Income Tax Calculator
Calculate your tax liability under both Old and New tax regimes for any financial year from FY 2015-16 to FY 2024-25. Get instant results with a detailed tax breakdown.
Key Features
- Old vs New Regime Comparison - See which regime saves you more tax instantly
- Section 80C, 80CCD(1B), 80D Deductions - EPF, PPF, ELSS, NPS, health insurance
- HRA Exemption Calculator - Metro and non-metro city calculations
- Home Loan Interest (Section 24b) - Up to ₹2,00,000 deduction
- Personalized Tax-Saving Suggestions - AI-powered recommendations
- 10-Year Historical Comparison - Track tax changes across financial years
Tax Slabs for FY 2026-27
New Regime Tax Slabs (Default)
| Income Range | Tax Rate |
|---|---|
| Up to ₹4,00,000 | Nil |
| ₹4,00,001 - ₹8,00,000 | 5% |
| ₹8,00,001 - ₹12,00,000 | 10% |
| ₹12,00,001 - ₹16,00,000 | 15% |
| ₹16,00,001 - ₹20,00,000 | 20% |
| ₹20,00,001 - ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
Old Regime Tax Slabs
| Income Range | Tax Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 - ₹5,00,000 | 5% |
| ₹5,00,001 - ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Frequently Asked Questions
Which tax regime is better - Old or New?
It depends on your investments and deductions. If you claim more than ₹3-4 lakh in deductions (80C, 80D, HRA, home loan), the Old Regime may save you more tax. Otherwise, the New Regime with lower slab rates is usually better. Use our free calculator to find out instantly.
What is the standard deduction for FY 2026-27?
For FY 2026-27, the standard deduction is ₹75,000 under the New Tax Regime and ₹50,000 under the Old Tax Regime. Same rates as FY 2025-26 — no changes in Union Budget 2026.
How to save tax under Section 80C?
You can save up to ₹1,50,000 under Section 80C through investments like EPF, PPF, ELSS mutual funds, life insurance premiums, NSC, tax-saving FDs, and tuition fees for children.