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Income Tax Calculator India FY 2025-26

Calculate your income tax liability with Old Tax Regime vs New Tax Regime comparison. Get detailed tax breakdown and save maximum tax.

Income Details

₹0 ₹50 Lakhs

Deductions (Old Regime)

Maximum: ₹1,50,000
Self: ₹25,000 | Parents: ₹25,000 (₹50,000 if senior)
Fixed: ₹50,000 for salaried employees
Total Tax Payable
₹1,14,400
Gross Income ₹12,00,000
Total Deductions ₹2,25,000
Taxable Income ₹9,75,000
Tax Before Cess ₹1,10,000
Health & Education Cess (4%) ₹4,400
Net Take Home ₹10,85,600

Income Distribution

Tax Regime Comparison

Income Tax Slabs FY 2025-26

Old Tax Regime

Income Slab Tax Rate
Up to ₹2,50,000 Nil
₹2,50,001 to ₹5,00,000 5%
₹5,00,001 to ₹10,00,000 20%
Above ₹10,00,000 30%

Available Deductions: 80C, 80D, HRA, LTA, Standard Deduction, etc.

New Tax Regime

Income Slab Tax Rate
Up to ₹3,00,000 Nil
₹3,00,001 to ₹6,00,000 5%
₹6,00,001 to ₹9,00,000 10%
₹9,00,001 to ₹12,00,000 15%
₹12,00,001 to ₹15,00,000 20%
Above ₹15,00,000 30%

Note: Only Standard Deduction of ₹50,000 allowed. No other deductions available.

Old Tax Regime vs New Tax Regime

Old Regime:

  • Lower tax slabs but allows various deductions
  • Better for those who can claim deductions (80C, 80D, HRA, etc.)
  • Requires investment and documentation

New Regime:

  • Lower tax rates but minimal deductions
  • Better for those with fewer deductions to claim
  • Simpler with less paperwork

Popular Tax Saving Options (80C)

  • PPF: Public Provident Fund (Safe, 7.1% interest)
  • EPF: Employee Provident Fund (Mandatory for salaried)
  • ELSS: Equity Linked Savings Scheme (Market-linked, 3-year lock-in)
  • NSC: National Savings Certificate
  • Tax Saver FD: 5-year Fixed Deposit
  • Life Insurance: Premium paid for life insurance
  • Home Loan Principal: Principal repayment
  • Tuition Fees: Children's education fees

Section 80D - Health Insurance

  • Self, Spouse & Children: Up to ₹25,000
  • If Senior Citizen (60+): Up to ₹50,000
  • Parents (Below 60): Additional ₹25,000
  • Parents (60+): Additional ₹50,000
  • Preventive Health Checkup: ₹5,000 (included in above limits)
  • Maximum Total Deduction: ₹1,00,000 (if all senior citizens)

HRA Exemption Calculation

HRA exemption is the minimum of:

  • Actual HRA received
  • 50% of salary (for metro) or 40% (non-metro)
  • Rent paid minus 10% of salary

Note: Only available if you live in rented accommodation

Additional Deductions

  • 80CCD(1B): NPS - Additional ₹50,000
  • 80E: Education loan interest - Full amount (no limit)
  • 80G: Donations - 50% or 100% based on institution
  • 80TTA/80TTB: Interest on savings - ₹10,000/₹50,000
  • 24(b): Home loan interest - Up to ₹2,00,000

Tax Saving Tips

  • Start tax planning at the beginning of financial year
  • Compare both tax regimes before choosing
  • Maximize 80C deductions (₹1.5 lakh)
  • Don't forget 80D for health insurance
  • Additional ₹50,000 through NPS under 80CCD(1B)
  • Claim HRA if living in rented house
  • Keep all investment proofs and receipts
  • File ITR on time to avoid penalties