Income Tax Calculator India — FY 2026-27 (Old vs New Regime)
Calculate your income tax liability for FY 2026-27 (Assessment Year 2027-28) under both the Old and New tax regimes side-by-side, with a clear recommendation on which one saves you more money. Includes deductions under 80C, 80D, HRA, NPS, standard deduction, surcharge and marginal relief.
Enter your income details
Tax slabs — FY 2026-27
🔴 New Regime (default) — lower rates, no deductions
| Income range (₹) | Tax rate |
|---|---|
| Up to 4,00,000 | 0% |
| 4,00,001 – 8,00,000 | 5% |
| 8,00,001 – 12,00,000 | 10% |
| 12,00,001 – 16,00,000 | 15% |
| 16,00,001 – 20,00,000 | 20% |
| 20,00,001 – 24,00,000 | 25% |
| Above 24,00,000 | 30% |
Standard deduction of ₹75,000 + rebate up to ₹12 lakh income (₨7(1A)) effectively makes income up to ₹12 lakh tax-free.
🔵 Old Regime — higher rates, but deductions allowed
| Income range (₹) | Tax rate (below 60) |
|---|---|
| Up to 2,50,000 | 0% |
| 2,50,001 – 5,00,000 | 5% |
| 5,00,001 – 10,00,000 | 20% |
| Above 10,00,000 | 30% |
Senior citizens (60-79): 0% up to ₹3L. Super senior (80+): 0% up to ₹5L. Standard deduction ₹50,000. Rebate up to ₹5 lakh income.
Which regime should you choose?
Choose the New Regime if: your total deductions (80C + 80D + HRA + NPS + home loan) are less than approximately ₹4 lakh, you're a younger employee without home loan, or you want simpler filings.
Choose the Old Regime if: you have a home loan with interest >₹1.5 lakh, you max out 80C (₹1.5L), you pay significant HRA in a metro, or your total deductions exceed ₹4 lakh.
Real example: Salary ₹20 lakh, 80C ₹1.5L, 80D ₹25k, HRA ₹3L, home loan interest ₹2L. Total deductions ₹6.75L. Old regime tax ≈ ₹1.96L; New regime tax ≈ ₹2.93L. Old wins by ~₹97,000.
Major deductions you can claim (Old Regime only)
| Section | What it covers | Max limit (₹) |
|---|---|---|
| 80C | PPF, EPF, ELSS, NSC, life insurance, home loan principal, tuition fees | 1,50,000 |
| 80CCD(1B) | Additional NPS contribution (over 80C) | 50,000 |
| 80D | Health insurance premium (self + family + parents) | 25,000-1,00,000 |
| 80E | Education loan interest (no upper limit, 8 years) | No limit |
| 80G | Donations to approved charities | 50%-100% |
| 24(b) | Home loan interest (self-occupied) | 2,00,000 |
| HRA | House Rent Allowance (metro/non-metro) | Salary-linked |
| LTA | Leave Travel Allowance | 2 trips per 4 years |
Surcharge & cess
On top of slab tax, both regimes apply:
- Surcharge: 10% (income >₹50L), 15% (>₹1Cr), 25% (>₹2Cr), 37% (>₹5Cr — old only; new regime caps at 25%)
- Health & Education Cess: 4% on (Tax + Surcharge)
- Marginal relief: kicks in to prevent income just above a slab threshold from paying more tax than the income difference