Income Tax Calculator India (FY 2026-27, New vs Old Regime)
By Santaji GadepatilinUpdated October 27, 2026
Income tax in India can be paid under the new or the old regime, with different slabs and deductions. Comparing both shows which one costs you less.
How to use the Income tax calculator
- Enter your gross annual income — salary before deductions, plus interest and other income.
- Choose salary or pension to apply the standard deduction (₹75,000 new, ₹50,000 old).
- Enter the deductions you can claim under the old regime: 80C (PPF, ELSS, EPF, life insurance), 80D (health insurance), home loan interest, HRA exemption and so on.
You see the tax under both regimes, including the 4% health and education cess, and how much the new regime saves you.
New regime slabs (FY 2026-27)
| Taxable income | Rate |
|---|---|
| Up to ₹4,00,000 | Nil |
| ₹4,00,001 – ₹8,00,000 | 5% |
| ₹8,00,001 – ₹12,00,000 | 10% |
| ₹12,00,001 – ₹16,00,000 | 15% |
| ₹16,00,001 – ₹20,00,000 | 20% |
| ₹20,00,001 – ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
- Standard deduction: ₹75,000 for salary and pension.
- Rebate: tax is nil if taxable income is up to ₹12,00,000 (rebate up to ₹60,000), with marginal relief just above it.
- Cess: 4% on tax plus surcharge.
- The new regime is the default. You must opt out to use the old regime.
Old regime slabs (below 60 years)
| Taxable income | Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Rebate makes tax nil up to ₹5,00,000 of taxable income. Senior citizens have higher exemption limits (₹3 lakh, or ₹5 lakh above 80), which this calculator does not apply.
Worked example
Salary of ₹15,00,000, deductions of ₹2,00,000:
New regime
- Taxable = 15,00,000 − 75,000 = ₹14,25,000
- Tax = 20,000 + 40,000 + 33,750 = ₹93,750
- Plus 4% cess = ₹97,500
Old regime
- Taxable = 15,00,000 − 50,000 − 2,00,000 = ₹12,50,000
- Tax = 12,500 + 1,00,000 + 75,000 = ₹1,87,500
- Plus 4% cess = ₹1,95,000
The new regime saves ₹97,500 here.
Tax at different salaries (new regime)
| Salary | Taxable | Tax incl. cess | Per month | Effective rate |
|---|---|---|---|---|
| ₹7,00,000 | ₹6,25,000 | ₹0 | ₹0 | 0.0% |
| ₹10,00,000 | ₹9,25,000 | ₹0 | ₹0 | 0.0% |
| ₹12,75,000 | ₹12,00,000 | ₹0 | ₹0 | 0.0% |
| ₹15,00,000 | ₹14,25,000 | ₹97,500 | ₹8,125 | 6.5% |
| ₹20,00,000 | ₹19,25,000 | ₹1,92,400 | ₹16,033 | 9.6% |
| ₹25,00,000 | ₹24,25,000 | ₹3,19,800 | ₹26,650 | 12.8% |
| ₹30,00,000 | ₹29,25,000 | ₹4,75,800 | ₹39,650 | 15.9% |
| ₹50,00,000 | ₹49,25,000 | ₹10,99,800 | ₹91,650 | 22.0% |
New vs old regime — who wins?
| Salary | Deductions | New regime | Old regime | Better |
|---|---|---|---|---|
| ₹10,00,000 | ₹1,50,000 | ₹0 | ₹75,400 | New |
| ₹15,00,000 | ₹2,00,000 | ₹97,500 | ₹1,95,000 | New |
| ₹15,00,000 | ₹4,50,000 | ₹97,500 | ₹1,17,000 | New |
| ₹25,00,000 | ₹3,75,000 | ₹3,19,800 | ₹4,52,400 | New |
| ₹25,00,000 | ₹6,00,000 | ₹3,19,800 | ₹3,82,200 | New |
The old regime pays off only if you claim large deductions, usually home loan interest plus full 80C, 80D and HRA.
Marginal relief explained
Without marginal relief, earning ₹1 above ₹12 lakh of taxable income would suddenly cost ₹60,000 in tax. The law caps the tax (before cess) at the lower of the slab tax and the income above ₹12 lakh:
| Taxable income | Slab tax | Income above ₹12 lakh | Tax payable (before cess) |
|---|---|---|---|
| ₹12,00,000 | ₹60,000 | ₹0 | ₹0 |
| ₹12,25,000 | ₹63,750 | ₹25,000 | ₹25,000 |
| ₹12,50,000 | ₹67,500 | ₹50,000 | ₹50,000 |
| ₹12,70,000 | ₹70,500 | ₹70,000 | ₹70,000 |
| ₹13,00,000 | ₹75,000 | ₹1,00,000 | ₹75,000 |
From about ₹12.71 lakh onward the normal slab tax applies. The calculator handles this automatically.
Surcharge
Above ₹50 lakh a surcharge is added: 10% (₹50 lakh–1 crore), 15% (₹1–2 crore) and 25% above ₹2 crore in the new regime. The old regime goes up to 37% above ₹5 crore. The calculator adds surcharge but does not apply marginal relief on surcharge, so results just above these thresholds may be slightly high.
Keep in mind
- This is an estimate for resident individuals below 60. Capital gains, lottery income and other special-rate income are taxed differently.
- Employers deduct TDS each month based on the regime you declare.
- Check the final figure with your Form 16 or a tax professional before filing.
Frequently asked questions
What are the new regime tax slabs for FY 2026-27?
Up to ₹4 lakh nil, ₹4–8 lakh 5%, ₹8–12 lakh 10%, ₹12–16 lakh 15%, ₹16–20 lakh 20%, ₹20–24 lakh 25% and above ₹24 lakh 30%. Budget 2026 kept the same slabs as FY 2025-26.
Is income up to ₹12 lakh tax-free?
Yes, under the new regime a rebate makes tax nil when taxable income is up to ₹12 lakh. For salaried people the ₹75,000 standard deduction takes this to ₹12.75 lakh of salary.
What is marginal relief?
If taxable income is just above ₹12 lakh, the tax cannot be more than the income above ₹12 lakh. At ₹12.5 lakh taxable, slab tax is ₹67,500 but you pay only ₹50,000 (plus cess). The relief ends at about ₹12.71 lakh.
Which regime is better for me?
Enter your deductions. The old regime wins only when deductions are large — typically ₹4 lakh or more at ₹15 lakh income. The calculator shows the saving directly.
What is the standard deduction?
₹75,000 in the new regime and ₹50,000 in the old regime, for salaried employees and pensioners.
Does the Income-tax Act 2025 change my tax?
The new Act replaced the 1961 Act from 1 April 2026 and uses the term “tax year”. The slab rates for 2026-27 stayed the same.