Home > Income Tax > Help Center > Tax Benefit Calculator TY 2024 vs 2025Last Updated: Feb 17th 2025
Tax Benefit Calculator to assess Budget 2025's impact on income tax savings between 2024 and 2025. Calculates old & new tax, rebate, surcharge, cess also.
New Updated per latest Budget 2025 rules
| Financial Year (FY/TY) | New Tax Regime (NTR) | Old Tax Regime (OTR) |
|---|---|---|
| 2024-25 | {{itax2024new.toLocaleString('en-IN', {useGrouping:true, maximumFractionDigits:0})}} | {{itax2024old.toLocaleString('en-IN', {useGrouping:true, maximumFractionDigits:0})}} |
| 2025-26 | {{itax2025new.toLocaleString('en-IN', {useGrouping:true, maximumFractionDigits:0})}} | {{itax2025old.toLocaleString('en-IN', {useGrouping:true, maximumFractionDigits:0})}} |
| Difference | {{(itax2024new-itax2025new).toLocaleString('en-IN', {useGrouping:true, maximumFractionDigits:0})}} | {{(itax2024old-itax2025old).toLocaleString('en-IN', {useGrouping:true, maximumFractionDigits:0})}} |
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No, The tax benefits are available only in the New tax regime. Budget 2025 has provided the tax benefits to the taxpayers who are opting for the New Tax regime.
The Tax benefit as announced by Budget 2025 is applicable from 01st April 2025. This means the taxpayers can avail the benefit from financial year 2025-26 (Assessment year 2026-27)
There is a basic exemption limit increase from Rs 3,00,000 to Rs 4,00,000 for individuals/HUF under New tax Regime. Also, the tax slabs in the New Tax regime have undergone major changes. The new tax slab rates in New Tax Regime are as follows
| S.No | Income | Rate of Tax |
|---|---|---|
| 1 | Up to Rs 4,00,000 | Nil |
| 2 | From Rs 4,00,001 to Rs 8,00,000 | 5% |
| 3 | From Rs 8,00,001 to Rs 12,00,000 | 10% |
| 4 | From Rs 12,00,001 to Rs 16,00,000 | 15% |
| 5 | From Rs 16,00,001 to Rs 20,00,000 | 20% |
| 6 | From Rs 20,00,001 to Rs 24,00,000 | 25% |
| 7 | More than Rs 24,00,000 | 30% |
However, there are no changes to slab rates in old tax regime
For FY 2024-25, you are required to pay a tax of Rs 52,000 whereas for FY 2025-26, you are not required to pay any taxes. You have a saving of Rs 52000 as per Budget 2025
Who should file Income Tax Return (ITR)?
Yes, the rebate has been increased to Rs 60,000 in FY 2025-26 from Rs 25,000 in FY 2024-25. The rebate is applicable for the taxpayers whose taxable income is up to Rs 12 lakhs (for Salaries - 12.75 lakh)
No. There are no changes to the old tax Regime. The taxes are like previous year
Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.