What are the new income tax slabs for FY 2025-26?

Under the new regime (Budget 2025): 0% up to ₹4L, 5% from ₹4L-8L, 10% from ₹8L-12L, 15% from ₹12L-16L, 20% from ₹16L-20L, 25% from ₹20L-24L, and 30% above ₹24L. With the Section 87A rebate, there is effectively zero tax for income up to ₹12 lakh.

Should I choose new regime or old regime in FY 2025-26?

The new regime is generally better unless you have significant deductions. You would need deductions exceeding roughly ₹3.75L (for someone earning ₹15L) to make the old regime beneficial. Use this calculator to compare both for your specific income and deductions.

What is Section 87A rebate?

Section 87A provides a full tax rebate. Under the new regime, if your net taxable income is ₹12 lakh or less, you pay zero income tax. Under the old regime, the rebate applies if taxable income is ₹5 lakh or less.

What deductions can I claim under the old regime?

Under the old regime you can claim: Standard deduction ₹50,000, Section 80C up to ₹1,50,000 (PPF, ELSS, LIC, EPF), Section 80D health insurance up to ₹25,000 (₹50,000 for senior citizens), HRA exemption, Home loan interest under Section 24b up to ₹2,00,000, NPS under 80CCD(1B) up to ₹50,000, and more.

How is surcharge calculated on income tax in India?

Surcharge is levied on the income tax amount (not income): 10% for income ₹50L-1Cr, 15% for ₹1Cr-2Cr, 25% for ₹2Cr-5Cr. Above ₹5Cr: 25% under new regime, 37% under old regime. Then 4% Health & Education Cess is applied on (tax + surcharge).

What is the income tax exemption limit for senior citizens?

Under the old regime: Senior citizens (60-80 years) have a basic exemption of ₹3,00,000. Super senior citizens (80+ years) have an exemption of ₹5,00,000. Under the new regime, the same slabs apply for all ages but senior citizens still benefit from higher deductions under 80D.

All Tools

📊

Income Tax Calculator India FY 2025-26

Free to Use

Calculate income tax for FY 2025-26 (AY 2026-27). Compare new vs old tax regime. Includes capital gains, rental income, 87A rebate, surcharge, cess, advance tax schedule. Budget 2024 & 2025 rates.

Country

Tax Regime

New Regime (Budget 2025): Standard deduction ₹75,000 • 87A rebate up to ₹12L • No HRA/80C exemptions allowed

Age Group

Income Details

Annual Gross Salary (₹)

CTC / gross before deductions. Standard deduction applied automatically.

Rental Income (₹)

Added to total income and taxed at slab rates

FD / Savings Bank Interest (₹)

Taxed at slab rates. Use 80TTA/80TTB deduction (old regime) to offset.

Short-Term Capital Gains — STCG (₹)20% flat

Equity / MF held < 1 yr. Taxed @ 20% (Budget 2024, effective 23 Jul 2024). Old regime: taxed at 30% slab.

Long-Term Capital Gains — LTCG on Equity (₹)12.5% above ₹1.25L

Equity / equity MF held > 1 yr. First ₹1,25,000 exempt. Balance @ 12.5% (Budget 2024).

TDS Already Deducted (₹)by employer / bank

Deducted at source. Shows "Tax Still Payable" in results.

Deductions (Old Regime)

Old Regime only

Section 80C (₹)max ₹1,50,000

PPF, ELSS, LIC, EPF, NSC, etc.

Section 80D — Self & Family (₹)max ₹25,000

Health insurance premium for self, spouse, children

Section 80D — Parents (₹)max ₹25,000

Total 80D (self + parents) can be up to ₹1,00,000

HRA Exemption (₹)

Use Hand Salary Calculator to compute HRA exemption

Home Loan Interest — Section 24b (₹)max ₹2,00,000

NPS — Section 80CCD(1B) (₹)max ₹50,000

80TTA – Savings Bank Interest (₹)max ₹10,000

80TTA: deduction on savings account interest only (max ₹10K)

Other Deductions (₹)

80G donations, 80E education loan interest, etc.

✓ New Regime is better for you

Save ₹1,01,400/year by choosing the New Regime

Save ₹1,01,400

New Regime

Better

Total Income₹12,00,000

Standard Deduction−₹75,000

Taxable (Regular)₹11,25,000

Base Tax (slabs)₹0

Surcharge₹0

Cess (4%)₹0

Total Tax Payable₹0

Monthly TDS₹0

Effective Rate0.00%

87A rebate: zero slab tax (income ≤ ₹12L)

Old Regime

Total Income₹12,00,000

Total Deductions−₹2,75,000

Taxable (Regular)₹9,25,000

Base Tax (slabs)₹97,500

Surcharge₹0

Cess (4%)₹3,900

Total Tax Payable₹1,01,400

Monthly TDS₹8,450

Effective Rate8.45%

Income Breakdown — New Regime

Take-Home (Net Income)₹12,00,000 (100.0%)

Slab-wise Tax Breakdown — New Regime

Income Slab	Rate	Tax on Slab
₹0 – ₹4,00,000	0%	₹0
₹4,00,000 – ₹8,00,000	5%	₹20,000
₹8,00,000 – ₹12,00,000	10%	₹32,500
Base Tax Subtotal		₹0
+ Surcharge		₹0
+ Health & Education Cess (4%)		₹0
Total Tax Payable		₹0

FY 2025-26 Tax Slabs Reference

New Regime (Budget 2025)

₹0 – ₹4,00,000	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%

87A rebate: zero tax if taxable income ≤ ₹12L

Old Regime

₹0 – ₹2,50,000 (₹3L/₹5L for seniors)	0%
Up to ₹5,00,000	5%
₹5,00,001 – ₹10,00,000	20%
Above ₹10,00,000	30%

Senior (60+): ₹3L exempt • Super senior (80+): ₹5L exempt
87A rebate: zero tax if taxable income ≤ ₹5L (below 60 only)

Capital Gains (all regimes)

STCG equity/MF (held < 1yr)20%

LTCG equity/MF (held > 1yr)12.5% (above ₹1.25L)

Budget 2024 rates effective 23 Jul 2024

Free & unlimited — no account needed. Sign up to save history · Go Pro for advanced features