India Income Tax Calculator
Compare Old vs New Regime instantly. Pick a financial year, enter your numbers, and get a full breakdown in seconds.
Select a financial year to start calculating
Tax Slabs — FY 2026-27
For individuals below 60 years. Old Regime senior/super-senior citizens get higher basic exemptions.
New Regime
Default from FY 2023-24
| Income | Rate |
|---|---|
| ₹0 – ₹4L | Nil |
| ₹4L – ₹8L | 5% |
| ₹8L – ₹12L | 10% |
| ₹12L – ₹16L | 15% |
| ₹16L – ₹20L | 20% |
| ₹20L – ₹24L | 25% |
| Above ₹24L | 30% |
Std. deduction: ₹75k · Rebate up to: ₹12L
Old Regime
All deductions & exemptions
| Income | Rate |
|---|---|
| ₹0 – ₹2.5L | Nil |
| ₹2.5L – ₹5L | 5% |
| ₹5L – ₹10L | 20% |
| Above ₹10L | 30% |
Std. deduction: ₹50k · Rebate up to: ₹5L
+ 4% Health & Education Cess on tax. Surcharge applies for income above ₹50L.
Key Limits at a Glance
Common limits and deductions for FY 2026-27
Zero-tax limit
After rebate u/s 87A
Standard Deduction
For salaried individuals
Section 80C
PF, ELSS, LIC, PPF etc.
Health Insurance 80D
Self + parents
NPS Extra (80CCD 1B)
Over 80C limit
Home Loan Interest
Self-occupied property
Old vs New — Which Should You Pick?
The calculator will show the exact saving for your numbers — this is a quick reference guide
Best for
Lower income or minimal investments
High deductions (80C, HRA, home loan)
Complexity
Simple — fewer forms needed
More paperwork, proofs required
Flexibility
Fixed slabs, no tweaking
Customisable via deductions
Break-even income
Advantageous below ~₹15L typically
Worthwhile above ~₹15L with max deductions
Income tax slabs for FY 2026-27 (AY 2027-28)
Budget 2026 left the slab structure untouched, so the rates below carry over unchanged from the previous year in both regimes. A 4% health and education cess applies on top of the tax in every case, and surcharge is added once total income crosses ₹50 lakh.
| Income slab | Rate |
|---|---|
| ₹0 – ₹4,00,000 | 0% |
| ₹4,00,000 – ₹8,00,000 | 5% |
| ₹8,00,000 – ₹12,00,000 | 10% |
| ₹12,00,000 – ₹16,00,000 | 15% |
| ₹16,00,000 – ₹20,00,000 | 20% |
| ₹20,00,000 – ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
| Income slab | Rate |
|---|---|
| ₹0 – ₹2,50,000 | 0% |
| ₹2,50,000 – ₹5,00,000 | 5% |
| ₹5,00,000 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Senior citizens aged 60 to 79 get a higher ₹3 lakh exemption limit under the old regime, and super senior citizens aged 80 and above get ₹5 lakh. The new regime has no age-based concession — the ₹4 lakh limit is the same for everyone.
Standard deduction: ₹75,000 under the new regime and ₹50,000 under the old, for salaried taxpayers and pensioners. Section 87A rebate: up to ₹60,000 where taxable income stays within ₹12,00,000 in the new regime, and up to ₹12,500 within ₹5,00,000 in the old.
Old vs new regime: the break-even point
The question people usually ask is “at what income is the old regime better?” — but income is the wrong variable. Both regimes tax the same income; what separates them is how much you are allowed to subtract first. So the real question is how much you can deduct.
The table below shows the deductions a salaried taxpayer below 60 would need before the old regime produces a lower bill, at FY 2026-27 (AY 2027-28) rates. Below the break-even figure the new regime wins; above it, the old regime does.
| Gross salary | Tax under new regime | Deductions needed for old regime to win |
|---|---|---|
| ₹10,00,000 | ₹0 | about ₹4,50,000 |
| ₹12,00,000 | ₹0 | about ₹6,50,000 |
| ₹15,00,000 | ₹97,500 | about ₹5,43,750 |
| ₹20,00,000 | ₹1,92,400 | about ₹7,08,333 |
| ₹25,00,000 | ₹3,19,800 | about ₹8,00,000 |
Two things stand out. The break-even is steepest right at ₹12 lakh, because the Section 87A rebate takes the new-regime bill to zero at that point and the old regime can only match zero by shrinking taxable income to ₹5 lakh. And the thresholds are high in absolute terms: ₹1.5 lakh of 80C plus ₹75,000 of health insurance gets you to ₹2.25 lakh, so clearing ₹5 lakh generally needs substantial HRA or home loan interest as well.
These figures are computed live from the same slab rules the calculator uses, for a salaried taxpayer below 60 with only salary income. Your own break-even will shift if you have capital gains, business income or surcharge in play — enter your actual numbers above for a comparison specific to you.
What the new regime takes away
The new regime buys its lower rates by withdrawing most deductions. These are the ones you give up:
- Section 80C — PF, PPF, ELSS, LIC premium, home loan principal, tuition fees, up to ₹1.5 lakh.
- Section 80D — health insurance premium for self, family and parents.
- Section 80CCD(1B) — the extra ₹50,000 for NPS contributions you make yourself.
- HRA exemption under Section 10(13A), and leave travel allowance.
- Section 24(b) — interest on a self-occupied home loan, up to ₹2 lakh.
- Sections 80G, 80E, 80TTA and 80TTB — donations, education loan interest and interest income.
Three things do survive into the new regime, and they are easy to overlook. The ₹75,000 standard deduction applies automatically. Your employer’s NPS contribution under Section 80CCD(2) remains deductible up to 14% of basic salary, which is worth structuring your salary around. And interest on a let-out property is still allowed under Section 24(b) — it is only the self-occupied version that goes.
Switching between regimes
The new regime is the default. If you want the old one you have to actively opt out, and how freely you can do that depends on the kind of income you have.
With only salary or other non-business income, you choose afresh every year at the point of filing, and nothing stops you alternating year to year. With business or professional income the choice is close to one-way: you opt out using Form 10-IEA, and once you have gone back to the old regime you may return to the new regime only once more, after which the decision is locked in.
Worth knowing: the regime you declared to your employer for TDS purposes does not bind you. If your employer deducted tax under the new regime, you can still file under the old regime and claim the difference as a refund, provided you file by the due date.
Frequently asked questions
Which tax regime is better — old or new?
It depends entirely on how much you can deduct. The new regime gives lower slab rates and a ₹4 lakh exemption but almost no deductions. The old regime keeps 80C, HRA, home loan interest and the rest, but taxes you at 20% from ₹5 lakh and 30% from ₹10 lakh. As a rule of thumb for FY 2026-27, a salaried taxpayer needs roughly ₹5.4 lakh of deductions at ₹15 lakh income, or about ₹7.1 lakh at ₹20 lakh income, before the old regime wins. This calculator works out both and tells you which one costs you less.
What are the income tax slabs for FY 2026-27 (AY 2027-28)?
Under the new regime: nil 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. Under the old regime: nil up to ₹2.5 lakh, 5% from ₹2.5–5 lakh, 20% from ₹5–10 lakh and 30% above ₹10 lakh. A 4% health and education cess applies on top in both regimes.
Did Budget 2026 change the income tax slabs?
No. Budget 2026 left the slab structure and rates unchanged for FY 2026-27 in both the old and the new regime. The seven-slab new regime introduced by the Finance Act 2025, the ₹75,000 standard deduction and the ₹60,000 Section 87A rebate all continue. Budget 2026 did change one filing date: non-audit business and professional cases filing ITR-3 or ITR-4 now have until 31 August instead of 31 July. Salaried taxpayers filing ITR-1 or ITR-2 keep the 31 July deadline.
What are the old regime slab rates?
For taxpayers below 60: nil up to ₹2.5 lakh, 5% from ₹2.5–5 lakh, 20% from ₹5–10 lakh and 30% above ₹10 lakh. Senior citizens aged 60–79 get a ₹3 lakh exemption limit and super senior citizens aged 80 and above get ₹5 lakh. The old regime also carries a ₹50,000 standard deduction for salaried taxpayers and a Section 87A rebate of up to ₹12,500 where taxable income does not exceed ₹5 lakh.
Is income up to ₹12 lakh tax-free in the new regime?
For FY 2026-27, yes for a resident individual whose income is all ordinary income. A Section 87A rebate of up to ₹60,000 wipes out the tax where taxable income does not exceed ₹12 lakh. A salaried taxpayer also gets the ₹75,000 standard deduction on top, so a salary of about ₹12.75 lakh can come out at nil tax. The rebate does not apply to income taxed at special rates, such as capital gains under Sections 111A or 112A.
At what income does the old regime become better?
There is no single income figure — it depends on your deductions, not your income. What matters is whether your total deductions clear the break-even point for your income level. At ₹15 lakh salary that point is about ₹5.44 lakh of deductions; at ₹20 lakh it is about ₹7.08 lakh; at ₹25 lakh about ₹8 lakh. Note the break-even is unusually high at exactly ₹12 lakh income (around ₹6.5 lakh), because the 87A rebate makes the new regime very hard to beat right at that threshold.
Which deductions are not allowed in the new regime?
The new regime removes most Chapter VI-A deductions: Section 80C, 80D health insurance, 80CCD(1B) NPS, 80G donations, 80E education loan interest, 80TTA and 80TTB interest, HRA exemption under Section 10(13A), LTA, and Section 24(b) interest on a self-occupied home loan. What survives is the ₹75,000 standard deduction, employer NPS contribution under Section 80CCD(2) up to 14% of basic salary, and Section 24(b) interest on a let-out property.
Can I switch between the old and new regime every year?
If you have only salary or other non-business income, yes — you may choose afresh each year when you file. If you have business or professional income the choice is far more restricted: you opt out of the new regime by filing Form 10-IEA, and having switched back to the old regime you can return to the new regime only once, after which the choice is final. The new regime is the default, so you must actively opt out to use the old one.
Is the standard deduction available in both regimes?
Yes, but the amounts differ. Salaried taxpayers and pensioners get ₹75,000 under the new regime and ₹50,000 under the old regime. It is applied automatically against salary income and needs no proof or investment. This calculator applies the correct figure to each regime for you.
How is surcharge calculated on high incomes?
Surcharge is charged on the tax, not the income, once total income crosses ₹50 lakh: 10% above ₹50 lakh, 15% above ₹1 crore, 25% above ₹2 crore, and 37% above ₹5 crore under the old regime. The new regime caps surcharge at 25%, which is what makes it markedly better for very high earners. Cess of 4% is then applied on tax plus surcharge.
Does the calculator handle capital gains and F&O income?
Yes. It taxes short-term equity gains at 20% under Section 111A and long-term equity gains at 12.5% above the ₹1.25 lakh exemption under Section 112A, keeping them out of your slab income as the law requires. F&O and professional income are treated as ordinary income and taxed at slab rates. For the full capital gains picture, including indexation on older property, use our dedicated capital gains calculator.
Is this tax calculator free and accurate?
It is free, needs no sign-up, and runs entirely in your browser, so your figures never leave your device. It applies the current slab rates, standard deduction, Section 87A rebate, surcharge and cess for the financial year you select. It is built as a close estimate rather than a filed computation — it does not model marginal relief at surcharge thresholds, clubbing of income, or relief under Sections 89 or 90. For those, have an EvoTax expert verify the final number.