Income Tax Calculator
Calculate income tax for FY 2025-26 or 2024-25. Compare new vs old regime with income heads, deductions, surcharge and cess.
Step 1 of 3
Basic
Financial year
My age is
Income from
Preferred regime (results still compare both)
Results
FY 2025-26 · viewing New regime
Total tax
₹0
Taxable ₹11,25,000 · Deductions ₹0
New regime
Lower tax- Income after std. / HRA / PT
- ₹11,25,000
- HRA exemption
- —
- Professional tax
- —
- Deductions (VI-A + HP)
- ₹0
- Taxable income
- ₹11,25,000
- Tax before rebate
- ₹52,500
- Section 87A rebate
- −₹52,500
- Surcharge
- ₹0
- Cess (4%)
- ₹0
Total tax
₹0
Effective rate: 0.00% of gross receipts
Old regime
- Income after std. / HRA / PT
- ₹11,50,000
- HRA exemption
- ₹0
- Professional tax
- ₹0
- Deductions (VI-A + HP)
- ₹0
- Taxable income
- ₹11,50,000
- Tax before rebate
- ₹1,57,500
- Section 87A rebate
- −₹0
- Surcharge
- ₹0
- Cess (4%)
- ₹6,300
Total tax
₹1,63,800
Effective rate: 13.65% of gross receipts
New regime saves ₹1,63,800 vs the other option.
About this income tax calculator
Step through basic details, income heads and deductions. Results always compare new and old regimes for the selected financial year, including Section 87A, surcharge with marginal relief, and 4% cess. Employer NPS under 80CCD(2) is allowed in both regimes.
Illustrative only. Excludes capital gains, special rates and TDS credits. Verify on incometax.gov.in before filing.
Last updated: 12 July 2026. Supports FY 2025-26 (AY 2026-27) and FY 2024-25 — verify on incometax.gov.in before filing.
Income tax in India
Income tax is a direct tax on individual earnings, charged in slabs under the Income Tax Act, 1961. From FY 2024-25 the new tax regime is the default; the old regime remains available as an opt-in for taxpayers who benefit from deductions.
How to use this calculator
1. Basic details — pick financial year, age band and whether you are salaried or self-employed. 2. Income — enter salary or business income, plus savings/deposit interest, rentals and other sources. 3. Deductions — add HRA inputs, 80C, 80D, NPS (including employer 80CCD(2)), loan interest, 80G and other deductions. Results always show tax under both regimes with surcharge and cess.
New vs old regime
| Feature | New regime | Old regime |
|---|---|---|
| Default status | Default from FY 2024-25 | Opt-in each year (non-business) |
| Standard deduction (salaried) | ₹75,000 | ₹50,000 |
| Section 80C / HRA / 80D | Not available | Available within limits |
| Employer NPS 80CCD(2) | Available | Available |
| Section 87A rebate (FY 2025-26) | Up to ₹60,000 (taxable ≤ ₹12L) | Up to ₹12,500 (taxable ≤ ₹5L) |
| Max surcharge | 25% | 37% |
New regime slabs (FY 2025-26)
Nil up to ₹4 lakh; 5% (₹4–8L); 10% (₹8–12L); 15% (₹12–16L); 20% (₹16–20L); 25% (₹20–24L); 30% above ₹24 lakh. Section 87A rebate up to ₹60,000 makes taxable income up to ₹12 lakh effectively tax-free.
Surcharge and cess
Surcharge applies when taxable income exceeds ₹50 lakh (10%, then 15%, 25%; old regime uses 37% above ₹5 crore while the new regime caps at 25%). This calculator applies marginal relief at those thresholds. A 4% health and education cess is charged on tax plus surcharge.
Related calculators
For employer-style declaration worksheets see the tax planner. Estimate TDS on salary with our TDS calculator or plan tax-saving investments with the PPF calculator.
Frequently asked questions about income tax
Which financial years does this calculator support?
FY 2025-26 (Budget 2025 slabs and ₹12L new-regime 87A) and FY 2024-25 (earlier new-regime slabs and ₹7L 87A). Old-regime age-based slabs are the same in both years.
Which tax regime is default in FY 2025-26?
The new tax regime under Section 115BAC is the default. Salaried taxpayers can usually switch to the old regime when filing if deductions make it beneficial. Taxpayers with business income face tighter switching rules.
What are the new regime tax slabs for FY 2025-26?
Nil up to ₹4 lakh; 5% (₹4–8L); 10% (₹8–12L); 15% (₹12–16L); 20% (₹16–20L); 25% (₹20–24L); 30% above ₹24 lakh. Verify on incometax.gov.in.
Is income up to ₹12 lakh tax-free under the new regime?
For FY 2025-26, resident individuals with taxable income up to ₹12 lakh get a Section 87A rebate of up to ₹60,000, effectively zero tax. Salaried taxpayers with ₹75,000 standard deduction can have up to ₹12.75 lakh gross salary with nil tax.
How do I use the three steps?
Basic details: choose FY, age and salaried vs self-employed. Income: enter salary or business income plus interest, rent and other sources. Deductions: add HRA inputs, 80C/80D/NPS/loans/donations. Results always compare both regimes.
Does this calculator include surcharge?
Yes. Surcharge applies above ₹50 lakh taxable income (10% / 15% / 25%, and 37% only under the old regime above ₹5 crore). Marginal relief is applied at the surcharge thresholds. Capital gains and special rates are still excluded.
What is health and education cess?
A 4% cess on income tax plus surcharge, added to your final liability.
Are senior citizen slabs included?
Yes for the old regime (higher basic exemption at 60+ and 80+). The new regime has no age-based slab difference, but age is still collected for 80D limits.
Can I claim 80C in the new regime?
No. Most Chapter VI-A deductions are not available under the new regime. Employer contribution to NPS under Section 80CCD(2) remains allowed and is modelled in this calculator.
How is HRA calculated?
Under the old regime, HRA exemption is the minimum of: HRA received, rent paid minus 10% of basic+DA, and 50% of basic+DA (metro) or 40% (non-metro). Enter annual figures in the income step.
Is professional tax deductible?
Yes under the old regime for salaried employees (Section 16(iii)), up to ₹2,500 a year. Use the max preset or enter the amount actually paid. It is not applied under the new regime in this calculator.
What is the difference between exemption and deduction?
Exemptions (for example part of HRA) keep a portion of income out of the tax net. Deductions (80C, 80D, etc.) reduce taxable income after computing gross total income.
Does this calculate TDS?
No. It estimates full-year tax liability. Use our TDS calculator for illustrative monthly TDS under Section 192.
Is this official tax advice?
No. Rates reflect Union Budget provisions for the selected FY. Consult a chartered accountant before filing your ITR.
Disclaimer: Illustrative estimate only. Does not include capital gains, special rates or TDS credits. Not professional tax advice.
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