Income Tax Calculator

It depends on your deductions. As a rule of thumb: if your total deductions (80C + 80D + HRA + home-loan interest + NPS) exceed roughly ₹4–4.5 lakh, the old regime usually wins; otherwise the new regime's lower rates and ₹60,000 rebate make it cheaper. This calculator compares both instantly for your exact numbers.

Yes — for FY 2025-26 and FY 2026-27, the §87A rebate cancels tax up to ₹60,000 if your taxable income is ₹12 lakh or less. With the ₹75,000 standard deduction, a salaried person earning up to ₹12.75 lakh pays zero tax. Note: special-rate income like capital gains doesn't get this rebate.

If your taxable income is just above ₹12 lakh, your tax is capped at the amount by which income exceeds ₹12 lakh. Example: at ₹12.10 lakh, slab tax would be ₹61,500 — but marginal relief caps it at ₹10,000 (plus cess).

It's the least of three amounts: (1) actual HRA received, (2) rent paid minus 10% of basic salary, and (3) 50% of basic in a metro (Delhi, Mumbai, Kolkata, Chennai) or 40% elsewhere. HRA exemption is available only in the old regime.

Yes, if genuine — for example you rent in your work city while your owned home (with the loan) is in another city, or is let out. Both claims together in the same city for a self-occupied home invite scrutiny.

The 80C limit is ₹1.5 lakh per year (old regime). It covers PPF, EPF, ELSS, life-insurance premiums, NSC, 5-year tax-saver FDs, Sukanya Samriddhi, children's tuition fees and home-loan principal — all combined.

A flat deduction from salary or pension income with no proof needed: ₹50,000 in the old regime and ₹75,000 in the new regime (FY 2025-26 and 2026-27).

The big ones that survive: the ₹75,000 standard deduction, employer NPS contribution under 80CCD(2), home-loan interest against a let-out property's rent, and the family-pension deduction (₹25,000). Most others — 80C, 80D, HRA, LTA, 80TTA — are old-regime only.

An extra ₹50,000 deduction for your own NPS contribution, over and above the ₹1.5 lakh 80C limit — old regime only. Combined, 80C + 80CCD(1B) can shelter ₹2 lakh.

It's the deduction for your employer's NPS contribution — and it works in both regimes. In the new regime the limit is 14% of basic + DA. If your employer offers NPS via corporate benefits, it's one of the few remaining tax shelters for new-regime taxpayers.

₹25,000 for self, spouse and children (₹50,000 if you're 60+), plus a separate ₹25,000 for parents (₹50,000 if they're senior citizens). Includes up to ₹5,000 of preventive health check-ups. Old regime only.

80TTA gives up to ₹10,000 deduction on savings-account interest for those under 60. 80TTB replaces it for senior citizens with a bigger ₹50,000 limit that also covers FD interest. Old regime only.

Self-occupied home: up to ₹2 lakh deduction under §24(b), old regime only. Let-out property: interest is deductible against rent in both regimes, but a net loss can offset other income (up to ₹2 lakh) only in the old regime. Principal repayment counts toward 80C.

Extra home-loan interest deductions for loans sanctioned in specific windows: 80EE gives ₹50,000 more (loans sanctioned FY 2016-17); 80EEA gives ₹1.5 lakh more for affordable housing (loans sanctioned Apr 2019–Mar 2022). You can't claim both.

Yes — Section 80GG (old regime). Deduction is the least of ₹5,000/month, 25% of total income, or rent minus 10% of income — so at most ₹60,000 a year. You must not own a home in your work city.

Section 80E allows the full interest (no cap) on an education loan for yourself, spouse or children — for up to 8 years from when repayment starts. Old regime only. Principal is not deductible.

Depending on the institution, 50% or 100% of the donation is deductible, some categories capped at 10% of adjusted gross income. Cash donations above ₹2,000 don't qualify — pay digitally. Enter the eligible amount in this calculator.

A small state-government tax on employment (₹200–₹208/month in most states, max ₹2,500/year). It's deducted by your employer and is deductible from salary income in the old regime.

A 4% levy added on top of your income tax plus surcharge. It applies in both regimes and funds health and education programmes.

On taxable income above ₹50 lakh: 10%, above ₹1 crore: 15%, above ₹2 crore: 25%, and above ₹5 crore: 37% (old regime only — the new regime caps surcharge at 25%). Marginal relief prevents a small income jump from causing a huge tax jump.

In the old regime the rebate is up to ₹12,500 when taxable income is ₹5 lakh or less — meaning zero tax up to ₹5 lakh taxable income.

0–2.5L: nil; 2.5–5L: 5%; 5–10L: 20%; above 10L: 30%. Senior citizens (60–80) get a ₹3 lakh exemption limit; super seniors (80+) get ₹5 lakh.

0–4L: nil; 4–8L: 5%; 8–12L: 10%; 12–16L: 15%; 16–20L: 20%; 20–24L: 25%; above 24L: 30%. Same slabs for all ages, and Budget 2026 made no changes for FY 2026-27.

Old regime: higher exemption limit (₹3L / ₹5L for 80+), 80TTB (₹50,000 deposit interest), higher 80D (₹50,000) and 80DDB (₹1 lakh) limits. New regime: same slabs as everyone. Seniors 75+ with only pension + interest income at one bank can be exempt from filing (§194P).

Separately from slab income. Listed equity/equity funds: short-term gains at 20% (§111A); long-term gains above ₹1.25 lakh at 12.5% (§112A). These rates are identical in both regimes, and the §87A rebate does not apply against them.

Pure agricultural income is exempt under §10(1). If it exceeds ₹5,000 and you have other taxable income, it's aggregated only to determine your rate (partial integration) — this calculator treats it as fully exempt for simplicity.

As business/professional income at slab rates, after deducting expenses. Freelancers with gross receipts up to ₹75 lakh can opt for presumptive tax (§44ADA) declaring 50% of receipts as income. Freelancers get no standard deduction but can claim Chapter VI-A deductions in the old regime.

Yes, since FY 2023-24. Your employer deducts TDS per the new regime unless you tell them otherwise. Salaried taxpayers can still switch regimes every year when filing; business-income taxpayers can switch back to old only once.

Pension received by a family member after the pensioner's death — taxed as 'other sources' with a deduction of one-third of the pension, capped at ₹15,000 (old) or ₹25,000 (new regime).

If your total tax liability (after TDS) exceeds ₹10,000 a year, you must pay it in instalments: 15% by 15 Jun, 45% by 15 Sep, 75% by 15 Dec and 100% by 15 Mar. Salaried people are usually covered by TDS; freelancers and investors often are not.

Tax Deducted at Source — your employer estimates your annual tax and deducts it monthly. Declare your regime choice and investment proofs to your employer to avoid excess TDS; anything over-deducted comes back as a refund after filing.

Both give a flat ₹75,000 deduction (₹1.25 lakh for severe disability, old regime): 80U when you yourself have a certified disability, 80DD when you maintain a disabled dependant. Flat amounts — actual expenditure doesn't matter.

Deduction for treatment of specified diseases (cancer, chronic renal failure, Parkinson's, etc.): up to ₹40,000, or ₹1 lakh for senior citizens — old regime, with a prescription from a specialist.

LTA exemption (actual domestic travel fare, 2 journeys per 4-year block) is old-regime only. In the new regime, LTA received is fully taxable.

No — this is a planning tool that runs entirely in your browser. For actual filing you'll need proofs (rent receipts, premium statements, loan certificates) for your employer or in case of scrutiny.

The new Act (effective 1 Apr 2026) renumbered sections — 80C is now §123, 87A's rebate is §156, 80D is §126 — but the benefits and limits are unchanged. Everyone still calls them by the old names, and this calculator does too.

Gross income from all heads (salary, house property, business, capital gains, other sources) minus exemptions (like HRA), the standard deduction and Chapter VI-A deductions. Tax slabs apply to this final figure.

Rent received minus municipal taxes = annual value; a flat 30% standard deduction applies, then home-loan interest for that property. The result is added to your income (a loss can offset up to ₹2 lakh of other income in the old regime only).

Yes — each co-owner/co-borrower can claim §24(b) interest (up to ₹2L each, self-occupied, old regime) and 80C principal on their share of actual repayment. Run this calculator separately per person.

Total tax divided by gross income — the share of your income that actually goes to tax. It's always lower than your top slab rate because slabs apply progressively.

A bonus stacks on top of your existing income, so it's taxed entirely at your highest marginal rate — and can push you into a higher slab or past a surcharge threshold. Use the simulator to preview a bonus before it lands.

Yes, at your slab rate in both regimes, since 2020. TDS of 10% applies if dividends exceed ₹10,000 in a year (₹5,000 before FY 2025-26).

No. Everything is computed in your browser with JavaScript — no server calls, no login, no tracking of your figures. Refresh the page and it's gone.