Income Tax CalculatorFY 2025-26

The calculator uses the FY 2026-27 slabs, which remain unchanged from FY 2025-26 under Budget 2026. Under the new tax regime, income up to ₹4 lakh is nil, then 5% (₹4–8 lakh), 10% (₹8–12 lakh), 15% (₹12–16 lakh), 20% (₹16–20 lakh), 25% (₹20–24 lakh), and 30% above ₹24 lakh. The new tax regime under Section 115BAC follows this 7-slab structure, and the calculator applies these automatically once you enter your income. Bajaj Finserv

Yes, effectively. Under the new tax regime, the tax rebate under Section 87A goes up to ₹60,000 for taxable income up to ₹12 lakh, making that segment of income completely tax-free. For salaried taxpayers, the ₹75,000 standard deduction pushes this tax-free ceiling up to roughly ₹12.75 lakh of gross salary. The calculator factors in both the rebate and the standard deduction when it shows your final liability.

It depends on how many deductions you claim. The new regime offers lower slab rates but very few deductions, while the old regime keeps benefits like Section 80C, HRA, and home loan interest but at higher rates. If you’re claiming substantial deductions under Section 80C, home loan interest, HRA, and similar benefits, the old regime may still work out cheaper, but if your deductions are limited, the new regime is usually more suitable. Run both scenarios in the calculator and compare the final tax payable side by side.

No. Budget 2026 made no changes to the income tax slabs, and the rates announced earlier continue to apply for the relevant assessment year under the new tax regime. The bigger change is procedural — the Income Tax Act, 2025 formally replaces the old 1961 Act from 1 April 2026 — but slab rates and rebate limits stay the same.

No. The new tax regime applies the same slabs to everyone regardless of age — individuals below 60, senior citizens (60–80), and super senior citizens (80+) are all taxed identically. Only the old regime offers senior citizens a higher basic exemption limit and extra deductions, so if you’re a senior citizen with sizeable deductions, it’s worth comparing both regimes in the calculator before deciding.

Very few compared to the old regime, but not zero. A standard deduction of ₹75,000 applies for salaried individuals and pensioners, and employer contributions to NPS under Section 80CCD(2) also remain permitted, while most Section 10 exemptions like HRA and LTA are not available. Enter these two if applicable — the calculator will apply them before computing your taxable income.

The new regime is the default, so no action is needed if you want to stay on it. If you want to switch to the old regime instead, you need to file Form 10-IEA before your income tax return, and for salaried individuals this choice can be made afresh each year. Use the calculator to check your liability under both regimes first, so you know which one to select before filing Form 10-IEA