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 Income AHALTS IncomeTax Calculator comes in. It simplifies manual calculations without the need for in-depth knowledge of tax laws.

What is the Income Tax Calculator?

The AHALTS 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 section, 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.

How to Use the Income Tax Calculator for FY 2024-25 (AY 2025-26) and FY 2025-26 (AY 2026-27)?

Following are the steps to use the tax calculator:

Step 1: Choose the financial year for which you want your taxes to be calculated.

Step 2: Select your age accordingly. Tax liability under the old regime differs based on the age groups.

Step 3: Click on ‘Continue’

Step 4: Enter your salary, i.e. salary before deducting various exemptions such asHRA 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.

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.

Step 6: For Income from Digital Assets, enter the net income (Sale consideration (-) Cost of Acquisition).

Step 7: Click on ‘Continue’ again.

Step 8: You can also enter your tax-saving investments under sections 80C, 80D, 80G, 80E, and 80TTA, if applicable to your case.

Step 9: Click on ‘Calculate’ to calculate your tax liability. You will be able to compare the old and new tax regimes.

What are the Income Tax Slab Rates for FY 2024-25 and FY 2025-26?

The income tax slab rates for both old and new regimes for FY 2024-25 and FY 2025-26 are given below:

• Income Tax Slab Rates under the new regime for FY 2025-26:

Note: No income tax for income up to Rs. 12 Lakhs. This is because of a rebate applicable to the new regime, which is Rs. 60,000. But rebates are not applicable for special tax income.

Popular Calculators

• Interest Calculator
• Income Tax Calculator
• Gratuity Calculator
• SIP Calculator
• PF Calculator
• HRA calculator
• Salary Calculator
• PPF Calculator
• RD Calculator
• SWP Calculator
• Compound Interest Calculator
• Mutual Fund Calculator
• ROI Calculator
• NPS Calculator
• Discount Calculator
• FD Calculator
• Lumpsum Calculator
• Down Payment Calculator
• Retirement Planning Calculator