InHandCalc
Salary calculator Income Tax HRA exemption EPF Gratuity SIP
Tools
Job offer comparison Salary hike calculator

Income tax calculator — FY 2026-27

Enter your income and deductions to compare old vs new regime tax instantly. Updated for AY 2027-28 slabs.

Your income & deductions
Income
₹
Not your CTC — use gross salary from Form 16 (CTC minus employer EPF). Use the salary calculator to find your gross from CTC.
₹
Old regime deductions

These apply only under the old regime. Leave blank if not applicable.

₹
Capped at ₹1,50,000
₹
₹25,000 self + family; ₹50,000 if parents are senior citizens
₹
Use the HRA calculator to find your exact exemption amount
₹
Capped at ₹2,00,000 for self-occupied property
₹
Over and above 80C; capped at ₹50,000
₹
Tax comparison — FY 2026-27
New regime saves you
₹0

New regime

—
Total tax payable

Old regime

—
Total tax payable
Breakdown New Old
Gross income — —
Standard deduction — —
Taxable income — —
Income tax — —
Health & education cess (4%) — —
Total tax — —
Effective tax rate — —
Monthly take-home* — —

*Approximate. Does not account for EPF, professional tax, or other employer deductions. Use the salary calculator for a full in-hand estimate.

🧮
Enter your income to compare
Fill in your annual income and any deductions, then hit Calculate tax to see a side-by-side breakdown of old vs new regime.

Frequently asked questions

Which tax regime is better for FY 2026-27?
It depends on your deductions. The new regime offers lower slab rates but no deductions (except ₹75,000 standard deduction). The old regime allows 80C (₹1.5L), 80D, HRA, home loan interest, and more. Generally: if your total deductions exceed ~₹3.75 lakh, old regime saves more. Below that, new regime wins. Use this calculator with your actual numbers to find out.
What is the income tax slab for FY 2026-27 under the new regime?
New regime slabs FY 2026-27: 0% up to ₹4L → 5% on ₹4–8L → 10% on ₹8–12L → 15% on ₹12–16L → 20% on ₹16–20L → 25% on ₹20–24L → 30% above ₹24L. Standard deduction ₹75,000. 87A rebate up to ₹60,000 makes income up to ₹12.75L effectively tax-free for salaried employees.
What is the income tax slab for FY 2026-27 under the old regime?
Old regime slabs FY 2026-27: 0% up to ₹2.5L → 5% on ₹2.5–5L → 20% on ₹5–10L → 30% above ₹10L. Standard deduction ₹50,000. 87A rebate up to ₹12,500 for taxable income up to ₹5L. Plus 4% cess on tax. The old regime allows a wide range of deductions under Sections 80C, 80D, 80E, HRA, etc.
Can I switch between old and new regime every year?
Salaried employees (without business income) can switch regimes every year when filing their ITR. You can also inform your employer which regime to use for TDS purposes — but if you don't declare, the employer defaults to the new regime from FY 2024-25. You can switch at ITR filing time regardless of what your employer deducted.
Is income up to ₹12 lakh tax-free under the new regime?
Effectively yes for salaried employees. Under the new regime, with ₹75,000 standard deduction, a gross salary of ₹12,75,000 gives taxable income of ₹12,00,000. The tax on this (₹60,000) is fully offset by the Section 87A rebate, resulting in zero tax. Income above ₹12,75,000 gross is taxed normally — the rebate does not apply once taxable income crosses ₹12L.
What deductions are not allowed in the new regime?
Most common deductions are not available in the new regime: 80C (ELSS, EPF, LIC, PPF), 80D (health insurance), HRA exemption, home loan interest (Section 24b), 80E (education loan), 80G (donations), LTA, professional tax. Only the ₹75,000 standard deduction and employer's NPS contribution (Section 80CCD(2)) are allowed. Read our old vs new regime guide for the full comparison.