Income Tax Calculator India (2026-27) – New vs Old Tax Regime
⚖ Zero Tax up to ₹12.75 Lakh (Salaried, New Regime)
Income Tax Calculator – FY 2026-27 (AY 2027-28)
💵 Income Details
Annual Gross Salary / Income ₹10,00,000
Age Category Below 60
📋 Deductions (Old Regime Only)
Section 80C (EPF, PPF, ELSS, LIC etc.) ₹1,50,000
Maximum: ₹1,50,000 · Investing in PPF is one of the most popular ways to fill this limit
Section 80D (Health Insurance) ₹25,000
Self: max ₹25,000 | Senior citizen parents: max ₹50,000
HRA Exemption ₹0
Use HRA calculator if unsure – varies by city & rent paid
Home Loan Interest (Sec 24b) ₹0
Self-occupied property: max ₹2,00,000
NPS Contribution 80CCD(1B) ₹0
Additional deduction over 80C – max ₹50,000
Other Deductions (80G, 80E, LTA etc.) ₹0
Tax Payable – New Regime
₹–
New Tax Regime
Gross Income₹–
Standard Deduction– ₹75,000
Taxable Income₹–
Tax Before Cess₹–
Rebate u/s 87A₹0
Cess (4%)₹–
Total Tax (New)₹–
Old Tax Regime
Total Deductions₹–
Taxable Income₹–
Tax Before Cess₹–
Rebate u/s 87A₹0
Cess (4%)₹–
Total Tax (Old)₹–
⚖ Which Regime Saves More?
New Regime Tax₹–
Old Regime Tax₹–
Tax Saving₹–
Better Regime—
Enter income and click Calculate Tax.
Tax vs Take-Home (New Regime)
Take-Home
Tax
How to Use This Income Tax Calculator
This calculator computes your income tax simultaneously under both the New and Old Tax Regimes and instantly tells you which one saves more money. Enter your details once — get both results in a single click.
- Annual Gross Salary: Enter your total annual income before any deductions or TDS.
- Age Category: Senior citizens (60–79) and super senior citizens (80+) have higher basic exemption under the Old Regime.
- Deductions (Old Regime only): Enter your actual 80C investments (EPF, PPF, ELSS etc.), health insurance, HRA, home loan interest, NPS, and other eligible deductions. These do not apply under the New Regime.
- Click Calculate Tax: Get tax under both regimes, CGST/SGST breakdown, rebate, cess, and a clear winner — all instantly.
👉 Note: The calculator uses standard deduction of ₹75,000 for New Regime and ₹50,000 for Old Regime (salaried). Section 87A rebate of ₹60,000 is applied automatically for New Regime when taxable income is ₹12 lakh or below. All figures include 4% Health & Education Cess.
New Tax Regime – Income Tax Slabs FY 2026-27
The New Tax Regime is the default regime from FY 2023-24 onwards. It offers lower slab rates but does not allow most deductions. Salaried individuals get ₹75,000 standard deduction and zero tax up to ₹12.75 lakh gross salary.
| Income Slab | Tax Rate | Tax on Slab | Cumulative Tax |
|---|---|---|---|
| Up to ₹4,00,000 | Nil | ₹0 | ₹0 |
| ₹4,00,001 – ₹8,00,000 | 5% | ₹20,000 | ₹20,000 |
| ₹8,00,001 – ₹12,00,000 | 10% | ₹40,000 | ₹60,000 |
| ₹12,00,001 – ₹16,00,000 | 15% | ₹60,000 | ₹1,20,000 |
| ₹16,00,001 – ₹20,00,000 | 20% | ₹80,000 | ₹2,00,000 |
| ₹20,00,001 – ₹24,00,000 | 25% | ₹1,00,000 | ₹3,00,000 |
| Above ₹24,00,000 | 30% | On balance | ₹3,00,000 + 30% |
★ Zero Tax for Salaried: Gross salary up to ₹12,75,000 = zero tax. Standard deduction ₹75,000 brings taxable income to ₹12,00,000. Section 87A rebate of ₹60,000 eliminates the entire tax on ₹12L taxable income.
Senior citizens (60–79 years) have the same slabs under New Regime as general category. The basic exemption difference applies only under Old Regime.
| Income Slab | Tax Rate | Cumulative Tax |
|---|---|---|
| Up to ₹4,00,000 | Nil | ₹0 |
| ₹4,00,001 – ₹8,00,000 | 5% | ₹20,000 |
| ₹8,00,001 – ₹12,00,000 | 10% | ₹60,000 |
| ₹12,00,001 – ₹16,00,000 | 15% | ₹1,20,000 |
| ₹16,00,001 – ₹20,00,000 | 20% | ₹2,00,000 |
| ₹20,00,001 – ₹24,00,000 | 25% | ₹3,00,000 |
| Above ₹24,00,000 | 30% | ₹3,00,000 + 30% |
Super senior citizens (80+ years) enjoy a higher basic exemption of ₹5,00,000 under the Old Regime. Under New Regime, same slabs as above apply.
| Income Slab | Tax Rate | Cumulative Tax |
|---|---|---|
| Up to ₹4,00,000 | Nil | ₹0 |
| ₹4,00,001 – ₹8,00,000 | 5% | ₹20,000 |
| ₹8,00,001 – ₹12,00,000 | 10% | ₹60,000 |
| ₹12,00,001 – ₹16,00,000 | 15% | ₹1,20,000 |
| ₹16,00,001 – ₹20,00,000 | 20% | ₹2,00,000 |
| ₹20,00,001 – ₹24,00,000 | 25% | ₹3,00,000 |
| Above ₹24,00,000 | 30% | ₹3,00,000 + 30% |
Old Tax Regime – Income Tax Slabs FY 2026-27
The Old Tax Regime has higher slab rates but allows a wide range of deductions — 80C, HRA, home loan interest, NPS, LTA etc. It is beneficial if your total deductions exceed approximately ₹3.75 lakh.
| Income Slab | Tax Rate | Tax on Slab | Cumulative Tax |
|---|---|---|---|
| Up to ₹2,50,000 | Nil | ₹0 | ₹0 |
| ₹2,50,001 – ₹5,00,000 | 5% | ₹12,500 | ₹12,500 |
| ₹5,00,001 – ₹10,00,000 | 20% | ₹1,00,000 | ₹1,12,500 |
| Above ₹10,00,000 | 30% | On balance | ₹1,12,500 + 30% |
💬 87A Rebate (Old Regime): Taxable income up to ₹5,00,000 gets a rebate of ₹12,500, making effective tax zero. With ₹50K std deduction + ₹1.5L 80C + ₹50K NPS, gross income up to ₹7.5 lakh can be reduced to ₹5L taxable — zero tax.
| Income Slab | Tax Rate | Tax on Slab | Cumulative Tax |
|---|---|---|---|
| Up to ₹3,00,000 | Nil | ₹0 | ₹0 |
| ₹3,00,001 – ₹5,00,000 | 5% | ₹10,000 | ₹10,000 |
| ₹5,00,001 – ₹10,00,000 | 20% | ₹1,00,000 | ₹1,10,000 |
| Above ₹10,00,000 | 30% | On balance | ₹1,10,000 + 30% |
Senior citizens get a higher basic exemption of ₹3,00,000 under Old Regime. They are also exempt from advance tax if income is only from pension and interest.
| Income Slab | Tax Rate | Tax on Slab | Cumulative Tax |
|---|---|---|---|
| Up to ₹5,00,000 | Nil | ₹0 | ₹0 |
| ₹5,00,001 – ₹10,00,000 | 20% | ₹1,00,000 | ₹1,00,000 |
| Above ₹10,00,000 | 30% | On balance | ₹1,00,000 + 30% |
Super senior citizens (80+) enjoy the highest basic exemption of ₹5,00,000 under Old Regime — no tax and no rebate required up to ₹5L taxable income.
New vs Old Tax Regime – Full Comparison (FY 2026-27)
| Feature | New Tax Regime | Old Tax Regime |
|---|---|---|
| Basic Exemption | ₹4,00,000 | ₹2,50,000 (₹3L senior, ₹5L super senior) |
| Standard Deduction | ₹75,000 | ₹50,000 |
| 87A Rebate Limit | ₹12,00,000 (rebate: ₹60,000) | ₹5,00,000 (rebate: ₹12,500) |
| Zero Tax (Salaried) | Up to ₹12,75,000 | Up to ₹7,50,000 (with full deductions) |
| Section 80C (₹1.5L) | Not Available | Available |
| Section 80D | Not Available | Available |
| HRA Exemption | Not Available | Available |
| Home Loan Interest 24(b) | Not Available | Up to ₹2,00,000 |
| NPS 80CCD(1B) | Not Available | Up to ₹50,000 |
| LTA Exemption | Not Available | Available |
| Default Regime | Yes (since FY 2023-24) | Must be opted explicitly |
| Best For | Deductions < ₹3.75L or income below ₹12.75L | High deductions (HRA + 80C + HL > ₹3.75L) |
💬 How to switch: Declare Old Regime to your employer before April 30 each year, or opt for it while filing ITR. Salaried employees can switch every year. Business owners can switch only once from Old to New Regime.
Who Pays Zero Income Tax in FY 2026-27?
| Category | Regime | Zero Tax Up To | How |
|---|---|---|---|
| Salaried (Below 60) | New Regime | ₹12,75,000 | ₹75,000 std deduction + ₹60,000 rebate 87A on ₹12L taxable |
| Non-Salaried (Below 60) | New Regime | ₹12,00,000 | ₹60,000 rebate u/s 87A on ₹12L taxable income |
| Salaried (Below 60) | Old Regime | ₹7,50,000 | ₹50K std + ₹1.5L 80C + ₹50K NPS + rebate 87A |
| Senior Citizen (60–79) | Old Regime | ₹8,00,000+ | ₹3L exemption + ₹1.5L 80C + ₹50K NPS + rebate + 80D |
| Super Senior (80+) | Old Regime | ₹5,00,000+ | ₹5L basic exemption — no rebate needed, no tax up to ₹5L |
💥 Cliff Effect Warning: The ₹12.75L zero-tax benefit is a rebate, not an exemption. If your income is ₹12,76,000 (just ₹1,000 above), the rebate disappears and you pay full tax on ₹12,01,000 taxable income. Plan carefully near this threshold.
Complete Deductions Guide – Old Tax Regime FY 2026-27
| Section | Deduction | Max Limit | Who Can Claim |
|---|---|---|---|
| Standard Deduction | Flat deduction – salaried & pensioners | ₹50,000 | All salaried & pensioners |
| Section 80C | EPF, PPF, ELSS, LIC, home loan principal, tuition fees, NSC, SCSS | ₹1,50,000 | All individuals & HUF |
| Section 80CCD(1B) | NPS Tier I (additional, over 80C) | ₹50,000 | All individuals |
| Section 80D | Health insurance premium – self/family | ₹25,000 (₹50,000 senior) | All individuals |
| Section 80D | Health insurance – senior citizen parents | ₹50,000 | Individuals with senior parents |
| Section 24(b) | Home loan interest (self-occupied) | ₹2,00,000 | Home loan borrowers |
| HRA Exemption | House Rent Allowance (least of 3 conditions) | Varies by salary & city | Salaried with HRA component |
| Section 80G | Donations to approved charities | 50% or 100% of donation | All individuals |
| Section 80E | Education loan interest | No limit (for 8 years) | Loan for higher education |
| Section 80TTA | Interest on savings bank account | ₹10,000 | Individuals below 60 |
| Section 80TTB | Interest on all deposits (savings + FD + RD) | ₹50,000 | Senior citizens (60+) only |
Maximum combined deduction (salaried, without HRA): Std ₹50K + 80C ₹1.5L + NPS ₹50K + 80D ₹75K + Sec 24b ₹2L = ₹5,25,000. With HRA, can exceed ₹7–8 lakhs.
💵 Planning your Section 80C investments? PPF (Public Provident Fund) is one of the safest ways to use up your full ₹1,50,000 80C limit — it offers 7.1% p.a. guaranteed, tax-free interest and a tax-free maturity amount (EEE status). Use our PPF Calculator to see exactly how much your PPF investment will grow to by maturity, year-by-year.
Which Tax Regime Should You Choose in 2026-27?
The answer depends on your total eligible deductions. Here is a simple framework:
| Gross Annual Income | Deductions Needed for Old Regime to Win | Otherwise Choose |
|---|---|---|
| Up to ₹12,75,000 | N/A — zero tax in New Regime | New Regime always |
| ₹13,00,000 | Deductions > ₹5.25 lakh | New Regime |
| ₹15,00,000 | Deductions > ₹3.75 lakh | Depends on deductions |
| ₹20,00,000 | Deductions > ₹4.25 lakh | Depends on deductions |
| ₹25,00,000 | Deductions > ₹4.75 lakh | Depends on deductions |
| Above ₹50,00,000 | Old regime with max deductions | Old Regime (high deductions) |
- Income below ₹12.75L (salaried)? New Regime — zero tax, no comparison needed.
- Paying rent + home loan both? Old Regime likely better — HRA + 80C + 24(b) add up quickly.
- No HRA, no home loan, no parents’ health insurance? New Regime is almost always better.
- NPS subscriber? The extra ₹50K 80CCD(1B) deduction only works in Old Regime — check if it tips the balance.
💡 Use the calculator above: Enter your exact income and deductions. The calculator compares both regimes simultaneously and tells you the winner and exact tax saving — no manual calculation needed.
Frequently Asked Questions – Income Tax India 2026-27
What are the income tax slabs for FY 2026-27 under New Tax Regime?
Under New Regime FY 2026-27: Up to ₹4L — Nil; ₹4–8L — 5%; ₹8–12L — 10%; ₹12–16L — 15%; ₹16–20L — 20%; ₹20–24L — 25%; Above ₹24L — 30%. Salaried individuals get ₹75,000 standard deduction. Section 87A rebate of ₹60,000 makes effective tax zero for taxable income up to ₹12 lakh — so gross salary up to ₹12,75,000 = zero tax.
Is income up to ₹12 lakh tax free in FY 2026-27?
Yes — but only under the New Tax Regime. Section 87A rebate of ₹60,000 is available for taxable income up to ₹12,00,000. For salaried individuals with ₹75,000 standard deduction, gross income up to ₹12,75,000 results in zero tax. Important: if income exceeds ₹12,75,000 by even ₹1, the rebate is lost entirely (cliff effect) — full tax applies on ₹12,01,000 taxable income.
What is surcharge on income tax and who pays it?
Surcharge is an additional levy on income tax (not on income) for high earners: 10% for income ₹50L–₹1Cr; 15% for ₹1–2Cr; 25% for ₹2–5Cr; 37% for above ₹5Cr (capped at 25% under New Regime for most income types). Health and Education Cess of 4% applies on (tax + surcharge). This calculator computes surcharge for income up to ₹1 crore automatically.
Can I switch between New and Old Tax Regime every year?
Salaried individuals can switch every year — declare your choice to your employer at the start of the financial year or change it at the time of ITR filing. Business owners have limited flexibility — once they opt out of the New Regime, they can return to it only once. Salaried employees often make a different declaration to employer vs ITR — ITR filing choice is the final one.
What is the ITR filing deadline for FY 2026-27?
The standard ITR filing deadline for FY 2026-27 (AY 2027-28) is July 31, 2027 for most individuals (salaried, freelancers, individuals not requiring audit). For businesses requiring tax audit, the deadline is October 31, 2027. Belated returns can be filed until December 31, 2027 with a late fee of ₹5,000 (₹1,000 if income below ₹5 lakh). Filing after the deadline also means losses cannot be carried forward.
How is HRA exemption calculated?
HRA exemption (Old Regime only) is the minimum of three values: (1) Actual HRA received; (2) Actual rent paid minus 10% of Basic Salary + DA; (3) 50% of Basic + DA if metro city or 40% for non-metro. Example: Basic ₹40,000/month, HRA ₹20,000/month, rent paid ₹18,000/month in Mumbai. (1) ₹20,000; (2) ₹18,000 – ₹4,000 = ₹14,000; (3) 50% of ₹40,000 = ₹20,000. Minimum = ₹14,000/month = ₹1,68,000/year is exempt.