New Tax Regime Calculator (FY 2024-25)
Yearly NPS Contribution: ₹0
Tax Calculation Summary
Gross Income:₹1,000,000
Basic Salary (50% of CTC):
₹0 / year
₹0 / month
Standard Deduction:₹75,000
NPS Deduction (80CCD-2) - 10% of basic salary:
₹0 / year
₹0 / month
Taxable Income:₹0
Total Tax:
₹25,000₹0
Monthly Tax:₹0.00
Slab-wise Tax Breakdown
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 10% of monthly basic salary
- Tax rebate of ₹25,000 is available for income up to ₹7L (after standard deduction)
- Education cess of 4% will be added to the calculated tax
- Due date for filing return is 15th September 2025 (non-audit cases)
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 takes into account your gross income, standard deduction, and employer NPS contributions to calculate your tax liability.
Tax Slabs for FY 2024-25
| Income Range | Tax Rate | Notes |
|---|---|---|
| Up to ₹3,00,000 | Nil | Tax exempt income |
| ₹3,00,001 to ₹6,00,000 | 5% | ₹15,000 max in this slab |
| ₹6,00,001 to ₹9,00,000 | 10% | ₹30,000 max in this slab |
| ₹9,00,001 to ₹12,00,000 | 15% | ₹45,000 max in this slab |
| ₹12,00,001 to ₹15,00,000 | 20% | ₹60,000 max in this slab |
| Above ₹15,00,000 | 30% | No upper limit |
How it Works
The calculator uses the following parameters to compute your tax liability:
- Gross Annual Income: Your total income for the financial year
- Standard Deduction: Fixed deduction of ₹75,000 for salaried individuals
- NPS Deduction: Employer contribution to NPS under Section 80CCD(2)
- Tax Rebate: Available for taxable income up to ₹7,00,000
Key Features
- Automatic calculation of Basic Salary (50% of CTC)
- Monthly and annual tax breakup
- Slab-wise tax calculation
- Education cess computation
- Tax rebate consideration
- NPS contribution validation
Important Considerations
- This calculator is for salaried individuals under the new tax regime
- All calculations include education cess of 4%
- Tax rebate is automatically applied for eligible income
- NPS contribution is capped at 10% of basic salary
- Standard deduction is automatically considered