Income Tax Calculator
Compare Old vs New Regime instantly. Updated with the latest budget rules for FY 2025-26 (₹12L Rebate) and FY 2024-25 .
Select Financial Year
Are you planning or filing?
1. Income Details
₹
₹
🚫 Deductions not applicable in New Regime
2. Deductions (Old Regime)
✓
Standard Deduction
₹75,000
Total Tax Payable
₹0
under New Regime
Base Tax
₹0
Cess (4%)
₹0
Monthly In-Hand
₹0
ℹ️ Active Tax Rules:
Calculating for FY 2025-26. Rebate is applicable up to ₹12 Lakhs income.
How to Use the FinKinetic Income Tax Calculator
Calculating your income tax liability has never been easier. Whether you are a salaried employee or a business owner, our calculator helps you plan your taxes in three simple steps:
- Choose the Year: Select FY 2025-26 to check taxes under the latest budget rules (with the ₹12 Lakh rebate) or FY 2024-25 for current tax filing.
- Enter Income: Input your Gross Annual Salary and any other income sources (like interest, freelancing, or rental income).
- Compare Regimes: Toggle between "Old Regime" and "New Regime" to see which one saves you more money. The tool automatically applies the correct Standard Deduction (₹75,000 for FY 25-26).
New vs Old Tax Regime: Full Comparison
| Feature | New Regime (FY 25-26) | Old Regime |
|---|---|---|
| Standard Deduction | ₹75,000 | ₹50,000 |
| Zero Tax Limit (Rebate) | Up to ₹12 Lakhs | Up to ₹5 Lakhs |
| Tax Slabs | Simplified (Lower Rates) | Complex (Higher Rates) |
| 80C / HRA / Loans | Not Allowed | Allowed |
✅ New Regime is Better If:
- • Your annual income is below ₹15 Lakhs.
- • You do not pay rent (No HRA claim).
- • You don't have a Home Loan Interest deduction.
- • You want to avoid paperwork and investment proofs.
✅ Old Regime is Better If:
- • You have total deductions exceeding ₹4 Lakhs.
- • You have significant HRA & Home Loan Interest.
- • You already invest heavily in PPF, ELSS, and NPS.
- • You have medical insurance for parents (Section 80D).
Frequently Asked Questions (People Also Ask)
Which is better for AY 2025-26: Old Tax Regime or New Tax Regime?
The "better" regime depends entirely on your eligible deductions (like 80C, HRA, home loan interest). If your total tax-saving investments are minimal, the New Tax Regime is generally more beneficial due to lower tax rates and a higher rebate limit (tax-free up to ₹7 lakhs). If you have significant deductions exceeding ₹3.75 Lakhs, the Old Tax Regime might save you more money.
What are the new income tax slabs in India?
Under the New Tax Regime, the basic exemption limit is ₹3 lakhs. The income tax slabs are progressively taxed: ₹3-6 lakhs at 5%, ₹6-9 lakhs at 10%, ₹9-12 lakhs at 15%, ₹12-15 lakhs at 20%, and any income above ₹15 lakhs is taxed at 30%.
How do I calculate my net taxable income?
To calculate your taxable income, start with your Gross Total Income (which includes salary, business income, capital gains, etc.). Then, subtract all eligible deductions (like Section 80C, 80D) and the standard deduction. The remaining amount is your net taxable income, upon which the current tax slab rates are applied.
Is the standard deduction available in the New Tax Regime?
Yes! A standard deduction of ₹50,000 is available for salaried individuals and pensioners under both the Old Tax Regime and the New Tax Regime.