Income Tax Calculator India 2026 – ITR Calculator with Deductions & Tax Slabs
Calculate your income tax instantly for FY 2025-26 with new tax regime & old regime comparison. Include Section 80C, 80D, 80E deductions. Check tax liability, refund eligibility, effective tax rate. Updated with latest ITR forms, HRA exemption, & LTCG tax.
Updated for 2026
Income Details
Deductions
✓ Last updated: March 2026 | Built with CRA-official rates, Bank of Canada data, and OSFI guidelines
How to Use This Calculator
Provide your total annual income from all sources.
Enter 80C, 80D, 80E, Section 24, and other deductions.
Compare Old vs New Regime to see which saves you more tax.
See tax liability, effective rate, and recommended regime.
Understanding Your Results
- Taxable IncomeIncome minus all eligible deductions (80C, 80D, HRA, etc.).
- Effective Tax RateThe average percentage of your total income paid as tax.
- Recommended RegimeThe regime that results in lower tax liability for your specific profile.
Key Tips
- ✓Maximize 80C deductions – ₹1.5L saves ₹45,000 at 30% slab.
- ✓Section 80D health insurance premiums are an easy deduction – don't miss it.
- ✓Section 24 home loan interest is often overlooked – claim up to ₹2L.
- ✓New Regime is better if deductions are <₹2.5L. Old Regime is better if deductions are high.
- ✓File your ITR on time – penalties for late filing are ₹5,000-10,000.
Related Calculators
Understanding Income Tax in India 2026
Income Tax Slabs 2026
Old Regime: 0-2.5L (0%), 2.5-5L (5%), 5-10L (20%), 10L+ (30%). New Regime: 0-3L (0%), 3-7L (5%), 7-10L (10%), 10-12L (15%), 12-15L (20%), 15L+ (30%).
Key Deductions
Section 80C (₹1.5L): EPF, PPF, ELSS, LIC. Section 80D (₹25K-50K): Health insurance. Section 24 (₹2L): Home loan interest. Section 80E: Education loan interest (no limit).
Old vs New Regime
Old Regime: Higher rates but many deductions. New Regime: Lower rates but no deductions. Choose based on your investment and deduction habits.
Tax Refund and Owing
If TDS deducted > actual tax liability, you get a refund. If TDS < actual tax liability, you owe tax. File ITR to claim refund or pay tax.
Income Tax Example: ₹10L Income
₹10L income with ₹1.5L 80C and ₹25K 80D deductions.
- Income
- ₹10,00,000
- 80C
- ₹1,50,000
- 80D
- ₹25,000
- Senior Citizen
- No
- Taxable Income (Old)
- ₹7,75,000
- Taxable Income (New)
- ₹9,75,000
- Tax (Old)
- ₹80,000
- Tax (New)
- ₹1,15,000
- Recommended Regime
- Old Regime (Saves ₹35,000)
Frequently Asked Questions
Clear answers to common questions to help you use this calculator confidently.
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