Skip to Content
Income Source Details — AY 2026-27 | Taxocount
📋 AY 2026-27 | ITA 1961

Income Tax Calculator & ITR Computation Sheet — AY 2026-27

Calculate your total income & tax liability under both Old and New Tax Regime. Fill in applicable income sources, exemptions and deductions, then download a section-wise PDF summary for ITR filing.

Too many details? Let our expert handle it for you.

Not everyone wants to fill 80+ fields. Share your number — Taxocount's tax expert will call you, figure out which regime saves you more, and file your ITR for you.

Both regimes comparedFree consultationResponse within 30 min
Request received!
Our tax expert will contact you shortly.
Or fill the detailed calculator below
⚠ Mobile number is required (10 digits)
⚠ Email address is required
* Mobile & Email are required to generate your PDF summary
💼

Salary & Pension Income ITR-1ITR-2ITR-3

Section 15–17 | Standard Deduction ₹75,000 (New Regime) / ₹50,000 (Old)

▼
Total HRA received from employer as per salary slip
Leave blank to use full HRA as exempt. Or enter exact exempt as per Form 16: least of actual HRA / rent paid–10% basic / 50% basic (metro) or 40% (non-metro)
Leave blank to use full LTA as exempt. Or enter exact exempt as per Form 16 (actual travel cost, 2 journeys in 4-yr block)
Max ₹2,500 — deductible under old & new regime
Exempt Allowances under Sec 10: Children Education Allowance (₹100/child/month × 2), Hostel Allowance (₹300/child/month × 2), Transport Allowance for disabled (₹3,200/month), Uniform Allowance (actual), Research Allowance (actual). Enter only taxable portion in "Other Allowances" above.
🏠

House Property Income ITR-1ITR-2ITR-3

Section 22–27 | Self-occupied, Let-out & Deemed Let-out

▼
Property 1
0 for SOP; actual rent for Let-Out
SOP: max ₹2L deductible. Let-out: no limit (old regime). New regime: no deduction for SOP.
Section 24(a): Standard deduction of 30% of Net Annual Value (NAV) allowed automatically — no need to enter. NAV = ALV − Municipal Taxes. Section 54/54F: Capital gains on sale of residential house — enter in Capital Gains section.
📈

Capital Gains ITR-2ITR-3

Section 45–55A | Equity, Mutual Funds, Property, Gold, Debt

▼
Short-Term Capital Gains (STCG)
Tax Rate: 20% (w.e.f. 23 Jul 2024)
Added to total income, taxed at slab rate
Treated as business income — enter in Business section too
Long-Term Capital Gains (LTCG)
Tax: 12.5% on gains above ₹1.25L (w.e.f. 23 Jul 2024). Gains up to ₹1.25L exempt.
Tax: 12.5% without indexation (new rule). Previously 20% with indexation.
Debt MF purchased after 1 Apr 2023: taxed at slab rate regardless of holding period
Exemptions on Capital Gains
LTCG on old house reinvested in new house (max 2 houses). Hold ≥ 3 years.
Max ₹50L, within 6 months of transfer. Lock-in 5 years.
Grandfathered gains up to ₹1.25L per year are exempt
🏭

Business & Professional Income ITR-3ITR-4

Section 28–44ADA | PGBP Income & Presumptive Taxation

▼
8% of turnover (cash) or 6% (digital). Turnover must be ≤ ₹3 crore.
50% of gross receipts. Receipts must be ≤ ₹75 lakh.
Speculative loss can only be set off against speculative income
Business loss can be c/f for 8 years. Requires timely ITR filing.
💰

Income from Other Sources ITR-1ITR-2ITR-3

Section 56–59 | Interest, Dividends, Gifts, Lottery, Online Games

▼
Deduction u/s 80TTA: ₹10,000 (non-senior) or 80TTB: ₹1L (senior)
Fully taxable at slab rate; TDS @ 10% if PAN given
FULLY EXEMPT — No tax. Do not add to taxable income.
Taxable at slab rate since FY 2020-21. TDS @ 10% if > ₹5,000.
Taxable if aggregate > ₹50,000 from non-relatives. Gifts from relatives: EXEMPT.
Taxable at flat 30% on net winnings from online games w.e.f. 1 Apr 2023
Flat 30% tax. TDS @ 30% if prize > ₹10,000
🟢

Exempt Income (Schedule EI) ITR-1ITR-2ITR-3

Section 10 | Must be disclosed in Schedule EI even if exempt

▼
⚠️ Important: Exempt incomes must be disclosed in your ITR under Schedule EI. Not reporting them can lead to scrutiny. They do NOT increase your tax liability but must be declared.
Fully exempt. But if > ₹5,000 AND other income > basic exemption, partial tax applies via special computation (partial integration).
EPF interest exempt if contribution ≤ ₹2.5L/year (govt employees: ₹5L)
Exempt if premium ≤ 10% of Sum Assured. Policies issued after 1 Apr 2023 with premium > ₹5L: taxable.
Exempt up to ₹20 lakh for government/covered employees
Exempt up to ₹25 lakh for non-government employees (w.e.f. Apr 2023)
Fully exempt — scholarships granted to meet cost of education
Up to ₹1.25 lakh LTCG on listed equity (STT paid) is exempt per year
Exempt up to ₹5 lakh for eligible employees
Gifts from specified relatives (spouse, siblings, parents etc.) are FULLY EXEMPT regardless of amount
Dividends received from domestic companies before 1 Apr 2020 were exempt (DDT era). Not applicable for FY 2025-26.
Interest on govt-notified tax-free bonds (NHAI, REC, IRFC) is exempt
🎯

Deductions — Chapter VI-A (Old Regime Only) ITR-1ITR-2ITR-3

Section 80C to 80U | Not available under New Regime (except 80CCD(2), 80JJAA)

▼
New Regime users: Most Chapter VI-A deductions are NOT available. Only 80CCD(2) — employer NPS contribution, and 80JJAA — new employee deduction are available. All others below are for old regime only.
Section 80C (Combined limit ₹1,50,000)
NPS & Pension
Within ₹1.5L 80C limit: up to 10% of salary
Extra ₹50,000 deduction over and above ₹1.5L limit. OLD REGIME ONLY.
Up to 14% of salary (Govt) / 10% (others). Available in BOTH regimes.
Health, Education & Others
Max ₹25,000 (₹50,000 if senior citizen)
Max ₹25,000 (₹50,000 if parents are senior citizens)
No upper limit. For self, spouse, children or student for whom you are legal guardian. Max 8 years.
Max ₹10,000 (non-senior citizens). Use 80TTB instead for senior citizens.
Max ₹1,00,000 for resident senior citizens (savings + FD + RD interest). Replaces 80TTA.
₹75,000 (40%-79% disability) or ₹1,25,000 (≥80% severe disability)
50% or 100% deduction depending on fund. PM Relief Fund: 100% without limit.
100% deduction. Cash donations NOT eligible.
🧾

TDS / TCS / Advance Tax / Self-Assessment Tax All ITRs

Taxes already paid — reconcile with Form 26AS & AIS before filing

▼
Tip: Always match these figures with your Form 26AS on the Income Tax Portal. Mismatches trigger automated notices. Your Expert at Taxocount will do this reconciliation for you.
Buyer deducts 1% TDS if property value ≥ ₹50 lakh
TCS on foreign remittances, vehicle purchase, etc.
Required if tax liability > ₹10,000. Paid in 4 installments.
Tax paid while filing via challan 280 on IT portal
📝

Additional Notes / Special Situations

Foreign assets, brought-forward losses, special remarks

▼

Get your personalised Tax Summary on WhatsApp 📲

Fill your income details above → Submit → We'll send your PDF to your WhatsApp within 30 minutes. Free.