How to calculate tax as Income & Tax Calculator on e-Filing website is giving wrong results.

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A user is encountering incorrect tax calculations on the official e-Filing website's Advanced Calculator for the Financial Year 2024-25 (Assessment Year 2025-26). They are seeking expert advice on how to accurately calculate their tax liability, including Short-Term Capital Gains (STCG), Long-Term Capital Gains (LTCG) from various mutual funds, interest income, and deductions under the old tax regime for a senior citizen.

Jagjeet Sharma

Jagjeet Sharma (Querist)
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17 January 2025 The Advanced Calculator at Income Tax website (https://eportal.incometax.gov.in/iec/foservices/#/TaxCalc/calculator) appears producing wrong calculation pertaining to income details for FY 2024-25 (AY 2025-26).

I request all experts to please guide me how to calculate tax in case of following example, as there is no reliable and publicly available tax calculator online.

Tax regime: Old tax regime
Assessment year: 2025-26
Taxpayer category: Individual
Residential status: Resident
Age: Between 60-79 years (Senior Citizen)

Following capital gains realized on or after 23-07-2024:

1. STCG from Equity mutual funds: Rs. 2,48,000
2. STCG from Non-Equity mutual funds: 1,42,000
3. LTCG from Equity mutual funds: Rs. 1,91,000
4. LTCG from Non-Equity mutual funds: Rs. 2,25,000

FD/Savings Interest: Rs. 2,34,000

Total deductions (u/s 80C and 80TTB): Rs. 2,00,000