Income Tax Calculator - Plan Your Taxes
Estimate your income tax liability for FY 2025-26 under old or new regimes. Perfect for Karur residents to plan taxes with Twins Consultancy’s guidance.
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What’s This?
The Income Tax Calculator estimates your tax liability for FY 2025-26 under the old or new tax regimes. It accounts for standard deductions, Section 80C/80D deductions (old regime only), and Section 87A rebates, helping Karur residents plan their taxes.
How to Use
1. Enter your annual income.
2. Check the standard deduction box if salaried.
3. Select other deductions (e.g., Section 80C) for the old regime.
4. Choose the new or old tax regime.
5. Click "Calculate Tax" to see your tax breakdown.
6. Fill the lead form to connect with us via WhatsApp for expert advice.
How It Works
The calculator applies tax slabs for FY 2025-26 (new: ₹3L-₹15L, 0-30%; old: ₹2.5L-₹10L, 0-30%), deducts standard and other deductions (old regime only), and applies Section 87A rebates. It provides a detailed breakdown and a toggleable slab table.
Top 20 FAQs
What is the new tax regime?
The new regime for FY 2025-26 offers lower tax rates but fewer deductions, with slabs from ₹3L to ₹15L.
What is the old tax regime?
The old regime allows deductions (e.g., 80C, 80D) with slabs from ₹2.5L to ₹10L.
Who should use the new regime?
Those with minimal deductions may benefit from the new regime’s lower rates.
Can I switch regimes yearly?
Yes, salaried individuals can choose between regimes each financial year.
What is Section 87A rebate?
A rebate of up to ₹12,500 for incomes up to ₹7L (new) or ₹5L (old).
What is standard deduction?
A ₹50,000 deduction for salaried individuals in the old regime.
How accurate is this calculator?
It provides estimates based on FY 2025-26 slabs; consult a tax professional for exact figures.
What is Section 80C?
Allows up to ₹1.5L deduction for investments like LIC, PPF in the old regime.
What is Section 80D?
Allows up to ₹25,000 deduction for medical insurance premiums in the old regime.
Is standard deduction for all?
No, it’s only for salaried individuals in the old regime.
How does income affect tax?
Higher income pushes you into higher tax slabs, increasing liability.
Are deductions available in the new regime?
No, except for a few like employer NPS contributions.
What is taxable income?
Income after applying deductions in the old regime or total income in the new regime.
Can I use this for business income?
Yes, but business-specific deductions are not included.
What if I miss deductions?
You may pay higher taxes; consult an advisor to maximize deductions.
How to reduce tax liability?
Use deductions in the old regime or opt for the new regime if deductions are low.
Is this suitable for seniors?
Yes, but senior-specific exemptions are not included.
Do I need to file ITR?
If income exceeds ₹2.5L (old) or ₹3L (new), filing is mandatory.
When to file taxes?
By July 31, 2026, for FY 2025-26, unless extended.
Can I claim HRA?
HRA is not included in this calculator; use a detailed tax tool or consult an advisor.