Income Tax Calculator
Compare new vs old tax regime liability for FY 2026–27 (AY 2027–28). Full slab breakdown with surcharge and cess.
Income Tax in India — FY 2026–27 (AY 2027–28)
This calculator computes your income tax liability under both the new and old tax regimes for Financial Year 2026–27, which is Assessment Year 2027–28. It includes the standard deduction, applicable surcharge, and 4% health and education cess.
New tax regime slabs (FY 2026–27)
The new tax regime introduced in Budget 2020 (and updated in 2023 and 2025) offers lower slab rates but without most deductions and exemptions. From FY 2025–26, the tax-free limit under the new regime is ₹12 lakh (for salaried individuals with the ₹75,000 standard deduction). The slab rates are: 0% up to ₹4 lakh, 5% from ₹4–8 lakh, 10% from ₹8–12 lakh, 15% from ₹12–16 lakh, 20% from ₹16–20 lakh, 25% from ₹20–24 lakh, and 30% above ₹24 lakh.
Old tax regime slabs (FY 2026–27)
The old regime retains the well-known three-slab structure: 0% up to ₹2.5 lakh (₹3 lakh for senior citizens, ₹5 lakh for super seniors), 5% from ₹2.5–5 lakh, 20% from ₹5–10 lakh, and 30% above ₹10 lakh. It allows deductions under 80C (up to ₹1.5 lakh), 80D (health insurance), HRA, home loan interest, and many more, which can significantly reduce taxable income.
Which regime is better for you?
Generally, the new regime is more beneficial for those with fewer deductions or whose total deductions fall below approximately ₹3.75 lakh. The old regime can be better if you have significant deductions — particularly HRA, home loan interest, and 80C investments. Use this calculator to see your exact saving under each option.
Surcharge and cess
Income tax is subject to a surcharge of 10% for income between ₹50 lakh and ₹1 crore, 15% for ₹1–2 crore, 25% for ₹2–5 crore, and 37% for income above ₹5 crore (capped at 25% under the new regime). A health and education cess of 4% is levied on the total tax and surcharge amount.