Income tax calculator
Compare your tax under the old and new regime for FY 2026-27. Covers HRA, 80C, health insurance, home loan interest, the ₹12 lakh rebate and cess. Free, with no sign-up.
Updated
About you
April 2026 to March 2027, returns due July 2027
Your income for the year
Rupees Fifteen Lakh Only, about ₹1,25,000 a month
Interest from savings and FDs, freelance profit and other income taxed at normal rates.
Your tax for FY 2026-27
The new regime saves you ₹1,59,900
New regimeLower
₹97,500
About ₹8,125 a month in TDS
Old regime
₹2,57,400
About ₹21,450 a month in TDS
The old regime would only win if your deductions and exemptions, apart from the standard deduction, came to more than ₹5,44,000. Add yours under Deductions to compare.
Includes the 4% health and education cess. For resident individuals with salary and other normal-rate income.
Deductions for the old regime
The new regime doesn't allow these. It only takes off a ₹75,000 standard deduction from salary, which is applied for you. The old regime's ₹50,000 standard deduction is applied too.
PF, PPF, ELSS, life insurance, home loan principal, children's tuition fees. Up to ₹1,50,000 (80C).
Your own NPS payments beyond the above. Up to ₹50,000.
You, your spouse and children. Up to ₹25,000, or ₹50,000 if you're 60 or older (80D).
Up to ₹25,000.
For a home you live in. Up to ₹2,00,000.
On your salary slip. Up to ₹2,500 a year.
Leave travel allowance, education loan interest, donations, savings account interest up to ₹10,000 and similar.
How your tax is worked out
New regime
- Gross income
- ₹15,00,000
- Less standard deduction
- −₹75,000
- Taxable income
- ₹14,25,000
- 0% on ₹0 to ₹4,00,000
- ₹0
- 5% on ₹4,00,000 to ₹8,00,000
- ₹20,000
- 10% on ₹8,00,000 to ₹12,00,000
- ₹40,000
- 15% on ₹12,00,000 to ₹14,25,000
- ₹33,750
- Tax on slabs
- ₹93,750
- Add 4% cess
- ₹3,750
- Total tax
- ₹97,500
Old regime
- Gross income
- ₹15,00,000
- Less standard deduction
- −₹50,000
- Taxable income
- ₹14,50,000
- 0% on ₹0 to ₹2,50,000
- ₹0
- 5% on ₹2,50,000 to ₹5,00,000
- ₹12,500
- 20% on ₹5,00,000 to ₹10,00,000
- ₹1,00,000
- 30% on ₹10,00,000 to ₹14,50,000
- ₹1,35,000
- Tax on slabs
- ₹2,47,500
- Add 4% cess
- ₹9,900
- Total tax
- ₹2,57,400
Taxable income and tax are rounded to the nearest ₹10, as the law requires. Your employer's TDS can differ slightly if your salary or declarations change during the year.
Income tax slabs for FY 2026-27: new regime
The new regime is the default. Budget 2026 kept the same slabs as FY 2025-26, so these rates apply to both years.
| Taxable income | Tax rate |
|---|---|
| Up to ₹4,00,000 | Nil |
| ₹4,00,001 to ₹8,00,000 | 5% |
| ₹8,00,001 to ₹12,00,000 | 10% |
| ₹12,00,001 to ₹16,00,000 | 15% |
| ₹16,00,001 to ₹20,00,000 | 20% |
| ₹20,00,001 to ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
Salaried people get a ₹75,000 standard deduction first. A rebate of up to ₹60,000 then cancels the tax on taxable income up to ₹12 lakh, so a salary of up to ₹12.75 lakh is tax-free. A 4% health and education cess is added to whatever tax is left.
Old regime tax slabs
The old regime has lower slab limits but lets you claim deductions like HRA, 80C and home loan interest. The tax-free limit depends on your age.
| Taxable income | Below 60 | 60 to 79 | 80 or older |
|---|---|---|---|
| Up to ₹2,50,000 | Nil | Nil | Nil |
| ₹2,50,001 to ₹3,00,000 | 5% | Nil | Nil |
| ₹3,00,001 to ₹5,00,000 | 5% | 5% | Nil |
| ₹5,00,001 to ₹10,00,000 | 20% | 20% | 20% |
| Above ₹10,00,000 | 30% | 30% | 30% |
The standard deduction is ₹50,000, and a rebate of up to ₹12,500 makes taxable income up to ₹5 lakh tax-free.
Old or new regime: which is better?
For most people, the new regime. The old regime only comes out ahead when your deductions and exemptions are large. Here's how much they need to add up to, apart from the standard deduction, before the old regime costs less:
| Salary | Tax, new regime | Old regime wins above |
|---|---|---|
| Up to ₹12.75 lakh | ₹0 | Never |
| ₹15 lakh | ₹97,500 | ₹5.44 lakh |
| ₹20 lakh | ₹1,92,400 | ₹7.09 lakh |
| ₹25 lakh | ₹3,19,800 | ₹8.01 lakh |
| ₹30 lakh | ₹4,75,800 | ₹8.01 lakh |
Taxes include the 4% cess, for someone below 60 with no other income. Above about ₹25 lakh, both regimes tax extra income at 30%, so the break-even stays at about ₹8 lakh.
A worked example
Priya earns ₹15 lakh a year in Pune, with a basic salary of ₹6 lakh and HRA of ₹2.4 lakh. She pays ₹18,000 a month in rent, invests ₹1.5 lakh in PF and ELSS, pays ₹25,000 for health insurance and ₹2,500 in professional tax.
- Old regime: her tax-free HRA is ₹1,56,000, and her deductions add up to ₹3,33,500 besides the standard deduction. Tax: ₹1,53,350.
- New regime: only the ₹75,000 standard deduction applies. Tax: ₹97,500.
The new regime saves her ₹55,850 a year, even with rent, investments and insurance. She would need more than ₹5.44 lakh of deductions for the old regime to win.
What changed from April 2026
- The Income-tax Act, 2025 replaced the 1961 Act on 1 April 2026. FY 2026-27 is now called tax year 2026-27.
- Slab rates, the ₹12 lakh rebate, surcharge and cess are unchanged. Budget 2026 didn't change them.
- Deductions kept their limits but got new section numbers. 80C, for example, is now section 123, still capped at ₹1.5 lakh.
- Bengaluru, Hyderabad, Pune and Ahmedabad now count as metros for HRA, so rent there can be tax-free up to 50% of basic salary instead of 40%.
- Form 16, the salary TDS certificate, becomes Form 130. You'll get the first one in June 2027 for tax year 2026-27.
How to use the income tax calculator
- Choose the financial year and your age.
- Enter your gross yearly salary and any other income, such as interest.
- If you're weighing up the old regime, add your HRA details and deductions. Leave blank anything that doesn't apply.
- Compare the two totals, and open the breakdown to see exactly how each one is worked out.
Paying rent? Our guide on claiming HRA with rent receipts explains what your employer needs, and the rent receipt generator makes a full year of receipts in one go.
This calculator is for resident individuals with salary and other income taxed at normal rates. It doesn't cover capital gains taxed at special rates or presumptive business income. Rates are from the Union Budget 2026-27 (indiabudget.gov.in) and the Income-tax Act, 2025 and Income-tax Rules, 2026 (incometax.gov.in). For decisions about your own taxes, check with a tax professional.
Questions
- How much tax do I pay on a ₹15 lakh salary?
- Under the new regime, ₹97,500 a year for FY 2026-27, including the 4% cess. That's after the ₹75,000 standard deduction, which leaves ₹14,25,000 taxable. Under the old regime with no deductions apart from the standard deduction, it's ₹2,57,400, so the old regime only makes sense if your deductions and exemptions add up to more than about ₹5.44 lakh.
- Is income up to ₹12 lakh tax-free?
- Yes, under the new regime. A rebate cancels the tax on taxable income up to ₹12 lakh, and salaried people also get a ₹75,000 standard deduction, so a salary of up to ₹12.75 lakh pays no tax. Just above that, marginal relief means your tax can't be more than the income above ₹12 lakh. The rebate doesn't cover capital gains taxed at special rates.
- Which tax regime is better for me?
- The new regime is better for most people, and it's the default. The old regime only wins if you have large deductions such as HRA, 80C investments, health insurance and home loan interest. On a ₹15 lakh salary they need to add up to more than about ₹5.44 lakh, on ₹20 lakh more than ₹7.09 lakh, and on ₹25 lakh or more, about ₹8 lakh. This calculator works out the break-even for your income.
- Can I switch between the old and new regime?
- If you only have salary and other non-business income, you can choose either regime every year when you file your return, even if you told your employer something different for TDS. If you have business or professional income, you can switch back to the new regime only once, so choose carefully.
- Can I claim HRA in the new tax regime?
- No. HRA, 80C investments, health insurance premiums, home loan interest on a home you live in and most other deductions are only allowed in the old regime. The new regime allows the ₹75,000 standard deduction, your employer's NPS contribution (up to 14% of basic salary) and a deduction for family pension.
- Which cities count as metros for HRA?
- From FY 2026-27, eight cities get the higher 50% HRA limit: Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Pune and Ahmedabad. Everywhere else the limit is 40% of basic salary. For FY 2025-26 and earlier, only Delhi, Mumbai, Kolkata and Chennai count.
- What is the surcharge on income tax?
- Surcharge is extra tax on high incomes: 10% of your tax above ₹50 lakh of taxable income, 15% above ₹1 crore and 25% above ₹2 crore. Under the old regime it rises to 37% above ₹5 crore; the new regime caps it at 25%. Marginal relief stops it from costing more than the income above each limit.
- Is my data saved or sent anywhere?
- No. The calculator runs in your browser, and nothing you type is sent to us or stored.
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