Income Tax Calculator
This Income Tax Calculator helps you quickly find out how much tax you need to pay under both the Old and New Tax Regimes. It’s easy to use for salaried individuals, business owners, and freelancers. The calculator guides you step-by-step to enter your income and deductions, making tax planning simple and stress-free.
Income Tax Calculator (AY 2025-26)
Deductions from Salary:
1. Basic Deductions – 80C (max ₹1.5L):
2. Health Insurance Premium – 80D:
3. NPS Investment – 80CCD(1B) (max ₹50,000):
4. Interests on Loans – 80E:
5. Donations – 80G:
Summary
Taxable Income: ₹
Total Deductions: ₹
Tax Payable: ₹
You should switch to the New Tax Regime as you would end up paying ₹1,16,307 lesser as tax in this regime.
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About This Income Tax Calculator
- This calculator helps you determine how much income tax you must pay for the financial year.
- It compares the tax you will pay under the Old and New Tax Regimes so you can choose the best option.
- It takes your total income, deductions, and exemptions into account.
- It calculates your tax liability quickly and accurately without any complicated steps.
- The calculator also shows you tax savings and gives you an idea of your final take-home income after tax.
What’s Included in This Calculator?
- The income input section, where you enter your salary, business income, or any other income.
- Section to enter deductions like 80C (investments), 80D (health insurance), and other common tax benefits.
- Automatic calculation of tax based on the latest government rules for both the Old and New regimes.
- Separate display of tax payable under each regime.
- Final suggestion on which tax regime is better for you.
How to Use This Calculator?
- Enter your basic details.
- Enter your total income from salary, business, or other sources.
- Fill in details about deductions like investments under 80C, health insurance (80D), etc.
- Select your age category (below 60, senior citizen, super senior citizen).
- Click on the Calculate button.
- See the tax amounts under both the Old and New tax regimes side-by-side.
- Choose the regime that gives you the lowest tax.
Who Can Use This Calculator?
- Salaried employees want to check their tax liability.
- Business owners and freelancers are calculating tax on their income.
- Senior citizens to check if they get extra benefits.
- Anyone who wants to compare the Old Tax Regime vs the New Tax Regime.
- People are planning their investments and deductions to save tax.
Tax Slabs: Old Tax Regime vs New Tax Regime (FY 2024-25 / AY 2025-26)
| Income Range (₹) | New Tax Regime Rate |
|---|---|
| Rs. 0 to Rs. 3,00,000 | NIL |
| Rs. 3,00,001 to Rs. 7,00,000 | 5% |
| Rs. 7,00,001 to Rs. 10,00,000 | 10% |
| Rs. 10,00,001 to Rs. 12,00,000 | 15% |
| Rs. 12,00,001 to Rs. 15,00,000 | 20% |
| More than Rs. 15,00,000 | 30% |
| Income Range (₹) | Old Tax Regime Rate |
|---|---|
| Up to Rs 2,50,000* | NIL |
| Rs 2,50,001 - Rs 5,00,000 | 5% |
| Rs 5,00,001 - Rs 10,00,000 | 20% |
| Above Rs 10,00,000 | 30% |
Note:
- The old regime allows deductions like 80C, 80D, HRA, etc.
- The new regime offers lower tax rates but with fewer deductions allowed.
Conclusion
This Income Tax Calculator makes it easy for you to understand your tax liability quickly and clearly. By comparing the Old and New Tax Regimes, it helps you can make the best choice to save tax. Use it every year to plan your finances smartly and avoid surprises at tax time.
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FAQs
Q1: What is the difference between Old and New Tax Regime?
A: Old regime lets you claim many deductions and exemptions but has higher tax rates. New regime offers lower tax rates but fewer deductions.
Q2: Can I switch between Old and New tax regimes every year?
A: Yes, salaried individuals can choose the regime every financial year, but businesses have different rules.
Q3: What deductions can I claim in the Old Tax Regime?
A: Common deductions include 80C (investments), 80D (health insurance), HRA (house rent allowance), and more.
Q4: Who should use this calculator?
A: Anyone earning taxable income who wants to know how much tax they need to pay.
Q5: Is this calculator updated with the latest tax rules?
A: Yes, this calculator uses the current financial year’s tax slabs and rules.
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