Income Tax Calculator 2025-26
Compare old vs new tax regime and calculate your income tax liability for FY 2025-26. Get detailed breakdown of deductions, exemptions, and choose the best tax regime for maximum savings.
PPF, EPF, ELSS, Life Insurance, etc. (Max: ₹1,50,000)
Health insurance premium (Max: ₹25K self + ₹25K parents + ₹25K senior parents)
Additional NPS contribution (Max: ₹50,000)
Interest on education loan (No upper limit)
Interest on home loan (Max: ₹2,00,000)
Section 80G, 80TTA, LTA, etc.
Recommended Tax Regime
Tax Liability: ₹84.34 K
You save ₹1,456 (1.7%) with old regime
Old Tax Regime
New Tax Regime
Tax Deduction Summary (Old Regime)
Old Tax Regime Breakdown
Deduction Breakdown
Tax Calculation
New Tax Regime Breakdown
Deduction Breakdown
New regime offers lower tax rates but doesn't allow most deductions and exemptions.
Tax Calculation
Income Tax Slabs FY 2025-26
Old Tax Regime
New Tax Regime
When Should You File Your Income Tax Return (ITR)?
1. Before the Due Date
Filing your ITR before the statutory deadline (generally 31st July for salaried individuals) helps you avoid late-filing fees under Section 234F and ensures faster refund processing.
2. When Your Income Exceeds the Basic Exemption Limit
If your total income crosses the basic exemption threshold (₹2.5 Lakh for individuals, ₹3 Lakh for senior citizens, and ₹5 Lakh for super-senior citizens) you are legally obliged to file your return—even if no tax is payable.
3. To Claim Tax Refunds & Carry-Forward Losses
You can only receive a TDS / TCS refund or carry forward capital and business losses if you file your ITR on time. Missing the deadline could wipe out valuable losses that might reduce future tax bills.
4. If You Own Foreign Assets or Earn Foreign Income
Residents holding foreign bank accounts, shares, or other overseas assets must mandatorily file an ITR — even when income is below the exemption limit — to stay compliant with Schedule FA disclosure norms.
Benefits of Old vs New Tax Regime
Old Regime Benefits
- Section 80C deductions up to ₹1.5L
- HRA exemption available
- NPS additional ₹50K deduction
- Education & home loan interest benefits
- Multiple tax-saving investment options
New Regime Benefits
- Lower tax rates across all slabs
- Higher basic exemption (₹3L vs ₹2.5L)
- No need for investment proofs
- Simplified tax filing process
- Best for those with minimal deductions
Tax Planning for Different Income Groups
₹0 - ₹10 Lakh
Conservative Planning
- • Consider new tax regime for lower rates
- • Invest in ELSS for 80C benefits
- • Use PPF for long-term savings
- • Health insurance for 80D benefits
- • HRA exemption if applicable
₹10 - ₹25 Lakh
Balanced Approach
- • Compare both tax regimes carefully
- • Maximize Section 80C deductions
- • Consider NPS for additional 50K deduction
- • Home loan for interest benefits
- • Capital gains tax planning
₹25 Lakh+
Advanced Planning
- • Old regime usually better with deductions
- • Structure salary for tax efficiency
- • Investment diversification for tax planning
- • Estate planning considerations
- • Professional tax advisory recommended
Financial Calculator FAQs
Everything you need to know about income tax calculations
Need More Help?
Financial planning requires careful consideration of various factors. Consider consulting with a financial advisor for personalized advice based on your specific situation.
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