Gross Total Income
₹ 12,00,000
Standard Deduction
₹ 75,000
Net Taxable Income
₹ 11,25,000
Base Tax Liability
₹ 65,000
Health & Education Cess (4%)
₹ 2,600
Total Net Tax Payable
₹ 67,600
About the Income Tax Calculator (India)
Our free Income Tax Calculator helps taxpayers in India estimate their annual tax liability under both the New Tax Regime and Old Tax Regime for Financial Year (FY 2025-26) / Assessment Year (AY 2026-27). It incorporates standard deductions, tax slab rates, and applicable rebates.
Tax Slabs & Rules for FY 2025-26
Under the New Tax Regime, tax slabs are structured to provide relief across income brackets, backed by a standard deduction of ₹75,000 for salaried individuals. Resident individuals with taxable income up to ₹7,00,000 can also claim tax rebates under Section 87A.
How to Use the Calculator
Simply enter your financial details or use the income range slider:
- Gross Annual Income: Your total earnings before deductions.
- Preferred Tax Regime: Switch between the New Tax Regime and Old Tax Regime.
- Deductions (Old Regime): Enter exemptions like Section 80C, 80D, and HRA if you select the Old Tax Regime.
Click the Calculate Tax button to instantly view your gross income, standard deduction, net taxable income, base tax, health & education cess, and final net tax payable.
Frequently Asked Questions (FAQs)
What is the standard deduction under the New Tax Regime?
The standard deduction for salaried individuals and pensioners under the New Tax Regime is ₹75,000 per financial year.
What is the tax rebate limit under Section 87A?
Under the New Tax Regime, resident individuals having total taxable income up to ₹7,00,000 are eligible for a tax rebate equivalent to their entire tax liability, resulting in zero tax.
Which tax regime is better: New or Old?
The New Tax Regime generally benefits individuals with fewer traditional deductions (like 80C or home loan interest), whereas the Old Regime may still save more tax if you claim substantial deductions exceeding the threshold crossover point.
