Income Tax Calculator

Income tax for FY 2026-27 under the old and new regime side by side, with the standard deduction, 87A rebate and cess.

New regime slabs are uniform for all ages

Old-regime deductions

ignored by the new regime
EPF, PPF, ELSS, life insurance, kids' fees — capped ₹1.5L
Sec 24(b) capped ₹2L on self-occupied property
Enter the total you claim — e.g. HRA exemption + health insurance
Your annual income tax
—
New regime tax / year—
New regime TDS / month—
Old regime tax / year—
Old regime TDS / month—
Cheaper regime—
You save—
Effective rate (cheaper)—
Marginal slab reached—

Methodology & assumptions

how this number is produced

Tax = slab-wise progressive · then 87A/157 rebate (or marginal relief above ₹12L) · then +4% health & education cess

Assumptions

  • Slabs from tax-slabs.json — FY 2026-27 (AY 2027-28), Budget 2025-26 structure retained in Budget 2026-27
  • Standard deduction applied: ₹75,000 new regime · ₹50,000 old regime (salaried)
  • New-regime rebate: up to ₹60,000 when total income ≤ ₹12L · old-regime: ₹12,500 up to ₹5L
  • Marginal relief modelled above ₹12L in the new regime (₹12.5L income → ₹52,000, per the official table)
  • Deduction inputs apply only to the old regime; the new regime ignores them by design

Limitations

  • Surcharge (income above ₹50L), capital gains, business income and relief under sections 89/91 are NOT modelled
  • HRA and other exemptions must be entered as a total — this tool does not recompute them from components
  • Your employer's TDS computation can differ (payroll timing, declaration-based deductions)
  • This is an estimate for planning — not tax advice or a filing service; verify on the Income Tax portal

Results are informational estimates produced by MyCapitalverse's own models. They are not financial advice and may differ from how a lender, insurer or authority computes the same figure.

Verified 2026-09Next review: 2027-02-28incometaxindia.gov.in →Verify current terms before applyingReport outdated info

How to use the Income Tax calculator

  1. Enter gross salary or income.
  2. Add deductions you claim under the old regime (80C, 80D, HRA, home loan interest).
  3. Compare tax payable under both regimes.

About this tool

Compares your tax under both regimes using the current slabs so you can pick the cheaper one when you file or declare to your employer.

Built and reviewed by Savitar Finance (savitarfinance@gmail.com). Rules and rates last checked October 2026. How we calculate · Report a problem

Questions people ask

Which tax regime is better?

The new regime usually wins unless your old-regime deductions are large. The calculator shows both so you can see the break-even.

Is income up to ₹12 lakh tax-free?

Under the new regime, the Section 87A rebate makes tax nil up to ₹12 lakh of taxable income; salaried people also get a ₹75,000 standard deduction.