Income Tax Calculator

Formula

• Taxable income = Salary − Standard deduction + Other income − Deductions (old regime)
• Tax = Slab tax − Rebate; Surcharge (with marginal relief); Cess = 4% of (Tax + Surcharge)

Assumptions

• Resident individual. Standard deduction of ₹75,000 (new regime) or ₹50,000 (old regime) is allowed if salary or pension is entered.
• New regime slabs: up to ₹4 lakh nil; ₹4–8 lakh 5%; ₹8–12 lakh 10%; ₹12–16 lakh 15%; ₹16–20 lakh 20%; ₹20–24 lakh 25%; above ₹24 lakh 30%. Rebate up to ₹60,000 where total income does not exceed ₹12 lakh, with marginal relief.
• Old regime: basic exemption ₹2.5 lakh (₹3 lakh at 60–79; ₹5 lakh at 80+); 5% up to ₹5 lakh, 20% up to ₹10 lakh, 30% above. Rebate up to ₹12,500 where total income does not exceed ₹5 lakh.
• Surcharge 10% above ₹50 lakh, 15% above ₹1 crore, 25% above ₹2 crore (old regime 37% above ₹5 crore), with marginal relief. Health and education cess 4%.
• Union Budget 2026 made no change to these slabs.

Official sources

• Income Tax Department — e-filing portal