Work out your income tax for tax year 2026-27, FY 2025-26 or FY 2024-25 under the new or the old regime, with rebate, marginal relief, surcharge and cess shown line by line. Free, instant, no signup.
The calculator offers three years, each checked against official sources: tax year 2026-27 (1 April 2026 to 31 March 2027, the first year under the Income-tax Act, 2025), FY 2025-26 (assessment year 2026-27) and FY 2024-25 (assessment year 2025-26). The Income-tax Act, 2025 replaced the Income-tax Act, 1961 from 1 April 2026. It renumbered the sections, so the new regime is now section 202, the rebate is section 156 and the standard deduction is section 19, but the rates for tax year 2026-27 are the same as for FY 2025-26. The Finance Act, 2026, published in the Gazette of India on 30 March 2026, kept the old regime slabs, the surcharge and the 4% cess unchanged. The figures for FY 2025-26 and FY 2024-25 come from the Income Tax Department's pages on incometax.gov.in and incometaxindia.gov.in.
The new regime is the default. It allows very few deductions, but salary and pension income gets a standard deduction of ₹75,000.
For FY 2024-25 the new regime slabs were nil up to ₹3,00,000, 5% to ₹7,00,000, 10% to ₹10,00,000, 15% to ₹12,00,000, 20% to ₹15,00,000 and 30% above, with the same ₹75,000 standard deduction.
The old regime slabs are the same in all three years and depend on your age. Below 60: nil up to ₹2,50,000, 5% to ₹5,00,000, 20% to ₹10,00,000 and 30% above. From 60 to 79 the nil band goes up to ₹3,00,000, and at 80 or above it goes up to ₹5,00,000 with no 5% band. The standard deduction on salary is ₹50,000. Deductions such as 80C (up to ₹1,50,000), 80D health insurance, home loan interest on a self-occupied house (up to ₹2,00,000) and NPS under 80CCD(1B) (up to ₹50,000) are allowed, and the calculator caps each one at its limit.
A resident individual whose taxable income is not more than ₹12,00,000 pays no income tax in the new regime, because the rebate (section 87A, now section 156) cancels up to ₹60,000 of tax. Just above ₹12,00,000 there is marginal relief: the tax cannot be more than the income above ₹12,00,000. In the old regime the rebate is up to ₹12,500 when taxable income is not more than ₹5,00,000, with no marginal relief. For FY 2024-25 the new regime rebate was up to ₹25,000 for taxable income up to ₹7,00,000.
The standard deduction is a deduction from salary, so it is never more than the salary or pension you enter. Interest, rent and other income get no standard deduction. That is why this calculator asks for the two separately.
When taxable income is above ₹50 lakh, a surcharge is added to the tax: 10% above ₹50 lakh, 15% above ₹1 crore and 25% above ₹2 crore. The new regime stops at 25%, while the old regime charges 37% above ₹5 crore. Marginal relief applies at each step, so the tax and surcharge together cannot rise by more than the income above the threshold. Finally, a 4% health and education cess is charged on the tax plus surcharge, after the rebate.
Take tax year 2026-27, the new regime, a salary of ₹12,00,000 and ₹85,000 of interest. Gross income is ₹12,85,000. The ₹75,000 standard deduction comes off the salary, so taxable income is ₹12,10,000. Tax by slabs is ₹20,000 + ₹40,000 + ₹1,500 = ₹61,500. Because taxable income is only ₹10,000 above ₹12,00,000, marginal relief of ₹51,500 brings the tax down to ₹10,000. Cess of ₹400 makes the total ₹10,400.
If the same ₹12,85,000 were all interest, there would be no standard deduction. Taxable income would be ₹12,85,000 and tax by slabs ₹72,750, which is less than the ₹85,000 above ₹12,00,000, so there is no marginal relief. With ₹2,910 of cess the total is ₹75,660.
At a salary of ₹50,85,000, taxable income is ₹50,10,000 and tax by slabs is ₹10,83,000. A 10% surcharge would be ₹1,08,300, but marginal relief of ₹1,01,300 cuts it to ₹7,000, so tax and surcharge come to ₹10,90,000, just ₹10,000 more than at ₹50 lakh. With ₹43,600 of cess the total is ₹11,33,600.
