Individuals have the option to file taxes under either the old or new tax regime with each offering different regulations and deductions. To accurately calculate your tax liabilities, you can use our income tax calculator, which is a cost-effective alternative to hiring a professional tax consultant. This tool not only helps you understand your tax obligations but also simplifies the process of comparing both regimes.
Explore how the tax calculator works, their benefits, and how they can streamline your tax planning for smarter financial decisions.
Budget 2025 updates:
- No income tax for income upto Rs. 12 Lakhs. This is because of rebate applicable to new regime, which is Rs. 60,000
- Modified slab rates for new regime are as follows for FY 2025-2026 (AY 2026-2027)
| Income Tax Slabs | Tax Rate |
| Upto Rs. 4,00,000 | NIL |
| Rs. 4,00,001 – Rs. 8,00,000 | 5% |
| Rs. 8,00,001 – Rs. 12,00,000 | 10% |
| Rs. 12,00,001 – Rs. 16,00,000 | 15% |
| Rs. 16,00,001 – Rs. 20,00,000 | 20% |
| Rs. 20,00,001 – Rs. 24,00,000 | 25% |
| Above Rs. 24,00,000 | 30% |
What is the Income Tax Calculator?
The Income tax calculator is an easy-to-use online tool that helps you calculate your tax liability based on your income details. It also gives you a comparison of tax liability between the old and new tax regimes to help you decide which is more beneficial for you. We have updated our tool in line with the income tax changes proposed in the Union Budget 2025 to help you estimate your tax liability for better financial planning.
Income Tax Slab Rates for Financial Year 2025-26
To calculate income tax for FY 2025-26, as seen above, the new tax regime has reduced tax slab rates. This means that if you do not opt for any investment deductions, you will pay lower income tax.
If you want to save income tax by claiming various deductions, you need to check how much tax can be saved using the old tax regime.
Which Tax Regime Should You Choose?
The answer to this question depends on each individual. Every person has a different income in a financial year. Based on investment options and deductions, income tax can be calculated accordingly.
Below is a table comparing the income tax under the new tax regime and the old tax regime:
