Income Tax Calculator
Compare your tax liability under the Old and New tax regimes for FY 2026-27. Find out which regime saves you more.
For FY 2026-27, the New Tax Regime has slab rates starting at 0% up to Rs 4 lakh, a standard deduction of Rs 75,000, and a rebate of up to Rs 60,000 under section 156 (section 87A of the 1961 Act), so salaried taxpayers earning up to Rs 12.75 lakh gross salary pay zero income tax under the New Regime. It is worth recalculating which regime works best for your specific deduction profile every year.
This calculator helps you compare both regimes instantly. Enter your gross income, select your age group, and input your Old Regime deductions (80C, 80D, 80CCD(1B), HRA, and others). The tool computes your total tax under each regime including cess and surcharge, shows your effective tax rate, and identifies the exact breakeven deduction level where the Old Regime starts saving you more than the New Regime.
Income Details
Deductions (Old Regime)
These deductions apply only under the Old Regime. The New Regime allows only the standard deduction.
Tax Comparison — FY 2026-27
Slab rates for FY 2026-27 per the Finance Act 2026. Sections named are those of the Income-tax Act, 2025: New Regime slabs section 202, standard deduction section 19, rebate section 156 (section 87A of the 1961 Act). Deduction labels (80C, 80D, 80CCD(1B)) are the Income-tax Act, 1961 names. For a resident individual with income taxed at slab rates. Capital gains and other special-rate income are not included.
New Regime saves you ₹1,01,400
The New Tax Regime is better for you at your current deduction level.
| Component | Old Regime | New Regime ✓ |
|---|---|---|
| Gross Income | ₹12,00,000 | ₹12,00,000 |
| Standard Deduction | ₹50,000 | ₹75,000 |
| Total Deductions | ₹2,75,000 | ₹75,000 |
| Taxable Income | ₹9,25,000 | ₹11,25,000 |
| Tax Before Cess | ₹97,500 | ₹0 |
| Cess (4%) | ₹3,900 | ₹0 |
| Total Tax | ₹1,01,400 | ₹0 |
| Effective Tax Rate | 8.45% | 0% |
Tax Comparison
Slab-wise Tax Breakdown
Benefits of Using an Income Tax Calculator
Instant regime comparison
See your tax liability under both Old and New regimes side by side, so you can pick the one that saves you more without manual calculations.
Breakeven analysis
Discover the exact deduction threshold at which switching from the New Regime to the Old Regime becomes beneficial for your income level.
Slab-wise transparency
View the detailed slab-by-slab tax breakdown for both regimes, so you understand exactly where each rupee of tax comes from.
All major deductions covered
Input Section 80C, 80D, 80CCD(1B), HRA exemption, and other deductions in one place to get a complete Old Regime picture.
Effective tax rate insight
See your effective tax rate (not just marginal rate) for both regimes, giving you a true picture of your real tax burden as a percentage of gross income.
Salient Features of This Income Tax Calculator
Slab rates for FY 2026-27
Uses the New Regime slab rates (section 202 of the Income-tax Act, 2025) at the rates of the Finance Act 2026, the Rs 75,000 standard deduction (section 19) and the rebate of up to Rs 60,000 under section 156 (section 87A of the 1961 Act), for income earned from 1 April 2026.
Rebate (section 156, formerly 87A) and marginal relief applied automatically
If your total income under the New Regime is up to Rs 12 lakh, the calculator applies the rebate of up to Rs 60,000, bringing your tax to zero. Just above Rs 12 lakh it applies marginal relief, so the tax never exceeds the income above Rs 12 lakh.
Surcharge and cess included
The final tax figure includes 4% Health and Education Cess and any surcharge, charged by total income after deductions, with marginal relief at each surcharge threshold (capped at 25% under the New Regime).
Multiple deduction sections
Separate input fields for 80C, 80D, 80CCD(1B), HRA, and other deductions give you granular control instead of a single lump-sum deduction field.
Age-group support
Applies the Old Regime basic exemption for your age: Rs 2.5 lakh below 60, Rs 3 lakh for senior citizens (60 to 79) and Rs 5 lakh for super senior citizens (80 and above). The New Regime slabs are the same at every age.
New Tax Regime — Slab Rates for FY 2026-27
New Tax Regime slab rates for FY 2026-27 (section 202 of the Income-tax Act, 2025).
| Income Range | Tax Rate |
|---|---|
| Up to Rs 4,00,000 | 0% |
| Rs 4,00,001 - Rs 8,00,000 | 5% |
| Rs 8,00,001 - Rs 12,00,000 | 10% |
| Rs 12,00,001 - Rs 16,00,000 | 15% |
| Rs 16,00,001 - Rs 20,00,000 | 20% |
| Rs 20,00,001 - Rs 24,00,000 | 25% |
| Above Rs 24,00,000 | 30% |
Plus 4% Health and Education Cess on tax and surcharge. Surcharge applies for total income above Rs 50 lakh.
Old vs New Regime — Feature Comparison
| Feature | Old Regime | New Regime |
|---|---|---|
| Standard Deduction | Rs 50,000 | Rs 75,000 |
| Section 80C (ELSS, PPF, EPF, etc.) | Up to Rs 1.5L | Not available |
| Section 80D (Health Insurance) | Up to Rs 1L | Not available |
| Section 80CCD(1B) — NPS | Up to Rs 50K | Not available |
| HRA Exemption | Available | Not available |
| Home Loan Interest (80EEA) | Up to Rs 2L | Not available |
| Basic Exemption (Below 60) | Rs 2.5L | Rs 4L (via slab) |
| Rebate (s.156; s.87A of the 1961 Act) | Rs 12,500 (up to Rs 5L) | Rs 60,000 (up to Rs 12L) |
| Default Regime | Must opt in | Default (opt out for Old) |
New Regime — Key Figures for FY 2026-27
Zero Tax Up to Rs 12.75L
Salaried individuals earning up to Rs 12.75 lakh gross salary pay zero tax under the New Regime, thanks to the Rs 75,000 standard deduction and the Rs 60,000 rebate under section 156 (section 87A of the 1961 Act).
New Regime Is Default
The New Tax Regime is now the default for all taxpayers. You must explicitly opt out and choose the Old Regime while filing your ITR if you want to claim deductions under 80C, 80D, HRA, etc.
Revised Slab Structure
The New Regime now has 7 slabs with rates from 0% to 30%. The 0% slab extends up to Rs 4 lakh.
Frequently Asked Questions
This income tax calculator provides illustrative estimates only and is not a substitute for professional tax advice. Tax calculations use the slab rates for FY 2026-27 under the Finance Act 2026. Surcharge and 4% Health and Education Cess are included. The calculator does not account for capital gains, income from house property (other than HRA), special rate incomes, or any exemptions beyond the standard deduction. Actual tax liability may vary based on your complete financial situation. Please consult a qualified tax professional or chartered accountant for personalised advice before making any tax-related decisions.
Save More Tax?
Our experts can help you optimize your tax-saving investments with ELSS and NPS.
Smart Tax Planning Tips
Tax-Saving Tips
- → Max out Section 80C with ELSS for tax-free equity exposure
- → Invest Rs 50,000 in NPS for extra 80CCD(1B) deduction
- → Get health insurance for 80D benefits (Rs 25K-Rs 1L)
- → Compare both regimes annually — your optimal choice may change