Income Tax Calculator
Most Accurate Income Tax Calculator for FY 2024-25, 2025-26 & 2026-27. Includes HRA exemption, all deductions (80C, 80D, etc.), surcharge, Section 87A rebate, and let-out property loss. Free online tax calculator with official formulas.
New Tax Regime (All Taxpayers)
Note: Age does not matter in the new regime. Same slabs apply to all taxpayers (including senior and super senior citizens).
| Income Range | Tax Rate |
|---|---|
| Up to ₹4,00,000 | NIL (0%) |
| ₹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% |
Standard Deduction: ₹75,000 (for salaried individuals under new regime)
Section 87A Rebate: If taxable income ≤ ₹12 lakh and tax ≤ ₹60,000, then tax = 0. No rebate if income > ₹12 lakh or tax > ₹60,000.
Surcharge: Applies for income above ₹50 lakh (10% for ₹50L-₹1Cr, 15% for ₹1Cr-₹2Cr, 25% for ₹2Cr-₹5Cr, 37% above ₹5Cr).
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Frequently Asked Questions
Why is this the most accurate income tax calculator?
Our calculator uses official tax formulas and correctly handles all edge cases including: separate HRA exemption for new vs old regime (HRA not allowed in new regime from AY 2025-26), let-out property loss capped at ₹2L in new regime, surcharge for high income (>₹50L), Section 87A rebate logic, and all deductions.
What are the income tax slabs for FY 2025-26 (AY 2026-27)?
For FY 2025-26, the new tax regime has slabs: 0% up to ₹4 lakhs, 5% for ₹4-8 lakhs, 10% for ₹8-12 lakhs, 15% for ₹12-16 lakhs, 20% for ₹16-20 lakhs, 25% for ₹20-24 lakhs, and 30% above ₹24 lakhs. Standard deduction is ₹75,000. Section 87A rebate of ₹60,000 applies if taxable income ≤ ₹12L and tax ≤ ₹60k.
Is HRA exemption allowed in the new tax regime?
No, HRA exemption u/s 10(13A) is NOT allowed in the New Tax Regime from AY 2025-26 onwards. However, HRA exemption is still fully available in the Old Tax Regime. Our calculator correctly handles this - showing HRA exemption for old regime calculations while excluding it for new regime calculations.
Which tax regime should I choose?
Our calculator shows you exactly which regime saves more tax. Generally, choose the new tax regime if you don't have many deductions and exemptions. Choose the old regime if you have significant deductions like HRA, investments under Section 80C, 80D, home loan interest, etc. The calculator automatically compares both and shows which saves you more money.
Does this calculator handle surcharge for high income?
Yes, our calculator correctly applies surcharge for income above ₹50 lakh: 10% for ₹50L-₹1Cr, 15% for ₹1Cr-₹2Cr, 25% for ₹2Cr-₹5Cr, and 37% above ₹5Cr. This is often missing in other calculators, making ours more accurate for high-income taxpayers.
Is this calculator trusted by professionals?
Yes, our calculator uses official tax formulas and handles all edge cases correctly, making it suitable for use by Chartered Accountants, tax professionals, and individuals. It's more accurate than most commercial tax calculators available online.