calc / tax / IT

Income Tax Calculator

Slab-wise tax under both regimes, the rebate and surcharge applied the way the ITR utility does it — and, unusually for a calculator, what filing late or under-paying advance tax actually costs.

Your tax, FY 2025-26 AY 2026-27 · indicative

New regime (default)

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Old regime

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Better choice

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§1How the tax is built

taxable = gross − standard deduction − (old regime only: your deductions) slab tax: each slice of income taxed at its own rate — the working above 87A rebate: new regime — taxable ≤ ₹12,00,000 → tax is zero old regime — taxable ≤ ₹5,00,000 → tax is zero surcharge: 10% above ₹50L · 15% above ₹1cr · 25% above ₹2cr (marginal relief applies) cess: 4% health & education on (tax + surcharge)

Worked example — ₹16 lakh salary, new regime

taxable = 16,00,000 − 75,000 = 15,25,000 0–4L nil · 4–8L @5% = 20,000 · 8–12L @10% = 40,000 · 12–15.25L @15% = 48,750 tax 1,08,750 + 4% cess = ₹1,13,100

The same person in the old regime with ₹2 lakh of deductions pays about ₹2,10,600 — the new regime wins by nearly a lakh unless deductions are far larger. The crossover for most salaried people sits around ₹4–4.5 lakh of genuine old-regime deductions.

§2What filing late costs — the part calculators skip

Section 234F late-filing fee: ₹5,000 flat (₹1,000 if total income ≤ ₹5L) Section 234A 1% simple interest per month (or part) on unpaid tax, from the due date to the day you file Section 234B if TDS + advance tax < 90% of liability: 1% per month on the shortfall, counted from 1 April of the assessment year Section 234C staged interest for missing advance-tax instalments during the year

Set the filing date above past the due date and the panel computes 234F and the 234A/234B interest on your numbers. Part of a month counts as a full month — filing on the 1st of the next month already costs a month of interest.

§3The gotchas

The ₹12 lakh rebate has a cliff — softened by marginal relief

At ₹12,00,000 taxable the new-regime tax is zero; at ₹12,10,000 the slab tax would be ~₹61,500. Marginal relief caps it at the ₹10,000 you earned over the line — but the relief fades out by about ₹12.75 lakh, after which the full slab tax applies.

A belated return forfeits more than the fee

File after the due date and you lose the right to carry forward capital and business losses, and interest on any refund shrinks. The belated window itself closes 31 December; after that only an updated return (ITR-U) remains — at 25–70% additional tax depending on how late.

The new regime is the default now

Since FY 2023-24 the new regime applies unless you opt out. Salaried people can switch each year while filing; business income gets essentially one switch back. If your employer deducted TDS on the wrong regime, the return trues it up — but cash-flow-wise you funded the difference all year.

This is the simple case

Capital gains tax at special rates, more than one house property, foreign assets or ESOPs all change the working. Treat this as the planning number; the ITR utility computes the filing number.

§4Related