Free online income tax calculator for FY 2025-26 (AY 2026-27) and FY 2026-27. Compare Old vs New Tax Regime side-by-side — slab-wise breakdown with all major deductions (80C, 80D, HRA, home loan interest, NPS), surcharge and 4% cess. Built by CA Swapnil Soni, accurate per Budget 2025 rates.
*Indicative only. Consult CA Swapnil Soni for accurate ITR filing.
This calculator computes your income tax liability under both the Old and New Tax Regimes for Financial Year 2025-26 (Assessment Year 2026-27) and FY 2026-27. Just enter your annual salary, other income sources, and any deductions you qualify for under the Old Regime. The calculator instantly shows you the tax under each regime along with a slab-wise breakdown, so you can pick the regime that saves you the most.
| 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% |
Standard deduction of ₹75,000 is available for salaried/pensioner taxpayers. Section 87A rebate of up to ₹60,000 makes income up to ₹12 lakh effectively tax-free.
| Income Range | 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% |
The Old Regime allows you to claim 80C (up to ₹1.5L), 80D health insurance, HRA, home loan interest (up to ₹2L for self-occupied), NPS 80CCD(1B), education loan interest, and other deductions. Use the calculator above to see if these deductions can beat the New Regime's lower rates.
The general rule of thumb:
Suppose you're a 28-year-old salaried employee earning ₹10,00,000 a year with no home loan and only ₹50,000 invested in PPF (80C).
Salary minus ₹75,000 standard deduction = ₹9,25,000 taxable.
Salary − ₹50,000 std − ₹50,000 (80C) = ₹9,00,000 taxable.
Verdict: New Regime saves ₹96,200. Confirmed by the calculator above.
Suppose you're 35, earning ₹18,00,000, paying ₹3,60,000 rent (HRA-exempt ₹2,40,000), with a ₹2,00,000 home loan interest (let-out), ₹1,50,000 80C, ₹25,000 80D, and ₹50,000 NPS contribution.
Salary − ₹75,000 std = ₹17,25,000 taxable.
Salary ₹18,00,000 − ₹50,000 std − ₹2,40,000 HRA − ₹1,50,000 (80C) − ₹25,000 (80D) − ₹2,00,000 home loan − ₹50,000 NPS = ₹10,85,000 taxable.
Verdict: Old Regime saves ₹48,880 in this scenario thanks to HRA + home loan + 80C deductions.
| Regime | Standard Deduction | Available For |
|---|---|---|
| New Regime | ₹75,000 | Salaried & pensioners |
| Old Regime | ₹50,000 | Salaried & pensioners |
The Section 87A tax rebate makes income up to a threshold effectively tax-free:
| Taxable Income | Surcharge — Old Regime | Surcharge — New Regime |
|---|---|---|
| Up to ₹50 lakh | Nil | Nil |
| ₹50L – ₹1 Cr | 10% | 10% |
| ₹1 Cr – ₹2 Cr | 15% | 15% |
| ₹2 Cr – ₹5 Cr | 25% | 25% |
| Above ₹5 Cr | 37% | 25% (capped) |
Health & Education Cess of 4% is levied on (tax + surcharge) in both regimes.
There is no universal answer. The New Tax Regime offers lower slab rates and a higher standard deduction (₹75,000) but disallows most deductions. The Old Regime keeps higher rates but allows 80C, 80D, HRA, home loan interest, and others. Use this calculator to compare both for your specific income.
Under the New Tax Regime for FY 2025-26, salaried employees and pensioners get a standard deduction of ₹75,000 (increased from ₹50,000 in Budget 2024).
Under the New Tax Regime, taxpayers with taxable income up to ₹12 lakh can claim a rebate of up to ₹60,000 under Section 87A, effectively making income up to ₹12 lakh tax-free.
No. House Rent Allowance (HRA) exemption is not available under the New Tax Regime. It is only available under the Old Tax Regime.
Surcharge applies on tax (not income) when taxable income exceeds ₹50 lakh. Rates: 10% (₹50L–1Cr), 15% (₹1Cr–2Cr), 25% (₹2Cr–5Cr). Above ₹5Cr: 25% under New Regime, 37% under Old Regime.
No. This calculator provides indicative estimates only. For accurate tax planning and ITR filing, consult CA Swapnil Soni or a qualified Chartered Accountant.
Taxable income = Gross salary − Standard deduction (₹75K New / ₹50K Old) − HRA exemption (Old only) − other allowances exempt under Section 10 − all eligible Chapter VI-A deductions (Old only). The result is then taxed slab-wise.
Yes, salaried taxpayers can switch each year while filing ITR. Business and professional income earners can switch only once back to the Old Regime after opting for the New Regime — choose carefully.
₹1,50,000 combined across all eligible items (PPF, ELSS, EPF, LIC, NSC, tax-saver FD, home loan principal, tuition fees, etc.). Available only under the Old Regime.
HRA exemption is the LEAST of: (a) actual HRA received, (b) rent paid minus 10% of basic salary, (c) 50% of basic salary in metro cities (40% non-metro). Available only under the Old Regime.
Yes. This calculator uses the FY 2025-26 (AY 2026-27) slab rates announced in Budget 2025, including the new ₹75,000 standard deduction and ₹60,000 Section 87A rebate under the New Regime.
The slab calculations, rebate, surcharge, and cess logic are exactly per the Income Tax Act provisions for FY 2025-26. Results match what your CA would compute given the same inputs. That said, real-world ITR filing may involve TDS adjustments, advance tax, foreign income, capital gains specifics, etc. — consult a CA for filing.
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