Finance question
How much income tax will I pay on my salary?
Last updated 2026-09-17
Quick answer
For FY2026-27 the default new regime plus ₹75,000 standard deduction and section 87A can make taxable income up to ₹12,00,000 effectively tax-free for eligible resident individuals. A ₹15 lakh salaried package is therefore often a small tax number in the new regime if you have no special-rate income — confirm in the calculator; surcharge and old-regime deductions can change it.
Calculate your numbers
Tables below use stated assumptions. Change rate, tenure or income in the calculator for your case.
Open Income taxUse the FY engine, not a remembered blog slab
Slabs, rebate and standard deduction live in the site’s FY2026-27 configuration (AY 2027-28). Budget 2026 left those rates unchanged from FY 2025-26. Open the income-tax calculator and pick the year so a future Finance Act does not leave this article stranded.
Worked example
₹15 lakh gross, salaried, age below 60, new regime, no old-regime deductions: the calculator subtracts the new-regime standard deduction, applies slabs and 87A, then 4% cess. TDS is roughly that annual tax divided by 12.
Formula
Taxable ≈ gross − standard deduction (− old-regime deductions if you opt out). Slab tax from the FY config, minus 87A if eligible, plus surcharge bands, plus 4% cess.
Example scenarios
New-regime salaried tax estimate — FY2026-27, age under 60, no 80C/HRA
| Gross salary | Taxable (after std. deduction) | Estimated tax (incl. cess) |
|---|---|---|
| ₹5,00,000 | ₹4,25,000 | ₹0 |
| ₹8,00,000 | ₹7,25,000 | ₹0 |
| ₹10,00,000 | ₹9,25,000 | ₹0 |
| ₹12,00,000 | ₹11,25,000 | ₹0 |
| ₹15,00,000 | ₹14,25,000 | ₹97,500 |
| ₹20,00,000 | ₹19,25,000 | ₹1,92,400 |
| ₹25,00,000 | ₹24,25,000 | ₹3,19,800 |
| ₹30,00,000 | ₹29,25,000 | ₹4,75,800 |
Special-rate income (listed-equity LTCG/STCG) is outside 87A. Surcharge applies at higher income as per config.
What changes the answer
- Regime
- Salary vs business income
- Old-regime 80C/HRA/80D
- Surcharge thresholds
Things to consider
- This is not a filing. Form 16 may differ because of perquisites and previous employment.
- Uses taxConfig(FY2026-27). Salaried standard deduction on. No other heads of income.
Results are educational estimates, not tax, legal, investment, or medical advice, and not a loan offer. Verify filings and payments with the official authority or a qualified professional.
FAQs
Monthly TDS is the employer’s estimate of annual tax. Use the TDS calculator for ÷12; actual Form 16 can differ.