Calculate Your Income Tax Online for 2024-25 & 2025-26
Filing income tax is a crucial responsibility for every earning individual in India. With the government streamlining the process through digitization, calculating your income tax online for Assessment Years 2024-25 and 2025-26 has become quick, accurate, and convenient.
The Income Tax Department of India provides a free online income tax calculator on its official website www.incometax.gov.in. This tool helps taxpayers estimate their tax liability based on their income, deductions, and chosen tax regime—either the old regime with exemptions or the new regime with lower slab rates but no exemptions.
How To Calculate Your Income Tax Online ?
Online Income Tax Calculators are also available on the following Links/Websites:
To calculate your tax, enter your annual income (from salary, business, rent, etc.), applicable deductions under sections like 80C, 80D, HRA, or interest on home loans, and your age category (as senior citizens enjoy higher exemption limits). The calculator instantly displays your total taxable income and estimated tax liability.
For FY 2024-25 and FY 2025-26, the new tax regime is the default option, offering lower tax rates with fewer exemptions. However, taxpayers can opt for the old regime while filing returns, depending on which offers better tax savings.
Using online tax calculators helps you:
- Avoid manual errors
- Save time
- Compare old vs new regimes effectively
- Plan investments and tax-saving strategies
Additionally, many third-party financial platforms also provide income tax calculators with advanced features, including HRA breakdowns, multiple income sources, and pension or gratuity inputs.
In summary, calculating your income tax online is not only simple but also empowers you to make informed financial decisions. Ensure you have your income details and deductions ready, and take advantage of the free tools available to accurately estimate and file your taxes on time.
Read Also:
OLD or NEW: Which Tax Regime is Better For You? – News4You
How to make maximum profit with minimum investment from the Stock Market ? – MoneyInsight
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How to make money from share market? (indiatimes.com)
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