Income Tax Calculator in Excel — Free Download, FY 2025-26

It covers FY 2025-26, i.e. Assessment Year 2026-27, under the Income-tax Act, 2025. It uses the current new-regime slabs (nil up to Rs 4L, then 5/10/15/20/25/30%), the Rs 75,000 standard deduction, the 87A rebate up to Rs 12 lakh taxable income, surcharge with marginal relief and 4% cess.

Yes. The .xlsx file is fully compatible with Google Sheets — upload it to Google Drive and open it with Sheets, and all formulas and formatting work. It also opens in Microsoft Excel and LibreOffice Calc. No internet is needed once it is downloaded into a desktop app.

No. There is no signup, email capture or login. The download is a direct .xlsx file. Your financial data stays on your own device — nothing you type into the spreadsheet is uploaded anywhere, which is one advantage of an offline Excel tool over web calculators.

Yes. The workbook computes tax under both the old regime (with full deductions like 80C, 80D and home-loan interest) and the new regime, which is the default from FY 2023-24. A Comparison sheet shows the tax under each and highlights which regime results in lower tax for your numbers.

For FY 2025-26 the new-regime slabs are: nil up to Rs 4 lakh; 5% on Rs 4-8 lakh; 10% on Rs 8-12 lakh; 15% on Rs 12-16 lakh; 20% on Rs 16-20 lakh; 25% on Rs 20-24 lakh; and 30% above Rs 24 lakh. The 87A rebate then makes tax nil for taxable income up to Rs 12 lakh.

It applies Rs 75,000 standard deduction for salaried taxpayers and pensioners under the new regime, and Rs 50,000 under the old regime. Combined with the Rs 12 lakh rebate threshold, a salaried person on the new regime pays no tax up to Rs 12.75 lakh of salary.

Under the new regime, if your taxable income (after standard deduction) is up to Rs 12 lakh, the Section 87A rebate — up to Rs 60,000 — cancels the tax entirely, so your liability is nil. Under the old regime the rebate covers taxable income up to Rs 5 lakh. The rebate applies only to resident individuals and not to special-rate income such as capital gains.

On the old-regime input you can enter Section 80C (up to Rs 1.5 lakh), 80D health insurance, 80CCD(1B) NPS, Section 24(b) home-loan interest, HRA exemption and 80TTA/80TTB interest. The new regime disallows almost all of these, so the workbook only applies them to the old-regime column. See our Section 80C guide for what qualifies.

Yes. It adds surcharge for higher incomes — 10% above Rs 50 lakh, 15% above Rs 1 crore and 25% above Rs 2 crore, with marginal relief; the new regime caps surcharge at 25%. It then adds the 4% Health and Education Cess on tax plus surcharge to arrive at the final liability.

It is designed mainly for salaried individuals and those with income from other sources. For business or professional income with presumptive taxation (44AD/44ADA), depreciation or a detailed P&L, the workbook will not capture everything — consult a CA for an accurate computation and the right ITR form.

Treat it as a planning estimate, not an official assessment. Before filing, reconcile the figure with your Form 26AS and AIS on the portal, and confirm special items (capital gains, clubbing, foreign income) that the spreadsheet does not model. If in doubt, have a CA verify it or file the return for you.

Yes. If you want a quick estimate without a download, use our online Income Tax Calculator or the dedicated New Regime calculator. They apply the same FY 2025-26 logic instantly in your browser, though your data is not saved offline the way the Excel workbook keeps it on your device.