Income Tax Calculator
Compare New vs Old regime for FY 2026-27
Income Tax Slab Rates
New Regime Slab Rates
| Income Slabs (Rs.) | Tax Rate |
|---|---|
| Up to 4 lakh | Nil |
| 4 lakh to 8 lakh | 5% |
| 8 lakh to 12 lakh | 10% |
| 12 lakh to 16 lakh | 15% |
| 16 lakh to 20 lakh | 20% |
| 20 lakh to 24 lakh | 25% |
| Above 24 lakh | 30% |
Old Regime Slab Rates
| Income Slabs (Rs.) | Tax Rate |
|---|---|
| Up to 3 lakh | Nil |
| 3 lakh to 5 lakh | 5% |
| 5 lakh to 10 lakh | 20% |
| Above 10 lakh | 30% |
* Slab rates vary for resident senior and super senior citizens.
What Does This Calculator Do?
This Income Tax Calculator for FY 2026-27 (AY 2027-28) helps you compare your tax liability under both the Old and New tax regimes introduced by the Union Budget 2026. The New Regime offers lower slab rates with a basic exemption of ₹4 lakh and a standard deduction of ₹75,000, but does not allow most deductions like 80C, 80D, and HRA. The Old Regime retains the original slab structure but allows all deductions and exemptions. This tool calculates your exact tax under both regimes and recommends which one saves you more money.
Why You Need This Calculator
With the Budget 2026 changes making the New Regime even more attractive for many taxpayers, choosing the right regime can save you ₹10,000 to ₹1 lakh or more annually. The decision depends on your salary structure, total deductions (80C, 80D, HRA, NPS), and income level. This calculator does the heavy lifting by computing slab-wise tax breakdown, applying 4% Health & Education Cess, factoring in rebate under Section 87A, and showing you the exact savings difference. You can also save and compare multiple salary scenarios.
How to Use This Calculator
Step 1: Enter your gross annual income. Step 2: Select your age group (below 60, 60-80 Senior Citizen, or 80+ Super Senior Citizen). Step 3: In the Old Regime tab, enter your deductions — Section 80C investments, 80D health insurance, HRA exemption, NPS contributions, and other deductions. Step 4: View the side-by-side comparison showing tax under both regimes, the recommended regime, and your potential savings. You can download a detailed PDF report or share the comparison on WhatsApp.
Key Terms Explained
Old Regime: The traditional tax system with higher slab rates but allowing deductions under Sections 80C, 80D, 80E, 80G, HRA, LTA, etc. New Regime (Budget 2026): Revised lower slab rates with ₹4L basic exemption and ₹75K standard deduction, but most deductions are not available. Section 87A Rebate: Tax rebate for income up to ₹12L (New Regime) or ₹5L (Old Regime), effectively making income up to these limits tax-free. Health & Education Cess: 4% surcharge on total tax payable, used to fund health and education initiatives.