Income Tax Calculator - FY 2025-2026

Calculating income tax can be complex, especially when considering deductions, exempt allowances, and income from various sources. For those unfamiliar with the Income Tax Act, it can be challenging to calculate tax liabilities based on applicable slab rates. That's where the Lawgical Station Income Tax Calculator comes in. It simplifies manual calculations without the need for in-depth knowledge of tax laws.

What is the Income Tax Calculator?

The Lawgical Station Income Tax Calculator is a simple and easy-to-use online tool designed to calculate your tax liability in detail, according to the provisions and rules of the Income Tax Act 1961. It enables you to compare your tax liability between the old and new tax regimes, making choosing the more beneficial option easier. It's especially useful if you do not understand the sections, provisions and technical aspects of the government's income tax filing portal. Our calculator has been updated in line with tax changes proposed in the Union Budget 2025. You can plan your taxes and tax liability for relevant financial years more effectively and make informed financial decisions.

Following are the steps to use our tax calculator:

1. Step 1: Choose the financial year for which you want your taxes to be calculated.
2. Step 2: Select your age accordingly. Tax liability under the old regime differs based on the age groups.
3. Step 3: Click on 'Continue'
4. Step 4: Enter your salary, i.e. salary before deducting various exemptions such as HRA and so on. If LTA deduction is applicable to you, reduce it from salary and enter the net figure. There is a field available for exempt allowances. Enter the particulars if it applies to your case.
5. Step 5: Along with taxable salary, you must enter other details such as interest income, rental income, interest paid on home loan for rented, and interest paid on loan for self-occupied property.
6. Step 6: For Income from Digital Assets, enter the net income (Sale consideration (-) Cost of Acquisition).
7. Step 7: Click on 'Continue' again.
8. Step 8: You can also enter your tax-saving investments under sections 80C, 80D, 80G, 80E, and 80TTA, if applicable to your case.
9. Step 9: Click on 'Calculate' to calculate your tax liability. You will be able to compare the old and new tax regimes.

If your income exceeds a certain threshold, you will incur additional taxes on top of the existing rates. This additional tax specifically targets high-income earners.

Surcharge Rates:

• • 10% of Income tax if total income > ₹50 lakh and < ₹1 crore
• • 15% of Income tax if total income > ₹1 crore and < ₹2 crore
• • 25% of Income tax if total income > ₹2 crore and < ₹5 crore
• • 37% of Income tax if total income > ₹5 crore

Note: The highest surcharge rate of 37% has been reduced to 25% under the new tax regime.

Additional Health and Education cess at the rate of 4% will be added to the income tax liability.