Jai Prakash & Co

Chartered Accountants

Office: 1st Floor, S-26, Civil Township, Rourkela Phone: 9437047514 / 7008551023 • Email: jaiprakashco@yahoo.co.in

Tax Computation Tool

Income Details

Basis of Computation, Assumptions & Statutory References tap to expand

Rates Applied

FY 2025-26 (AY 2026-27) rates per the Finance Act, 2025. New regime is the default under Sec 115BAC.
FY 2026-27 (AY 2027-28): Union Budget 2026 made no change to slab rates; the same rates continue. The Income-tax Act, 2025 takes effect from 1 April 2026.
New-regime rebate u/s 87A up to ₹60,000 (nil tax up to ₹12,00,000); old-regime rebate up to ₹12,500 (nil up to ₹5,00,000). Marginal relief is applied.
Health & Education Cess @ 4% on (tax + surcharge) for all assessees.

Surcharge

Individual / HUF: 10% (>₹50L), 15% (>₹1Cr), 25% (>₹2Cr); 37% (>₹5Cr) under old regime only — capped at 25% under new regime.
Surcharge on income u/s 111A / 112 / 112A and dividend is capped at 15%. Marginal relief on surcharge is built in.
Firm / LLP: 12% if income > ₹1 Cr. Company (normal): 7% (₹1–10 Cr), 12% (>₹10 Cr). 115BAA / 115BAB: flat 10%.

Capital Gains (post 23 Jul 2024)

STCG u/s 111A (listed equity / equity MF, STT paid): 20%.
LTCG u/s 112A: 12.5% on gains exceeding ₹1,25,000 p.a. (no indexation).
Other LTCG u/s 112: 12.5% without indexation. Sec 87A rebate is not available against special-rate income.

Advance Tax — FY 2026-27

Payable where net liability after TDS/TCS is ₹10,000 or more (Sec 404). Resident senior citizens (60+) without business/profession income are exempt.
Instalments: 15% by 15 Jun, 45% by 15 Sep, 75% by 15 Dec, 100% by 15 Mar 2027 (Sec 408). Presumptive (44AD/44ADA): 100% by 15 Mar 2027.
Shortfall attracts interest @ 1% p.m. u/s 424 / 425 (earlier Sec 234B / 234C).

Disclaimer. This calculator is a planning aid that produces an estimate of income-tax liability based on the figures entered and the rates in force as on the date of preparation. It is not a substitute for a detailed computation under the Income-tax Act, 1961 / Income-tax Act, 2025. Set-off and carry-forward of losses, MAT/AMT (Sec 115JB / 115JC), clubbing provisions, special incomes other than those listed, HRA/LTA computation, relief u/s 89/90/91, AMT credit, presumptive thresholds and similar provisions are not exhaustively modelled and must be verified case-by-case. Figures should be independently reviewed before filing or submission to any authority. © Jai Prakash & Co, Chartered Accountants.

Jai Prakash & Co · Chartered Accountants · Rourkela
9437047514 / 7008551023 · jaiprakashco@yahoo.co.in

Prepared by CA Chetan Agrawal, FCA