Free Tax Tools – Income Tax Calculator – Prepare Free Computation
Updated on August 17, 2026
Income Tax Calculator
Income Tax Act, 2025 • FY 2025-26 / AY 2026-27 • Old vs New Regime
1. Personal Details
Affects Old Regime exemption only
87A rebate only for Residents
Slabs same for both years under Act 2025
Shown on computation sheet
2. Income Details (₹)
Gross (std. deduction auto-applied)
Net annual value (can be negative)
Net profit
Taxed @ 20%
12.5% above ₹1.25L
STCG → slab | LTCG → 12.5%
Savings, FD, bonds (taxable)
Dividend, family pension, lottery etc.
Exempt – may affect slab rate
PPF interest, insurance etc.
3. Deductions (mainly for Old Regime)
Max ₹1,50,000
Max ₹2,00,000 (Old Regime)
4. Tax Credits & Interest on Tax
From Form 16 / 26AS / AIS
Total advance tax instalments
Paid before filing return
Enter total interest if applicable (from IT portal / your calculation)
Old vs New Regime Comparison
New Regime RECOMMENDED
₹0
Taxable Income₹0
Tax on Slab₹0
Special Rate (CG)₹0
Rebate 87A₹0
Surcharge₹0
Health & Education Cess @4%₹0
Total Tax₹0
Old Regime RECOMMENDED
₹0
Taxable Income₹0
Tax on Slab₹0
Special Rate (CG)₹0
Rebate 87A₹0
Surcharge₹0
Health & Education Cess @4%₹0
Total Tax₹0
Disclaimer: Based on Income Tax Act, 2025 rates (FY 2025-26 / AY 2026-27). New Regime is default. Capital gains rates post 23 Jul 2024. For educational use only – consult a CA before filing.
Income Tax Computation Statement
As per Income Tax Act, 2025
Frequently Asked Questions
Salary: Gross salary/pension (standard deduction is auto-applied).
House Property: Net annual value after 30% + interest (can be negative).
Business: Net profit.
Capital Gains: Split STCG equity (@20%), LTCG equity (12.5% after ₹1.25L) and other CG.
Other Sources: Interest, dividends, etc.
Agricultural: Exempt, but may push other income into higher slab if > ₹5,000.
House Property: Net annual value after 30% + interest (can be negative).
Business: Net profit.
Capital Gains: Split STCG equity (@20%), LTCG equity (12.5% after ₹1.25L) and other CG.
Other Sources: Interest, dividends, etc.
Agricultural: Exempt, but may push other income into higher slab if > ₹5,000.
New Regime is the default under the Income Tax Act, 2025. It has lower rates and higher rebate (zero tax up to ₹12 lakh) but almost no deductions. Old Regime allows 80C, 80D, home-loan interest etc. Use this calculator with your numbers – it will show which one saves more tax.
Yes. New Regime: ₹75,000. Old Regime: ₹50,000. Applied automatically when salary is entered.
New Regime: up to ₹60,000 rebate if taxable income ≤ ₹12 lakh (Resident only).
Old Regime: up to ₹12,500 if taxable income ≤ ₹5 lakh.
Not available to Non-Residents.
Old Regime: up to ₹12,500 if taxable income ≤ ₹5 lakh.
Not available to Non-Residents.
STCG equity: 20%. LTCG equity: 12.5% above ₹1.25 lakh. Other LTCG: 12.5% (no indexation). STCG other assets: added to income and taxed at slab rates. Same under both regimes.
No. New Regime allows only standard deduction. Fill deduction fields only for accurate Old Regime comparison.
234A: Interest for delay in filing return (1% per month on tax due).
234B: Interest for default in payment of advance tax (1% per month if advance tax paid is less than 90% of assessed tax).
234C: Interest for deferment of advance tax instalments (1% per month for shortfall in each instalment).
Enter the total interest figure if applicable (from the Income Tax portal or your own calculation).
234B: Interest for default in payment of advance tax (1% per month if advance tax paid is less than 90% of assessed tax).
234C: Interest for deferment of advance tax instalments (1% per month for shortfall in each instalment).
Enter the total interest figure if applicable (from the Income Tax portal or your own calculation).
Use the field Interest Income (Bank/FD/Bonds). It is taxed under “Income from Other Sources” at normal slab rates. PPF / Sukanya / tax-free bond interest should go under Exempt Income.
This is an educational estimate only. Actual liability can differ due to set-offs, TDS, marginal relief etc. Always verify with a Chartered Accountant or the official Income Tax utility before filing.
