Income Tax Calculator India
FY 2025-26 & 2026-27
Compare Old vs New Tax Regime instantly. Budget 2026 updated with revised slabs, Section 87A rebate & surcharge.
Budget 2026 Ready
⚖️ Old vs New Regime
💡 Section 87A Rebate
Tax Calculation Result
Old Regime
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New Regime
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📊 Slab-wise Tax Breakdown
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Fill in your income details and click Calculate.
📋 Tax Slab Reference — FY 2025-26
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❓ Frequently Asked Questions
What are the new tax slabs under Budget 2026 (FY 2026-27)?+
Under the New Regime for FY 2026-27 (Budget 2026): 0% up to ₹4L, 5% for ₹4L–₹8L, 10% for ₹8L–₹12L, 15% for ₹12L–₹16L, 20% for ₹16L–₹20L, 25% for ₹20L–₹24L, and 30% above ₹24L. With the ₹75,000 standard deduction and ₹60,000 Section 87A rebate, salaried individuals earning up to ₹12.75 lakh pay zero tax.
What is the tax-free income limit in India for FY 2026-27?+
For FY 2026-27 under the New Tax Regime, salaried individuals with gross income up to ₹12,75,000 pay zero tax. This is due to the ₹75,000 standard deduction reducing taxable income to ₹12L and the Section 87A rebate of ₹60,000 eliminating the remaining tax. Under the Old Regime, the effective zero-tax limit remains ₹5 lakh via the ₹12,500 rebate.
Which is better — Old or New Tax Regime in FY 2026-27?+
For most salaried individuals with fewer deductions, the New Regime saves more tax in 2026-27 due to revised slabs and higher zero-tax threshold. The Old Regime benefits those with total deductions exceeding roughly ₹3.75–4 lakh (80C, HRA, home loan, 80D, NPS combined). Use the calculator above to compare instantly for your specific situation.
What is Section 87A rebate for FY 2025-26 and FY 2026-27?+
Section 87A provides a direct rebate against computed tax:
FY 2025-26 & FY 2026-27:
• New Regime: Rebate up to ₹60,000 if taxable income ≤ ₹12 lakh
• Old Regime: Rebate up to ₹12,500 if taxable income ≤ ₹5 lakh
Available to resident individuals only. Not applicable to companies, firms, or NRIs.
FY 2025-26 & FY 2026-27:
• New Regime: Rebate up to ₹60,000 if taxable income ≤ ₹12 lakh
• Old Regime: Rebate up to ₹12,500 if taxable income ≤ ₹5 lakh
Available to resident individuals only. Not applicable to companies, firms, or NRIs.
What is the standard deduction for salaried employees in FY 2026-27?+
Standard deduction for salaried employees and pensioners:
• New Regime: ₹75,000 (increased from ₹50,000 in Budget 2024)
• Old Regime: ₹50,000
No bills or proof required. Directly deducted from gross salary before computing taxable income.
• New Regime: ₹75,000 (increased from ₹50,000 in Budget 2024)
• Old Regime: ₹50,000
No bills or proof required. Directly deducted from gross salary before computing taxable income.
What is surcharge and cess on income tax?+
Surcharge on income tax for high earners:
• 10% for income ₹50L–₹1Cr
• 15% for ₹1Cr–₹2Cr
• 25% for ₹2Cr–₹5Cr
• 25% (New) / 37% (Old) above ₹5Cr
Health & Education Cess: 4% on (tax + surcharge). This calculator automatically computes both.
• 10% for income ₹50L–₹1Cr
• 15% for ₹1Cr–₹2Cr
• 25% for ₹2Cr–₹5Cr
• 25% (New) / 37% (Old) above ₹5Cr
Health & Education Cess: 4% on (tax + surcharge). This calculator automatically computes both.
Can I switch between Old and New Tax Regime in FY 2026-27?+
Salaried individuals without business income can switch regimes every year when filing their ITR — no restriction. Taxpayers with business/professional income who opt out of the New Regime can only switch once and cannot revert to the New Regime in subsequent years (unless the business income ceases).
What deductions are NOT available under the New Tax Regime?+
Under the New Tax Regime, most deductions are not available, including: 80C (PF, PPF, ELSS, LIC), 80D (health insurance), HRA exemption, Leave Travel Allowance (LTA), home loan interest deduction (Sec 24b), 80G donations, 80TTA savings interest, and most other chapter VI-A deductions. Only the standard deduction (₹75,000), NPS employer contribution (80CCD(2)), and a few specific items remain.
⚠️ Disclaimer: This calculator is for informational and educational purposes only. Results are approximate based on announced Budget 2026 rates. Actual tax liability may vary based on special income types (LTCG, STCG, dividends), individual circumstances, and other factors. This does not constitute tax advice. Please consult a qualified Chartered Accountant (CA) for personalized tax planning.
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