Income tax calculator FY 2026-27
Compare your tax under the new and old regime for FY 2026-27, and see which one costs you less.
An income tax calculator compares your tax under the new and old regime for FY 2026-27, using the slab rates under the Income-tax Act, 2025, plus 4% cess. On a ₹20,00,000 salary with ₹4,75,000 of deductions, the new regime comes to ₹1,92,400 and the old one to ₹2,65,200.
Your income tax for FY 2026-27
New regime
₹0
Lower tax
Old regime
₹1,63,800
Lower tax
You save ₹1,63,800 with the new regime
Rupees one lakh sixty-three thousand eight hundred only
- Taxable income, new
- ₹11,25,000
- Taxable income, old
- ₹11,50,000
0% of your salary goes in tax with the new regime.
Estimate for a resident with salary income. Not tax advice. Nothing you type is stored.
Surcharge is approximate above ₹50 lakh.
See the breakdownPaying rent? Work out your HRA exemption, then add it to the deductions above.
How to use this income tax calculator
- Enter your gross salary for the year, before any deductions. Type it in or drag the slider.
- Pick your age band. It changes the old regime's tax-free limit.
- Open "Deductions (old regime only)" and add what you claim: tax-saving investments, health insurance, home-loan interest, extra NPS and HRA.
- If your employer pays into NPS for you, add it under "Employer NPS". It counts in both regimes. Then compare the two totals and open the breakdown.
How income tax is worked out
Tax = (slab tax − rebate + surcharge) × 1.04
- Taxable income
- Gross salary minus the standard deduction and any other deductions your regime allows.
- Slab tax
- Each slice of taxable income taxed at its own rate, from the slab tables below.
- Rebate
- A cut in tax for lower incomes (old section 87A, now section 156). New regime: up to ₹60,000 if taxable income is ₹12 lakh or less. Old regime: up to ₹12,500 if it is ₹5 lakh or less.
- Surcharge
- Extra tax on incomes above ₹50 lakh: 10%, 15% above ₹1 crore, 25% above ₹2 crore (37% above ₹5 crore in the old regime).
- × 1.04
- The 4% health and education cess on tax plus surcharge.
Just above ₹12 lakh in the new regime, marginal relief applies: your tax can't be more than the income above ₹12 lakh. The calculator covers salary and other regular income at slab rates, not capital gains.
Worked example
You earn ₹20,00,000 a year and are below 60. You pay ₹2,00,000 home-loan interest, invest ₹1,50,000 in tax-saving options, pay ₹75,000 for health insurance (₹25,000 for your family and ₹50,000 for senior parents) and put an extra ₹50,000 in NPS.
- New regime: ₹20,00,000 − ₹75,000 standard deduction = ₹19,25,000 taxable. Slab tax is ₹1,85,000. Add 4% cess: ₹1,92,400.
- Old regime: deductions total ₹5,25,000 (including the ₹50,000 standard deduction), so ₹14,75,000 is taxable. Slab tax is ₹2,55,000. Add 4% cess: ₹2,65,200.
- New regime
- ₹1,92,400
- Old regime
- ₹2,65,200
- You save with new
- ₹72,800
Even with ₹4,75,000 of deductions, the new regime costs less here.
When does the old regime cost less?
The old regime only wins if your deductions are large. This table shows tax with no deductions, and how much you'd need to deduct (on top of the standard deduction) for the old regime to cost the same or less. It assumes you are below 60 and have no employer NPS.
| Gross salary | New regime tax | Old regime tax, no deductions | Deductions for old to match |
|---|---|---|---|
| ₹10 lakh | ₹0 | ₹1,06,600 | ₹4.5 lakh |
| ₹12.75 lakh | ₹0 | ₹1,87,200 | ₹7.25 lakh |
| ₹15 lakh | ₹97,500 | ₹2,57,400 | ₹5.44 lakh |
| ₹20 lakh | ₹1,92,400 | ₹4,13,400 | ₹7.08 lakh |
| ₹25 lakh | ₹3,19,800 | ₹5,69,400 | ₹8 lakh |
| ₹30 lakh | ₹4,75,800 | ₹7,25,400 | ₹8 lakh |
| ₹50 lakh | ₹10,99,800 | ₹13,49,400 | ₹8 lakh |
Most salaried people can claim ₹1,50,000 in tax-saving investments, up to ₹1,00,000 for health insurance and ₹50,000 of extra NPS. Reaching ₹8 lakh usually needs large home-loan interest and HRA as well.
Tax slabs for FY 2026-27
The Income-tax Act, 2025 applies from 1 April 2026. It replaces "FY 2026-27 / AY 2027-28" with a single "tax year 2026-27", and renumbers most sections. The Finance Act 2026 did not change the rates. The new regime (section 202, old 115BAC) is the default; you can opt out to the old regime.
| New regime income | Rate |
|---|---|
| Up to ₹4 lakh | Nil |
| ₹4–8 lakh | 5% |
| ₹8–12 lakh | 10% |
| ₹12–16 lakh | 15% |
| ₹16–20 lakh | 20% |
| ₹20–24 lakh | 25% |
| Above ₹24 lakh | 30% |
Old regime: no tax up to ₹2.5 lakh (₹3 lakh at 60–79, ₹5 lakh at 80+), 5% up to ₹5 lakh, 20% from ₹5 lakh to ₹10 lakh and 30% above ₹10 lakh. Source: section 202, Income Tax Department.
| What it covers | Old section | New section |
|---|---|---|
| Rebate | 87A | 156 |
| New regime | 115BAC | 202 |
| Standard deduction | 16(ia) | 19 |
| Home-loan interest | 24(b) | 22 |
| Tax-saving investments | 80C | 123 |
| NPS | 80CCD | 124 |
| Health insurance | 80D | 126 |
HRA exemption now sits in Schedule III (Sl. 11) and Rule 279.
Deduction limits used
- Standard deduction: ₹75,000 new, ₹50,000 old (section 19).
- Tax-saving investments (old 80C, now section 123): up to ₹1,50,000. Old regime only.
- Health insurance (old 80D, now section 126): ₹25,000 for you and family, ₹25,000 for parents; each ₹50,000 if the person covered is a senior citizen. Old regime only.
- Home-loan interest on a home you live in (old 24(b), now section 22): up to ₹2,00,000. Old regime only.
- Your own extra NPS (old 80CCD(1B), now section 124): up to ₹50,000. Old regime only.
- Employer NPS (old 80CCD(2), now section 124): both regimes; up to 14% of basic + DA, or 10% for private employers in the old regime.
Income tax calculator FAQs
Is income up to ₹12 lakh tax-free?
In the new regime, yes. If your taxable income is ₹12 lakh or less, the rebate wipes out the tax. With the ₹75,000 standard deduction, a salary of up to ₹12,75,000 pays no tax. Just above that, marginal relief keeps the jump small: a ₹13 lakh salary pays ₹26,000.
Which regime is better for me?
It depends on your deductions. With few deductions, the new regime almost always costs less. The old regime can win if you claim large amounts for home-loan interest, HRA and investments. Enter yours above to see both totals.
What is the standard deduction?
A flat amount taken off salary income. It is ₹75,000 in the new regime and ₹50,000 in the old regime.
How much tax on a ₹15 lakh salary?
With no other deductions, ₹97,500 in the new regime and ₹2,57,400 in the old regime, including cess. With ₹1,80,000 of HRA and ₹1,50,000 of tax-saving investments, the old regime falls to ₹1,54,440, still more than the new.
Can I switch between regimes?
The new regime is the default. You can opt out to the old regime under section 202. Check the Income Tax Department's site for when and how you can switch before you file.
Is HRA allowed in the new regime?
No. HRA exemption only reduces tax in the old regime. Use the HRA calculator to find your exempt amount.
Is my data saved?
No. Everything is calculated in your browser. Nothing you type is sent to us or stored. Your numbers only go into the link you choose to copy or share.
For education only, not tax advice. Based on rules for FY 2026-27. Check with a CA or the Income Tax Department at incometax.gov.in before you file.