Free Income Tax Calculator

What Is the Income Tax Calculator?

The EzyToolz Income Tax Calculator helps you estimate your income tax liability for FY 2025-26 (AY 2026-27) in under a minute. Enter your annual income, select your tax regime, and add any applicable deductions — the tool instantly calculates your tax payable under both the new regime and the old regime side by side, so you can see which one saves more money before filing your ITR.

The calculator covers all major deduction sections — HRA exemption, Section 80C investments, Section 80CCD(1B) NPS contributions, Section 80D health insurance premiums, and home loan interest under Section 24(b). It also applies the Section 87A rebate automatically, handles surcharge for higher income levels, and adds the 4% health and education cess — giving you the final tax payable figure, not just a raw slab calculation.

Who Should Use This Calculator?

Salaried employees evaluating whether to stay in the new regime or opt for the old regime for FY 2025-26 — especially those with a home loan, HRA, or significant 80C investments.

Freelancers and self-employed professionals estimating advance tax liability for the year to avoid interest under Section 234B and 234C.

Senior citizens and super senior citizens who have different basic exemption limits under the old regime and want to see the actual difference in tax outgo.

First-time taxpayers who want to understand how income tax slabs, deductions, and rebates work before filing their first return.

Key Features

• New vs Old Regime comparison — calculates and displays tax under both regimes simultaneously, so you don’t have to run two separate calculations
• HRA exemption calculator — built-in HRA tool that computes the exempt amount based on basic salary, actual HRA received, rent paid, and city type
• All major deductions — 80C, 80CCD(1B), 80D (self + parents), Section 24(b) home loan interest, and other eligible deductions
• Age-based calculation — applies correct old-regime exemption limits for individuals below 60, senior citizens (60–79), and super senior citizens (80+)
• Section 87A rebate — automatically applied; zero tax for taxable income up to ₹12 lakh under new regime, ₹5 lakh under old regime
• Surcharge and cess — health and education cess of 4% added; surcharge applied for income above ₹50 lakh
• Print summary — download or print your tax summary for reference

How to Use the Income Tax Calculator

Step 1 — Select financial year: Choose FY 2025-26 (AY 2026-27).

Step 2 — Select age group: Below 60, Senior Citizen (60–79), or Super Senior (80+). Age affects the old regime exemption limit.

Step 3 — Select tax regime: New Regime is the default. Switch to Old Regime if you want to check deduction-based calculations.

Step 4 — Enter gross annual income: Your total income before any deductions — salary, rental income, interest income, or business income.

Step 5 — Enter deductions (for old regime): Fill in HRA details if applicable, then add 80C investments, NPS contributions, health insurance premiums, home loan interest, and any other deductions.

Step 6 — Click Calculate Tax: The tool shows your net taxable income, deductions applied, final tax payable, and a quick comparison of both regimes.

Income Tax Slabs for FY 2025-26

New Tax Regime (Default)

Section 87A rebate makes tax nil for net taxable income up to ₹12 lakh. Standard deduction of ₹75,000 for salaried and pensioned individuals — effective tax-free gross income is ₹12.75 lakh.

Old Tax Regime (Optional)

4% health and education cess applies on total tax. Surcharge applicable for income above ₹50 lakh.

FAQ (Frequently Asked Questions)

These calculations are based on Finance Act 2025 provisions. Tax laws are subject to change. For official filings and personalized tax advice, consult a chartered accountant or visit incometax.gov.in.