Question 1

Is income tax zero up to Rs.12 lakh in 2025-26?

Accepted Answer

Under the New Regime for FY 2025-26, with the Rs.75,000 standard deduction and the Section 87A rebate, the effective tax liability is zero for individuals with gross income up to approximately Rs.12.75 lakh.

Question 2

Should I choose New Regime or Old Regime?

Accepted Answer

The New Regime is generally better if your total deductions (80C, 80D, HRA, home loan) are below Rs.3.75 lakh. If you have significant deductions, the Old Regime may save more tax. Use our regime comparison feature to see your exact savings.

Question 3

What is the income tax slab for FY 2025-26?

Accepted Answer

Under the New Regime: 0% up to Rs.4L, 5% from Rs.4-8L, 10% from Rs.8-12L, 15% from Rs.12-16L, 20% from Rs.16-20L, 25% from Rs.20-24L, 30% above Rs.24L. A 4% health and education cess applies on total tax.

Question 4

What deductions can I claim in Old Regime?

Accepted Answer

In Old Regime you can claim: 80C up to Rs.1.5L (PPF, ELSS, LIC), 80D for health insurance, HRA exemption, NPS extra contribution under 80CCD(1B) up to Rs.50,000, home loan interest under Section 24b up to Rs.2L, and standard deduction of Rs.50,000.

Question 5

Is this income tax calculator accurate for filing ITR?

Accepted Answer

This calculator gives a reliable estimate based on standard slab rates and common deductions. However, actual tax liability depends on your specific income sources (salary, capital gains, business income, etc.). Always consult a CA before filing your ITR.

Income Tax Calculator FY 2025-26

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