Income Tax Comparison Excel — FY 2025-26 & FY 2026-27
Compare Old Regime vs New Regime tax liability side-by-side for both financial years in a single protected workbook. Enter CTC, age category, and deductions — the sheet computes exact tax, cess, rebate u/s 87A, marginal relief, and recommends the cheaper regime.
⬇ Download Excel — Free No signup. No email required. Direct download.What you get
Sheet-by-sheet overview
Workbook contents (3 sheets)
- Cover — Version, FY coverage, assumptions, and disclaimer.
- Calculator — Single input area + side-by-side Old vs New comparison, auto-recommendation.
- Slabs Reference — Slab tables for both FYs, both regimes, plus rebate and surcharge thresholds for audit trail.
How to use
- Download and open the workbook. Most cells are locked; only input cells are unlocked (highlighted in cream).
- Select the financial year from the dropdown at the top (FY 2025-26 or FY 2026-27).
- Enter Gross Salary, HRA exemption, other Sec 10 exemptions, age category, and deduction inputs (80C, 80D, 80CCD(1B), home loan interest, etc.).
- Read off the Old vs New tax liability, surcharge, cess, and the "Regime Recommendation" row — the sheet tells you which regime is cheaper and by how much.
Why this utility matters for CAs and salaried professionals
Since Finance Act 2020 introduced the concessional New Tax Regime and Finance Act 2025 made it the default while also revising the slabs substantially, every salaried individual and consultant needs a clean side-by-side comparison before they can decide which regime to opt into under Section 115BAC. The choice is not trivial — a person with heavy 80C, 80D, HRA, and home-loan interest claims often still benefits from the Old Regime even after the 2025 slab revision, whereas a lean taxpayer with minimal deductions almost always saves under the New Regime.
This Excel utility eliminates the back-of-the-envelope arithmetic. You enter gross salary once, set your age category, and plug in the deductions you actually claim. The workbook then computes tax under both regimes for the financial year you select, applies the correct Section 87A rebate (₹12,500 up to ₹5 lakh in the Old Regime, ₹60,000 up to ₹12 lakh in the New Regime for FY 2026-27), adds 4 percent Health & Education Cess, and flags marginal relief wherever total income sits just above a slab threshold.
Why a FY-toggle matters
FY 2025-26 and FY 2026-27 have different New Regime slabs — the Finance Act 2025 amendments widened the zero-tax zone from ₹3 lakh to ₹4 lakh, reorganised the 5%/10%/15% slabs, and added a 25% band between ₹20 lakh and ₹24 lakh. A single worksheet that quietly uses the older slabs will mis-state your tax liability by a material amount. This utility keeps both slab sets live in the reference sheet and the dropdown decides which set drives the calculation, so comparisons remain correct when you advise clients on tax planning for the current and the next FY in the same sitting.
Who should use this
Practising Chartered Accountants preparing investment-declaration advice for clients in March–April, HR teams running salary-restructuring exercises, and individual taxpayers deciding on the regime at the start of the year. The workbook is protected against accidental formula damage (password CalcGuru@2026 is provided for transparency) while keeping input cells freely editable.
Frequently asked questions
Does this file work on Google Sheets or Apple Numbers?
Yes. It is plain .xlsx with standard formulas — no macros. Google Sheets opens it directly via File > Import. Apple Numbers also imports cleanly, though some conditional formatting may render differently.
Why are the sheets password protected?
To prevent accidental overwrite of formulas. The password CalcGuru@2026 is published on the cover sheet — you can unlock and customise freely.
Does this compute surcharge for income above ₹50 lakh?
Yes. Surcharge bands of 10/15/25/37 percent are applied per Sec 2(3) read with the First Schedule. The New Regime surcharge cap of 25 percent is automatically honoured.
Does it consider capital gains?
No. This utility is limited to salary and Chapter VI-A deductions. Capital gains require separate treatment at special rates — use the Capital Gains Tax calculator on the calculators hub for that.