Income Tax Calculator
Compute your income tax for FY 2026-27 under the new or old regime, and see which costs less.
- Tax at slab rates, after rebate
- ₹1,05,000.00
- Surcharge
- ₹0.00
- Health & education cess (4%)
- ₹4,200.00
- Total tax
- ₹1,09,200.00
- New regime (cheaper)
- ₹1,09,200.00
- Old regime
- ₹2,73,000.00
- Tax at slab rates, after rebate
- ₹1,05,000.00
- Health & education cess
- ₹4,200.00
FY 2026-27 (AY 2027-28). The new regime is the default since AY 2024-25. This comparison assumes the same taxable income under both regimes — in practice the old regime allows deductions (80C, HRA and others) that the new one does not, so compare using each regime's own taxable income. Old-regime slabs shown are for an individual below 60; the basic exemption is ₹3 lakh for ages 60–79 and ₹5 lakh for 80+. Income taxed at special rates (§111A short-term and §112A long-term capital gains) is not covered here — the §87A rebate is not available against it. Rates are revised by the annual budget — verify before relying on this.
Independent · No commissions · No fund-house data — how the numbers are computed
How it works
This calculator computes Indian personal income tax on a taxable income — income after all deductions — under either the new or the old regime, for FY 2026-27 (AY 2027-28). It applies the slab rates, the §87A rebate, marginal relief where it applies, surcharge on high incomes, and the 4% health and education cess, then shows the total tax and effective rate side by side for both regimes.
Under the new regime for FY 2026-27, as this calculator applies, income up to ₹4 lakh is tax-free, then slabs of 5% (₹4–8L), 10% (₹8–12L), 15% (₹12–16L), 20% (₹16–20L), 25% (₹20–24L) and 30% above ₹24 lakh. The §87A rebate of up to ₹60,000 makes taxable income up to ₹12 lakh effectively tax-free, with marginal relief just above that cliff. The old regime keeps its ₹2.5 lakh exemption, 5% to ₹5L, 20% to ₹10L and 30% beyond, with a ₹12,500 rebate at incomes up to ₹5 lakh.
Surcharge applies above ₹50 lakh at 10%, rising to 15%, 25% and 37% at ₹1 crore, ₹2 crore and ₹5 crore — capped at 25% under the new regime — with marginal relief at each threshold so a rupee of extra income can never cost more than a rupee of extra tax. The result is an estimate: income taxed at special rates, such as capital gains under §111A and §112A, is outside its scope.
Frequently asked questions
Old regime or new regime — who saves more?
It depends on deductions. The new regime for FY 2026-27 has lower slab rates and a ₹60,000 §87A rebate that zeroes tax up to ₹12 lakh of taxable income, but disallows most deductions (80C, HRA and others). The old regime has higher rates but allows those deductions. Broadly, taxpayers with large deductions relative to income can come out ahead on the old regime; those with few deductions usually pay less under the new one. This calculator shows both regimes' tax for the same income side by side.
Is income up to ₹12 lakh really tax-free in FY 2026-27?
Under the new regime, effectively yes — for taxable income up to ₹12 lakh, the §87A rebate (up to ₹60,000) cancels the slab tax, so nothing is payable. Slightly above ₹12 lakh, marginal relief caps the tax at the income above the threshold: at ₹12,10,000 the tax works out to ₹10,400 rather than the ₹63,960 the slabs alone would produce. The rebate does not apply against income taxed at special rates, such as capital gains.
What are the new regime slabs for FY 2026-27?
For FY 2026-27 (AY 2027-28) the new regime taxes income in slabs: nil up to ₹4 lakh, 5% from ₹4–8 lakh, 10% from ₹8–12 lakh, 15% from ₹12–16 lakh, 20% from ₹16–20 lakh, 25% from ₹20–24 lakh, and 30% above ₹24 lakh. A 4% health and education cess is added to the tax, and surcharge applies on taxable income above ₹50 lakh.
What is surcharge on income tax, and when does it apply?
Surcharge is an extra levy on the tax (not on the income) for high earners. For FY 2026-27 it is 10% of the tax when taxable income exceeds ₹50 lakh, 15% above ₹1 crore, 25% above ₹2 crore, and 37% above ₹5 crore — but under the new regime the rate is capped at 25%. Marginal relief at each threshold ensures crossing it cannot cost more in tax than the income earned above it.
What is the health and education cess?
The health and education cess is a 4% levy added on top of income tax plus surcharge, applied identically under both regimes. It is computed last: slab tax, minus the §87A rebate, plus surcharge, and then 4% of that sum is added as cess. On a tax-plus-surcharge amount of ₹1,00,000 the cess is ₹4,000, making the total payable ₹1,04,000.
Does this calculator handle capital gains tax?
No. It computes tax on regular taxable income at slab rates only. Income taxed at special rates — short-term capital gains under §111A and long-term capital gains under §112A, which apply to equity mutual funds and listed shares — is outside its scope, and the §87A rebate is not available against such income. Equity fund gains are taxed separately at their own STCG and LTCG rates.
Go further
Go from CTC to take-home — it applies these same FY 2026-27 slabs after the standard deduction.
The HRA exemption that reduces taxable income under the old regime.
Tax deducted at source before income reaches you, section by section.
How the ₹1.5 lakh 80C deduction works and where ELSS funds fit.
The STCG/LTCG rules this calculator deliberately leaves out.