Income Tax Calculator
Your income tax for 2026-27 under the new and old regimes, side by side, with every slab shown.
Your tax · 2026-27
The new regime is cheaper by ₹1,59,900 a year. The old regime only wins if your deductions beyond the standard deduction exceed about ₹5,43,800.
How it’s worked out
- Gross income
- ₹15,00,000
- − Standard deduction
- ₹75,000
- Taxable income
- ₹14,25,000
| Slab | Rate | Tax |
|---|---|---|
| 0 – 4 lakh | Nil | ₹0 |
| 4 lakh – 8 lakh | 5% | ₹20,000 |
| 8 lakh – 12 lakh | 10% | ₹40,000 |
| 12 lakh – 16 lakh | 15% | ₹33,750 |
| 16 lakh – 20 lakh | 20% | ₹0 |
| 20 lakh – 24 lakh | 25% | ₹0 |
| Above 24 lakh | 30% | ₹0 |
- Tax on slabs
- ₹93,750
- + Health and education cess (4%)
- ₹3,750
- Total tax
- ₹97,500
Your income
Old-regime deductionsoptional
These lower tax only in the old regime. Limits are applied for you.
How is this calculated?
New regime (s.202): 0–4L nil · 4–8L 5% · 8–12L 10% · 12–16L 15% · 16–20L 20% · 20–24L 25% · above 24L 30%
Old regime: 0–2.5L nil (3L at 60+, 5L at 80+) · to 5L 5% · 5–10L 20% · above 10L 30%
Rebate (s.156, residents): new — up to ₹60,000 if income ≤ ₹12L, with marginal relief above; old — up to ₹12,500 if income ≤ ₹5L
Surcharge: 10% above ₹50L · 15% above ₹1Cr · 25% above ₹2Cr (old regime 37% above ₹5Cr), with marginal relief
Total tax = (slab tax − rebate + surcharge) × 1.04 cess, rounded to the nearest ₹10Runs in your browser — nothing you enter leaves this device.
An estimate based on the Income-tax Act, 2025 and Finance Bill, 2026 rates for tax year 2026-27. Your actual liability depends on your full return. For anything unusual, check with a chartered accountant or the Income Tax Department. Not tax advice.
About this tool
What it does
This calculator works out income tax for tax year 2026-27 (1 April 2026 to 31 March 2027) under both regimes, side by side, and shows every step. The new regime is the default under section 202 of the Income-tax Act, 2025, which took effect on 1 April 2026. The Finance Bill, 2026 left the rates unchanged from 2025-26, so income up to ₹12 lakh still pays no tax in the new regime — ₹12.75 lakh for salaried people once the ₹75,000 standard deduction is counted. Enter your salary and any other income. If you have old-regime deductions, add them to see which regime costs less and by how much.
How to use it
- Enter your gross salary or pension for the year — before the standard deduction, which is applied for you.
- Add other income taxed at normal rates: savings and FD interest, rent after its 30% deduction, freelance or business profit.
- Choose your age band and residential status. Age changes only the old-regime slabs; non-residents get no rebate.
- If you invest or pay a home loan, open “Old-regime deductions” and enter the amounts. Anything above a legal limit is capped automatically.
- Compare the two totals. The cheaper regime is highlighted. The working below shows each slab, the rebate, surcharge and cess.
- Copy the link to save or share this calculation — the amounts are stored in the address, nowhere else.
Limits and your data
- Covers income taxed at slab rates only. Capital gains, dividends taxed at special rates, lottery winnings and crypto income have separate rates and are not included.
- Your employer’s contribution to NPS (deductible in both regimes, up to 14% of basic pay plus DA in the new regime) is not included; subtract it from your salary figure to account for it.
- Exempt allowances such as HRA and LTA are old-regime benefits. Work out the exempt part yourself and enter it under “Other deductions”.
- Deductions are taken at the amounts you enter within the fixed limits shown. Health-insurance and donation limits depend on your circumstances, so enter only what you are entitled to claim.
- A person with business income who opts out of the new regime can switch back only once. Check the rules before choosing.
- For Hindu undivided families, firms and companies, other rules apply. This calculator is for individuals.
- Everything is calculated in your browser. Your salary and deductions are not sent to SmartTools or anyone else, and nothing is stored. The amounts only leave your device if you copy the page link and share it yourself — so think before sending that link.
Questions
Is income up to ₹12 lakh really tax-free?
In the new regime, yes, for residents. Slab tax on ₹12 lakh is ₹60,000, and section 156 gives a rebate of up to ₹60,000. Salaried people also get the ₹75,000 standard deduction, so a salary of ₹12.75 lakh pays nothing. The rebate does not cover income taxed at special rates, such as some capital gains.
What happens if I earn a little more than ₹12 lakh?
Marginal relief applies: your tax cannot be more than the income above ₹12 lakh. At a taxable income of ₹12.1 lakh, slab tax would be ₹61,500, but you pay only ₹10,000 plus cess. The relief tapers off at about ₹12.7 lakh taxable.
Which regime should I choose?
The new regime has lower rates but almost no deductions. The old regime only wins if your deductions are large — 80C investments, home-loan interest, HRA and health insurance together. The calculator shows the deduction total at which the old regime would break even for your income.
Do salaried employees have to choose every year?
A salaried person without business income can pick either regime each year when filing the return. Your employer asks for your choice to deduct TDS, but the return decides. People with business income have a one-time switch-back limit.
Is this the same as FY 2026-27 or AY 2027-28?
Yes. The Income-tax Act, 2025 replaced “previous year” and “assessment year” with a single “tax year”. Tax year 2026-27 is what used to be called financial year 2026-27 (assessment year 2027-28). You file its return in 2027.
Where do these figures come from?
From the Income-tax Act, 2025 — section 202 for new-regime slabs, 19 for the standard deduction, 22 for home-loan interest, 123 and 124 for 80C and NPS, 156 for the rebate — and the rates in the Finance Bill, 2026 for tax year 2026-27, including surcharge and the 4% cess.