Income Tax Calculator for AY 2025-26 (FY 2024-25)
Calculate your tax liability under old or new regime with ease!
Table of Contents
Income Tax Calculator AY 2025-26
What is Income Tax Calculator AY 2025-26?
The Income Tax Calculator for AY 2025-26 (Financial Year 2024-25) is a free online tool designed to help Indian residents estimate their income tax liability. It supports both the old and new tax regimes, allowing users to compare and choose the most beneficial option for their financial situation.
Under the new tax regime, taxpayers can benefit from lower tax rates but with fewer deductions. The slabs are: Up to ₹3,00,000 - Nil; ₹3,00,001 to ₹7,00,000 - 5%; ₹7,00,001 to ₹10,00,000 - 10%; ₹10,00,001 to ₹12,00,000 - 15%; ₹12,00,001 to ₹15,00,000 - 20%; Above ₹15,00,000 - 30%. A standard deduction of ₹75,000 is available on salary income, and a rebate under Section 87A makes tax zero if total income is up to ₹7,00,000.
In the old tax regime, more deductions are allowed under sections like 80C (up to ₹1.5 lakh for investments), 80D (medical insurance), and others. The slabs vary by age: For individuals below 60 - Up to ₹2,50,000 Nil; ₹2,50,001 to ₹5,00,000 - 5%; ₹5,00,001 to ₹10,00,000 - 20%; Above ₹10,00,000 - 30%. Senior citizens (60-79) have a higher exemption limit of ₹3,00,000, and super seniors (80+) have ₹5,00,000. Standard deduction is ₹50,000.
This calculator incorporates advanced features such as age-based slab adjustments, automatic standard deduction application, rebate under 87A, health and education cess at 4%, and surcharge for high-income earners (above ₹50 lakh). It's ideal for salaried individuals, freelancers, and retirees to plan their taxes efficiently and avoid surprises during filing.
By providing printable results, the tool ensures you can easily share or keep records for consultation with tax professionals. Stay updated with the latest tax rules for AY 2025-26 and optimize your savings.
How to Use the Income Tax Calculator
Follow these simple steps to estimate your income tax:
- Select Tax Regime: Choose between New or Old regime.
- Select Age Category: Pick your age group for accurate slab application (affects old regime).
- Enter Gross Annual Income: Input your total income before deductions.
- Enter Deductions (Old Regime): Sum up eligible deductions like 80C, 80D, etc.
- Calculate: Click "Calculate Tax" to view the breakdown.
- Print: Use "Print Result" for a hard copy.
The calculator automatically applies standard deductions, rebates, cess, and surcharges for precise results.
Frequently Asked Questions
1. What is the difference between old and new tax regimes for AY 2025-26?
The new regime offers lower tax rates but fewer deductions, while the old allows more exemptions like 80C but has higher rates.
2. What is the standard deduction in the new tax regime?
It is ₹75,000 on salary income for AY 2025-26.
3. Who can claim rebate under Section 87A?
Resident individuals with total income up to ₹7,00,000 in new regime or ₹5,00,000 in old regime.
4. How does age affect tax calculation?
In the old regime, senior and super senior citizens have higher exemption limits.
5. Is surcharge applicable?
Yes, for taxable income above ₹50 lakh: 10% (50L-1Cr), 15% (1-2Cr), 25% (2-5Cr), 37% (above 5Cr), but limited to 25% in new regime for certain incomes.
6. What is health and education cess?
It is 4% on the income tax plus surcharge.
7. Can I use this calculator for non-residents?
No, it is designed for resident individuals. Non-residents have different rules.
8. Are deductions allowed in the new regime?
Limited; mainly standard deduction and employer NPS contributions.
9. How accurate is this calculator?
It provides estimates based on current slabs; consult a tax advisor for complex cases.
10. Can I print the tax calculation?
Yes, click the "Print Result" button for a printable version.