Income Tax Calculator India
Calculate income tax under both old and new regimes for FY 2026-27 (and FY 2025-26) with slabs, deductions, and surcharge.
Income details
Deductions (applied only to Old Regime)
Enter your investments and exemptions. The New Regime ignores most deductions but offers lower slab rates.
- Standard deduction in the New Regime is ₹75,000 for salaried taxpayers; Old Regime is ₹50,000.
- Section 87A rebate makes income up to ₹12,00,000 effectively tax-free under the New Regime (FY 2026-27).
- Surcharge applies on incomes above ₹50 lakh; the New Regime caps surcharge at 25%, the Old Regime can go up to 37%.
- Health and Education Cess of 4% is added on top of tax plus surcharge.
- This is an estimate for planning. It does not replace Form 16, AIS/TIS verification, or professional tax advice for filing.
Written by Anil Gautam · Updated
Which slabs does the calculator use for FY 2026-27?
Under the new regime for FY 2026-27, unchanged from FY 2025-26 by Budget 2026, the first ₹4 lakh of taxable income is taxed at nil, the next three ₹4 lakh bands at 5%, 10% and 15%, income from ₹16 lakh to ₹20 lakh at 20%, from ₹20 lakh to ₹24 lakh at 25%, and anything above ₹24 lakh at 30%. With the default inputs (salaried, below 60, ₹12 lakh gross, ₹1.5 lakh under 80C and ₹25,000 under 80D), the new regime taxes ₹11,25,000 after the ₹75,000 standard deduction. Its slab tax of ₹52,500 is cancelled by the rebate, so the total is ₹0, while the old regime comes to ₹1,11,800 including cess.
For salaried users the standard deduction moves the zero-tax point to ₹12,75,000 of gross salary. Choose Business / Other and the point drops to ₹12,00,000, since no standard deduction applies. Pension from a former employer is taxed as salary and gets the standard deduction, so pensioners can keep Salaried selected. Picking FY 2024-25 switches the new regime to that year's slabs and its ₹7 lakh rebate limit: at ₹15 lakh gross salary the new-regime tax is ₹1,30,000 for FY 2024-25 against ₹97,500 for FY 2025-26.
How much in deductions makes the old regime cheaper?
At higher salaries the deductions needed before the old regime wins are large. On a ₹20 lakh gross salary in FY 2026-27 the new regime total is ₹1,92,400. Fill the old regime with ₹1.5 lakh under 80C, ₹25,000 under 80D, ₹50,000 of NPS, ₹2 lakh of HRA exemption and ₹2 lakh of home loan interest, ₹6.25 lakh in all, and it still comes to ₹2,18,400, or ₹26,000 more. The two meet at about ₹7.08 lakh of deductions on top of the standard deduction.
Four fields are capped as the tax is computed: 80C at ₹1,50,000, 80D at ₹1,00,000, NPS under 80CCD(1B) at ₹50,000 and home loan interest at ₹2,00,000. Anything typed above a cap is ignored. The HRA exemption and Other deductions fields have no cap, so enter only what you can claim; the HRA Exemption Calculator works out the HRA figure from salary and rent. None of these fields affects the new-regime card.
How is marginal relief calculated?
The calculator applies marginal relief. For FY 2026-27 and FY 2025-26, new-regime tax on income just above ₹12 lakh cannot exceed the amount by which income crosses ₹12 lakh. At ₹12,76,000 gross salary, taxable income is ₹12,01,000, so the slab tax of ₹60,150 is cut to ₹1,000, or ₹1,040 with cess. For FY 2024-25 the same rule applies above ₹7 lakh. Surcharge gets marginal relief too: just above each threshold, starting at ₹50 lakh of taxable income, tax plus surcharge cannot exceed the amount due at the threshold plus the income above it. At ₹50,10,000 of taxable income, the new-regime surcharge is ₹7,000, against ₹1,08,300 at a flat 10%.
Why might your actual tax be lower than shown?
The tool assumes a resident individual, since non-residents do not get the Section 87A rebate. It also has no field for an employer's NPS contribution under Section 80CCD(2), which the new regime allows, so the new-regime figure is slightly high if your employer contributes.