Income Tax Calculator FY 2026-27 — New vs Old Regime
Enter your yearly income and deductions. Both regimes are calculated side by side so you can see which leaves you with more. Budget 2026 left the slabs unchanged.
Rules and formula last checked on 11 October 2026.
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How it's calculated
- Taxable income = gross income − standard deduction − allowed deductions
- New regime slabs: 0–4L nil; 4–8L 5%; 8–12L 10%; 12–16L 15%; 16–20L 20%; 20–24L 25%; above 24L 30%
- Old regime slabs (below 60): 0–2.5L nil; 2.5–5L 5%; 5–10L 20%; above 10L 30% (exemption 3L at 60–79, 5L at 80+)
- Rebate: new regime up to ₹60,000 if taxable income ≤ ₹12L (with marginal relief); old regime up to ₹12,500 if ≤ ₹5L
- Surcharge: 10% above ₹50L, 15% above ₹1Cr, 25% above ₹2Cr, 37% above ₹5Cr (new regime capped at 25%), with marginal relief
- Total = (tax − rebate + surcharge) × 1.04
Worked example
Salary ₹13,00,000 under the new regime: taxable ₹12,25,000, tax ₹26,000 after marginal relief and cess.
Load this example into the calculatorAssumptions and limits
- Resident individual; slab-rate income only.
- Standard deduction: ₹75,000 (new) and ₹50,000 (old), limited to your salary/pension.
- Deductions you enter are assumed to be within their legal limits; this tool doesn't check each section's cap.
- From 1 April 2026 the Income-tax Act, 2025 applies: the rebate is in section 156 (formerly 87A) and the new regime in section 202 (formerly 115BAC). Amounts are unchanged.
Common questions
Is income up to ₹12 lakh really tax-free?
Under the new regime, yes, if it's slab-rate income: the rebate cancels tax when taxable income is ₹12 lakh or less. A salaried person with ₹12.75 lakh gross reaches exactly ₹12 lakh after the ₹75,000 standard deduction.
What is marginal relief?
Just above ₹12 lakh, the extra tax can't be more than the extra income. At ₹12.25 lakh taxable, slab tax is ₹63,750 but you pay only ₹25,000 (plus cess), the amount above ₹12 lakh.
Which regime should I pick?
Compare both here with your real deduction total. The old regime usually wins only if your deductions are large — typically several lakh rupees through HRA, 80C, 80D and home-loan interest.