Estimate your income tax liability and compute Form 16 Part B figures. Covers old and new tax regimes for FY 2025-26.
Understanding Form 16
Form 16 is the TDS certificate your employer gives you every year by June 15. Part A is generated from TRACES and shows the TDS deposited. Part B — which this calculator helps you compute — shows your gross salary, all deductions, and final tax payable.
New Tax Regime Slabs (FY 2025-26)
Income Range
Tax Rate
Up to ₹3,00,000
Nil
₹3,00,001 – ₹7,00,000
5%
₹7,00,001 – ₹10,00,000
10%
₹10,00,001 – ₹12,00,000
15%
₹12,00,001 – ₹15,00,000
20%
Above ₹15,00,000
30%
Old Tax Regime Slabs
Income Range
Tax Rate
Up to ₹2,50,000
Nil
₹2,50,001 – ₹5,00,000
5%
₹5,00,001 – ₹10,00,000
20%
Above ₹10,00,000
30%
Key Deductions (Old Regime)
Section 80C — Up to ₹1.5 lakh (PPF, ELSS, LIC, EPF, home loan principal)
Section 80D — Medical insurance premium (up to ₹25,000; ₹50,000 for senior citizens)
Section 80CCD(1B) — Additional NPS contribution up to ₹50,000
HRA Exemption — Actual HRA, 50%/40% of basic salary, or rent paid minus 10% of basic — whichever is least
Standard Deduction — ₹50,000 (old regime) / ₹75,000 (new regime)
Frequently Asked Questions
Form 16 is a TDS certificate issued by employers. Part A covers TDS deposited with the government. Part B covers gross salary, deductions under Chapter VI-A, and final tax payable. It is required for filing your income tax return.
The standard deduction under the new tax regime is ₹75,000 per year (revised in Budget 2024). Under the old regime, it is ₹50,000 per year.
It depends on your deductions. If you claim ₹3.75 lakh or more in deductions (80C, HRA, NPS etc.), the old regime is usually better. Below that threshold, the new regime saves more tax. Use this calculator to compare both.
The new regime does not allow most exemptions (HRA, LTA, 80C, 80D). You only get the standard deduction of ₹75,000, employer NPS contribution (80CCD(2)), and a few other specific deductions.