Income tax calculator FY 2026-27 · free How much income tax will you pay?
Under the new regime for FY 2026-27 (AY 2027-28) there's no income tax if your taxable income is ₹12 lakh or less, which is ₹12.75 lakh of salary after the standard deduction. Above that, enter your income below to see your tax under the new and old regimes side by side, with every slab worked out.
Updated · rules for FY 2026-27 (AY 2027-28)
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Your income
Your tax for FY 2026-27
The new regime saves you ₹1,05,300 a year.
How it's worked out · new regime
Tax by slab
| Income slab | Rate | Tax |
|---|---|---|
| ₹0 – ₹4L | 0% | ₹0 |
| ₹4L – ₹8L | 5% | ₹20,000 |
| ₹8L – ₹12L | 10% | ₹40,000 |
| ₹12L – ₹16L | 15% | ₹33,750 |
How to use the Income Tax Calculator
- Pick your age group: below 60, 60 to 79, or 80 and above.
- Enter your annual salary and any other income, such as interest or rent.
- For the old regime, add deductions you can claim: 80C, 80D, HRA exemption, home loan interest and NPS.
- Compare the tax under the new and old regimes side by side, and open the slab-by-slab working for either one.
Worked example
Say you're under 60 and salaried, earn ₹15,00,000 a year, put ₹1,50,000 into 80C investments (PF, PPF, ELSS) and pay ₹25,000 for health insurance (80D). These are the figures the calculator opens with.
New regime
| Salary | ₹15,00,000 |
| Standard deduction | − ₹75,000 |
| Taxable income | ₹14,25,000 |
| 5% on ₹4,00,000 | ₹20,000 |
| 10% on ₹4,00,000 | ₹40,000 |
| 15% on ₹2,25,000 | ₹33,750 |
| Health & education cess (4%) | ₹3,750 |
| Total tax | ₹97,500 |
Old regime
| Salary | ₹15,00,000 |
| Standard deduction | − ₹50,000 |
| Deductions (80C + 80D) | − ₹1,75,000 |
| Taxable income | ₹12,75,000 |
| 5% on ₹2,50,000 | ₹12,500 |
| 20% on ₹5,00,000 | ₹1,00,000 |
| 30% on ₹2,75,000 | ₹82,500 |
| Health & education cess (4%) | ₹7,800 |
| Total tax | ₹2,02,800 |
The new regime costs ₹1,05,300 less a year here, or about ₹8,125 of TDS a month instead of ₹16,900.
At a salary of ₹12,75,000 with no other income, the new regime gives a taxable income of ₹12,00,000 and a slab tax of ₹60,000, which the 87A rebate cancels in full: the tax due is ₹0.
Income tax slabs for FY 2026-27
Budget 2026 kept last year's slabs, so these apply to income earned from 1 April 2026 to 31 March 2027 (assessment year 2027-28).
New regime (the default)
- 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%
With the section 87A rebate (up to ₹60,000), there's no tax if your taxable income is ₹12 lakh or less. Salaried people and pensioners also get a ₹75,000 standard deduction, so a salary of up to ₹12.75 lakh is tax-free.
Old regime
- Up to ₹2.5 lakh: nil (₹3 lakh at 60–79, ₹5 lakh at 80+)
- ₹2.5–5 lakh: 5% · ₹5–10 lakh: 20% · above ₹10 lakh: 30%
The old regime has higher rates but lets you claim deductions like 80C, 80D, HRA and home loan interest. Its 87A rebate is up to ₹12,500, for taxable income of ₹5 lakh or less, and the standard deduction is ₹50,000.
How it's calculated
Tax = slab tax − 87A rebate + surcharge + 4% health and education cess
- Taxable income = salary + other income − standard deduction − deductions (old regime only). The calculator caps 80C at ₹1.5 lakh, 80D at ₹1 lakh, home loan interest under section 24(b) at ₹2 lakh and NPS under 80CCD(1B) at ₹50,000.
- Slab tax: each slice of income is taxed at its own rate, as in the table the calculator shows.
- Rebate: if taxable income is within the 87A limit, the slab tax is cancelled up to the rebate amount. Just above ₹12 lakh in the new regime, marginal relief keeps the tax from exceeding the income above ₹12 lakh.
- Surcharge on the tax: 10% above ₹50 lakh, 15% above ₹1 crore, 25% above ₹2 crore, and in the old regime 37% above ₹5 crore. The new regime stops at 25%.
- Cess of 4% on tax plus surcharge.
Rules used: section 115BAC (new regime), section 87A (rebate), section 16(ia) (standard deduction), and sections 80C, 80D, 80CCD(1B) and 24(b) of the Income-tax Act, 1961, at the rates in force for FY 2026-27. From 1 April 2026 the Income-tax Act, 2025 renumbers these sections; the rates and limits above are the same.
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