Income Tax Calculator India FY 2026-27
Compare new regime vs old regime tax instantly. Includes 80C, 80D, HRA deductions. Zero tax up to ₹12 lakh under new regime.
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Old Regime Deductions
Tax Optimization Recommendation
New Tax Regime is recommended for you
You save ₹1,11,800 in annual tax liability.
New Tax Regime
OptimalNet Tax Payable
₹0
94% of gross is taxable
Old Tax Regime
Net Tax Payable
₹1,11,800
81% of gross is taxable
Effective Tax Rate Comparison
Bars scaled to 30% max rate. Includes 4% Health & Education Cess and applicable surcharge.
Surcharges & Cess: Slabs incorporate the mandatory 4% Health & Education Cess, standard ₹75K rebate thresholds under Section 87A (FY 2026-27), and surcharge calculations up to 37% for high earners. Always verify with a CA for final returns.
Income Tax Slabs FY 2026-27
New Regime Slabs
Rebate u/s 87A: Zero tax liability if your total income does not exceed ₹12 Lakh.
Old Regime Slabs
Old Regime Perks: Allows standard deductions like Section 80C, 80D, HRA exemption, and home loan interest.
Frequently Asked Questions
What is the income tax slab for FY 2026-27 under the new regime?
Under the new regime for FY 2026-27: 0–₹4L = 0%, ₹4–8L = 5%, ₹8–12L = 10%, ₹12–16L = 15%, ₹16–20L = 20%, ₹20–24L = 25%, above ₹24L = 30%. Income up to ₹12 lakh is effectively tax-free due to rebate u/s 87A.
Is income up to ₹12 lakh really tax-free in FY 2026-27?
Yes, under the new tax regime. The rebate under Section 87A was enhanced in Budget 2025 to make income up to ₹12 lakh effectively tax-free. For salaried individuals, with the ₹75,000 standard deduction, income up to ₹12.75 lakh is tax-free.
Which is better — new regime or old regime?
It depends on your deductions. If you have high deductions (80C, HRA, 80D, home loan interest), the old regime may save more tax. If your deductions are low, the new regime is usually better. Use this calculator to compare both for your specific income.
What deductions are allowed under the old regime?
The old regime allows deductions like Section 80C (up to ₹1.5L for PF, PPF, ELSS, LIC), Section 80D (health insurance up to ₹25K), HRA exemption, home loan interest (Section 24B up to ₹2L), and standard deduction of ₹50,000.
What is the standard deduction in FY 2026-27?
Under the new regime, the standard deduction is ₹75,000 for salaried individuals. Under the old regime, it is ₹50,000. This is automatically deducted from your gross salary before calculating tax.
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