Income Tax Calculator FY 2025-26 (AY 2026-27) โ Old vs New Regime
Compare your income tax liability under the New Tax Regime and Old Tax Regime for Financial Year 2025-26 (Assessment Year 2026-27). Calculate deductions under Section 80C, 80D, HRA, Section 24 (Home Loan), NPS (80CCD), and Section 87A rebate.
Key Highlights of Union Budget Tax Revisions
- ๐ Enhanced Standard Deduction: Increased to
โน75,000for salaried employees under the New Regime. - ๐ Rebate u/s 87A: Full tax rebate for net taxable income up to
โน12,00,000under the New Tax Regime. - ๐ Default Tax Regime: The New Tax Regime is the default option; however, taxpayers can opt for the Old Regime at the time of ITR filing.
Income Tax Slabs Comparison Table FY 2025-26
Side-by-side comparison of tax rates applicable to individual taxpayers below 60 years of age:
| Income Slab Range | New Tax Regime Rate | Old Tax Regime Rate |
|---|---|---|
| Up to โน3,00,000 | NIL (No Tax) | NIL (No Tax up to โน2.5L) |
| โน3,00,001 to โน7,00,000 | 5% (Rebate u/s 87A applies) | 5% |
| โน7,00,001 to โน10,00,000 | 10% | 20% |
| โน10,00,001 to โน12,00,000 | 15% | 30% |
| โน12,00,001 to โน15,00,000 | 20% | 30% |
| Above โน15,00,000 | 30% | 30% |
Tax Deductions Allowed Under Old Tax Regime
Section 80C (Max โน1,50,000)
EPF, PPF, ELSS mutual funds, LIC premiums, home loan principal repayment, children tuition fees.
Section 80D Health Insurance
Medical insurance premiums up to โน25,000 for self/family and โน50,000 for senior citizen parents.
House Rent Allowance (HRA)
Exemption calculated under Section 10(13A) based on rent paid, basic salary, and city tier.
Section 24(b) Home Loan Interest
Deduction up to โน2,00,000 per year on home loan interest for self-occupied residential property.
Frequently Asked Questions (FAQs)
Which is better: Old or New Tax Regime?
If your total deductions (80C, 80D, HRA, Home Loan Interest) exceed โน3.75 Lakh per year, the Old Tax Regime will usually save you more tax. Otherwise, the New Tax Regime is more beneficial.
What is the Standard Deduction for FY 2025-26?
The Standard Deduction for salaried employees is โน75,000 under the New Tax Regime and โน50,000 under the Old Tax Regime.
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