Financial Calculators

Income Tax Calculator FY 2025-26

Calculate your income tax for FY 2025-26 (AY 2026-27). Compare old and new tax regimes, claim deductions (80C, 80E, 80D), and plan for ITR filing deadlines.

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Tax Filing Deadlines (2025)

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Calculate Your Income Tax

Enter income and deductions to compare tax under old and new regimes. Results are estimates; consult a tax professional.

FAQs

What are the tax slabs for FY 2025-26?

Old regime: Varies by age (e.g., up to ₹2.5 lakh exempt for below 60). New regime: Up to ₹3 lakh exempt, ₹60,000 rebate up to ₹12 lakh.

Can I claim Section 80E with the new regime?

No, Section 80E deductions are available only under the old regime.

What is the ITR filing deadline?

July 31, 2025, for non-audit cases for FY 2025-26. Late filing incurs a ₹5,000 penalty under Section 234F.

What is advance tax and who needs to pay it?

Advance tax is tax paid on income as it is earned, due in installments (e.g., March 15, 2025). Individuals with tax liability exceeding ₹10,000 in a year must pay it, except senior citizens not running a business.

What happens if I miss the ITR filing deadline?

Late filing by December 31, 2025, incurs a ₹5,000 penalty (₹1,000 for income below ₹5 lakh) under Section 234F. You may also face interest under Section 234A and lose certain deductions.

Can I switch between old and new tax regimes?

Yes, salaried individuals can switch regimes each year when filing ITR. Business/professional taxpayers opting out of the new regime can revert only once.

What are other common deductions under the old regime?

Besides 80C, 80E, 80D, and 80CCD(1B), you can claim deductions like 80TTA (savings interest up to ₹10,000), 80G (donations), and 24(b) (home loan interest up to ₹2 lakh).