Income Tax Calculator — Old vs New

01Profile & tax year

Financial / tax yearFrom 1 April 2026 to 31 March 2027

Taxpayer

Age during tax year

Residential statusRNOR and foreign-income/treaty rules need separate review.

Employer category (for NPS deduction)

Both regimes are calculated for planning. For business/professional income, switching regimes can require specific formalities and may not be freely reversible every year.

02Employment & other income

Salary, pension & business

Gross annual salary / employer pension

₹

Before standard deduction. Include taxable HRA and employer NPS contribution.

Net taxable business / professional profit

₹

Enter already computed taxable profit. Presumptive tax, AMT, losses and audit rules not calculated.

Savings account interest

₹

FD / RD / other deposit interest

₹

Dividend income

₹

Taxed at slab rates, with special surcharge cap.

Family pension

₹

Automatic deduction: ⅓ up to ₹15,000/₹25,000.

Other taxable income at slab rates

₹

Example: miscellaneous taxable receipts. Do not include exempt income, special-rate gains or rental income again.

03HRA, exemptions & home loans

House rent allowance — old regime only

Annual basic salary + eligible DA

₹

Needed for HRA and employer NPS limit.

Annual HRA received

₹

Annual eligible rent paid

₹

City of rented accommodationTY 2026–27: 50% in eight listed cities, 40% elsewhere. FY 2025–26: 50% in four original cities only.

Source: Income-tax Rules, 2026, Rule 279 (effective 1 April 2026). For FY 2025–26, former Rule 2A applies.

Estimated HRA exemption (old regime)₹0

Other salary relief — old regime only

Verified exempt LTA and eligible allowances

₹

Only if included in salary and statutory conditions are met.

Professional tax paid

₹

Income from house property

Annual gross rent / annual value

₹

Let-out property; vacancy/deemed rent needs manual review.

Municipal taxes actually paid

₹

Let-out home loan interest

₹

Self-occupied home loan interest

₹

Old regime only; ₹2 lakh or ₹30,000 condition-dependent cap.

Self-occupied interest limit applicable

Let-out property: 30% deduction on net annual value and eligible borrowing interest are considered. A house-property loss cannot be set off against other income in the new regime; only up to ₹2 lakh inter-head set-off is modeled in the old regime. Carry-forwards are not computed.

04Capital gains & special-rate income

Other short-term gains (slab rates)

₹

Only STCG legally chargeable at normal rates.

STCG on eligible listed equity / equity funds

₹

Section 111A equivalent: 20% for transfers after 22 July 2024.

LTCG on listed equity / equity funds

₹

Enter full net eligible gains. ₹1,25,000 yearly zero-rate threshold is automatic; 12.5% thereafter.

Other eligible long-term gains

₹

Simple 12.5% basis after any valid exemptions; no indexation option modeled.

Lottery / gambling / online game winnings

₹

Indicative 30% special rate; unique gaming, TDS and no-deduction rules must be checked.

Important: Include NET eligible gains after eligible costs, losses and exemptions are computed separately. The calculator does not calculate STT eligibility, grandfathering, reinvestment exemptions, crypto/VDA tax, asset-specific capital gains, or capital-loss set-off. Special-rate taxes are not fully covered by the ₹12 lakh rebate.

05Chapter deductions & NPS

Old-regime deductions

80C / 80CCC / 80CCD(1) combined

₹

EPF, PPF, ELSS, LIC, tuition, eligible home-loan principal, etc. Combined maximum ₹1,50,000.

Additional own NPS contribution

₹

80CCD(1B): ₹50,000 cap, separate from ₹1.5 lakh.

Health insurance / eligible expenses — family

₹

80D: ₹25,000; ₹50,000 if an eligible senior citizen is covered.

Health insurance / eligible expenses — parents

₹

Additional ₹25,000 or ₹50,000 for senior-citizen parent.

At least one eligible parent is a senior citizen (60+)

Education loan interest

₹

80E, subject to purpose, borrower and eight-year conditions.

Eligible donation deduction (not gross donation)

₹

80G: enter amount already calculated at 50%/100%, limits and eligible payment mode.

Other verified old-regime deductions

₹

For eligible 80DD, 80DDB, 80U, 80GGC, etc. Calculate and validate externally.

Employer NPS contribution — both regimes

Employer contribution included in gross salary

₹

80CCD(2). New: 14% of eligible salary. Old: 10% for private/PSU; 14% for government.

Indicative eligible employer NPS deduction₹0

The calculator automatically applies 80TTA up to ₹10,000 on savings interest (non-seniors) or 80TTB up to ₹50,000 on eligible deposit interest (resident seniors), old regime only. Other conditional deductions are input as pre-verified eligible amounts.

06Taxes already paid

TDS deducted / collected

₹

TCS credit

₹

Advance tax paid

₹

Self-assessment tax paid

₹

Balance/refund excludes interest under 234A/234B/234C, late fees, relief under 89/90/91, MAT/AMT, and tax credits requiring specialized verification.