Income Tax Calculator FY 2026-27

FREEFinance & Business

TOOLIncome Tax Calculator FY 2026-27

Informational only. This calculator provides estimates based on the information you enter and publicly available rates. It is not professional tax, financial, or legal advice. Verify results with a qualified chartered accountant or tax advisor before filing. See our disclaimer.

Annual Gross Income (Rs)

₹12,00,000

Age Group

New Regime saves you ₹1,63,800/year in taxes

New RegimeBetter

₹0

total annual tax

Taxable income₹11,25,000

Effective rate0%

Yearly in-hand₹12,00,000

Old Regime

₹1,63,800

total annual tax

Taxable income₹11,50,000

Effective rate13.65%

Yearly in-hand₹10,36,200

New Regime — Tax vs Take-Home

Tax: ₹0 (0%)

Take-home: ₹12,00,000 (100.0%)

New Regime — Slab Breakdown

₹0 – ₹4,00,000 @ 0%₹0

₹4,00,000 – ₹8,00,000 @ 5%₹20,000

₹8,00,000 – ₹12,00,000 @ 10%₹32,500

87A Rebate-₹52,500

Health & Education Cess (4%)₹0

Total Tax₹0

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

100% freeNo signupRuns in your browser

TL;DR

Free income tax calculator for India FY 2026-27 — compares Old vs New regime side by side with slab-wise breakdown, 87A rebate, surcharge, and cess.
Shows which regime saves you more and by exactly how much.
Runs fully in your browser: no signup, no data sent to any server.

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About Income Tax Calculator FY 2026-27

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.

How It Works

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.

Who Is This For

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.

How to Use

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

Frequently Asked Questions

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.