Income Tax Calculator — Wealthlook (FY 2025–26)
Compare Old & New Tax Regimes Instantly
Income Details
Deductions (Old Regime)
📊 Your Results
Income Tax Calculator India (FY 2025–26): Everything You Need to Know
Calculating your income tax in India can feel overwhelming due to various tax slabs, exemptions, and deductions. To make things easy, Wealthlook brings you this free, accurate, and easy-to-use Income Tax Calculator India FY 2025–26 to help you calculate your tax liability instantly.
What is an Income Tax Calculator?
An Income Tax Calculator is a simple online tool that helps you estimate your tax payable based on your annual income, eligible deductions, and age group. Enter your salary, HRA, deductions under sections like 80C, 80D, and the calculator shows your tax in seconds.
Why Use Wealthlook’s Income Tax Calculator?
- ✅ Completely free & instant
- ✅ Updated with FY 2025–26 rules
- ✅ Works for salaried, pensioners, and self-employed individuals
- ✅ Helps you plan investments & optimize tax savings
- ✅ No registration required
How Does It Work?
- Enter your gross salary income
- Add income from other sources and rental income
- Include your deductions under 80C, 80D, HRA, etc.
- Select your age group
The calculator then displays your taxable income and estimated tax payable with a breakdown.
Income Tax Slabs for FY 2025–26
Old Regime
| Income Range (₹) | Tax Rate |
|---|---|
| Up to ₹2.5 lakh | Nil |
| ₹2.5 lakh – ₹5 lakh | 5% |
| ₹5 lakh – ₹10 lakh | 20% |
| Above ₹10 lakh | 30% |
New Regime
| Income Range (₹) | Tax Rate |
|---|---|
| Up to ₹3 lakh | Nil |
| ₹3 lakh – ₹6 lakh | 5% |
| ₹6 lakh – ₹9 lakh | 10% |
| ₹9 lakh – ₹12 lakh | 15% |
| ₹12 lakh – ₹15 lakh | 20% |
| Above ₹15 lakh | 30% |
Old Regime vs New Regime: Which is Better?
With the New Regime in place, taxpayers can now choose between the Old Regime and the New Regime. Here’s how they compare:
🧾 Old Regime
- ✅ Higher tax rates
- ✅ Allows deductions & exemptions (80C, 80D, HRA, etc.)
- ✅ Best if you have significant investments & deductions
💰 New Regime
- ✅ Lower tax rates
- ❌ Fewer deductions & exemptions (only standard deduction remains)
- ✅ Simpler filing
- ✅ Best if you don’t invest much in tax-saving instruments
| Criteria | Old Regime | New Regime |
|---|---|---|
| Deductions | Allowed | Mostly Not Allowed |
| Tax Rates | Higher | Lower |
| Best For | High investments | Minimal investments |
📌 Tip: If your deductions are more than ~₹2.5–3 lakh, Old Regime is usually better. Otherwise, New Regime saves more tax.
Key Deductions Available
- Standard Deduction: ₹50,000 (₹75,000 for seniors)
- Section 80C: Up to ₹1.5 lakh
- Section 80D: Health insurance premium (₹25k–₹50k)
- HRA: if living in rented house
- Home Loan Interest: Up to ₹2 lakh
FAQs: Income Tax Calculator India
Q1: What is an Income Tax Calculator?
A tool to estimate your tax based on income & deductions.
Q2: Is it updated for FY 2025–26?
✅ Yes, updated per Union Budget 2025–26.
Q3: Does it include cess & surcharge?
🚀 No, add 4% cess manually.
Q4: Who can use it?
Anyone — salaried, self-employed, or pensioner.
Q5: Which regime is better?
Depends on your deductions — calculator shows Old Regime for now.
Q6: Is pension taxable?
✅ Yes, but standard deduction applies.
Q7: Are NRIs taxed?
Only on income earned/accrued in India.
Q8: What incomes are tax-free?
PPF interest, EPF (after 5 yrs), agricultural income, etc.
Q9: Max 80C deduction?
₹1.5 lakh
Q10: Can I claim both HRA & home loan?
✅ Yes, if eligible for both.