Income Tax Calculator (Old Regime Vs. New)
Income Details
Old Regime Deductions (if applicable)
Tax Calculation Results
Enter your income details and click "Calculate Tax" to see results.
Tax Regime Information
New Tax Regime (Default from April 1, 2025)
The new tax regime offers lower tax rates with limited deductions but significantly higher exemption limits and rebates.
*With standard deduction of ₹75,000 and rebate under Section 87A
Revised Tax Slabs for FY 2025-26 (AY 2026-27)
| Income Range (₹) | Tax Rate |
|---|---|
| Up to 4,00,000 | Nil |
| 4,00,001 - 8,00,000 | 5% |
| 8,00,001 - 12,00,000 | 10% |
| 12,00,001 - 16,00,000 | 15% |
| 16,00,001 - 20,00,000 | 20% |
| 20,00,001 - 24,00,000 | 25% |
| Above 24,00,000 | 30% |
Key Features:
- Standard Deduction: ₹75,000 for salaried individuals
- Rebate u/s 87A: ₹60,000 (increased from previous years)
- Zero Tax up to: ₹12 lakh taxable income (₹12.75 lakh with standard deduction)
- Default Regime: Automatic unless opted out (easy for salaried individuals)
- Surcharge: 10% above ₹50L, 15% above ₹1Cr, 25% above ₹2Cr, 37% above ₹5Cr
Old Tax Regime
The old tax regime allows various deductions and exemptions but has higher tax rates and lower exemption limits.
Tax Slabs for FY 2025-26 (AY 2026-27) - Unchanged
| Income Range (General) | 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% |
Key Deductions:
- Standard Deduction: ₹75,000 (increased)
- Section 80C: Up to ₹1,50,000 (EPF, PPF, Life Insurance, etc.)
- Section 80CCD(1B): Additional ₹50,000 for NPS
- Section 80CCD(2): Employer NPS contribution (up to 10% of salary)
- Section 80D: Medical Insurance (₹25,000-₹1,00,000)
- HRA Exemption: Based on salary structure
- LTA: Leave Travel Allowance
- Interest on Home Loan: Under Section 24
Frequently Asked Questions
Which regime should I choose for FY 2025-26?
The decision depends on your income level and available deductions:
- Income ≤ ₹12.75 lakhs: New regime is ALWAYS better (zero tax)
- Income ₹12.75-₹15 lakhs: New regime usually better unless you have significant deductions
- Income > ₹15 lakhs: Calculate both - old regime may be better if you have deductions > ₹3-4 lakhs
What are the major changes for FY 2025-26?
- Higher exemption: ₹4 lakh basic exemption in new regime (vs ₹2.5L in old)
- Enhanced rebate: ₹60,000 u/s 87A in new regime
- More slabs: 7 tax brackets in new regime (vs 4 in old)
- Standard deduction: ₹75,000 in both regimes
- Default regime: New regime is now automatic
How is income up to ₹12.75 lakhs tax-free?
With the new regime:
- Standard deduction: ₹75,000
- Taxable income after deduction: ₹12,00,000
- Tax on ₹12L as per slabs: ₹60,000
- Rebate u/s 87A: ₹60,000
- Net tax: Zero
Can I switch between regimes?
Salaried individuals: Can choose each year. Default is new regime, must opt-out for old.
Business/Professional income: Once you opt for new regime, must continue for life unless business ceases.
What's the last date for filing ITR for AY 2026-27?
For most individuals: July 31, 2026 (subject to extension by CBDT if any).
Are there any new deductions in new regime?
No major new deductions. Only standard deduction of ₹75,000 is allowed. Most other exemptions/deductions are not available.
