Direct Tax
Income Tax Calculator
Compute your tax for FY 2025-26 or FY 2026-27 under the New or Old regime. Includes standard deduction, rebate u/s 87A, surcharge and 4% Health & Education cess.
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Frequently asked questions
Which tax regime should I choose — old or new?
The new regime usually wins if your total deductions (80C, 80D, HRA, home-loan interest, etc.) are below roughly ₹4-4.5 lakh, thanks to the ₹12 lakh rebate. Above that, the old regime often comes out ahead. Compare both directly in this calculator — it's shown side by side.
Is income up to ₹12 lakh really tax-free under the new regime?
Yes, for FY 2025-26 the Section 87A rebate makes total income up to ₹12,00,000 fully tax-free under the new regime. For salaried taxpayers, adding the ₹75,000 standard deduction pushes this to roughly ₹12.75 lakh.
What is the standard deduction for FY 2025-26?
₹75,000 under the new regime and ₹50,000 under the old regime, for salaried individuals and pensioners.
What happens if I don't pay enough advance tax?
Interest applies under Section 234B (1% per month on the shortfall if you paid less than 90% of your tax by 31 March) and Section 234C (1% per month for missing a quarterly instalment). This calculator computes both automatically based on today's date.
Can I switch between the old and new regime every year?
Salaried individuals can switch regimes every year when filing their return. Those with business or professional income can switch only once after opting out of the new regime.