Income Tax Calculator
Compare Old vs New Tax Regime (FY 2024-25) and calculate liability.
Input Values
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How It Works
Guide and Formula
How Income Tax is Calculated (FY 2025-26)
This calculator helps you compare the New Tax Regime (default) vs the Old Tax Regime to find maximum savings.
🚀 Key Update for FY 2025-26:
Under the New Tax Regime, taxable income up to ₹12,00,000 is effectively Tax-Free due to increased rebate limits.
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1. New Tax Regime (FY 2025-26)
This is the default regime with lower tax rates but fewer deductions.
Tax Slabs:
Key Features:
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2. Old Tax Regime
Allows you to claim exemptions like HRA, LTA, and deductions (80C, 80D) to lower taxable income.
Tax Slabs:
Key Features:
?FAQs
Why is income up to 12 Lakhs tax-free?
In the New Regime (FY 2025-26), the government provides a Section 87A rebate of up to ₹60,000. If your taxable income is ₹12 Lakhs, the calculated tax is ₹60,000, which is fully cancelled by the rebate.
Which regime should I choose?
For most people earning up to ₹20 Lakhs, the New Regime is significantly better due to the ₹12L tax-free limit. Choose Old Regime ONLY if you have very high deductions.