Income Tax Calculator FY 2025-26 helps you estimate your tax liability quickly using the Income Tax e-filing portal or the official tax calculator tool, under both old and new regimes.
Easily estimate your income tax liability for FY 2025-26
The Article on ” TAX PLANNING FOR FY 2025-26 CONTAINS 11 PARTS
PART I: MAJOR CHANGES IN TAX RULES FOR FY 2025-26
PART 2 : TAX SLABS /RATES FOR FY 2025-26
PART 3 : TAX REBATES FOR FY 25-26
PART 4 : CAPITAL GAIN TAX FOR FY 2025-26
PART 5 : TAX ON SALE OF RESIDENTIAL PROPERTY
PART 8 : INCOME TAX CALCULATOR FOR FY 2025-26
PART 9 : TAX ON RETIREMENT BENEFITS FOR FY 2025-26
PART 10 : HOW TO PAY INCOME TAX ONLINE?
PART 11 : TO KNOW ALL ABOUT TDS RATES ,
PART 8 – TAX ESTIMATION FOR FY 2025 -26
TAX CALCULATOR FY 2025-26
INCOME TAX CALCULATOR INDIA
TAX CALCULATOR – ESTIMATE YOUR INCOME AND TAX LIABILITY
First estimate your income for the financial year .
Calculate Gross Total Income: Add income from all five heads:
- Salary: Basic + Allowances + Bonuses.
- House Property: Rental income (minus 30% standard deduction and home loan interest).
- Capital Gains: Profit from sale of shares, gold, or property (as discussed earlier).
- Business/Profession: Net profit from your work.
- Other Sources: Savings bank interest, FDs, and dividends
Now hold the following documents before going to the tax calculator :
A. The “Master” Documents
- AIS (Annual Information Statement): The most important document. It captures every stock sale, dividend, and high-value spend linked to your PAN.
- TIS (Taxpayer Information Summary): A simplified summary of the AIS.
- Form 26AS: To verify all TDS deducted by your employer, bank, or property buyer
B. Income-Related
- Form 16: Issued by your employer (usually by mid-June).
- Bank Statements & Interest Certificates: For interest earned on Savings, FDs, and RDs.
- Capital Gains Statement: Downloaded from your stockbroker (Zerodha, Upstox, etc.) for shares and mutual funds.
- Sale/Purchase Deeds: If you sold or bought a property during the year.
C. Deduction-Related (If using the Old Regime)
- 80C Proofs: Receipts for LIC, PPF passbook, ELSS statements, and Children’s Tuition Fees.
- 80D Receipts: Health insurance premium receipts for self and parents.
- Rent Receipts & Landlord PAN: Essential for claiming HRA.
- Home Loan Interest Certificate: Issued by your bank/lender
Pro-Tip for 2025: The Income Tax Department has increased AI-driven “nudge” alerts for mismatches. Always reconcile your personal records with your AIS before filing to avoid automated notices.
Estimating your tax liability for FY 2025-26 (Assessment Year 2026-27) involves a systematic calculation of your total income and selecting the most beneficial tax regime.Under the Budget 2025 updates, the New Tax Regime has been significantly liberalized, notably increasing the “no-tax” threshold.
CALCULATE THE INCOME TAX EASILY
Now you can estimate your income tax using either the e-filing website or calculator tool both provided by the income tax department. In the e-filing website, you can estimate your tax either by logging- into your PAN account or without logging in .
The advantage of using an e-filing website is that it provides estimates for both the old regime and the new regime simultaneously, eliminating the need to calculate twice.
Estimate your income tax through the e-filing website of income tax department
ESTIMATE YOUR INCOME TAX IN E-FILING WEBSITE WITHOUT LOGGING IN :
1. Go to e-filing website by clicking here
2. Click on the ” Income tax Calculator ” in the quick links.
3. Now you can either use ” Basic calculator ” or ” Advanced calculator ”
4. BASIC CALCULATOR: Just enter the details
a. Assessment year b . Residency status
c. Senior citizen status d. total income estimated
e. Total deductions estimated.
You will get the estimated income tax both under the old tax regime and the new tax regime. It will give you a rough idea of the tax you may have to pay in the current year.
5. ADVANCED CALCULATOR :
Enter the following details
a. Old tax regime or new tax regime b. Assessment year
c . Residency status d. Senior citizen status
e. Fill in your income details i) Interest from Saving bank account
(ii) Other Interest Income(iii) Winning from the Lottery, crossword puzzles etc.
(iv) Any other income
f : Fill in the details of the deductions: 1. Deductions u/s 80C (LIC, PF, PPF, NSC, Repayment of Housing Loan, etc.)
2. Deduction u/s 80CCC (Payment in respect to Pension Fund)3. Deductions u/s 80CCD(1) (Employee’s / Self-employed contribution towards NPS)
4. Deductions u/s 80CCD (1B) (Additional Employee’s contribution towards NPS)5. Deductions u/s 80CCD (2) (Employers contribution towards NPS)
Total
6. Deductions u/s 80D (MediClaim Premium)7. Deductions u/s 80G (Donations)
8. Deductions u/s 80E (Interest on Loan for Higher Education)9. Deductions u/s 80EE (Interest on Loan taken for Residential House)
10. Deductions u/s 80TTA (Interest on Savings Bank Account)11. Deductions u/s 80TTB (Interest on Deposits)
12. Any other deductionNow you will get the estimate of your taxable income and Income tax payable.
You may enter TCS / TDS already deducted to know net income tax yet to be payable by you .
ESTIMATING INCOME TAX IN THE E-FILING WEBSITE AFTER LOGGING IN :
1. Go to e-filing website and login
2. Enter your PAN Number and password , OTP and log-in
3. Go to ” Income & Tax estimator ” and click
4. Your basic information and TDS / TCS amounts are already filled in
5. Fill in the remaining information on your income and deductions .
6. Click on ” Estimate Tax ”
7. The system will give the tax payable by you in both old and new regimes simultaneously with detailed analysis .
8. Now you can decide which regime , old or new , is beneficial to you .
9 Try to reduce tax liability by checking whether any other tax deduction you can utilize
Estimating income tax using tool provided by Income tax Department
Go to https://incometaxindia.gov.in/Pages/tools/tax-calculator.aspx
and calculate the estimated income tax liability for the current year.
For the FY 2025-26 , just like in earlier years , you have the option to pay income tax under two regimes
1. Under the new simplified tax regime using newly introduced section 115bac of IT act which has lower rates , but without many tax rebates 2. Using old tax regime which was available in Fy 2019-20 with same tax rates and same tax rebates .
You can decide which one to use at the time of submission of IT Returns for FY 2025-26 , BUT YOU HAVE TO GIVE YOUR CHOICE OF OPTION ( which can be changed later ) to your employer if you are a salaried person or a pensioner.
NOTES :
1. For tax rates and various concessions available under various sections of Income Tax act , CLICK HERE . Verify whether you can utilize any of the concessions and the amount you can invest to avail maximum concession under the each section .
2. While purchasing insurance policy or any other financial instrument like pension plan, mutual fund etc. discuss with the financial advisors / consultants / agents etc who are selling the product regarding the tax concessions available specifically for the instrument in question and reconfirm by going to the website of the issuer .Some advisors/consultants who have their interest in selling these products may mis-inform you about the concessions available .
3. Verify such concessions are useful to your tax plan and you can make use of such concession for the present year .
4. Beware of the instruments like unit linked policies , ELSS etc which are linked to market performance . Such instruments will perform only when stock markets. perform . Some times long terms returns are shown with illustrative rates which may look lucrative . Please remember that those rates are only illustrative and the such returns may become illusive if Net Asset Value ( NAV ) does not grow and if sellers do not guarantee the return . Know the risks of investing in such high risk products .
5. If instruments warrant repetitive payments say monthly or annually , please check your financial position about affordability of the product for you for long term .
6. After making all the payments and investments and after getting the total income correctly calculated , you can go again to the income tax Dept site and arrive final tax liability .
7. If you are eligible to submit form 15H or 15G to the banks, do it well in time, preferably at the beginning of the financial year or immediately now , for avoiding TDS on interest paid by the bank. 8. Keep the records of all your financial transactions. Money borrowed from friends , Jewelry inherited/purchased, Gifts received, wedding expenditures, cash remitted to your account etc can be questioned by IT officers and can be taxed up to 83 % of the value if IT Officer is not satisfied about your explanation . As per amended section 115BBE , an assessing officer can invoke 60 % tax ,15 % surcharge ,4 % cess with an added penalty of 10 % .To avoid such a hefty tax payment, keep records of your transactions to enable yourself to explain the sources of your funds.
9. For authentic details of all the matters relating to Income tax ,go to the website of Income Tax Department ,Government of India :http://www.incometaxindia.gov.in/
THIS ARTICLE CARRIES INFORMATION ON VARIOUS TAX PROVISIONS WHICH ARE GENERALLY USEFUL .YET IT DOES NOT CARRY ALL THE PROVISIONS AND HENCE YOU ARE ADVISED TO GO THROUGH INCOME TAX DEPARTMENT WEBSITES FOR AUTHENTIC COMPLETE INFORMATION , ESPECIALLY FOR THOSE WHO HAVE GOT MULTIPLE STREAMS OF INCOME OR COMPLEX INVESTMENTS . YOU MAY ALSO CONSULT A QUALIFIED TAX CONSULTANT / CHARTERED ACCOUNTANT FOR ANY CLARIFICATION. READERS ARE ALSO WELCOME TO SEND FEEDBACK , FORM AVAILABLE BELOW . WE ARE OPEN FOR CORRECTION IF NEEDED