh of taxable income; above it the surcharge is 10%, 15% above ₹1 crore and 25% above ₹2 crore of P − R, cut by marginal relief at each step. K is 4% of P − R + H. The taxable income T and the tax are each rounded to the nearest ₹10 (Section 516 of the Income-tax Act, 2025, which carries over sections 288A and 288B of the 1961 Act); D is that last step.
About New Tax Regime Calculator
The New Tax Regime Calculator for FY 2024-25 helps you estimate your income tax liability under the new tax regime. It starts from your annual CTC, removes the employer PF and gratuity that sit in CTC but are not taxed as salary, then applies the ₹75,000 standard deduction and employer NPS contributions to calculate your tax liability.
How it Works
The calculator uses the following parameters to compute your tax liability:
- Annual CTC: your total cost-to-company for the financial year, including employer PF and gratuity
- Standard Deduction: Fixed deduction of ₹75,000 for salaried individuals
- NPS Deduction: Employer contribution to NPS under Section 80CCD(2) (up to 14% of basic salary)
- Tax Rebate: Available under Section 87A for taxable income up to ₹7,00,000 (rebate of up to ₹25,000)
Key Features
- Automatic calculation of Basic Salary (50% of CTC)
- Monthly and annual tax breakup
- Slab-wise tax calculation
- 4% Health & Education cess computation
- Section 87A zero tax on taxable income up to ₹7,00,000, and marginal relief just above it
- NPS contribution validation (up to 14% of basic)
Tax Slabs for FY 2024-25
| Income Range | Tax Rate | Notes |
|---|---|---|
| Up to ₹3,00,000 | Nil (0%) | Tax exempt income |
| ₹3,00,001 – ₹7,00,000 | 5% | ₹20,000 max in this slab |
| ₹7,00,001 – ₹10,00,000 | 10% | ₹30,000 max in this slab |
| ₹10,00,001 – ₹12,00,000 | 15% | ₹30,000 max in this slab |
| ₹12,00,001 – ₹15,00,000 | 20% | ₹60,000 max in this slab |
| Above ₹15,00,000 | 30% | No upper limit |
Important Notes:
- Basic Salary is calculated as 50% of CTC.
- Standard Deduction of ₹75,000 is available for salaried individuals.
- Monthly Employer NPS contribution under Section 80CCD(2) is limited to 14% of monthly basic salary under the new regime.
- Tax rebate of up to ₹25,000 is available for taxable income up to ₹7,00,000 (after standard deduction). Marginal relief applies just above ₹7,00,000.
- Surcharge: 10% (income >₹50L), 15% (>₹1Cr), 25% (>₹2Cr) — capped at 25% under new regime. Marginal relief is applied at each threshold.
- Health & Education cess of 4% will be added to the calculated tax.
- The due date for filing the FY 2024-25 (AY 2025-26) return was 31 July 2025; CBDT Circular No. 06/2025 extended it to 15 September 2025.
References
Income Tax
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