INCOME TAX
EMI Calculator
Explore instalments, dated prepayments and the effect of reducing tenure or recalculating EMI.
Browser-only calculation: your inputs stay in this browser. Educational estimates; verify eligibility and current official rules before acting.
What this tool covers
Full tax computation
| Computation | Old regime | New regime |
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Detailed calculation breakdown
Explore the projection schedule
Illustrative values based on the assumptions above.
Assumptions, scope & sources
Tax Year 2026–27 uses the Income-tax Act, 2025. Earlier financial years use the Income-tax Act, 1961 with applicable amendments. The old and new tax regimes are separate choices within those laws.
Read the calculation coverage · Official income-tax calculator ↗
UNDERSTAND THE CALCULATION
How to use EMI Calculator
Explore instalments, dated prepayments and the effect of reducing tenure or recalculating EMI.
Inputs and definitions
Principal, interest rate, tenure and any dated prepayment or revised-instalment assumptions.
Method and formula
For a constant monthly rate r and n payments, EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1). At zero interest, EMI = P ÷ n.
Illustrative example
₹1.2 lakh borrowed for 12 months at zero interest gives ₹10,000 per month. At positive interest the instalment and total interest rise; lender charges and rounding can differ.
Scope and limitations
Illustrative reducing-balance loan. Actual lender fees, rate resets and rounding can change payments.
These examples explain the method. The interactive result depends on the selected facts and period, and is not a filing or an eligibility confirmation.
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COMMON QUESTIONS
Before you use the result.
Will my lender charge exactly this EMI?
The result uses the stated reducing-balance assumptions. Disbursement timing, daily versus monthly interest, rounding, reset dates, fees and the lender’s contract can change the actual instalment or total cost.
What happens when the interest rate is zero?
The principal is divided by the number of payments. The calculator handles this separately so that the usual interest formula does not divide by zero.
Does prepayment always reduce the EMI?
Not necessarily. A lender may shorten the tenure, reduce the EMI or offer a choice. Select the modeled approach and compare the revised schedule; any lender prepayment charge is a separate contractual item.
Read these answers with the selected period, calculation scope and official sources above.