Income Tax Calculator
Compare old vs new regime for FY 2025-26 (AY 2026-27)
Your Income & Deductions
Affects old regime exemption limit
Rs
Rs
PPF, ELSS, LIC, PF, etc. (Max Rs 1,50,000)
Rs
Self + parents premium (Max Rs 1,00,000)
Rs
Leave blank if you don't claim HRA
Rs
Interest on housing loan (Max Rs 2,00,000)
Rs
Your NPS contribution (Max Rs 50,000)
Rs
Employer's NPS contribution (Max 10% of basic salary)
Your Tax Comparison
Old Regime
Rs 0
0% effective
New Regime
Rs 0
0% effective
Enter your income to see comparison
Old Regime Calculation
| Gross Income | Rs 0 |
New Regime Calculation
| Gross Income | Rs 0 |
This calculator is for estimation purposes only. Please consult a tax professional for accurate advice.
Income Tax Slabs for FY 2025-26
India offers two tax regimes - the Old Regime with deductions and the New Regime with lower rates but fewer deductions. Here is a comparison:
New Tax Regime (Default)
| Income Slab | Tax Rate |
|---|---|
| Up to Rs 4,00,000 | Nil |
| Rs 4,00,001 - Rs 8,00,000 | 5% |
| Rs 8,00,001 - Rs 12,00,000 | 10% |
| Rs 12,00,001 - Rs 16,00,000 | 15% |
| Rs 16,00,001 - Rs 20,00,000 | 20% |
| Rs 20,00,001 - Rs 24,00,000 | 25% |
| Above Rs 24,00,000 | 30% |
Standard deduction: Rs 75,000. Rebate u/s 87A: Full tax rebate if taxable income is Rs 12,00,000 or below.
Old Tax Regime
| Income Slab | Tax Rate |
|---|---|
| Up to Rs 2,50,000 | Nil |
| Rs 2,50,001 - Rs 5,00,000 | 5% |
| Rs 5,00,001 - Rs 10,00,000 | 20% |
| Above Rs 10,00,000 | 30% |
Standard deduction: Rs 50,000. Rebate u/s 87A: Up to Rs 12,500 if taxable income is Rs 5,00,000 or below.
Key Deductions (Old Regime Only)
- Section 80C (Max Rs 1.5L): PPF, ELSS, LIC premium, EPF, home loan principal, tuition fees, NSC, tax-saver FDs
- Section 80D (Max Rs 1L): Health insurance premium - Rs 25K for self/family (Rs 50K if senior citizen) + Rs 25K for parents (Rs 50K if senior)
- Section 80CCD(1B) (Max Rs 50K): Additional NPS contribution beyond 80C limit
- Section 80CCD(2): Employer's NPS contribution (up to 10% of basic salary)
- Section 24 (Max Rs 2L): Home loan interest for self-occupied property
- HRA Exemption: Based on actual HRA received, rent paid, and city of residence
Surcharge and Cess
In addition to the base tax, high-income earners pay surcharge, and everyone pays Health & Education Cess:
- Surcharge: 10% (Rs 50L-1Cr), 15% (Rs 1-2Cr), 25% (Rs 2-5Cr), 37%/25% (above Rs 5Cr for old/new regime)
- Health & Education Cess: 4% on (Tax + Surcharge)
- Marginal Relief: Just above a surcharge threshold, tax plus surcharge cannot exceed the amount at the threshold by more than the income above it (First Schedule, Finance Act 2025). In the new regime, income-tax just above Rs 12L cannot exceed the income above Rs 12L (proviso to Section 87A). Cess is added after both.
How This Calculator Works
This calculator compares your tax liability under both regimes for FY 2025-26. Here is what it accounts for:
- Old Regime: Standard deduction (Rs 50,000) + all eligible deductions (80C, 80D, HRA, home loan, NPS)
- New Regime: Only standard deduction (Rs 75,000) and employer NPS 80CCD(2). No other deductions allowed
- Rebate u/s 87A: Full rebate in new regime up to Rs 12L taxable income, with marginal relief just above it; Rs 12,500 in old regime up to Rs 5L, with no marginal relief
- Surcharge: Applied for taxable income above Rs 50L with marginal relief at threshold crossings
- Cess: 4% Health & Education Cess on total tax + surcharge
Tax Calculation Steps:
1. Gross Income - Deductions = Taxable Income2. Apply slab rates to get base tax
3. Apply rebate u/s 87A (new regime: marginal relief just above Rs 12L)
4. Add surcharge (if applicable) with marginal relief
5. Add 4% Health & Education Cess on tax plus surcharge
Frequently Asked Questions
For FY 2025-26, the new regime is better for most taxpayers due to lower rates and Rs 12L rebate limit. Old regime may be better only if your total deductions (80C, 80D, HRA, home loan interest) exceed Rs 4-5 lakhs.
Standard deduction is a flat deduction from salary income. It is Rs 75,000 in the new regime (FY 2025-26) and Rs 50,000 in the old regime. No bills or proof required.
In the new regime, if your taxable income is up to Rs 12,00,000, you get a full rebate and pay zero tax. Just above Rs 12L, marginal relief caps the income-tax at the income above Rs 12L. In the old regime, the rebate is up to Rs 12,500 if taxable income is up to Rs 5,00,000, with no marginal relief: at Rs 5,10,000 taxable income the tax is Rs 15,080 including cess.
Marginal relief ensures that if your income slightly exceeds a threshold (like Rs 12L for rebate or Rs 50L for surcharge), the extra tax does not exceed the extra income. For the new-regime rebate, income-tax just above Rs 12L is capped at the income above Rs 12L. For surcharge, tax plus surcharge is capped at the amount at the threshold plus the income above it. The 4% cess is added after. The old regime has no marginal relief on the Rs 5L rebate.
Salaried employees can switch regimes every year while filing ITR. Business owners can switch only once in their lifetime. The new regime is the default from FY 2023-24.
Yes, employer's NPS contribution under Section 80CCD(2) is allowed in both regimes. However, your own NPS contribution under 80CCD(1B) is only allowed in the old regime.
In the old tax regime, senior citizens (60-80 years) have an exemption limit of Rs 3L, and super senior citizens (80+) have Rs 5L. In the new regime, the slabs are the same for all ages.