Filing your income tax return for Assessment Year 2026-27 requires knowing exactly how much tax you owe under both available regimes. This free Income Tax Calculator for FY 2025-26 (AY 2026-27) lets you enter your salary, house property, capital gains, business, and other income along with applicable deductions, and instantly compares your tax liability under the New Tax Regime and the Old Tax Regime. The calculator uses the latest slab rates notified under the Finance Act 2025, including the revised Section 87A rebate that makes income up to Rs. 12 lakh tax-free under the New Regime.
Since the New Regime became the default from FY 2023-24 onwards, most taxpayers need to actively compare both options every year to choose whichever results in lower tax. Use the tool below, then read the slab-rate tables and FAQs further down the page for a full explanation of how the numbers are calculated.
Basic Details
Income Details
Deductions
Tax Summary
⚡ Updates automatically as you typeGross Income
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Total Deductions
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Taxable Income
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Rebate u/s 87A
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Total Tax Payable (incl. cess)
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Calculation Breakdown
| Particular | Amount |
|---|---|
| Gross Income | ₹0 |
| Total Deductions | ₹0 |
| Taxable Income | ₹0 |
| Tax as per Slab | ₹0 |
| Less: Rebate u/s 87A | ₹0 |
| Tax after Rebate | ₹0 |
| Health & Education Cess (4%) | ₹0 |
| Final Tax Payable | ₹0 |
New Tax Regime Slab Rates – FY 2025-26 (AY 2026-27)
The New Regime is the default regime for FY 2025-26. Under the Finance Act 2025, the slabs were widened and the rebate limit raised, so income up to Rs. 12 lakh is effectively tax-free after the standard deduction and 87A rebate.
| 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 of Rs. 75,000 is available on salary income, and the Section 87A rebate (up to Rs. 60,000) brings tax to nil for taxable income up to Rs. 12 lakh.
Old Tax Regime Slab Rates – FY 2025-26 (AY 2026-27)
The Old Regime continues to allow deductions such as 80C, 80D, and home loan interest, but has narrower slabs than the New Regime.
| Income Slab | Below 60 Years | 60-79 Years | 80+ Years |
|---|---|---|---|
| Up to Rs. 2,50,000 | Nil | Nil | Nil |
| Rs. 2,50,001 – Rs. 3,00,000 | 5% | Nil | Nil |
| Rs. 3,00,001 – Rs. 5,00,000 | 5% | 5% | Nil |
| Rs. 5,00,001 – Rs. 10,00,000 | 20% | 20% | 20% |
| Above Rs. 10,00,000 | 30% | 30% | 30% |
Standard deduction under the Old Regime is Rs. 50,000, and the Section 87A rebate (up to Rs. 12,500) makes taxable income up to Rs. 5 lakh tax-free.
Old vs New Tax Regime — Which One Should You Choose?
The right choice depends on how many deductions and exemptions you can claim:
- Choose New Regime if: you have few deductions, no home loan, minimal 80C investments, or a simpler salary structure — wider slabs and a higher rebate ceiling usually mean lower tax.
- Choose Old Regime if: you claim HRA, a home loan interest deduction, significant 80C/80D investments, or other exemptions that reduce taxable income substantially.
As a rule of thumb, if your total eligible deductions under the Old Regime exceed roughly Rs. 4-4.5 lakh (varies by income level), the Old Regime may work out cheaper. Use the calculator above to compare both regimes side by side for your exact numbers.
How to Use This Income Tax Calculator
- Select your tax regime — New or Old.
- Choose your age group, since slab rates under the Old Regime vary by age.
- Enter your income from salary, house property, capital gains, business, and other sources.
- If you selected the Old Regime, enter eligible deductions such as 80C, 80D, NPS, and home loan interest.
- The result updates automatically as you type — no need to click any button.
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