PrimeUtil

Income Tax Calculator (India)

Rough-plan your tax for Assessment Year 2026-27 (FY 2025-26). Compare the default new tax regime (Section 115BAC) with the old regime: enter salary, other income, standard deduction for salaried or pensioners, HRA exemption (Section 10(13A)) with rent and Basic+DA in the old regime, and common Chapter VI-A deductions. See tax before and after rebate u/s 87A, marginal relief near rebate thresholds, surcharge above ₹50 lakh, and 4% health and education cess.

Computation

Gross income₹12,00,000
Less: Standard deduction(₹75,000)
Taxable income₹11,25,000
Tax before rebate / relief₹52,500
Less: Rebate u/s 87A (and marginal relief, if any)(₹52,500)
Tax after rebate₹0
Add: Health & education cess @4%₹0
Total tax (rounded)₹0

Effective rate on gross: 0%

FY 2025-26 (AY 2026-27) notes

  • New regime: slabs from nil on ₹4 lakh up to 30% above ₹24 lakh; standard deduction ₹75,000; rebate u/s 87A up to ₹60,000 so taxable income up to ₹12 lakh is often nil tax (marginal relief if you slightly exceed ₹12 lakh).
  • Old regime: higher rates but 80C, 80D, HRA u/s 10(13A) (metro vs non-metro), home loan interest, etc. Rebate u/s 87A up to ₹12,500 for taxable income up to ₹5 lakh.
  • Surcharge applies above ₹50 lakh taxable income. Income taxed at special rates (STCG, lottery, etc.) is excluded.

This tool is for education and rough planning only. Consult a CA or the Income-tax Department for filing, deductions not listed, set-offs, and your exact residential status.

Features

  • New regime slabs for FY 2025-26 (nil up to ₹4 lakh, seven brackets up to 30%)
  • Old regime age-based slabs with standard ₹2.5L / ₹3L / ₹5L exemptions
  • Old regime HRA u/s 10(13A) — least of three (Rule 2A), with 50% / 40% of Basic+DA for metro / other cities
  • Rebate u/s 87A and marginal relief near ₹12 lakh (new) and ₹5 lakh (old)
  • Surcharge above ₹50 lakh taxable income and 4% cess
  • Private — all figures stay in your browser

Frequently Asked Questions

Which regime is the default in India now?
From FY 2023-24, the concessional rates under Section 115BAC (new regime) are the default for individuals and HUFs. You can opt out and choose the old regime when filing, subject to rules (salaried individuals can generally choose each year; business income has restrictions).
Does this assume I am a resident?
Rebate u/s 87A and the age-based slabs modelled here follow rules commonly applied to resident individuals. Non-residents have different basic exemptions and typically cannot claim the same 87A rebate. Confirm your residential status on your ITR form.
Why is my tax zero on ₹12 lakh taxable income in the new regime?
For FY 2025-26, taxable income up to ₹12 lakh often attracts no tax because of a rebate under Section 87A (up to ₹60,000). For salaried persons, a standard deduction of ₹75,000 means roughly ₹12.75 lakh gross salary can still map to ₹12 lakh taxable income and zero tax, ignoring other income.
Does the new regime allow 80C and HRA?
Generally no — most deductions under Chapter VI-A, HRA exemption u/s 10(13A), and several perquisites-based exemptions are not available in the new regime. A limited set (e.g. standard deduction, employer NPS under 80CCD(2), certain other specified deductions) may still apply. This calculator models standard deduction; in the old regime it also models HRA (10(13A)) and the VI-A lines you enter.
How is HRA calculated in the old regime?
The exempt portion is the least of: actual HRA received; rent paid minus 10% of salary (Basic + DA); and 50% of Basic+DA if you live in Delhi, Mumbai, Kolkata, or Chennai, otherwise 40%. You must actually pay rent and meet other conditions; the tool does not check rent receipts or employer proof.
Is surcharge included?
Yes. For taxable income above ₹50 lakh, surcharge is applied on tax after rebate at 10%–37% slabs; then 4% health and education cess is applied on tax plus surcharge. Very high incomes may have further nuances; consult a CA.
Can I use this for filing my ITR?
No. This is an illustrative tool only. Actual tax depends on special-rate income, brought-forward losses, rebates, exemptions, Form 16, perquisites, and notifications. Use it for direction; rely on Form 16, AIS, and a qualified professional for filing.

Related Tools

GST Calculator

Add or remove GST from any amount instantly with full tax breakdown.

Gratuity Calculator

Calculate your gratuity payout based on salary and years of service.

PF / EPF Calculator

Calculate your Employee Provident Fund corpus at retirement.

PPF Calculator

Calculate your Public Provident Fund maturity value with tax-free returns.