Income Tax Calculator & Computation Chart Creator

Disclaimer: This tool is for estimation purposes only. Tax laws are complex and subject to change. Always consult a qualified tax professional before filing your income tax returns.
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Basic Information

New vs Old Regime

New Regime: Lower tax rates but fewer deductions (Default for AY 2025-26).

Old Regime: Higher tax rates but allows more deductions (Chapter VI-A deductions).

Note: Senior citizens (60+) may benefit more from the old regime due to higher exemptions.

Personal Details

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Senior Citizen Status

Age will be calculated from your Date of Birth. Senior citizens (60+ years) and super senior citizens (80+ years) are eligible for additional tax benefits under the old regime.

Salary Income

HRA Exemption Calculation

Actual HRA exemption is the minimum of:

  1. Actual HRA received
  2. Rent paid minus 10% of salary
  3. 50% of salary (for metro) or 40% (for non-metro)
Compliance Note: HRA exemption is not available under the new tax regime (Section 115BAC)

Standard Deduction

A standard deduction of ₹50,000 is available under both tax regimes as per Section 16(ia).

House Property Income

Property Income Calculation

Net Annual Value (NAV) = Annual Value - Municipal Taxes

Standard Deduction = 30% of NAV

Home Loan Interest deduction limits: ₹2,00,000 for self-occupied property

Compliance Note: Loss from house property can be carried forward for 8 assessment years

Capital Gains

Capital Gains Tax Rates

  • Equity STCG (Sec 111A): 15% (Holding <12 months)
  • Equity LTCG (Sec 112A): 10% over ₹1,00,000 (Holding >12 months)
  • Other LTCG: 20% with indexation
  • Non-equity STCG: Taxed at slab rates
Compliance Note: Exemptions under Section 54/54F reduce the capital gain amount, not the tax

Short Term Capital Gains (STCG)

Long Term Capital Gains (LTCG)

Other Income & Deductions

Income from Other Sources

Compliance Note: Dividend income is taxable under both regimes

Deductions (Old Regime Only)

Compliance Note: Not available under new regime

Tax Payments

Tax Calculation & Summary

Calculation Methodology

Tax calculation complies with Income Tax Act, 1961 and latest Finance Act provisions.

Health & Education Cess: 4% on income tax + surcharge (if applicable).

Surcharge applied on income above ₹50 lakh as per Section 113A.

All calculations rounded to nearest ₹10 as per Section 288B.