Income Tax Calculator India FY 2025-26
Free Income Tax Calculator for Indians. Calculate your tax liability with accuracy. Estimate tax under new & old regime, including HRA exemption, deductions, and tax-saving suggestions.
Income Tax Analysis
Total Tax Payable
₹0
Gross Income
₹500,000
Total Deductions
₹75,000
Taxable Income
₹425,000
Base Tax
₹0
Surcharge
₹0
Health & Education Cess
₹0
Effective Tax Rate
0.00%
Tax Slab Breakdown
| Tax Slab | Income in Slab | Tax Rate | Tax Amount | Cess |
|---|---|---|---|---|
| 0 - 400,000 | ₹400,000 | 0% | ₹0 | ₹0 |
| 400,000 - 800,000 | ₹25,000 | 5% | ₹1,250 | ₹50 |
| 800,000 - 1,200,000 | ₹0 | 10% | ₹0 | ₹0 |
| 1,200,000 - 1,600,000 | ₹0 | 15% | ₹0 | ₹0 |
| 1,600,000 - 2,000,000 | ₹0 | 20% | ₹0 | ₹0 |
| 2,000,000 - 2,400,000 | ₹0 | 25% | ₹0 | ₹0 |
| 2,400,000 - ∞ | ₹0 | 30% | ₹0 | ₹0 |
About this calculator
The Income Tax Calculator helps you estimate your tax liability for the current financial year. It supports both old and new tax regimes, with all applicable deductions and tax slabs.
The calculator considers the latest tax slabs and rates, including the 4% Health & Education Cess. For the old regime, it includes all major deductions under various sections of the Income Tax Act.
Frequently Asked Questions
What is an Income Tax Calculator?
An Income Tax Calculator is a tool that helps you estimate your tax liability for the current financial year. It supports both old and new tax regimes, with all applicable deductions and tax slabs. The calculator helps you understand how much tax you need to pay and how different deductions can reduce your tax burden.
What is the difference between old and new tax regimes?
The old tax regime offers various deductions and exemptions under different sections of the Income Tax Act, while the new regime (introduced in 2020) offers lower tax rates but with fewer deductions. The new regime is optional, and taxpayers can choose between the two based on their income and deductions.
What are the major deductions available under the old tax regime?
Major deductions under the old regime include: 1) Section 80C (up to ₹1.5 lakh) for investments like PPF, ELSS, etc. 2) Section 80D for health insurance premiums 3) HRA exemption 4) Standard deduction of ₹50,000 5) Section 80G for donations 6) Interest on home loan 7) Education loan interest under Section 80E
What is the 4% Health & Education Cess?
The Health & Education Cess is an additional tax of 4% levied on the total tax amount. It was introduced to fund healthcare and education initiatives. This cess is applicable to both old and new tax regimes.
How is the tax calculated?
Tax is calculated based on income slabs and rates applicable to each slab. The calculator first applies all eligible deductions to arrive at taxable income, then calculates tax for each slab, and finally adds the 4% cess. The process differs slightly between old and new tax regimes.
Which tax regime should I choose?
The choice between old and new tax regimes depends on your income level and available deductions. If you have significant deductions (like home loan interest, HRA, insurance premiums, etc.), the old regime might be beneficial. If you have fewer deductions, the new regime with lower tax rates might be better. Use our calculator to compare both options.
What is the standard deduction?
Standard deduction is a flat deduction available to salaried individuals. Under the old regime, it's ₹50,000, while under the new regime, it's ₹75,000. This deduction reduces your taxable income without requiring any specific investments or expenses.
How do I calculate HRA exemption?
HRA exemption is calculated as the minimum of: 1) Actual HRA received 2) 50% of basic salary (40% for non-metro cities) 3) Rent paid minus 10% of basic salary. The calculator helps you determine the exact HRA exemption based on these factors.
What is surcharge in income tax?
Surcharge is an additional tax levied on high-income taxpayers. It ranges from 10% to 37% depending on your income level. The calculator automatically computes the applicable surcharge based on your income and tax regime.
How can I reduce my tax liability?
You can reduce your tax liability through various means: 1) Choose the appropriate tax regime 2) Claim all eligible deductions under sections 80C, 80D, etc. 3) Invest in tax-saving instruments 4) Claim HRA exemption 5) Use home loan benefits 6) Invest in health insurance 7) Contribute to NPS
⚠️ Disclaimer: This calculator provides estimates based on current tax laws and rates. Tax calculations may vary based on specific circumstances, exemptions, and deductions. Please consult a tax professional for accurate tax planning.
How to Use This Calculator
Step-by-Step Instructions
- Enter your annual income
- Select tax regime (new or old)
- Add your age category
- Include deductions and exemptions
- Click Calculate to see tax breakdown
Example Calculation
Example: For an annual income of ₹12,00,000 under the new tax regime, your total tax liability would be ₹1,20,000.