Quick Summary
The Income Tax Department of India has introduced a new Section 115BAC Tax Calculator in line with the provisions of the Finance Bill 2025. This tool is designed to assist taxpayers in comparing their tax liabilities under the existing tax regime and the new tax regime proposed in the Finance Bill 2025. Key Features of the Section 115BAC Tax Calculator Taxpayer Classification: Users can specify their taxpayer status, such as 'Individual' or 'Hindu Undivided Family (HUF)'. Residential Stat
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FAQ :
The new calculator, based on Section 115BAC, helps taxpayers compare their tax liabilities under the existing tax regime and the new tax regime proposed in the Finance Bill 2025.
Users can specify their taxpayer status (e.g., Individual, HUF), residential status (Resident or Non-Resident), and taxable income excluding income taxed at special rates.
It provides a side-by-side comparison of tax liabilities for the Financial Year 2024-25 (existing rates) and the Financial Year 2025-26 (proposed rates), including surcharges and health & education cess.
The calculator displays potential net tax savings, enabling taxpayers to make informed decisions about opting for the new tax regime under Section 115BAC for the upcoming financial year.
The Income Tax Department of India has introduced this new tax calculator.
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