Income Tax Calculator India (TY 2026-27 / AY 2026-27)

An authoritative decision engine to compare your income tax liability between the New Tax Regime (Section 115BAC) and the Old Tax Regime.

⚡ Instant Quick Takeaway

Under the revised New Tax Regime, salaried individuals get a flat ₹75,000 Standard Deduction. If your taxable income is up to ₹12,00,000, a full tax rebate under Section 87A applies—meaning an annual salary up to ₹12.75 Lakhs is 100% Tax-Free.

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Statutory Tax Slabs for TY 2026-27

Income Range	New Regime Tax Rate	Old Regime Tax Rate (<60 Years)
Up to ₹2,50,000	Nil	Nil
₹2,50,001 – ₹4,00,000	Nil	5% (87A rebate applies up to ₹5L)
₹4,00,001 – ₹5,00,000	5%	5%
₹5,00,001 – ₹8,00,000	5%	20%
₹8,00,001 – ₹10,00,000	10%	20%
₹10,00,001 – ₹12,00,000	10% (87A Rebate)	30%
₹12,00,001 – ₹16,00,000	15%	30%
₹16,00,001 – ₹20,00,000	20%	30%
₹20,00,001 – ₹24,00,000	25%	30%
Above ₹24,00,000	30%	30%

Key Deductions & Exemptions Explained

Standard Deduction: ₹75,000 for salaried employees and pensioners under the New Regime (₹50,000 under Old Regime).
Section 87A Rebate: Up to ₹60,000 under the New Regime for taxable income ≤ ₹12,00,000.
Marginal Relief: Provided if taxable income marginally exceeds ₹12,00,000 so that tax payable does not exceed the excess income above ₹12 Lakhs.
Health & Education Cess: A mandatory 4% cess is levied on total tax liability and surcharge.

Frequently Asked Questions

Q: Can I switch between New and Old regimes every year?
Salaried individuals without business income can choose the more beneficial regime each financial year while filing their ITR.