Income Tax Calculator (FY 2025-26)

Calculate tax with new rules for AY 2026-27 & compare with previous years.

Calculate Your Tax Liability

1. Basic Information
2. Income Details (Annual)
3. Deduction Details (for Old Regime)

Understanding Your Tax Calculation

This advanced income tax calculator helps you determine your tax liability by considering detailed income sources and deductions. Your taxable income is calculated by subtracting eligible deductions from your Gross Total Income. The final tax is then computed based on the income tax slabs for your chosen financial year.

Frequently Asked Questions for Tax Year 2025-26

For FY 2025-26, the key proposed change is in the New Tax Regime:

  • The **Standard Deduction** for salaried individuals is proposed to be increased to **₹75,000**.
  • A higher **tax rebate** is expected, resulting in **zero tax liability** for individuals with a taxable income up to **₹12 lakh**.
  • This means a salaried person with a gross income up to **₹12.75 lakh** (₹12 lakh income + ₹75,000 SD) will pay no tax under the New Regime.

While the rebate and standard deduction have been increased, the tax slabs for incomes above ₹12 lakh are expected to follow a similar structure as the previous year. This calculator incorporates the new zero-tax threshold for accurate estimations.

Currently, no major changes have been proposed for the Old Tax Regime. It continues to allow for various deductions like 80C, 80D, HRA, etc., with a standard deduction of ₹50,000. It remains a viable option for those with high deductions.