Income Tax Calculator (India)
Compare New vs Old Tax Regime liability instantly in real-time. Includes Union Budget FY 2026-27 verified slabs, Section 87A marginal relief, and statutory deduction limits.
Income Parameters
AY 2027-28Total income before any exemptions or deductions.
Old Regime Deductions & Exemptions
Applied to Old Regime OnlyStatutory deduction limit: ₹1,50,000 per financial year.
Max ₹25,000 for general / ₹50,000 for senior citizens.
Additional NPS tax benefit limit: ₹50,000.
Max ₹2,00,000 deduction on self-occupied home loan interest.
Calculate minimum of Actual HRA, Rent paid - 10% salary, or 50%/40% basic.
Education loan interest (80E), donations (80G), savings interest (80TTA/TTB).
🎉 New Tax Regime saves you ₹1,11,800 tax annually!
Regime Comparison Matrix
| Tax Computation Component | New Tax Regime (Default) | Old Tax Regime (Optional) |
|---|---|---|
| Gross Annual Income | ₹12,00,000 | ₹12,00,000 |
| Less: Standard Deduction | -₹75,000 | -₹50,000 |
| Less: Sec 80C, 80D, 24(b) Deductions | ₹0 (Not Allowed) | -₹1,75,000 |
| Net Taxable Income | ₹11,25,000 | ₹9,75,000 |
| Tax Calculated as per Slabs | ₹52,500 | ₹1,07,500 |
| Less: Section 87A Tax Rebate | -₹52,500 | -₹0 |
| Surcharge | +₹0 | +₹0 |
| Health & Education Cess (4%) | +₹0 | +₹4,300 |
| Total Tax Payable | ₹0 | ₹1,11,800 |
| Monthly TDS Deduction | ₹0 / mo | ₹9,317 / mo |
| Net Take-Home Salary | ₹12,00,000 | ₹10,88,200 |
Slab-Wise Tax Breakdown (New Regime)
| Tax Slab Range | Tax Rate | Taxable Amount in Slab | Tax Amount |
|---|---|---|---|
| Up to ₹4,00,000 | 0% | ₹4,00,000 | ₹0 |
| ₹4,00,001 to ₹8,00,000 | 5% | ₹4,00,000 | ₹20,000 |
| ₹8,00,001 to ₹12,00,000 | 10% | ₹3,25,000 | ₹32,500 |
| ₹12,00,001 to ₹16,00,000 | 15% | ₹0 | ₹0 |
| ₹16,00,001 to ₹20,00,000 | 20% | ₹0 | ₹0 |
| ₹20,00,001 to ₹24,00,000 | 25% | ₹0 | ₹0 |
| Above ₹24,00,000 | 30% | ₹0 | ₹0 |
Official Disclaimer
This calculator uses FY 2026-27 tax slabs as per Union Budget 2025-26 (unchanged in Budget 2026). Rates may change in future budgets — please verify with the official Income Tax Department website (incometax.gov.in) or a tax professional before filing.
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01How to use Income Tax Calculator (India)
Select your Financial Year (FY 2026-27, FY 2025-26, or FY 2024-25) and Age Category.
Enter your Gross Annual Salary using the interactive sliders or numeric input box.
In the Old Tax Regime Deductions section, enter your investments under 80C (max ₹1.5L), 80D (Health Insurance), Home Loan Interest (Section 24b), HRA, and NPS.
Instantly view side-by-side tax calculations for New Tax Regime vs Old Tax Regime.
Check the recommendation badge to see which regime saves you more money, along with monthly TDS estimates, slab breakdowns, and tax-to-salary ratio pie charts.
02Key Features
New vs Old Regime Comparison
Instant side-by-side tax computation showing exact tax savings under each regime.
Latest Budget Slab Updates
Includes Union Budget ₹75,000 Standard Deduction under New Regime and Section 87A rebate up to ₹12 Lakhs.
Deductions & Exemptions
Supports Section 80C, 80D, 80CCD(1B), 24b Home Loan Interest, HRA, and Standard Deduction.
100% Client-Side Privacy
Calculates tax 100% locally in your web browser. Zero server logging, zero data storage.
03Practical Packs People Actually Build
- Salaried employees choosing between New and Old Tax Regimes during IT declaration at work.
- Self-employed individuals and freelancers estimating annual tax liability.
- Senior citizens calculating tax on pension and interest income.
- Planning 80C investments, health insurance, and home loan interest tax benefits.
04Benefits
- Make informed tax-saving investment decisions before the financial year ends.
- Understand exact slab-by-slab tax distribution for your income bracket.
- Estimate monthly salary TDS deductions for accurate financial planning.
- Senior Citizen & Super Senior Citizen slab support included.
05What is Income Tax Calculator (India)?
The ToolWala AI Income Tax Calculator helps salaried employees, self-employed professionals, and senior citizens compute exact tax liability under official Income Tax Department slab rates. Input your annual gross salary, age category, Section 80C (PPF/ELSS/EPF), 80D (Health Insurance), Section 24b (Home Loan Interest), and HRA exemptions to discover which regime saves you more tax.
Why Choose ToolWala AI?
Unlike commercial tax portals that ask for PAN card details and phone numbers to sell financial products, ToolWala AI calculates your tax 100% anonymously in browser memory. It provides clear visual pie charts, slab breakdowns, and tax recommendations without any account creation.
Common Questions
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