Tax Calculation Summary

Taxable Income ₹ 0

Income Tax ₹ 0

Rebate u/s 87A ₹ 0

Tax after Rebate ₹ 0

₹ 0

Total Tax Liability ₹ 0

This calculation is for illustrative purposes only. Consult a tax advisor for professional advice.

A Comprehensive Guide to Indian Income Tax

Navigating income tax in India can be complex, but our calculator simplifies the process. Whether you’re a salaried employee, freelancer, or business owner, understanding your tax obligations is crucial. Below, we explain how to use the calculator and provide insights into the Old and New Tax Regimes.

How to Use This Calculator

Follow these steps to estimate your tax liability accurately:

Select Assessment Year: Choose AY 2026-27 (for income earned in FY 2025-26) or AY 2025-26 (for FY 2024-25).
Choose Tax Regime: Opt for the New Tax Regime (default since FY 2023-24) or the Old Regime based on your preference.
Taxpayer Category: For the Old Regime, select your category (Individual, Senior Citizen, or Super Senior Citizen) to adjust exemption limits.
Gross Income: Enter your total income from all sources before deductions.
Deductions: In the Old Regime, input eligible deductions (e.g., 80C, 80D). This field is disabled for the New Regime.
Calculate: Click to view a detailed breakdown of your tax liability.

Old vs. New Tax Regime: Which is Better?

The New Tax Regime offers lower tax rates but eliminates most deductions, while the Old Regime allows deductions but has higher rates. Use our calculator to compare both regimes based on your income and deductions. Tip: If your deductions exceed ₹2,50,000, the Old Regime may be more beneficial.

Understanding Your Results

Taxable Income: Gross income minus standard deduction and other claimed deductions (Old Regime only).
Income Tax: Base tax calculated using the applicable slab rates.
Rebate u/s 87A: Tax relief for lower-income individuals, reducing your tax liability.
Surcharge: Additional tax for high earners, based on income thresholds.
Health & Education Cess: A 4% cess on the total of income tax and surcharge.
Total Tax Liability: The final tax amount payable.

Pro Tip: Save your results by copying them using the share button below the results card. Share with friends or consult your tax advisor!

Frequently Asked Questions (FAQs)

What is the difference between Old and New Tax Regimes?

The Old Regime allows deductions under sections like 80C, 80D, and HRA but has higher tax rates. The New Regime offers lower tax rates but eliminates most deductions, making it simpler but potentially less beneficial for those with significant deductions.

Who is eligible for the rebate under Section 87A?

Resident individuals with taxable income up to ₹12,00,000 (AY 2026-27, New Regime) or ₹5,00,000 (Old Regime) are eligible for a rebate, reducing their tax liability.

How is surcharge calculated?

Surcharge is an additional tax on income tax for individuals with taxable income above ₹50 lakh. Rates vary from 10% to 37% based on income levels.

Official Government Financial Resources

Access reliable information and services through these official government portals.

Department/Agency	Purpose	Website URL
Income Tax Department	ITR filing, Form 26AS/AIS, tax information	incometax.gov.in
Ministry of Finance	Economic policies and financial updates	finmin.nic.in
Union Budget Portal	Budget documents and economic surveys	indiabudget.gov.in
Reserve Bank of India (RBI)	Monetary policy and banking regulations	rbi.org.in
GST Portal	GST registration and return filing	gst.gov.in

Indian Income Tax Calculator