New Tax Regime (All Taxpayers)
Note: Age does not matter in the new regime. Same slabs apply to all taxpayers (including senior and super senior citizens).
| Income Range | Tax Rate |
|---|---|
| Up to ₹4,00,000 | NIL (0%) |
| ₹4,00,001 - ₹8,00,000 | 5% |
| ₹8,00,001 - ₹12,00,000 | 10% |
| ₹12,00,001 - ₹16,00,000 | 15% |
| ₹16,00,001 - ₹20,00,000 | 20% |
| ₹20,00,001 - ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
Standard Deduction: ₹75,000 (for salaried individuals under new regime)
Section 87A Rebate: If taxable income ≤ ₹12 lakh and tax ≤ ₹60,000, then tax = 0. No rebate if income > ₹12 lakh or tax > ₹60,000.
Surcharge: Applies for income above ₹50 lakh (10% for ₹50L-₹1Cr, 15% for ₹1Cr-₹2Cr, 25% for ₹2Cr-₹5Cr, 37% above ₹5Cr).
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Frequently Asked Questions
How does this income tax calculator work?
Our calculator uses official Income-tax Act formulas and handles all major scenarios including: HRA exemption (old regime only from AY 2025-26 onwards), let-out property loss (capped at ₹2L in new regime), surcharge for high income (>₹50L), Section 87A rebate logic, and standard/itemized deductions under both regimes.
What are the income tax slabs for Tax Year 2026-27?
For Tax Year 2026-27 (FY 2026-27 / AY 2027-28), the new regime has slabs: 0% up to ₹4 lakhs, 5% for ₹4-8 lakhs, 10% for ₹8-12 lakhs, 15% for ₹12-16 lakhs, 20% for ₹16-20 lakhs, 25% for ₹20-24 lakhs, and 30% above ₹24 lakhs. Standard deduction is ₹75,000. Section 87A rebate of ₹60,000 applies if taxable income ≤ ₹12L and calculated tax ≤ ₹60k. Tax slabs are unchanged from Budget 2026.
Is HRA exemption allowed in the new tax regime?
No, HRA exemption u/s 10(13A) is NOT allowed in the New Tax Regime from AY 2025-26 onwards. However, HRA exemption is still fully available in the Old Tax Regime. This calculator correctly handles this - showing HRA exemption for old regime calculations while excluding it for new regime calculations.
Which tax regime should I choose?
Our calculator shows you exactly which regime saves more tax. Generally, choose the new tax regime if you don't have many deductions and exemptions. Choose the old regime if you have significant deductions like HRA, investments under Section 80C, 80D, home loan interest, etc. The calculator automatically compares both and shows which saves you more money.
Does this calculator handle surcharge for high income?
Yes, our calculator correctly applies surcharge for income above ₹50 lakh: 10% for ₹50L-₹1Cr, 15% for ₹1Cr-₹2Cr, 25% for ₹2Cr-₹5Cr, and 37% above ₹5Cr. This is often missing in other calculators, making ours more accurate for high-income taxpayers.
Is this calculator trusted by professionals?
Yes, our calculator uses official tax formulas and handles all edge cases correctly, making it suitable for use by Chartered Accountants, tax professionals, and individuals. It's more accurate than most commercial tax calculators available online.