India income tax (old regime)
tax_inCompute Indian Personal Income Tax under Union Budget 2025-26 and Finance Act 2024. Performs dual-regime side-by-side comparison between the New Concessional Regime (Section 115BAC with ₹75,000 standard deduction and ₹12 lakh / ₹12.75 lakh Section 87A rebate) and the Old Tax Regime with Chapter VI-A deductions.
Input Schema
| Name | Required | Description | Default |
|---|---|---|---|
| regime | No | Tax regime to compute: 'both' (dual comparison), 'new', or 'old'. | both |
| as_of_date | Yes | Statutory as-of date in ISO YYYY-MM-DD format. | |
| gross_income | Yes | Gross annual income from all sources in INR (₹). | |
| deductions_80c | No | Chapter VI-A Section 80C deductions (capped at ₹1,50,000 for Old Regime). | |
| deductions_80d | No | Section 80D health insurance premium deduction for Old Regime. |