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.
New Regime
₹12L Tax-Free
Std. Deduction
₹75,000
Comparison
Both Regimes
Cess Included
4% H&E Cess
Stop manual voucher entry in Tally.
TrulyInvoice automates your entire workflow — upload invoice, AI extracts, sync to Tally.
Old Regime Deductions
PF, PPF, ELSS, LIC, etc.
Health insurance premium
House Rent Allowance exempt amount
Recommendation
New Regime saves you ₹1,11,800
Std. Deduction
₹75,000
Taxable Income
₹11,25,000
Total Tax + Cess
₹0
Total Deductions
₹2,25,000
Taxable Income
₹9,75,000
Total Tax + Cess
₹1,11,800
Includes 4% Health & Education Cess and applicable surcharge. New regime: ₹12L tax-free via rebate u/s 87A. This is an estimate — consult a CA for exact tax planning.
Income Tax Slabs FY 2026-27
New Regime
Rebate u/s 87A: Zero tax if income ≤ ₹12L
Old Regime
Allows 80C, 80D, HRA, home loan deductions
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.