Income Tax Calculator
FY 2025-26 (AY 2026-27) — Compare New vs Old regime, apply all deductions, get exact tax liability.
Your Details
Tax Regime
Income
New Regime Slabs (FY 2025-26)
| Income Range | Rate |
|---|---|
| Up to ₹3L | Nil |
| ₹3L – ₹7L | 5% |
| ₹7L – ₹10L | 10% |
| ₹10L – ₹12L | 15% |
| ₹12L – ₹15L | 20% |
| Above ₹15L | 30% |
Old Regime Slabs (Below 60)
| Income Range | Rate |
|---|---|
| Up to ₹2.5L | Nil |
| ₹2.5L – ₹5L | 5% |
| ₹5L – ₹10L | 20% |
| Above ₹10L | 30% |
Income Tax in India — New vs Old Regime (FY 2026–27)
From FY 2020-21, India has two income tax regimes. The New Regime is the default since FY 2023-24 with lower slab rates but no deductions. The Old Regime has higher rates but allows deductions like 80C, 80D, HRA, and home loan interest.
Key Deductions & Rebates (FY 2026–27)
- Standard deduction: ₹75,000 for salaried employees and pensioners under the New Regime (₹50,000 in Old Regime).
- Rebate under Section 87A: Up to ₹60,000 rebate in the New Regime, meaning zero income tax on taxable income up to ₹12 lakh (gross salaried income up to ₹12.75 lakh).
- Old Regime Rebate: Up to ₹12,500 rebate under Section 87A for taxable income up to ₹5 lakh.
When Is Old Regime Better?
Old regime is beneficial when your total deductions (80C + 80D + HRA + home loan interest + standard deduction) exceed the tax saving from new regime's lower slabs. This is typically when:
- You fully utilise 80C (₹1.5L), 80CCD(1B) NPS (₹50K), and 80D (₹25K+ for self+parents)
- You pay rent and claim HRA exemption
- You have a home loan with significant interest deduction
- Income is above ₹12.75L (after standard deduction) — old regime's 20%/30% slabs mean large deductions can offset the rate difference
How to Calculate HRA Exemption
HRA exemption is the minimum of: (1) Actual HRA received, (2) 50% of Basic+DA for metro / 40% for non-metro, (3) Rent paid minus 10% of Basic+DA. Use all three and take the lowest figure as the HRA exemption.
FAQ
What is the standard deduction in the new regime for FY 2025-26?
₹75,000 for salaried employees. This is automatically applied when calculating taxable income under the new regime.
Is there a cess on income tax?
Yes. A Health and Education Cess of 4% is levied on the income tax + surcharge amount. This is already included in this calculator's output.
When is surcharge applicable?
Surcharge applies when income exceeds ₹50 lakh: 10% surcharge on tax for ₹50L–₹1Cr income; 15% for ₹1Cr–₹2Cr; 25% for ₹2Cr–₹5Cr; 37% above ₹5Cr (capped at 25% for new regime from FY24).
Can I switch between new and old regime every year?
Salaried individuals can switch between regimes every year when filing ITR. Business/profession income earners can switch only once and cannot revert to old regime after switching back.