Income Tax Calculator
FY 2026-27 (AY 2027-28) · Old vs New Regime · Budget 2026 Updated
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Budget 2026: slabs unchanged
No income tax up to ₹12 Lakhs taxable income under New Regime (with ₹75,000 standard deduction). Rebate u/s 156 (old 87A) up to ₹60,000, with marginal relief just above ₹12 Lakhs.
Income & Deductions
Annual Gross Salary (₹)
Basic + DA / year (₹, for HRA & NPS; blank = 40% of salary)
HRA Received/year (₹)
Annual Rent Paid (₹)
City
50% HRA city Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Hyderabad, Pune, Ahmedabad
Other city 40% of basic
Section 80C / s.123 (₹, max 1.5L)
Health Insurance 80D / s.126 – self & family (₹, max 25,000; 50,000 if 60+)
Health Insurance 80D – parents (₹, max 25,000; 50,000 if parents 60+)
Home Loan Interest 24(b), self-occupied (₹, max 2L)
Employer NPS 80CCD(2) / s.124 (₹, both regimes; max 14% of basic new, 10% old)
Age Group
Old Regime
₹0
Annual tax
₹0/month TDS
New Regime BETTER
₹0
Annual tax
Calculating...
New Regime Tax Slabs FY 2026-27 (s.202)
Up to ₹4LNil
₹4L – ₹8L5%
₹8L – ₹12L10%
₹12L – ₹16L15%
₹16L – ₹20L20%
₹20L – ₹24L25%
Above ₹24L30%
New Regime Calculation
Gross Salary₹0
Standard Deduction− ₹75,000
Employer NPS 80CCD(2)− ₹0
Taxable Income₹0
Income Tax on Slabs₹0
Rebate u/s 156 (old 87A) / marginal relief− ₹0
Surcharge₹0
Health & Education Cess 4%₹0
Total Tax Payable₹0
Old Regime Deductions
Standard Deduction− ₹50,000
HRA Exemption− ₹0
80C Investments− ₹0
80D Health Insurance (incl. parents)− ₹0
Employer NPS 80CCD(2)− ₹0
24(b) Home Loan Interest− ₹0
Total Deductions− ₹0
Taxable Income₹0
Surcharge (old regime)₹0
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Frequently Asked Questions
Old regime allows deductions like 80C, HRA, 80D etc. New regime offers lower slab rates but most deductions are removed. This calculator computes both and shows which is better for you.
₹75,000 is available as standard deduction (Section 19 of the Income-tax Act 2025, formerly 16(ia)) under the new tax regime for FY 2026-27. Budget 2026 made no change. The old regime continues with ₹50,000.
Section 80C (Section 123 of the Income-tax Act 2025) allows deductions up to ₹1.5 lakh per year on investments like PPF, ELSS, LIC premium, NSC, home loan principal repayment, and tuition fees.
A surcharge is levied if your income exceeds ₹50 lakh. It is 10% for income between ₹50L–₹1Cr, 15% for ₹1Cr–₹2Cr, 25% for ₹2Cr–₹5Cr, and 37% for above ₹5Cr (old regime; the new regime is capped at 25%). Marginal relief applies at each threshold, and 4% cess is added on tax + surcharge.
Yes. If you are salaried and pay rent, the exempted HRA amount reduces your taxable income under the old regime. Under the new regime, no HRA exemption is available.