📝 Enter Your Details
Taxpayer Category
Annual Gross Income ₹10,00,000
₹
Deductions (for Old Regime)
Section 80C Investments ₹1,50,000
₹
Section 80D Health Insurance ₹25,000
₹
HRA Exemption ₹0
₹
Other Deductions (80E, 80G etc.) ₹0
₹
🧾
Enter your income details and click Calculate My Tax to see your complete breakdown for both Old and New Regime.
Step-by-Step Guide
How to Use the Income Tax Calculator
Step 01
Select Age Category
Choose Below 60, Senior Citizen (60–80), Super Senior (80+), or NRI. Each has a different basic exemption limit.
Step 02
Enter Annual Income
Enter total gross income from all sources — salary, business income, rent, interest, and any other taxable income.
Step 03
Fill In Deductions
Enter Section 80C, 80D, HRA and other deductions. These are applied in the Old Regime calculation automatically.
Step 04
Click Calculate
Hit Calculate. Both Old & New Regime tax figures are computed instantly with full slab-wise breakdown and cess.
Step 05
Compare & Decide
The calculator shows which regime saves more money and by exactly how much based on your specific situation.
Tax Slabs FY 2025-26
Income Tax Slabs — Old & New Regime
New Tax Regime (Default)
Recommended| Income Range | Tax Rate |
|---|---|
| Up to ₹3,00,000 | NIL |
| ₹4,00,001 – ₹8,00,000 | 5% |
| ₹8,00,001 – ₹12,00,000 | 10% |
| ₹12,00,001 – ₹16,00,000 | 15% |
| ₹16,00,001 – ₹20,00,000 | 20% |
| Above ₹24,00,000 | 30% |
| ✓ 87A Rebate: Zero tax if income ≤ ₹12L (₹12.75L salaried) | Std. Deduction: ₹75,000 | |
Old Tax Regime
With Deductions| Income Range | Tax Rate |
|---|---|
| Up to ₹2,50,000 | NIL |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
| ✓ 87A Rebate: Up to ₹12,500 if income ≤ ₹5L | Std. Deduction: ₹50,000 | |
Senior Citizen (60–80 yrs) — Old Regime
| Income Range | Rate |
|---|---|
| Up to ₹3,00,000 | NIL |
| ₹3L – ₹5L | 5% |
| ₹5L – ₹10L | 20% |
| Above ₹10L | 30% |
Super Senior Citizen (80+) — Old Regime
| Income Range | Rate |
|---|---|
| Up to ₹5,00,000 | NIL |
| ₹5L – ₹10L | 20% |
| Above ₹10L | 30% |
Old Regime Deductions
All Tax Deductions Available
| Section | What It Covers | Maximum Limit |
|---|---|---|
| 80C | PPF, ELSS, EPF, LIC, NSC, Home Loan Principal, Sukanya Samriddhi, ULIP | ₹1,50,000 |
| 80CCD(1B) | Additional NPS contribution (extra, over and above 80C limit) | ₹50,000 |
| 80D | Health insurance premiums — self, spouse, children & parents | ₹25,000 – ₹1,00,000 |
| HRA | House Rent Allowance exemption for rent paid to landlord | Actual (calculated) |
| Section 24(b) | Home loan interest for self-occupied property | ₹2,00,000 |
| 80E | Interest paid on education loan for higher studies | No upper limit |
| 80G | Donations to approved charitable organisations & funds | 50% or 100% of donation |
| 80TTA | Interest earned from savings bank accounts | ₹10,000 |
| 80TTB | Interest income for senior citizens (savings + FD + RD) | ₹50,000 |
| Standard Deduction | Flat deduction for all salaried employees & pensioners | ₹50,000 (Old) / ₹75,000 (New) |
Complete Guide
Understanding Income Tax in India
⚠️ This calculator is for informational purposes only. For complex tax situations involving capital gains, business income or foreign income, consult a qualified Chartered Accountant.
What is Income Tax and Who Must Pay It?
Income Tax is a direct tax levied by the Government of India on income earned by individuals, HUFs, companies and other entities during a financial year. It is governed by the Income Tax Act, 1961 and administered by the Central Board of Direct Taxes (CBDT). Every individual whose income exceeds the basic exemption limit is required to file an ITR and pay tax.
New Tax Regime vs Old Tax Regime — Complete Comparison
From FY 2023-24, the New Tax Regime is the default. You must actively opt for the Old Regime while filing your ITR if you want to claim deductions.
- New Regime: Lower slab rates, higher ₹75,000 standard deduction, but 80C, 80D, HRA and most Chapter VI-A deductions are NOT available.
- Old Regime: Higher base rates but allows all deductions. Beneficial if total deductions exceed ₹3.75 lakh.
- Who benefits from New Regime: Taxpayers with less than ₹1.5L in 80C, no HRA, or minimal deductions.
- Who benefits from Old Regime: Taxpayers maximising 80C (₹1.5L) + 80D (₹25K) + HRA + NPS + home loan interest.
Section 87A Rebate — Zero Tax Explained
Section 87A is a tax rebate that reduces your tax liability to zero if your income is within the threshold:
- New Regime: Full rebate up to ₹60,000 if net taxable income ≤ ₹12,00,000. Effective zero tax up to ₹12.75 lakh (including ₹75,000 std. deduction).
- Old Regime: Rebate up to ₹12,500 if net taxable income ≤ ₹5,00,000. Effective zero tax up to ₹5.5 lakh.
Health and Education Cess — 4%
A 4% Health and Education Cess is levied on total income tax payable (post-surcharge) in both Old and New Regimes. Example: Income tax of ₹50,000 + 4% cess of ₹2,000 = ₹52,000 total tax liability.
Surcharge on High Income
Surcharge applies on income above certain thresholds: 10% if income exceeds ₹50 lakh; 15% above ₹1 crore; 25% above ₹2 crore. Under the New Regime, surcharge is capped at 25% even for income above ₹5 crore (reduced from 37% in Old Regime).
ITR Filing Due Dates for FY 2025-26
- July 31, 2026 — Salaried individuals & non-audit cases (AY 2026-27)
- October 31, 2026 — Businesses requiring statutory audit
- November 30, 2025 — Transfer pricing cases
- December 31, 2026 — Belated / revised returns (with late fee)
FAQs
Frequently Asked Questions
How to calculate income tax for FY 2025-26?
Subtract standard deduction (₹75,000 New / ₹50,000 Old) from gross income → subtract other deductions (Old Regime only) → apply slab rates → add 4% cess → subtract 87A rebate if income is within threshold. Use our free calculator above for instant, accurate results.
Which regime is better — Old or New for FY 2025-26?
New Regime is better if total deductions are below ₹4.25 lakh. Old Regime is better if 80C + 80D + HRA + others exceed ₹4.25 lakh. The calculator above shows the exact saving for your specific income — just enter your numbers and compare.
Is income up to ₹12 lakh truly tax-free in New Regime?
Yes. Under Section 87A, if net taxable income ≤ ₹12,00,000 in New Regime, the entire tax is waived as a rebate. Including the ₹75,000 standard deduction, salaried employees with CTC up to ₹12.75 lakh pay zero income tax under the New Regime.
What is the standard deduction for salaried employees in FY 2025-26?
Standard deduction is ₹75,000 under the New Tax Regime and ₹50,000 under the Old Tax Regime for all salaried individuals and pensioners in FY 2025-26. This was increased to ₹75,000 in Budget 2024 for the New Regime.
Can I switch between Old and New Regime every year?
Salaried individuals with no business income can switch freely every year when filing ITR. However, once you have business income and opt out of the New Regime to the Old, you cannot switch back to the New Regime again.
What deductions are NOT allowed in the New Tax Regime?
The New Regime does not permit deductions under 80C (PPF, ELSS, LIC), 80D (health insurance), HRA exemption, Section 24(b) home loan interest, 80E education loan, 80G donations, LTA, and most Chapter VI-A deductions. Only standard deduction (₹75,000) and NPS employer contribution under 80CCD(2) are allowed.
What is the due date to file ITR for FY 2025-26?
ITR filing due date for FY 2025-26 (AY 2026-27): July 31, 2026 for individuals and salaried taxpayers. October 31, 2026 for audit cases. A belated return with a late fee of up to ₹5,000 can be filed until December 31, 2026.
What is Health and Education Cess on income tax?
4% Health and Education Cess is levied on the total income tax amount (after surcharge if any). It applies to both Old and New Regimes. Example: ₹1,00,000 tax × 4% = ₹4,000 cess. Total payable = ₹1,04,000.
What documents do I need to file ITR for FY 2025-26?
You need: Form 16 from employer, Form 26AS / AIS from the IT portal, PAN card, Aadhaar, bank account details, investment proofs (80C, 80D), home loan certificate (if any), capital gains statements from broker or mutual fund. Most data is pre-filled in ITR now from Form 26AS.
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