India income tax (regime comparison)
indian_income_taxCompute Indian personal income tax liability comparing the Union Budget 2025-26 New Tax Regime (with Section 87A rebate and ₹75,000 standard deduction) against the Old Tax Regime.
Behavior: Deterministic, idempotent calculation with zero external side effects. Applies statutory slab rates for FY 2025-26 (AY 2026-27): ₹0-4L Nil, ₹4-8L 5%, ₹8-12L 10%, ₹12-16L 15%, ₹16-20L 20%, ₹20-24L 25%, above ₹24L 30%. Applies full Section 87A rebate if taxable income is up to ₹12 Lakhs, adds 4% Health & Education Cess, and returns side-by-side comparison of old vs new regime, and states which one gives the lower tax for the inputs given.
Usage Guidelines: Use when computing personal income tax or payroll deductions for Indian residents and salaried professionals. Do not use for US federal/state taxes; use contractor_parity or solo_401k_shield instead.
Input Schema
| Name | Required | Description | Default |
|---|---|---|---|
| ctc | Yes | Annual Cost-to-Company (CTC) / Gross taxable salary in Indian Rupees (INR ₹). Must be a positive number. | |
| as_of_date | Yes | Civil date YYYY-MM-DD. Selects the rule pack in force on that date. Required: the engine will not assume a date. | |
| isSalaried | No | Whether the taxpayer is a salaried employee (eligible for statutory ₹75,000 standard deduction under the New Regime). |