How Income Tax Calculator Works
This calculator computes tax under both old and new regimes based on the latest FY 2025-26 slab rates. The new regime offers lower tax rates with fewer deductions (only standard deduction of Rs 75,000). The old regime has higher rates but allows deductions under 80C, 80D, HRA, home loan interest, and more.
The new regime provides a rebate under Section 87A for taxable income up to Rs 12 lakh, making it effectively tax-free. The old regime rebate applies up to Rs 5 lakh taxable income. Both regimes include 4% health and education cess on the tax amount.
Note: This calculator provides an estimate. Actual tax may vary based on surcharge (for income above Rs 50 lakh), specific exemptions, and other factors. Consult a tax professional for accurate filing.