Find out how much income tax you will pay in FY 2026-27 (AY 2027-28) and which regime saves you more. This income tax calculator works out your tax under both the new and old regimes side by side, including the standard deduction, Section 80C and other deductions, the rebate, surcharge and 4% cess.
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New tax regime slabs for FY 2026-27
| Taxable income | Tax rate |
|---|---|
| Up to ₹4,00,000 | Nil |
| ₹4,00,001 to ₹8,00,000 | 5% |
| ₹8,00,001 to ₹12,00,000 | 10% |
| ₹12,00,001 to ₹16,00,000 | 15% |
| ₹16,00,001 to ₹20,00,000 | 20% |
| ₹20,00,001 to ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
Under the new regime, salaried people and pensioners get a standard deduction of ₹75,000, and a rebate makes taxable income up to ₹12 lakh tax-free. Just above ₹12 lakh, marginal relief caps your tax at the amount by which your income exceeds ₹12 lakh. The new regime is the default unless you choose the old one.
Old tax regime slabs
| Taxable income (below 60) | Tax rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 to ₹5,00,000 | 5% |
| ₹5,00,001 to ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
The tax-free limit is ₹3 lakh for people aged 60 to 79 and ₹5 lakh for those 80 and above. The old regime allows deductions such as Section 80C (up to ₹1.5 lakh), 80D health insurance, HRA and home loan interest, plus a ₹50,000 standard deduction. Its rebate makes taxable income up to ₹5 lakh tax-free.
Frequently asked questions
Is income up to ₹12 lakh tax-free?
Under the new regime, yes: a resident individual with taxable income up to ₹12 lakh pays no tax because of the rebate. For salaried people, the ₹75,000 standard deduction means a salary of up to ₹12.75 lakh is tax-free.
Which regime is better, new or old?
The new regime is usually better if you have few deductions. The old regime can win if you claim large deductions such as full 80C, health insurance, HRA and home loan interest. Enter your own numbers above to see which is lower for you.
Did the new Income-tax Act change the slabs?
The Income-tax Act, 2025 replaced the 1961 Act from 1 April 2026 and renumbered some sections (the rebate, earlier Section 87A, is now Section 156), but the FY 2026-27 slabs and rebate shown here are unchanged from the previous year.
For resident individuals. An estimate only, not tax advice; capital gains and other specially taxed income are not included. Confirm with a chartered accountant before filing. Related: GST calculator · PPF calculator
Income Tax on Salary FY 2026-27: Tax for Every Salary
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