calculate Income Tax Calculator

assessment Income Tax Calculator Tax Year 2026-27

Compare Old vs New Tax Regime | Income Tax Act, 2025

Updated for Tax Year 2026-27 | Income Tax Act, 2025 | Standard Deduction ₹75,000
lightbulb Smart Tip: Enter your income details. The computation will update automatically on the right.

assignment Tax Calculator India: Income Details

Use our income tax calculator to estimate your tax liability for Tax Year 2026-27 (FY 2026-27 / AY 2027-28). This tool supports both the new tax regime and the old regime, including the latest income tax slabs 2026 as per Union Budget 2026.

Tax Year 2026-27 (FY 2026-27 / AY 2027-28)
Tax Year 2026-27 (FY 2026-27 / AY 2027-28)
Tax Year 2025-26 (FY 2025-26 / AY 2026-27)
Tax Year 2024-25 (FY 2024-25 / AY 2025-26)
Tax Year 2023-24 (FY 2023-24 / AY 2024-25)
Tax Year 2022-23 (FY 2022-23 / AY 2023-24)
Tax Year 2021-22 (FY 2021-22 / AY 2022-23)
Below 60 Years
Below 60 Years
60 to 80 Years (Senior Citizen)
Above 80 Years (Super Senior)

account_balance_wallet Income

trending_down Deductions (Old Regime Only)

Note: Not available in New Regime

PPF, ELSS, LIC (Max ₹1,50,000)
Health Insurance Premium
Additional NPS (Max ₹50,000)
Section 24(b) - Max ₹2,00,000
Education loan, donations, etc.

account_balance_wallet Tax Computation

ParticularsOld RegimeNew Regime
Gross Income₹0₹0
Deductions / Std. Ded.₹0₹0
Taxable Income₹0₹0
Income Tax₹0₹0
Cess (4%)₹0₹0
Total Tax Payable₹0₹0
Recommended Regime
Calculate to see recommendation
build Related Tax Tools

assignment Tax Slabs for Tax Year 2026-27

Old Regime (Below 60)

  • Up to ₹2.5L: 0%
  • ₹2.5L - ₹5L: 5%
  • ₹5L - ₹10L: 20%
  • Above ₹10L: 30%

New Regime (All Ages)

  • Up to ₹4L: 0%
  • ₹4L - ₹8L: 5%
  • ₹8L - ₹12L: 10%
  • ₹12L - ₹16L: 15%
  • ₹16L - ₹20L: 20%
  • ₹20L - ₹24L: 25%
  • Above ₹24L: 30%

Frequently Asked Questions about Income Tax

Find answers to common questions about income tax calculator. These FAQs are designed to help you understand key concepts and make informed decisions.

1. Which financial year does this income tax calculator support?

This income tax calculator is updated for FY 2026-27 (Tax Year 2026-27) under the Income Tax Act, 2025, with the latest income tax slabs. It also supports previous years from FY 2021-22 for comparison.

2. What is the standard deduction for FY 2026-27?

For FY 2026-27 under the Income Tax Act, 2025, the standard deduction is ₹50,000 under the old tax regime and ₹75,000 under the new tax regime.

3. What are the income tax slab rates for the New Tax Regime in FY 2026-27?

Under the Income Tax Act, 2025, the new tax regime slab rates for FY 2026-27 are: 0-4L: Nil, 4-8L: 5%, 8-12L: 10%, 12-16L: 15%, 16-20L: 20%, 20-24L: 25%, Above 24L: 30%. A tax rebate of ₹60,000 is available for taxable income below ₹12 lakh under the new regime (Section 115BAC).

4. What are the income tax slab rates for the Old Tax Regime in FY 2026-27?

Under the old tax regime, the slab rates are: 0-2.5L: Nil, 2.5-5L: 5%, 5-10L: 20%, Above 10L: 30%, with a standard deduction of ₹50,000 for salaried individuals. Various deductions like Section 80C, 80D, HRA, and LTA are available only under the old regime.

5. What is the new 'Tax Year' concept under the Income Tax Act, 2025?

The Income Tax Act, 2025 (effective April 1, 2026) replaces the 'Previous Year' and 'Assessment Year' terminology with a unified 'Tax Year' concept. For example, FY 2026-27 is now referred to as Tax Year 2026-27, simplifying tax filing language for taxpayers.

6. Can I compare Old and New Tax Regimes?

Yes, our tool provides a side-by-side comparison of your tax liability under both the old and new tax regimes, helping you choose the more beneficial option.

7. Does this calculator include cess and surcharge?

Yes, the final tax is calculated inclusive of a 4% Health and Education Cess. Applicable surcharge is also automatically calculated for high-income individuals.

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