worldofcalcsIncome Tax Calculator FY 2026-27
Updated for FY 2026-27 (income earned April 2026 to March 2027), with the slabs, ₹12 lakh rebate and standard deduction that apply this year.
Deductions (old regime only)
The new regime ignores these. The Income-tax Act, 2025 renumbered the sections; this page uses the familiar names.
New Regime
Lower taxOld Regime
How your tax is worked out
| New Regime | Old Regime | |
|---|---|---|
| Gross income | ₹15,00,000 | ₹15,00,000 |
| Standard Deduction | − ₹75,000 | − ₹50,000 |
| Other deductions | ₹0 | − ₹2,25,000 |
| Taxable Income | ₹14,25,000 | ₹12,25,000 |
| Tax on slabs | ₹93,750 | ₹1,80,000 |
| Health and education cess (4%) | ₹3,750 | ₹7,200 |
| Total tax | ₹97,500 | ₹1,87,200 |
New regime slabs
| Income | Rate | Your tax |
|---|---|---|
| Up to ₹4,00,000 | Nil | ₹0 |
| ₹4,00,000 – ₹8,00,000 | 5% | ₹20,000 |
| ₹8,00,000 – ₹12,00,000 | 10% | ₹40,000 |
| ₹12,00,000 – ₹16,00,000 | 15% | ₹33,750 |
| ₹16,00,000 – ₹20,00,000 | 20% | ₹0 |
| ₹20,00,000 – ₹24,00,000 | 25% | ₹0 |
| Above ₹24,00,000 | 30% | ₹0 |
Old regime slabs
| Income | Rate | Your tax |
|---|---|---|
| Up to ₹2,50,000 | Nil | ₹0 |
| ₹2,50,000 – ₹5,00,000 | 5% | ₹12,500 |
| ₹5,00,000 – ₹10,00,000 | 20% | ₹1,00,000 |
| Above ₹10,00,000 | 30% | ₹67,500 |
Capital gains on shares and equity mutual funds are taxed at special rates and are not included here; the rebate does not apply to them. This is an estimate, not tax advice.
Income tax in India for FY 2026-27
Income tax for FY 2026-27 (tax year 2026-27) covers income earned from 1 April 2026 to 31 March 2027. It is the first year under the Income-tax Act, 2025, but Budget 2026 kept the rates and limits from last year. You can pay tax under the new regime, which is the default and has lower rates but almost no deductions, or the old regime, which has higher rates but lets you claim 80C, 80D, HRA, home loan interest and more. This calculator works out your tax under both and shows which is cheaper for you.
How your tax is calculated
Start with gross income, subtract the standard deduction (₹75,000 in the new regime, ₹50,000 in the old) and any deductions the regime allows to get taxable income. Each slab of taxable income is taxed at its rate. If taxable income is within the rebate limit (₹12 lakh new, ₹5 lakh old), the rebate cancels the tax. Above ₹50 lakh a surcharge applies, and 4% health and education cess is added on top.
Key rules for FY 2026-27
- A salary of up to ₹12,75,000 is tax-free in the new regime: the ₹75,000 standard deduction brings taxable income to ₹12,00,000, and the rebate cancels the tax on that.
- Just above ₹12,00,000, marginal relief caps your tax at the income above ₹12,00,000, so earning a little more never leaves you worse off.
- The new regime is the default. If you have no business income you can choose either regime every year when you file your return.
- In the new regime the only common deductions left are the standard deduction and your employer's NPS contribution (up to 14% of basic + DA).
- The rebate does not apply to capital gains on shares and equity funds, which are taxed separately (20% short-term; 12.5% long-term above ₹1.25 lakh).
- Surcharge applies above ₹50 lakh (10%), ₹1 crore (15%) and ₹2 crore (25%). The old regime adds 37% above ₹5 crore.
- Senior citizens get a higher tax-free limit only in the old regime: ₹3 lakh from age 60 and ₹5 lakh from age 80.
Worked example: ₹15 lakh salary
- New regime: salary ₹15,00,000 minus the ₹75,000 standard deduction leaves ₹14,25,000 of taxable income
- Slab tax: nil up to ₹4,00,000, then 5% of ₹4,00,000 (₹20,000), 10% of ₹4,00,000 (₹40,000) and 15% of ₹2,25,000 (₹33,750)
- Tax on slabs is ₹93,750. No rebate, because taxable income is above ₹12,00,000
- With 4% cess (₹3,750), the total is ₹97,500 a year, or ₹8,125 a month
- Old regime with ₹2,25,000 of deductions: taxable income ₹12,25,000 and tax of ₹1,87,200. The new regime saves ₹89,700
Tax on common salaries, FY 2026-27
Total tax including cess for a salaried person below 60 with no other income. The old regime column assumes ₹2,25,000 of deductions (80C, 80D and NPS).
| Salary | New regime | Old regime | Deductions needed for old to match |
|---|---|---|---|
| ₹8,00,000 | ₹0 | ₹18,200 | ₹2,50,000 |
| ₹10,00,000 | ₹0 | ₹59,800 | ₹4,50,000 |
| ₹12,75,000 | ₹0 | ₹1,17,000 | ₹7,25,000 |
| ₹15,00,000 | ₹97,500 | ₹1,87,200 | ₹5,43,750 |
| ₹20,00,000 | ₹1,92,400 | ₹3,43,200 | ₹7,08,334 |
| ₹25,00,000 | ₹3,19,800 | ₹4,99,200 | ₹8,00,000 |
| ₹30,00,000 | ₹4,75,800 | ₹6,55,200 | ₹8,00,000 |
| ₹50,00,000 | ₹10,99,800 | ₹12,79,200 | ₹8,00,000 |
The last column is how much you'd need to deduct (apart from the standard deduction) for the old regime to cost the same as the new. Above about ₹25 lakh, it's ₹8 lakh.