What makes this calculator different
Side-by-side old vs new regime estimate for FY 2025-26 for salaried income: new-regime slabs (nil up to Rs 4L, 5% steps to 30% above Rs 24L), Rs 75K / Rs 50K standard deduction, the 87A rebate (up to Rs 60K new with marginal relief, Rs 12.5K old), surcharge with marginal relief and 4% cess. Old-regime deductions and HRA are entered as totals; it is an estimate, not a filing tool.
Common Questions
Income Tax Calculator FAQs
Common questions about the Income Tax Calculator and how to read its results.
Q01
Should I pick the old or new tax regime for FY 2025-26?
New regime is the default for AY 2026-27 with revised slabs (nil up to Rs 4L, then 5% / 10% / 15% / 20% / 25% / 30%) and a Rs 75K standard deduction. The old regime still allows 80C/80D/HRA/home-loan interest deductions with a Rs 50K standard deduction. The calculator estimates both side-by-side from the deductions you enter and shows the lower one.
Q02
Is HRA exemption available under the new regime?
No. HRA, LTA, 80C, 80D, professional tax deductions are all unavailable under the new regime. Only the standard deduction (Rs 75K) and 80CCD(2) (employer NPS) survive.
Q03
What are the new tax regime slabs for FY 2025-26?
0% up to Rs 4L; 5% Rs 4–8L; 10% Rs 8–12L; 15% Rs 12–16L; 20% Rs 16–20L; 25% Rs 20–24L; 30% above Rs 24L. Add 4% health and education cess on the tax.
Q04
Is the rebate available under the new regime?
Yes. The Section 87A rebate of up to Rs 60,000 makes taxable income up to Rs 12L tax-free under the new regime for FY 2025-26 (Rs 12.75L salary after the standard deduction). Just above Rs 12L, marginal relief caps the tax at the income above Rs 12L. The old-regime rebate is up to Rs 12,500 for taxable income up to Rs 5L.
Q05
Do I need to file an ITR if my income is below Rs 12L?
Filing is mandatory if your gross income exceeds the basic exemption limit (Rs 4L new regime / Rs 2.5L old) regardless of whether tax is payable after rebate. Filing also helps build credit history with banks for future loan applications.
Q06
How does Section 24(b) home loan interest deduction work?
Under the old regime, up to Rs 2L home loan interest deduction on self-occupied property; for let-out property the interest is set off against rent, with any loss set off against other income capped at Rs 2L a year. Not available on self-occupied property under the new regime. This calculator has no separate 24(b) input — add eligible interest to the old-regime deductions field.
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