Income Tax Calculator FY 2025-26
Compare old vs new tax regime and calculate your income tax. Includes all deductions - 80C, 80D, HRA, home loan interest & more.
Income Tax Calculator for FY 2025-26
Our income tax calculator helps you calculate your tax liability for the Financial Year 2025-26 (Assessment Year 2026-27). Compare your taxes under both old and new tax regimesto choose the most beneficial option. The calculator covers all major deductions including 80C, 80D, HRA exemption, and home loan interest. Explore all our tax calculators including GST, TDS, and Capital Gains calculators.
New Tax Regime vs Old Tax Regime
From FY 2023-24, the new tax regime is the default regime, but taxpayers can opt for the old regime if beneficial. Here's a quick comparison:
New Regime Tax Slabs (FY 2025-26)
| Income Slab | Tax Rate |
|---|---|
| Up to ₹3,00,000 | Nil |
| ₹3,00,001 - ₹7,00,000 | 5% |
| ₹7,00,001 - ₹10,00,000 | 10% |
| ₹10,00,001 - ₹12,00,000 | 15% |
| ₹12,00,001 - ₹15,00,000 | 20% |
| Above ₹15,00,000 | 30% |
Standard deduction of ₹75,000 available under new regime from FY 2024-25
Old Regime Tax Slabs (FY 2025-26)
| Income Slab | 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% |
Major Tax Deductions (Old Regime)
Section 80C - ₹1,50,000
- PPF contributions
- ELSS mutual fund investments
- Life insurance premium
- EPF/VPF contributions
- NSC, Tax saver FD, Sukanya Samriddhi
- Home loan principal repayment
- Children's tuition fees (max 2 children)
Section 80D - Health Insurance Premium
- Self & Family: Up to ₹25,000 (₹50,000 if senior citizen)
- Parents: Additional ₹25,000 (₹50,000 if senior citizen)
- Preventive health check-up: ₹5,000 (within above limits)
Other Important Deductions
- 80CCD(1B) - NPS additional: ₹50,000
- 80E - Education loan interest: No limit
- 80G - Donations: 50-100% of donation
- 80TTA - Savings interest: ₹10,000
- Section 24 - Home loan interest: ₹2,00,000
When to Choose Which Regime?
Choose New Regime If:
- Total deductions are less than ₹3-4 lakh
- You don't have home loan or HRA benefits
- You prefer simplicity over tax planning
- Your income is below ₹7 lakh (no tax after rebate)
Choose Old Regime If:
- You have significant deductions (home loan, HRA, 80C, 80D)
- Combined deductions exceed ₹4-5 lakh
- You're paying rent in a metro city (high HRA benefit)
- You have multiple income sources with different deductions
Tax Calculation Example
Scenario: Gross salary ₹15,00,000, with 80C: ₹1.5L, 80D: ₹25K, HRA: ₹1.2L
| Particulars | Old Regime | New Regime |
|---|---|---|
| Gross Salary | ₹15,00,000 | ₹15,00,000 |
| Standard Deduction | ₹50,000 | ₹75,000 |
| 80C Deduction | ₹1,50,000 | - |
| 80D Deduction | ₹25,000 | - |
| HRA Exemption | ₹1,20,000 | - |
| Taxable Income | ₹11,55,000 | ₹14,25,000 |
| Tax Payable | ₹1,48,200 | ₹1,66,400 |
In this case, old regime saves ₹18,200!
Important Deadlines
- Advance Tax - 15th Jun, Sep, Dec, Mar (quarterly)
- ITR Filing - 31st July (salaried), 31st Oct (audit cases)
- Belated Return - 31st December
- Revised Return - 31st December
Frequently Asked Questions
Is rebate under 87A available in new regime?
Yes, rebate of ₹25,000 is available for taxable income up to ₹7 lakh under new regime. This means income up to ₹7 lakh effectively has zero tax in new regime.
Can I switch between regimes every year?
Salaried individuals can switch between regimes every year while filing ITR. Business owners who opt for new regime can switch back to old regime only once in their lifetime.
Are surcharge and cess included in the calculator?
Yes, our calculator includes 4% Health & Education Cess on tax amount. Surcharge is applicable for incomes above ₹50 lakh (10%), ₹1 crore (15%), ₹2 crore (25%), and ₹5 crore (37%).