FY 2025-26 · AY 2026-27 · Budget 2025 rules
Income Tax Refund Calculator
Calculate your income tax refund in 30 seconds. Old vs New regime side-by-side. No login, no Form 16 upload — just enter your numbers below.
Enter your numbers
Total before any deductions — from Form 16 Part B, line 1
Total TDS for the year — Form 16 Part A or Form 26AS
Optional — claim deductions▾
These apply to the Old regime only. Leave blank if you don't claim them.
EPF + PPF + ELSS + LIC + tuition fees, etc. — cap ₹1.5L
Self + family + parents — cap ₹25K / ₹50K / ₹1L based on age
Section 24(b) — cap ₹2L for self-occupied
HRA exemption depends on rent, basic salary, and city
Enter your gross salary on the left and we'll show your refund instantly.
Want a sharper number?
Upload your Form 16 — RefundWise auto-extracts every line item, catches HRA you can claim, finds missed deductions, and builds a step-by-step filing guide for incometax.gov.in.
How income tax refund is calculated (FY 2025-26)
A tax refund arises when the TDS (Tax Deducted at Source) on your salary, FD interest, and other income exceeds your actual tax liability for the year. The calculator above applies the FY 2025-26 / AY 2026-27 rules to compute that liability.
- Gross income — salary + other taxable income you enter above.
- Less standard deduction — ₹75,000 (New regime) or ₹50,000 (Old regime).
- Less Chapter VI-A deductions — 80C, 80D, HRA, 24(b), etc. (mostly Old regime; New regime allows only 80CCD(2)).
- Apply slabs — Budget 2025 New regime (0/5/10/15/20/25/30%) or Old regime (0/5/20/30%, age-aware).
- Less Section 87A rebate — up to ₹60,000 (New) / ₹12,500 (Old) with marginal relief at the cliff.
- Plus surcharge — kicks in above ₹50L total income; marginal relief applied at each cliff.
- Plus 4% cess — Health & Education Cess on tax + surcharge.
- Less TDS already deducted — excess = your refund.
The calculator picks the regime that gives the lower tax — see the full Old vs New breakdown. For sections and definitions, check the tax glossary.
Frequently asked
How is income tax refund calculated for FY 2025-26?▾
Income tax refund = TDS already deducted minus your actual tax liability for the year. If your employer (or banks/clients) deducted more TDS than your final tax due, the excess is your refund. RefundWise applies FY 2025-26 (Budget 2025) slabs, the ₹60,000 Section 87A rebate (New regime, up to ₹12L taxable), the ₹12,500 rebate (Old regime, up to ₹5L), marginal relief at every cliff, surcharge tiers, and 4% Health & Education Cess automatically.
How much income tax refund will I get this year?▾
It depends on three things: (1) total tax already deducted at source (TDS) from your salary and other income, (2) your taxable income after deductions, and (3) which regime you choose. A salaried person earning ₹15L with full 80C + 80D + HRA claims could see a refund of ₹30K-50K under Old regime if their employer over-deducted. The calculator above gives you an exact number in 30 seconds.
Is this an Income Tax Department calculator?▾
No. RefundWise is an independent calculator built by E&D Shapers Educom Private Limited (Karnataka, India). It applies the Income Tax Department's published rules for FY 2025-26 but is not affiliated with the government. The official portal is incometax.gov.in.
Why does the refund differ between Old and New tax regime?▾
New regime uses lower slab rates (0/5/10/15/20/25/30%) and a ₹60,000 87A rebate up to ₹12L taxable income, but disallows most Chapter VI-A deductions (80C, 80D, HRA, 24(b)). Old regime keeps full deductions but with higher slab rates. As a thumb-rule, Old beats New when your combined deductions exceed roughly ₹4-5 lakh.
When will I receive my income tax refund?▾
Refunds are typically credited within 7-30 days of e-verifying your ITR, provided your bank account is pre-validated on incometax.gov.in and there are no mismatches with Form 26AS / AIS. Complex cases (refund > ₹50K, mismatches, audit cases) can take 3-9 months. Interest at 0.5% per month under Section 244A is added if the department delays beyond a threshold.
Can I claim refund of TDS deducted by my employer?▾
Yes. If TDS deducted from your salary exceeds your actual annual tax liability (e.g., because you joined mid-year, made tax-saving investments after employer deducted TDS, or claimed HRA your employer didn't consider), you get the excess back as refund when you file your ITR.
Do I need to file ITR to get my income tax refund?▾
Yes — refund is processed only after you file your ITR and e-verify it. Even if your total income is below the basic exemption limit, file ITR to claim any TDS deducted (banks deduct TDS on FD interest above ₹40K / ₹50K senior; brokers deduct TDS on commissions, etc.).
How accurate is this refund calculator?▾
For salaried filers with straightforward income (one employer, no capital gains, standard deductions), the estimate is accurate to within ₹100-500. Edge cases — multi-employer year, basic salary missing from Form 16, NPS 80CCD(2), surcharge cliffs, perquisites — need the full Form 16 upload at /calculator for the sharpest number. The calculator above is intentionally simplified for instant answers.
Disclaimer: RefundWise is not a chartered accountant and does not file ITRs on your behalf. The estimate is based on FY 2025-26 / AY 2026-27 rules and the data you entered. Verify all figures against your Form 16 / Form 26AS / AIS before filing on incometax.gov.in.