Income Tax Calculator
Calculate your income tax liability for the current assessment year under both old and new tax regimes.
Income
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₹
₹
₹
Total Tax Payable₹0
No tax payable! 🎉
Your income falls within the rebate limit.
Breakdown
Gross Income₹12,00,000
Standard Deduction-₹75,000
Taxable Income₹11,25,000
Tax Computation
Tax on Slabs₹52,500
Rebate (Sec 157/87A)-₹52,500
Tax After Rebate₹0
Cess (4%)₹0
Slab-wise Tax
| Slab | Rate | Taxable | Tax |
|---|---|---|---|
| ₹0.0L – ₹4.0L | 0% | ₹4,00,001 | ₹0 |
| ₹4.0L – ₹8.0L | 5% | ₹4,00,000 | ₹20,000 |
| ₹8.0L – ₹12.0L | 10% | ₹3,24,999 | ₹32,500 |
| ₹12.0L – ₹16.0L | 15% | ₹0 | ₹0 |
| ₹16.0L – ₹20.0L | 20% | ₹0 | ₹0 |
| ₹20.0L – ₹24.0L | 25% | ₹0 | ₹0 |
| Above ₹24.0L | 30% | ₹0 | ₹0 |
Using New Regime for AY 2027-28. Not sure which is better? Compare regimes →
Frequently Asked Questions
What are the new tax slabs for FY 2025-26 (AY 2026-27)?▼
Under the new regime: ₹0–4L: Nil, ₹4–8L: 5%, ₹8–12L: 10%, ₹12–16L: 15%, ₹16–20L: 20%, ₹20–24L: 25%, Above ₹24L: 30%. The standard deduction is ₹75,000 for salaried individuals.
What is the Section 87A / Section 157 rebate?▼
Under the new Income Tax Act 2025 (Section 157, formerly 87A), taxpayers with taxable income up to ₹12 lakh under the new regime get a full rebate of up to ₹60,000. Under the old regime, income up to ₹5 lakh gets a rebate of ₹12,500.
What is marginal relief?▼
If your income slightly exceeds the rebate threshold, the tax payable will not exceed the amount by which your income exceeds the threshold. This prevents a situation where earning ₹1 more causes a disproportionate jump in tax.
What is Health & Education Cess?▼
A 4% cess is applied on income tax plus surcharge. This cess funds health and education programmes and applies to all taxpayers regardless of regime.
Which regime is the default?▼
The new tax regime is the default regime from FY 2023-24 onwards. You must specifically opt out to use the old regime. Salaried individuals can switch each year at the time of filing.
This calculator provides estimates for informational purposes only. Actual outcomes may vary based on applicable laws, financial institutions, products and individual circumstances.