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Income Tax Calculator
Free income tax calculator for India — compare old vs new regime for Tax Year 2026-27 with deductions and a clear breakdown.
Last updated 2026-09-17 · FY 2026-27 / AY 2027-28 (slabs unchanged from FY 2025-26)
Age only changes old-regime exemption (₹2.5 lakh / ₹3 lakh / ₹5 lakh). New regime is ₹4 lakh for all ages.
Old regime only — not allowed in new
These reduce old-regime tax. New regime ignores them. Use the HRA calculator if you need the exemption amount.
AY 2027-28 · new regime is default · slabs live in FY config
New regime tax
₹97,500
Taxable ₹14,25,000
Old regime tax
₹2,10,600
Deductions ₹1,50,000
New regime is still lower by ₹1,13,100. Your old-regime deductions are not large enough to beat the default slabs and rebate.
Estimate only: slabs, standard deduction, named old-regime items, rebate, surcharge bands, 4% cess. Full surcharge marginal relief is not modelled. Not a filing.
Step-by-step comparison
Same income, both regimes. New regime is the default at filing.
| Step | New regime | Old regime |
|---|---|---|
| Gross income | ₹15,00,000 | ₹15,00,000 |
| Standard deduction | − ₹75,000 | − ₹50,000 |
| 80C, HRA, 80D, home loan, NPS extra | Not allowed | − ₹1,50,000 |
| Taxable income | ₹14,25,000 | ₹13,00,000 |
| Tax before rebate | ₹93,750 | ₹2,02,500 |
| Rebate | − ₹0 | − ₹0 |
| Surcharge | ₹0 | ₹0 |
| Cess 4% | ₹3,750 | ₹8,100 |
| Total tax | ₹97,500 | ₹2,10,600 |
| Monthly (÷ 12) | ₹8,125 | ₹17,550 |
| Effective rate on gross | 6.50% | 14.04% |
New regime slabs
Same for all ages
| Income band | 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% |
Old regime slabs
Below 60: nil up to ₹2.5 lakh
| Income band | 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% |
How it works
Tax is computed slab-wise. Rebate (old 87A) is applied, then 4% health and education cess. Old regime also subtracts 80C, HRA, 80D, home-loan interest and extra NPS before slabs.
How to use this calculator
- Enter the inputs shown above (amount, rate, tenure, income, or other fields).
- Read the live results — they update as you type.
- Check the formula, worked example, and assumptions on this page before you decide.
Formula
Tax is computed slab-wise. Rebate (old 87A) is applied, then 4% health and education cess. Old regime also subtracts 80C, HRA, 80D, home-loan interest and extra NPS before slabs.
Worked example
A salaried person with ₹15 lakh income and ₹1.5 lakh of 80C: compare both columns. With no deductions, new regime usually wins; large HRA plus home-loan interest can flip it to old.
Reading the result
Treat the output as a planning figure. Compare it with your sanction letter, payslip, or GST invoice rather than treating it as a filing or a loan offer.
Read the full guideSee also: calculation methodology and disclaimer.
Frequently asked questions
No. Tax Year 2026-27 continues the FY 2025-26 slab rates. New regime remains default, with exemption up to ₹4 lakh and rebate making taxable income up to ₹12 lakh effectively tax-free (salaried, about ₹12.75 lakh before standard deduction).
Assumptions and limits
- This is a planning estimate. Your lender, employer, or tax officer may use different inputs or rounding.
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.
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