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Income tax calculator India (FY 2026-27)

Enter your salary to see your income tax under the new regime and the old regime side by side for FY 2026-27 — with the ₹75,000 standard deduction, the rebate that makes income up to ₹12 lakh tax-free, surcharge, 4% cess, your monthly TDS and which regime saves you more.

1Your income

Your total taxable salary for the year before any deduction — basic, DA, HRA, allowances and bonus (your CTC minus the employer's PF share).

Optional. Savings and FD interest, rent and other income taxed at slab rates. Leave out capital gains — they have their own rates.

The new regime is the default. Salaried people can choose the old regime each year when filing the return.

2House rent allowance (old regime only)

Optional. Only needed for the HRA exemption.

Optional. The house rent allowance on your payslip, for the whole year.

Optional. The rent you actually pay. No HRA exemption without rent.

3Deductions (old regime only)

Optional. EPF, PPF, ELSS, life insurance, home loan principal, children's tuition fees…

Optional. Up to ₹25,000, or ₹50,000 if you are 60 or over.

Optional. Up to ₹25,000, or ₹50,000 if a parent is 60 or over.

Optional. Extra NPS contribution on top of the 80C limit.

Optional. Interest paid in the year on a loan for the house you live in.

Optional. For example 80E education-loan interest, 80G donations, 80TTA savings interest, professional tax.

Your results

Your results appear here

Type your measurements in the empty boxes. Still needed:

  • Gross salary per year (₹)
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How do I calculate my income tax in India?

  1. 1Enter your gross salary per year or per month, and any other income.
  2. 2Pick your age group and the regime you plan to use.
  3. 3For the old regime, add your HRA, 80C, 80D, NPS and home-loan figures (the new regime ignores them).
  4. 4Compare the tax under both regimes, then read your monthly TDS and take-home pay.

Income tax slabs for FY 2026-27 (new and old regime)

  1. 01New regime: taxable income = salary − ₹75,000 standard deduction + other income
  2. 02Slabs (new): 0–4L 0% · 4–8L 5% · 8–12L 10% · 12–16L 15% · 16–20L 20% · 20–24L 25% · above 24L 30%
  3. 03Rebate (new): taxable income up to ₹12,00,000 → tax nil (rebate up to ₹60,000); just above, tax ≤ income above ₹12 lakh
  4. 04Old regime: taxable = salary − ₹50,000 − HRA exemption − 80C − 80D − 80CCD(1B) − home-loan interest; slabs 0–2.5L 0% · 2.5–5L 5% · 5–10L 20% · above 10L 30% (rebate up to ₹12,500 to ₹5 lakh)
  5. 05Surcharge above ₹50L 10% · ₹1Cr 15% · ₹2Cr 25% · ₹5Cr 37% (new regime capped at 25%), with marginal relief
  6. 06Total tax = (slab tax − rebate + surcharge) × 1.04 (4% health and education cess)

India taxes income in slabs: each rate applies only to the part of your income inside that slab. From FY 2025-26 the new regime has wider slabs, and Budget 2026 kept them for FY 2026-27. With the ₹75,000 standard deduction and a rebate of up to ₹60,000, a salary of up to ₹12.75 lakh pays no tax at all in the new regime.

The old regime has higher rates but lets you claim deductions such as 80C (₹1.5 lakh), 80D health insurance, NPS, HRA and home-loan interest. It only wins when those deductions are large, which is why this calculator works out both and tells you which is cheaper.

Since 1 April 2026 the Income-tax Act 2025 has replaced the 1961 Act: the rebate is now in section 156 (it was 87A) and the new-regime rates are in section 202, but the amounts are the same. From FY 2026-27, Bengaluru, Hyderabad, Pune and Ahmedabad count as metro cities for HRA. Surcharge applies to very high incomes, and marginal relief makes sure crossing a threshold never costs more than the extra income.

Income tax calculation example for FY 2026-27

On a salary of 1,500,000 a year with 150,000 in 80C, 25,000 health insurance and HRA, the new regime costs 97,500 and the old regime 146,640.

The new regime saves 49,140 a year; the monthly TDS is about 8,125.

Good to know

  • Most salaried people now pay less in the new regime — try the old regime only if your 80C, HRA, 80D and home-loan deductions add up to several lakh.
  • Tell your employer which regime you want at the start of the year so the monthly TDS matches; you can still switch when you file the return.
  • Just above ₹12 lakh of taxable income, marginal relief keeps your tax no higher than the income above ₹12 lakh.
  • Keep rent receipts and investment proofs — the old regime needs them.

Income tax in India — common questions

Is income up to ₹12 lakh tax-free in FY 2026-27?

Yes, in the new regime. Taxable income up to ₹12,00,000 gets a rebate of up to ₹60,000, so the tax is nil. A salaried person also gets the ₹75,000 standard deduction, so a salary of up to ₹12.75 lakh pays no tax. Special-rate income such as capital gains does not get the rebate.

Which is better, the new or the old tax regime?

It depends on your deductions. The new regime has lower rates and a ₹75,000 standard deduction but almost no other deductions. The old regime wins only when HRA, 80C, 80D, NPS and home-loan interest together are large. This calculator works out both for your numbers.

How much tax do I pay on a salary of 15 lakh?

In the new regime, taxable income is ₹14,25,000: ₹60,000 for the first ₹12 lakh plus 15% of ₹2,25,000 (₹33,750) = ₹93,750, plus 4% cess = ₹97,500 a year, about ₹8,125 a month.

Did Budget 2026 change the income tax slabs?

No. Budget 2026 (1 February 2026) kept the slabs, the ₹75,000 standard deduction and the ₹12 lakh rebate limit of FY 2025-26. The new Income-tax Act 2025 took effect on 1 April 2026 with new section numbers but the same amounts.

How is TDS on salary worked out?

Your employer estimates your tax for the whole year under the regime you chose, then deducts about one twelfth each month. If your income or investments change, the later months are adjusted.

What is marginal relief?

It stops a small rise in income from causing a big jump in tax. Just above ₹12 lakh (new regime), your tax cannot exceed the income above ₹12 lakh; at the surcharge thresholds (₹50 lakh, ₹1 crore…), tax plus surcharge cannot rise by more than the extra income.

Sources

Formulas last reviewed: September 30, 2026 ·How we check our formulas

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