Income Tax & Advance Tax Calculators

Under the new regime for FY 2025-26 (AY 2026-27): ₹0–3L at 0%, ₹3–7L at 5%, ₹7–10L at 10%, ₹10–12L at 15%, ₹12–15L at 20%, above ₹15L at 30%. A standard deduction of ₹75,000 is available for salaried individuals. The rebate under Section 87A is available for income up to ₹12L, making effective tax zero for many salaried taxpayers.

Old regime slabs: ₹0–2.5L at 0%, ₹2.5–5L at 5%, ₹5–10L at 20%, above ₹10L at 30%. Senior citizens (60–80) get a basic exemption of ₹3L; super seniors (80+) get ₹5L. The 87A rebate in the old regime applies only if total income is below ₹5L.

Any individual whose total estimated tax liability for the year exceeds ₹10,000 must pay advance tax in installments. This applies to freelancers, self-employed professionals, business owners, and salaried individuals with significant non-salary income (e.g., capital gains, rent). Salaried employees whose entire tax is covered by employer TDS generally don't need to pay advance tax.

Advance tax for FY 2025-26 is payable in four instalments: 15% by June 15, 45% by September 15, 75% by December 15, and 100% by March 15, 2026. Taxpayers under presumptive taxation (44AD/44ADA) pay 100% in a single instalment by March 15.

Section 44ADA is a presumptive taxation scheme for specified professionals (doctors, lawyers, architects, engineers, IT consultants, etc.) with gross receipts up to ₹75 lakh (₹50 lakh until AY 2024-25). Under 44ADA, 50% of gross receipts is deemed as net profit — no separate expense maintenance needed. The remaining 50% is tax-free. Freelancers who opt for 44ADA pay advance tax in a single instalment by March 15.

Section 234B applies when advance tax paid by March 31 is less than 90% of total tax liability — interest at 1% per month on the shortfall. Section 234C applies to shortfalls in quarterly instalments (June, September, December) — 1% per month on the shortfall amount for 3 months per quarter. The Advance Tax Calculator estimates both penalties based on your inputs.

The new regime is generally better if you have limited deductions. The old regime can save tax if your 80C investments, home loan interest, HRA exemption, and 80D premiums together exceed roughly ₹3.75L–₹4.5L. Use the Income Tax Calculator to get a side-by-side comparison for your specific numbers — the calculator shows the exact saving and recommends a regime automatically.

Salaried employees get a flat ₹75,000 standard deduction under the new regime and ₹50,000 under the old regime for FY 2025-26. This is auto-applied in the Income Tax Calculator when you enter salary income.

Only about 7–8 crore Indians (roughly 5% of the population) file income tax returns. Of those, about 3–4 crore have taxable income above the basic exemption limit. This means filing a tax return and having tax liability places you in a very small segment of India's earners.