Income tax calculator – FY 2026-27
This income tax calculator estimates your tax for FY 2026-27 (AY 2027-28) under both the old and new regimes. Under the new regime, income up to ₹12 lakh is effectively tax-free thanks to the Section 87A rebate, with a ₹75,000 standard deduction for the salaried. Enter your income and deductions to see both regimes side by side, including 4% cess, and which one costs you less. Updated for FY 2026-27 – Budget 2026 kept the slabs unchanged.
Your income
These reduce tax under the old regime only. The new regime ignores them.
For individuals below 60. Nothing is stored – calculated in your browser.
| Item | New regime | Old regime |
|---|
Indicative estimate for a resident individual below 60, including 4% health & education cess and the Section 87A rebate. Surcharge on very high incomes and senior-citizen limits are not modelled. Verify with the latest rules before filing.
How to calculate income tax for FY 2026-27
- Enter your annual income before deductions.
- Set salaried and deductions – salaried applies the standard deduction; deductions apply under the old regime.
- Calculate to see both regimes side by side with cess.
- Pick the lower regime – the result highlights the cheaper one.
New regime slabs (FY 2026-27, default)
| Income slab | Rate |
|---|---|
| Up to ₹4,00,000 | Nil |
| ₹4,00,001 – ₹8,00,000 | 5% |
| ₹8,00,001 – ₹12,00,000 | 10% |
| ₹12,00,001 – ₹16,00,000 | 15% |
| ₹16,00,001 – ₹20,00,000 | 20% |
| ₹20,00,001 – ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
Standard deduction ₹75,000 for salaried. Section 87A rebate makes tax nil for taxable income up to ₹12,00,000.
Old regime slabs (FY 2026-27)
| Income slab | Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Standard deduction ₹50,000 for salaried, plus deductions under 80C, 80D, HRA and others. Section 87A rebate makes tax nil for taxable income up to ₹5,00,000.
Worked example
A salaried person earning ₹15 lakh with ₹1.5 lakh of old-regime deductions: under the new regime, taxable income is ₹14.25 lakh (after the ₹75,000 standard deduction) and the tax works out to about ₹97,500 including 4% cess. Under the old regime, taxable income is ₹13 lakh (after the ₹50,000 standard deduction and ₹1.5 lakh deductions) and the tax is higher, about ₹2,10,600 including cess – so the new regime wins here. Add more deductions and the gap narrows.
Frequently asked questions
What are the income tax slabs for FY 2026-27?
Under the new regime (default) for FY 2026-27 (AY 2027-28): up to Rs 4 lakh nil, Rs 4-8 lakh 5%, Rs 8-12 lakh 10%, Rs 12-16 lakh 15%, Rs 16-20 lakh 20%, Rs 20-24 lakh 25%, and above Rs 24 lakh 30%. The old regime is unchanged: up to Rs 2.5 lakh nil, Rs 2.5-5 lakh 5%, Rs 5-10 lakh 20%, above Rs 10 lakh 30%. Budget 2026 made no changes to the slabs.
Is income up to Rs 12 lakh tax-free under the new regime?
Effectively yes for most taxpayers. The Section 87A rebate makes tax zero when taxable income is up to Rs 12 lakh under the new regime. With the Rs 75,000 standard deduction, a salaried person earning up to about Rs 12.75 lakh can pay no tax.
Which regime is better - old or new?
It depends on your deductions. The new regime has lower rates but allows almost no deductions beyond the standard deduction. The old regime has higher rates but lets you claim 80C, 80D, HRA, home-loan interest and more. If your deductions are large, the old regime can win; otherwise the new regime is usually lower. This calculator shows both.
What is the standard deduction for FY 2026-27?
Salaried taxpayers and pensioners get a standard deduction of Rs 75,000 under the new regime and Rs 50,000 under the old regime. Tick the salaried option to apply it.
Is health and education cess included?
Yes. A 4% health and education cess is added on the income tax after rebate, in both regimes, and is included in the total shown.
