🏛️ Income Tax Calculator

FY 2025-26 (AY 2026-27) | Old Regime vs New Regime Comparison

Updated: February 21, 2026 Privacy-first calculations Exportable PDF summary

Taxpayer Information

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Salary Income

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Other Income

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Home Loan Interest

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Section 80C Deductions (Max ₹1,50,000)

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Other Deductions

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Max: ₹25,000 (₹50,000 for senior citizens)
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Max: ₹5,000 (within overall 80D limit)
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Max: ₹25,000 (₹50,000 if parents are senior citizens)
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Max: ₹5,000 (within overall 80D limit)
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HRA Exemption Calculator

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INCOME TAX COMPUTATION STATEMENT

Financial Year: 2025-26

👤 Taxpayer Details

Name:PAN:
Designation:Age:
Status:Regime:

💰 Income Details

ParticularsAmount (₹)
Gross Salary
Savings Interest
FD Interest
Rental Income
Other Income
Gross Total

📝 Deductions

ParticularsAmount (₹)
Standard Deduction
Total Deductions

📊 Tax Calculation

ParticularsAmount (₹)
Taxable Income
Income Tax
Less: Rebate u/s 87A
Surcharge
Cess @ 4%
Total Tax
Tax Already Paid
Balance Tax

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Income Tax Calculator FY 2025-26 | For estimation only. Consult a tax professional.

How Income Tax Calculator Works — Complete Guide

Tax Slabs for FY 2025-26 Under Both Regimes

India offers two tax regimes. The new regime (default from FY 2023-24) has slabs starting at 0% up to ₹4 lakh, 5% for ₹4-8 lakh, 10% for ₹8-12 lakh, 15% for ₹12-16 lakh, 20% for ₹16-20 lakh, 25% for ₹20-24 lakh, and 30% above ₹24 lakh. The old regime retains slabs of 0% up to ₹2.5 lakh, 5% for ₹2.5-5 lakh, 20% for ₹5-10 lakh, and 30% above ₹10 lakh but allows most deductions and exemptions.

Standard Deduction Changes

From FY 2024-25 onwards, the standard deduction under the new regime increased to ₹75,000 for salaried individuals. Under the old regime, it remains at ₹50,000. This flat deduction requires no proof or investment and is automatically applied to your gross salary before computing taxable income.

Section 80C Overview

Section 80C allows deductions up to ₹1.5 lakh per year on investments like EPF, PPF, ELSS mutual funds, life insurance premiums, NSC, 5-year FDs, and tuition fees. This deduction is only available under the old regime. Planning your 80C investments early in the financial year helps avoid last-minute rush decisions.

New Regime vs Old Regime — How to Decide

Choose the old regime if your total deductions (80C, 80D, HRA, home loan interest) exceed approximately ₹3.75 lakh. If your deductions are minimal — for example, you live in your own house and have no major investments — the new regime usually results in lower tax. Use this calculator to compare both side by side before filing.

Surcharge and Health & Education Cess

A surcharge applies on income above ₹50 lakh: 10% for ₹50 lakh–₹1 crore, 15% for ₹1–2 crore, and 25% for ₹2–5 crore. Under the new regime, surcharge is capped at 25% regardless of income. On top of the total tax and surcharge, a 4% Health and Education Cess is levied, making the effective highest rate approximately 39% under the new regime.

Frequently Asked Questions

How is income tax calculated for FY 2025-26?

Income tax is calculated by first determining your gross income, applying eligible deductions under sections like 80C, 80D, and HRA, then applying the relevant tax slab rates for either the old or new regime.

Which is better — old regime or new regime for FY 2025-26?

The new regime offers lower slab rates and a standard deduction of ₹75,000 but no exemptions. The old regime is better if your deductions (80C + 80D + HRA + home loan) exceed ₹3-4 lakh. Use our calculator to compare both side-by-side.

What is the tax-free income limit in India for FY 2025-26?

Under the new regime, income up to ₹12 lakh is effectively tax-free due to the rebate under Section 87A. Under the old regime, the basic exemption is ₹2.5 lakh (₹3 lakh for seniors).

Is surcharge applicable on my income tax?

Yes, a surcharge applies if taxable income exceeds ₹50 lakh. It ranges from 10% (₹50L-1Cr) to 25% (₹2-5Cr) of the tax amount. A marginal relief calculation ensures you don't pay more than the excess income.

Do I need to file ITR if my income is below the taxable limit?

Filing is mandatory if gross income exceeds ₹2.5 lakh even if tax is zero after deductions. It's also recommended for claiming refunds, loan applications, and visa processing.

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