Income Tax Calculator - FY 2026-27
Compare Old vs New Tax Regime side by side. Enter your income and deductions to see which regime saves you more tax.
Frequently Asked Questions
What are the income tax slabs for FY 2026-27?
Under the New Regime: 0-₹4L: Nil, ₹4-8L: 5%, ₹8-12L: 10%, ₹12-16L: 15%, ₹16-20L: 20%, ₹20-24L: 25%, Above ₹24L: 30%. Standard deduction of ₹75,000. Rebate under 87A up to ₹12L taxable income. Under the Old Regime: 0-₹2.5L: Nil, ₹2.5-5L: 5%, ₹5-10L: 20%, Above ₹10L: 30%.
Which tax regime should I choose - Old or New?
If your total deductions (80C + 80D + HRA + NPS + home loan interest) exceed ₹3.75 lakh, the Old Regime usually saves more. Below that, the New Regime with lower slab rates and ₹75K standard deduction is better. Use this calculator to compare both.
What is Section 87A rebate?
Section 87A provides a rebate that effectively makes income up to ₹5 lakh tax-free under the Old Regime, and up to ₹12 lakh tax-free under the New Regime (FY 2026-27). This means if your taxable income is below these limits, you pay zero tax.
Can I switch between Old and New Regime?
Salaried individuals can switch between regimes every year when filing their ITR. Business/professional income earners can switch only once. The New Regime is the default - you need to explicitly opt for the Old Regime with your employer or at filing time.
What is the 4% Health & Education Cess?
After calculating your income tax, 4% cess is added on top of the tax amount. This is applicable in both Old and New regimes. For example, if your tax is ₹1,00,000, cess = ₹4,000, so total = ₹1,04,000.