Income Tax Calculator FY 2026-27
Compare the old vs new tax regime for FY 2026-27 (AY 2027-28) in seconds. Enter your annual income, add any deductions, and see your income tax under both regimes — including the ₹12 lakh 87A rebate, standard deduction, surcharge and 4% cess. No sign-in needed.
These reduce tax only under the old regime. Leave at 0 if you don't claim them.
How income tax is calculated in FY 2026-27
Your income tax depends on your taxable income and the regime you choose. The new regime is the default: a ₹75,000 standard deduction, wider slabs, and a full 87A rebate up to ₹12,00,000 taxable income — so many salaried people earning up to about ₹12.75 lakh pay zero tax. It does not allow 80C, HRA, or 80D.
The old regime has a ₹50,000 standard deduction and lets you claim 80C (up to ₹1.5 lakh), HRA exemption, 80D health insurance, home-loan interest under Section 24(b), and NPS. It usually wins only when those deductions are large. This calculator applies the CBDT slabs, the 87A rebate with marginal relief, surcharge for higher incomes, and the 4% health & education cess.
Decode your actual payslip
Not sure of your real taxable income, HRA or 80C figures? Upload a payslip to SlipSmart and it reads them straight off your slip, then shows the regime that saves you more.
Frequently asked questions
Which tax regime is better for FY 2026-27?
It depends on your deductions. The new regime has a higher ₹75,000 standard deduction and zero tax up to ₹12 lakh taxable income (via the 87A rebate), but no 80C/HRA/80D. The old regime is usually better only if your combined deductions (80C, HRA, home-loan interest, 80D) are large. This calculator computes both so you can compare.
Is income up to ₹12 lakh tax-free in the new regime?
In FY 2026-27 the new-regime 87A rebate makes tax zero up to ₹12,00,000 of taxable income. With the ₹75,000 standard deduction, a salaried person earning up to about ₹12.75 lakh gross can pay zero tax. Just above ₹12 lakh, marginal relief caps the tax.
What is the standard deduction for FY 2026-27?
₹75,000 in the new regime and ₹50,000 in the old regime, applied automatically to salary income.
Does this calculator include cess and surcharge?
Yes. It applies the 4% health & education cess, the 87A rebate with marginal relief, and surcharge for higher incomes, using the CBDT slab rules for the selected financial year.