Income Tax Calculator
Calculate your tax liability with precision
💳 Income Tax Calculation
Gross Total Income:
₹12,00,000
Total Deductions:
₹75,000
Taxable Income:
₹11,25,000
Income Tax:
₹0
Health & Education Cess (4%):
₹0
Total Tax Liability:
₹0 (Tax-Free!)
Net Income (After Tax):
₹12,00,000
💡 FY 2025-26 Update: New tax regime offers standard deduction of ₹75,000 for salaried individuals. Enhanced rebate u/s 87A makes income up to ₹12,00,000 completely tax-free in new regime!
💡 Tax Saving Tips FY 2025-26
- New regime is now the default - choose wisely based on your deductions and investment plans
- Standard deduction of ₹75,000 available for salaried individuals in new regime (₹50,000 in old)
- Maximize Section 80C with EPF, PPF, ELSS investments up to ₹1,50,000 (Old Regime only)
- Health insurance premiums under 80D can save significant tax - up to ₹25,000 for self/family
- NPS offers additional deduction of ₹50,000 under 80CCD(1B) over and above 80C limit
- Compare both regimes carefully - high deductions may make old regime more beneficial
- Senior citizens get higher health insurance deduction of ₹50,000 under Section 80D
- Maintain all investment proofs and receipts for claiming deductions during ITR filing