Income Tax Calculator
Estimate your income tax liability under Old vs New tax regimes for FY 2026-27.
Gross salary for the year before any deduction.
The new regime is the default unless you choose the old one.
Senior citizens get a higher tax-free limit in the old regime only.
PPF, ELSS, EPF, life insurance and so on. Capped at ₹1,50,000.
Premiums for self, family and parents.
Self-occupied house, capped at ₹2,00,000.
Quick examples
New regime on ₹15,00,000 salary, FY 2026–27.
What each result means
Total tax
What it is: Slab tax − rebate + surcharge + 4% cess.
Your value: ₹97,500
For the whole year.
Taxable income
What it is: Income after allowed deductions.
Your value: ₹14,25,000
What the slabs apply to.
Effective tax rate
What it is: Total tax ÷ gross income.
Your value: 6.50%
Lower than your top slab.
Monthly TDS (approx.)
What it is: Total tax ÷ 12.
Your value: ₹8,125
What your employer may deduct.
Year-by-year breakdown
| Income band | Rate | Your income in band (₹) | Tax in band (₹) |
|---|---|---|---|
| ₹0 – ₹4,00,000 | 0% | ₹4,00,000 | ₹0 |
| ₹4,00,000 – ₹8,00,000 | 5% | ₹4,00,000 | ₹20,000 |
| ₹8,00,000 – ₹12,00,000 | 10% | ₹4,00,000 | ₹40,000 |
Slab tax before rebate, surcharge and cess. The headline includes all of them.
Showing the first 3 of 7 years. Want charts, formulas and the full schedule? Get the detailed PDF.
What this calculator does
Works out your income tax for FY 2026–27 under the regime you choose, with standard deduction, Section 87A rebate (and marginal relief), surcharge and 4% cess.
What your result means
Your top slab is not your tax rate — only the income in that slab is taxed at it. The effective rate shows what you really pay.
Formula
1. Income tax
Symbols
- Rebate
- Section 87A: new regime up to ₹60,000 if taxable ≤ ₹12 lakh; old regime up to ₹12,500 if ≤ ₹5 lakh
- 1.04
- 4% health and education cess
Why this formula works
India uses progressive slabs: each slice of income is taxed at its own rate.
Unit check
₹ = ₹ × (no unit). ✓
Common mistakes
Applying the top rate to the whole income. Forgetting cess. Claiming old-regime deductions in the new regime.
Working for your numbers
- − Standard deduction: ₹75,000
- Taxable = ₹14,25,000
- Slab tax = ₹93,750
- Rebate 87A = −₹0
- Surcharge = ₹0
- Cess 4% = ₹3,750
- Total = ₹97,500
Frequently asked questions
Is this the exact tax I will pay?
It is close for common cases, but it leaves out some special incomes, exemptions and set-offs. Confirm with Form 16, AIS and the Income Tax Department's own calculator before filing.
Is income up to ₹12 lakh tax-free?
In the new regime, if taxable income is ₹12 lakh or less, the 87A rebate cancels the tax. For salaried people that means about ₹12.75 lakh salary with the ₹75,000 standard deduction. It does not apply to special-rate income like capital gains.
Does this calculator tell me what to do?
No. It is an educational estimate using published rules. It does not know your full situation. For a personal decision, speak to a qualified tax professional or a SEBI-registered investment adviser.
Symbols and assumptions
- Taxable
- Income after deductions (₹)
- Resident individual with salary income only.
- Standard deduction applies (₹75,000 new, ₹50,000 old).
- No special-rate income such as capital gains.
- Figures are in Indian Rupees (₹).
Sources and review
Reviewed 2026-10-05 · Next review 2026-12-31
- Income Tax Department — tax calculators and rules
- Central Board of Direct Taxes — Acts, rules and notifications
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How it works
Calculates total tax based on slab-wise rates for the selected financial year.
The formula
Slab-based progressive taxation- IT
- Income Tax
- Cess
- 4% Health & Education Cess
Worked example
Annual salary of ₹10 Lakh assessed against slabs.
Pro tips
- Compare both regimes to find lower liability.
- Keep investment proofs ready for Old Regime deductions.
Common mistakes
- Forgetting to add health & education cess.
Go deeper
Concepts to explore
Related guides
Institutional grade calculations are illustrative and for educational wealth architecture. Results do not constitute investment advice.