Updated for FY 2025-26 & FY 2026-27

Income Tax Calculator

Compare Old vs New Tax Regime — accurate computation for Resident Individuals, Senior Citizens, Super Senior Citizens, and HUFs. Includes 87A rebate, surcharge, capital gains, and Health & Education Cess.

By B.A. Bedawala & Co., Chartered Accountants, Ahmedabad

📋 Coverage: Supports Resident Individuals (below 60), Senior Citizens (60–79), Super Senior Citizens (80+), and Hindu Undivided Families (HUF). Tax computation per Income Tax Act, 1961. Non-Resident Individuals, Firms, LLPs, and Companies are outside the scope of this tool.

📌 Note: Union Budget 2026 retained the New Regime slabs, surcharge, Section 87A rebate, and Health & Education Cess at the same levels as FY 2025-26 (introduced via Budget 2025). The same computation applies to both Financial Years.

1 Basic Details

Tell us about the taxpayer — these settings determine which tax rules apply.

From Form 26AS / AIS / TIS
⚠️ HUF Tax Rules — Important Differences:
  • No Section 87A rebate — Available only to Resident Individuals
  • No Standard Deduction — HUF has no salary income
  • No HRA exemption — Salary-linked benefit
  • Slab rates same as Individual below 60 (no senior citizen preference)
  • 80C, 80D, Home Loan interest — Available in Old Regime only
ℹ️ Senior Citizen (60–79) — Tax Benefits:
  • Higher basic exemption in Old Regime: ₹3 lakh (vs ₹2.5 lakh for Individual)
  • 80TTB: Interest deduction up to ₹50,000 (covers FD, savings, post office)
  • 87A rebate eligible if income within threshold
  • New Regime slabs apply uniformly — no senior preference in New Regime
ℹ️ Super Senior Citizen (80+) — Tax Benefits:
  • Highest basic exemption in Old Regime: ₹5 lakh
  • 80TTB: Interest deduction up to ₹50,000
  • Cannot file ITR-1 offline — Online ITR-1/ITR-2 only
  • 87A rebate available but Old Regime already exempts up to ₹5L through slab

Quick Start — Try Sample Scenarios

Click any sample below to auto-fill typical values for that income level.

2 Income Details

Enter your annual income from each source. Enter zero or leave blank if not applicable.

Standard Deduction will be auto-applied for salaried Resident Individuals
Net profit after business expenses
Can be negative for self-occupied property loss
Interest, dividend, gifts, etc.

📈 Capital Gains (Optional)

Taxed at 20% (from 23-Jul-2024)
Taxed at 12.5% (above ₹1.25L exempt)
Added to slab income, taxed at slab rates
Taxed at 12.5% (no indexation post 23-Jul-2024)

3 Deductions & Exemptions (Old Regime Only)

These deductions reduce your taxable income under Old Regime. New Regime allows only Standard Deduction (for salaried) and 80CCD(2). All amounts in ₹.

Maximum ₹1,50,000
Max ₹25K self + ₹25K parents (₹50K if senior)
Maximum ₹50,000 (over and above 80C)
Compute exempt portion separately, enter result here
Max ₹2,00,000 for self-occupied property
Max ₹10,000 (or ₹50,000 if Senior/Super Senior)
💡 Standard Deduction is auto-applied if you've entered Salary Income above (Resident Individual / Senior / Super Senior only).
  • Old Regime: ₹50,000
  • New Regime FY 2025-26 & FY 2026-27: ₹75,000

📞 Need Professional Tax Planning?

Tax computation can become complex with HRA optimization, multiple income sources, business income, or special tax provisions. Our team handles ITR filing, tax planning, scrutiny defense, and refund applications. Free first consultation.

⚠️ Disclaimer: This calculator provides an indicative tax computation based on prevailing Income Tax provisions for FY 2025-26 and FY 2026-27. Actual tax liability may differ due to additional factors such as Alternate Minimum Tax (AMT), foreign income, DTAA relief, advance tax adjustments, Section 50C deemed income, surcharge marginal relief at exact thresholds, and other situational provisions. Standard Deduction is auto-applied only if Salary income is entered. Always verify computation with a qualified Chartered Accountant before filing ITR. For complex tax situations, consult professionally.