Free Online Income Tax Calculator | SkyConverterTools

Calculate your income tax liability for FY 2025-26 (AY 2026-27). Compare Old vs New Tax Regime, plan Section 80C deductions, and make informed tax-saving decisions.

Income Details

💡 Did you know? Section 80C allows deduction up to ₹1.5 lakh for investments in EPF, PPF, ELSS, and more.

Tax Liability Comparison

Gross Total Income

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Total Deductions

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Taxable Income

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Income Tax Payable

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Cess (4%)

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Total Tax Liability

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About Income Tax Calculator

About Income Tax Calculator

Our Income Tax Calculator is a comprehensive tool designed to help you estimate your tax liability for FY 2025-26 (Assessment Year 2026-27). It supports both the Old Tax Regime (with deductions) and the New Tax Regime (with lower rates but fewer exemptions).

The calculator considers all major income sources, Section 80C investments, health insurance premiums (80D), HRA exemptions, and other deductions. By comparing both regimes side-by-side, you can choose the one that minimizes your tax outgo.

Whether you're a salaried employee, freelancer, or business professional, this tool helps you plan your taxes efficiently and maximize your savings.

How to Use Income Tax Calculator

  1. Enter your annual salary income and any other income (interest, rental, etc.)
  2. Input your Section 80C investments (EPF, PPF, ELSS, LIC, etc.) - max ₹1.5 lakh
  3. Add Section 80D health insurance premiums paid for self/family
  4. Include other deductions like 80E (education loan), 80G (donations)
  5. Enter HRA exemption amount if you claim House Rent Allowance
  6. Click "Calculate Tax Liability" to see detailed comparison
  7. Toggle between Old and New Regime to compare tax amounts
  8. Use Share button to save or share your calculation

100% free, no registration required. Plan your taxes with confidence!

Use Cases & Who Should Use This Tool

Who Should Use

  • Salaried Employees - Compare Old vs New Regime to choose optimal tax structure for salary income.
  • Self-Employed Professionals - Calculate tax on business/professional income with applicable deductions.
  • Freelancers & Gig Workers - Estimate quarterly advance tax liability and plan cash flow.
  • Tax Planners & Advisors - Help clients optimize Section 80C, 80D, and other deductions.
  • Investors - Plan capital gains and investment strategies with tax implications in mind.
  • Senior Citizens - Calculate tax with higher exemption limits and applicable benefits.
  • HR Professionals - Assist employees in understanding salary structure and tax implications.
  • CA & Tax Consultants - Quick tax calculations for clients during filing season.

Practical Use Cases

  • Tax Regime Comparison - Instantly see which regime saves more tax based on your deduction profile.
  • 80C Investment Planning - Calculate how much more you need to invest to reach ₹1.5 lakh limit.
  • Health Insurance Tax Benefit - Understand tax savings from 80D premiums for self, parents, and family.
  • Advance Tax Estimation - Plan quarterly advance tax payments for self-employed individuals.
  • Salary Restructuring - Evaluate impact of HRA, LTA, and other allowances on tax liability.
  • Year-End Tax Planning - Determine last-minute investments needed to reduce tax outgo.
  • ITR Filing Preparation - Estimate final tax liability before filing income tax returns.
  • New Job Offer Evaluation - Compare tax implications of different salary packages.
✓ Old vs New Regime ✓ Section 80C/80D ✓ HRA Exemption ✓ FY 2025-26 ✓ 100% Free

Frequently Asked Questions

What is the difference between Old Tax Regime and New Tax Regime?

Old Regime has higher tax rates but allows deductions like 80C, 80D, HRA, LTA, etc. New Regime has lower tax rates but disallows most deductions except standard deduction of ₹50,000 and employer's NPS contribution. Our calculator helps you compare both.

What are the tax slabs for FY 2025-26?

New Regime Slabs: Up to ₹3 lakh - Nil, ₹3-7 lakh - 5%, ₹7-10 lakh - 10%, ₹10-12 lakh - 15%, ₹12-15 lakh - 20%, Above ₹15 lakh - 30%. Old Regime: Up to ₹2.5 lakh - Nil, ₹2.5-5 lakh - 5%, ₹5-10 lakh - 20%, Above ₹10 lakh - 30% (with rebate under 87A).

What deductions are allowed under Section 80C?

Section 80C allows deduction up to ₹1.5 lakh for investments in EPF, PPF, ELSS mutual funds, LIC premiums, NSC, Sukanya Samriddhi, tuition fees, home loan principal repayment, and more.

Is HRA exemption included in this calculator?

Yes, you can enter your HRA exemption amount under the Old Regime. HRA exemption is available only in the Old Tax Regime. The New Regime does not allow HRA exemption.

What is Section 80D and how much can I claim?

Section 80D allows deduction for health insurance premiums. Up to ₹25,000 for self/family, additional ₹25,000 for parents (₹50,000 if senior citizens). Total maximum ₹1,00,000 for family with senior citizen parents.

Which tax regime is better for salaried employees?

It depends on your deductions. If you have high 80C investments, HRA, 80D, etc., Old Regime may be beneficial. If you have minimal deductions, New Regime with lower rates may be better. Use our calculator to compare and decide.

What is the rebate under Section 87A?

Under both regimes, if your taxable income is up to ₹7 lakh (New Regime) or ₹5 lakh (Old Regime), you get a rebate of up to ₹25,000, making your tax liability zero. This calculator automatically applies applicable rebates.