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See your exact tax in 30 seconds — Old vs New regime
₹12,00,000
₹0
total annual tax
₹1,63,800
total annual tax
| Component | New Regime | Old Regime |
|---|---|---|
| Gross Income | ₹12,00,000 | ₹12,00,000 |
| Total Deductions | ₹75,000 | ₹50,000 |
| Taxable Income | ₹11,25,000 | ₹11,50,000 |
| Tax (before rebate) | ₹52,500 | ₹1,57,500 |
| 87A Rebate | ₹52,500 | ₹0 |
| Surcharge | ₹0 | ₹0 |
| Health & Education Cess (4%) | ₹0 | ₹6,300 |
| Total Tax | ₹0 | ₹1,63,800 |
| Effective Tax Rate | 0% | 13.65% |
| Yearly In-Hand | ₹12,00,000 | ₹10,36,200 |
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Calculating income tax for FY 2026-27 requires applying two entirely different sets of slab rates, checking the Section 87A rebate, computing surcharge if income exceeds Rs 50 lakh, and adding the 4% cess. For most salaried employees, the question is simply which regime results in a lower final number. This calculator does both computations in parallel — with a slab-by-slab breakdown — so you see exactly where each rupee of tax comes from.
Under the New Regime, after deducting the Rs 75,000 standard deduction, income is taxed at the FY 2026-27 slabs: 0% up to Rs 4 lakh, 5% from Rs 4-8 lakh, 10% from Rs 8-12 lakh, 15% from Rs 12-16 lakh, 20% from Rs 16-20 lakh, 25% from Rs 20-24 lakh, and 30% above Rs 24 lakh. If taxable income is at or below Rs 12 lakh, the Section 87A rebate wipes out the computed tax entirely.
Under the Old Regime, deductions — 80C (up to Rs 1.5L), 80D, NPS under 80CCD(1B) (up to Rs 50K), HRA exemption, and home loan interest under Section 24(b) — are subtracted from gross income before applying age-based slabs. A smaller 87A rebate (up to Rs 5 lakh taxable income) applies here.
Surcharge on tax is applied at 10% (income Rs 50-100L), 15% (Rs 1-2Cr), 25% (Rs 2-5Cr), and 30% (above Rs 5Cr, Old Regime only). Finally, 4% health and education cess is added.
A senior software architect earning Rs 28 LPA verifying whether their 80C, HRA, and NPS deductions justify staying on the Old Regime.
A 65-year-old retired professional with pension income checking tax under the Old Regime using the senior citizen slab (no tax up to Rs 3 lakh).
A startup founder with Rs 35 lakh income from business wanting to see the slab-wise tax breakdown before paying advance tax.
A couple comparing individual income tax obligations to decide whether splitting investments between spouses optimizes the overall household tax.
Scope note: Calculations use FY 2026-27 New Regime slabs and Old Regime rates for Indian resident individuals. Does not model surcharge marginal relief near the Rs 50 lakh or Rs 1 crore thresholds, or special tax rates for special income types (LTCG, STCG, virtual digital assets). NRI taxation follows different rules. Consult a chartered accountant for complex income profiles.
Disclaimer: This calculator is for informational and educational purposes only and does not constitute financial, tax, or legal advice. Results are estimates based on publicly available tax slabs and formulas. Consult a qualified Chartered Accountant, tax professional, or financial advisor for guidance specific to your situation. Built and maintained by the WOWHOW Team with 14+ years of software development experience.
Enter your annual gross income and select your age group
Add deductions for Old Regime — 80C, 80D, HRA, NPS
View side-by-side comparison of Old vs New regime tax
Check the slab-wise breakdown and donut chart for tax vs take-home split
About the Income Tax Calculator FY 2026-27
New Regime (FY 2026-27): 0-4L = 0%, 4-8L = 5%, 8-12L = 10%, 12-16L = 15%, 16-20L = 20%, 20-24L = 25%, above 24L = 30%. Standard deduction of Rs 75,000 applies.
Under the new regime, if your taxable income is up to Rs 12 lakh, you get a full rebate under Section 87A — making tax effectively zero. Marginal relief applies near the threshold.
New regime is generally better if your total deductions are below ~Rs 4-5 lakh. Old regime benefits those with large deductions — 80C, HRA, home loan interest, etc.
Surcharge is levied on high incomes: 10% for income 50L-1Cr, 15% for 1-2Cr, 25% for 2-5Cr, 37% for above 5Cr (capped at 25% under new regime from FY 2023-24).
No — the calculator works for any Indian resident individual with income from salary, business, profession, or other sources. Enter your total gross income and applicable deductions. Freelancers and consultants can add their presumptive income (50% of receipts under 44ADA) as gross income. NRIs follow separate slab rules not modelled here.
Health and education cess is 4% levied on the total income tax plus surcharge. It is mandatory and non-deductible. The calculator applies cess automatically after computing the base tax and any applicable surcharge, giving you the final tax liability including cess.
Yes. The calculator shows each tax slab and the exact tax computed on the portion of income falling in that slab. This makes it clear that the marginal rate applies only to the incremental income, not the entire income — a common misconception. The slab breakdown is shown for both Old and New regimes.
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