Income Tax & Salary
Quick answer: The FinTax24 Income Tax Calculator estimates tax liability for FY 2025-26 under both the new (default) and old (Section 80C, 80D, HRA, etc.) tax regimes for Resident Individuals, senior citizens and super-senior citizens. It includes standard deduction of ₹75,000, Section 87A rebate (rebate up to ₹12 lakh) and 4% cess — and surfaces monthly take-home, annual take-home and effective tax rate instantly.
Estimate income tax liability under old and new regimes.
Follow these 5 steps for an accurate result.
Type your gross annual salary (or business / professional income) before any deductions.
Include interest, rental, capital gains and other head-wise income for an accurate total.
Choose between the New (default) regime and the Old regime — the calculator shows both side by side.
Under the old regime, enter Section 80C, 80D, 80CCD(1B), HRA exemption and home-loan interest to reduce taxable income.
Instant breakdown of tax under both regimes, the cheaper option, monthly take-home and effective tax rate.
Quick answers to common questions about income tax calculator.
Most salaried employees with limited deductions save tax under the new (default) regime because of lower slab rates and the higher ₹75,000 standard deduction. The old regime may be cheaper if your Section 80C, 80D, HRA and home-loan interest deductions exceed ₹5-6 lakh. Compare both each year — the calculator gives the answer instantly.
Section 234B of the Income Tax Act charges 1% simple interest per month on any shortfall in advance tax paid — calculated from the date each instalment was due (15 June, 15 September, 15 December, 15 March) to the date of regular assessment or filing, whichever is earlier. It applies when advance tax paid is less than 90% of the assessed tax. The interest is not deductible under Section 40(a)(vi) for businesses.
Under the new regime, resident individuals with total taxable income up to ₹12,00,000 pay zero income tax (full rebate up to ₹25,000). Under the old regime, the rebate limit is ₹5,00,000. The new regime's higher 87A limit is the main reason most salaried taxpayers have switched.
The standard deduction on salary income was raised to ₹75,000 under the new tax regime from FY 2024-25 onwards. The old regime continues with a ₹50,000 standard deduction. The calculator applies the slab-appropriate figure automatically.
Health & Education Cess of 4% is added on top of the income-tax liability. Example: ₹1,00,000 base tax attracts ₹4,000 cess, making the total ₹1,04,000 payable. The FinTax24 calculator includes cess in its final tax number and the effective-rate calculation.
Yes — for taxable incomes above ₹50 lakh, surcharge (10% to 25% based on slab) is computed automatically along with the 4% cess on the increased amount. The calculator applies the surcharge rules from Sections 2(11), 2(13) and 2(14) of the Finance Act.
The result is indicative and assumes the inputs are accurate and complete. For return filing, capital-gains split, foreign-asset disclosures and TDS mismatch handling, consult a FinTax24 expert on WhatsApp before uploading your ITR.
Key sources: Income Tax Department, Finance Act, 2025, CBDT e-filing portal.
Reviewed by FinTax24 Content Team · Review date
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