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Income Tax Calculator under old and New Regime

(a) Calculate Tax FY 2025-26 (AY 2026-27) as Proposed In Budget dt. 01.02.25

(b) Calculate Tax FY 2024-25 (AY 2025-26)

Calculate Income Tax for FY 2025-26 in Old and New Regime, View Impact on Tax payable in comparison to FY 2024-25 of Budget for FY 2025-26 ( dt. 01-02-2025) after the benefit of standard deduction OF 75000 (under New Regime i.e. without rebate and Exemptions) of revised tax rates / slabs and eligible deductions (under old Regime) with existing rates

Income Tax Rates / Slabs FY 19-20, FY 18-19, FY 2017-18 & FY 2016-17

Change / Select Calculator

Calculate Income Tax for FY 2023-24

Step 1 - Select Age & Enter Details ↓ ↑

1Select Age (from Drop Down)
2Income From Salary / Pension
3Exemptions & Deductions from Salary (u/s 10)
4Income from Other Sources
5Income from Rented out House Property  
(Of not self Occupied)
5 (a)Rent Received or Receivable or Annual Lettable Value
5 (b)Taxes paid to Local Authorities
5 (c)Annual Value of Property
5 (d)Standard Deduction 30% of 5(c)
5 (e) Interest Paid on Home Loan (rented/let out property)
(Max Rs. 2.00 Lac)
5 (f) Income / Loss (-ve) from House Property

Next - Step 2 Enter Eligible Deductions / Click button "Calculate Tax"

Step 2 (Enter Eligible Deductions)↓ ↑

6Interest Paid on Home Loan (self Occupied)
7Deduction u/s 80C, 80CCC (max. Rs. 1.50 Lac)
8Interest from SB u/s 80TTA
9Medical Insurance u/s 80D
Self / Spouse / D.Children
(max. Rs. 25000/-)(Max. limit Rs 50,000/-)
For Parents Below 60
(No Change Max. Rs. 25000/-)

For Parents Above 60
(Max. Rs. 50,000/-)
Less: Section 80DDB
(Max. limit Rs 1 lac) Less: Section 80DDB
(Max Rs. 1 lac)
10Additional contribution to NPS - u/s 80CCD (max 50000)
11Serving of Intt.on Education Loan (u/s 80E)
12 Deductionn under Section 80EE
Interest on loan for acquiring residential house property, sanctioned during FY 2016-17 (Max Rs. 50000)
13Deduction under Section 80EEA
Interest on loan for acquiring residential house property, sanctioned during FY 2019-20 (Max Rs. 150000)
14Deduction under Section 80EEB
Interest Deduction in respect of purchase of electric vehicle, during FY 2019-20 to 2022-23 (Max Rs. 150000)


Step 3 - Your Tax calculations are displayed hereunder "Show Tax Calculations FY 2025-26 & FY 2024-25"

Tax calculations FY 25-26 & Tax Inpact after proposed Budget dated 01.02.25

Tax Calculation FY 2025-26↓ ↑

Old RegimeNew Regime
Gross Taxable Income
Standard Deduction
Total of Deductions
Net Taxable Income
Less: Relief u/s 87A
(For Individuals having taxable income upto Rs. 5.00 lacs)
Income Tax
Surcharge
Health and Education Cess
Total Tax Liability
Impact on Tax payable after Budget FY 2025-26
(-) shows tax saving else addtional burden

Tax calculations FY 24-25

Show Tax Calculation FY 2024-25↓ ↑

Old RegimeNew Regime
Gross Taxable Income
Standard Deduction
Total of Deductions
Net Taxable Income
Less: Relief u/s 87A
(For Individuals having taxable income upto Rs. 5.00 lacs)
Income Tax
Surcharge
Health and Education Cess
Total Tax Liability


Tax Rates FY 2025-26

New Income Tax Slabs Under New Tax Regimes:

  • Rs 0-4 lakh: Nil
  • Rs 4-8 lakhs: 5%
  • Rs 8-12 lakhs: 10%
  • Rs 12-16 lakhs: 15%
  • Rs 16-20 lakhs: 20%
  • Rs 20-24 lakhs: 25%
  • Rs Over 24 lakhs: 30%
  • Health and Education Cess is 4% of (Income Tax + Surcharge)
  • No tax on income up to Rs 12.75 lakh a year in new tax regime (with inclusion of standard deduction)

    Surcharge Rates

  • 10% of Income Tax, in case taxable income is above Rs. 50 lacs.
  • 15% of Income Tax, in case taxable income is above Rs. 1 crore.
  • 25% of Income Tax, in case taxable income is above Rs. 2 crore.

    Tax Rates FY 2024-25

    New Income Tax Slabs Under New Tax Regimes:

  • Rs 0-3 lakh: Nil
  • Rs 3-7 lakhs: 5%
  • Rs 6-10 lakhs: 10%
  • Rs 10-12 lakhs: 15%
  • Rs 12-15 lakhs: 20%
  • Rs Over 15 lakhs: 30%
  • Health and Education Cess is 4% of (Income Tax + Surcharge)
  • Standard deduction hiked from 50000 to 75000
  • No tax on income up to Rs 7.75 lakh a year in new tax regime (with inclusion of standard deduction)

    Surcharge Rates

  • 10% of Income Tax, in case taxable income is above Rs. 50 lacs.
  • 15% of Income Tax, in case taxable income is above Rs. 1 crore.
  • 25% of Income Tax, in case taxable income is above Rs. 2 crore.
  • New tax regime has already became the default tax regime from FY 24-25. However, citizens can opt for the old tax regime.
  • No changes in the old tax regime

    Disclaimer : This website do not claim that tax calculation is correct. The users are requested to please do inform in case he/she has noticed any error in calculation.

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    Modified : 04 Feb 2023

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