Income Tax Calculator — New vs Old Regime, FY 2026-27

Enter your income and deductions once. See your exact tax under both regimes, which one wins, and your monthly take-home — using the unchanged FY 2026-27 slabs with the ₹12 lakh rebate and marginal relief.

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Salaried (standard deduction applies)

₹75,000 standard deduction in the new regime, ₹50,000 in the old regime.

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Home loan interest (Sec 24), NPS 80CCD(1B), 80E, 80G etc.

New Regime Saves You
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Both regimes cost the same
New Regime Tax
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incl. 4% cess
Old Regime Tax
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after your deductions
Monthly Take-Home
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after tax in the better regime
Where Your Income Goes (better regime)
Tax by Slab — better regime
SlabRateTax

📌 The Deduction Break-Even

Both Regimes, Full Numbers

ComponentNew RegimeOld Regime

FY 2026-27 Slabs (Unchanged by Budget 2026)

The Union Budget 2026 kept income tax slabs unchanged for FY 2026-27 (AY 2027-28). The new regime remains the default.

New: 0% to ₹4 L · 5% on ₹4-8 L · 10% on ₹8-12 L · 15% on ₹12-16 L · 20% on ₹16-20 L · 25% on ₹20-24 L · 30% above ₹24 L
Old: 0% to ₹2.5 L · 5% on ₹2.5-5 L · 20% on ₹5-10 L · 30% above ₹10 L

The ₹12 Lakh Rebate + Marginal Relief

1. New regime taxable income up to ₹12,00,000 → Section 87A rebate wipes the tax to zero.
2. Just above ₹12 L, marginal relief caps your tax at the income over ₹12 L, so earning ₹1 more never costs you thousands.
3. Salaried? The ₹75,000 standard deduction means zero tax up to ₹12,75,000 of salary.
4. A 4% Health & Education Cess applies on the final tax in both regimes.

How to Choose Between the Regimes

  • No big deductions? The new regime almost always wins below ₹15-20 lakh of income.
  • Big HRA + 80C + home loan interest? Run your exact numbers above — the old regime can still win for renters in metros with large loans.
  • Salaried switching: Salaried taxpayers can pick a regime every year when filing. Business income locks the choice more tightly.
  • Old-regime rebate: Taxable income up to ₹5 lakh pays zero tax in the old regime too (87A rebate of ₹12,500).
  • Surcharge note: Income above ₹50 lakh attracts surcharge (10-25%); this calculator covers the base tax and cess, not surcharge.

Income Tax FAQs (FY 2026-27)

Yes, in the new regime for salaried individuals: ₹12,75,000 minus the ₹75,000 standard deduction leaves ₹12,00,000 of taxable income, and the Section 87A rebate (up to ₹60,000) reduces the ₹60,000 tax on that to zero. Special-rate income like short-term capital gains is not covered by the rebate.

Marginal relief protects incomes just above the ₹12 lakh rebate line. Without it, earning ₹12,10,000 would create a tax bill larger than the extra ₹10,000 you earned. With marginal relief, the tax (before cess) is capped at the income above ₹12 lakh — so ₹12,10,000 of taxable income owes at most ₹10,000. The relief phases out automatically as income rises toward the mid-₹12 lakh range.

Very few: the ₹75,000 standard deduction for salary, employer NPS contribution (80CCD(2)), and a handful of others. Popular deductions like 80C (PF, ELSS, PPF), 80D (health insurance), HRA and home loan interest are available only in the old regime — that is the core trade-off this calculator measures.