Compare tax liabilities under the Old and New Tax Regimes for FY 2026-27 (AY 2027-28) online instantly. 100% private, client-side calculator.
Plan your taxes and evaluate your savings with our advanced Income Tax Calculator. It calculates your tax liability for Financial Year 2024-25 (Assessment Year 2025-26) under both the New Tax Regime (with the updated slabs and ₹75,000 standard deduction) and the Old Tax Regime. Compare both regimes to choose the one that minimizes your tax liability.
It includes deductions under Section 80C, 80D, and HRA exemptions to provide an accurate estimate of tax liabilities.
| Taxable Income Slab (New Regime) | Tax Rate (%) | Tax Slab (Old Regime) |
|---|---|---|
| Up to ₹3,000,000 | Nil (0%) | Up to ₹250,000 (Nil) |
| ₹300,001 - ₹600,000 | 5% | ₹250,001 - ₹500,000 (5%) |
| ₹600,001 - ₹900,000 | 10% | ₹500,001 - ₹1,000,000 (20%) |
| ₹900,001 - ₹1,200,000 | 15% | Above ₹1,000,000 (30%) |
| ₹1,200,001 - ₹1,500,000 | 20% | - |
| Above ₹1,500,000 | 30% | - |
For FY 2024-25, the standard deduction has been increased to ₹75,000 under the New Tax Regime. It remains ₹50,000 under the Old Tax Regime.
Yes, under Section 87A of the New Tax Regime, individuals with taxable income up to ₹7,00,000 pay zero tax due to tax rebates.
Salaried individuals can switch between the Old and New regimes every financial year at the time of filing their ITR.
Very few deductions are allowed: standard deduction of ₹75,000, employer contribution to NPS (80CCD(2)), and family pension deduction.
Under the Old Tax Regime, you can claim deductions up to ₹1,50,000 under Section 80C for PF, ELSS, PPF, Life Insurance, etc.
Individuals with taxable income below the basic exemption limit (₹3 Lakhs for New Regime, ₹2.5 Lakhs for Old Regime) do not need to file returns, though it is good practice to do so.
Yes, it adds the mandatory 4% Health and Education Cess on top of the calculated income tax amount.
HRA exemption is the minimum of: 1) Actual HRA received, 2) 50% (metro) or 40% (non-metro) of basic salary, or 3) Rent paid minus 10% of basic salary. This is only available under the Old Regime.
Surcharge is an additional tax levied on taxpayers with high incomes: 10% for income above ₹50 Lakhs, 15% above ₹1 Crore, 25% above ₹2 Crore, etc.
Under the Old Regime, interest on home loans for self-occupied property is deductible up to ₹2,0,000 under Section 24(b). This is not available under the New Regime.