Income Tax Calculator

Under the New Tax Regime for FY 2025-26, the slab rates for individuals are: up to ₹4 lakh — Nil; ₹4–8 lakh — 5%; ₹8–12 lakh — 10%; ₹12–16 lakh — 15%; ₹16–20 lakh — 20%; ₹20–24 lakh — 25%; above ₹24 lakh — 30%. A full rebate u/s 87A of ₹60,000 is available if total income does not exceed ₹12 lakh, making income up to ₹12 lakh effectively tax-free under the New Regime.

Under the Old Tax Regime for FY 2025-26, for individuals below 60 years: up to ₹2.5 lakh — Nil; ₹2.5–5 lakh — 5%; ₹5–10 lakh — 20%; above ₹10 lakh — 30%. For Senior Citizens (60–80 years) the basic exemption rises to ₹3 lakh, and for Super Senior Citizens (80+) it is ₹5 lakh. A rebate u/s 87A of ₹12,500 applies if total income does not exceed ₹5 lakh.

The New Regime is generally better if your total deductions (80C, HRA, home loan interest, 80D etc.) are less than approximately ₹3.75 lakh. The Old Regime tends to be more beneficial for salaried individuals with high 80C investments, HRA and home loan interest deductions. Use the calculator to compute your tax under both regimes simultaneously and choose whichever results in a lower liability.

Salaried individuals and HUFs without business income can freely switch between Old and New Regime every year at the time of filing their Income Tax Return. However, individuals with business or profession income can exercise the option to switch back from the New to the Old Regime only once in their lifetime.

For FY 2025-26: STCG u/s 111A (listed equity, equity mutual funds held up to 12 months) is taxed at 20%. LTCG u/s 112A (listed equity, equity mutual funds held over 12 months) exceeding ₹1.25 lakh is taxed at 12.5% without indexation. LTCG on other assets transferred on or after 23 July 2024 is taxed at 12.5% without indexation. STCG on other assets is added to total income and taxed at normal slab rates.

Key Chapter VI-A deductions under the Old Regime include: Section 80C up to ₹1.5 lakh; Section 80CCD(1B) NPS up to ₹50,000; Section 80D health insurance up to ₹25,000 (₹50,000 for senior citizens); Section 80TTA savings interest up to ₹10,000; Section 80TTB for senior citizens up to ₹50,000; Section 80E education loan interest with no ceiling; Section 80G donations. Most Chapter VI-A deductions are not available under the New Regime.

Surcharge rates: 10% where income exceeds ₹50 lakh; 15% above ₹1 crore; 25% above ₹2 crore (Old Regime only); 37% above ₹5 crore (Old Regime only). Under the New Regime the maximum surcharge is capped at 25%. Health and Education Cess of 4% is levied on tax plus surcharge.

A Partnership Firm or LLP is taxed at a flat 30% plus 12% surcharge (if income exceeds ₹1 crore) and 4% cess. A Domestic Company under u/s 115BAA is taxed at 22% plus 10% surcharge and 4% cess (effective rate approximately 25.17%). New manufacturing companies u/s 115BAB may be eligible for 15%.

Under the New Regime, a rebate u/s 87A of up to ₹25,000 is available if total taxable income does not exceed ₹12 lakh. Under the Old Regime, the rebate is ₹12,500 for individuals with income not exceeding ₹5 lakh. The rebate is not available against special rate tax on capital gains (STCG u/s 111A, LTCG u/s 112A).

After entering your income details and clicking Calculate Tax, scroll to the results section and click the Download PDF Report button to instantly generate a computation statement on the B. K. Khemka & Co. letterhead covering income break-up, deductions, capital gains, tax with surcharge and cess, TDS adjustment, and balance tax payable or refund due.