Indian Income Tax Calculator (2026-27) – ILoveInstaDownloader
Updated for FY 2026-27
Indian income tax calculator
Compare the New and Old tax regimes for FY 2026-27 (AY 2027-28). Enter your salary to see monthly and yearly tax, take-home pay, and exactly which bracket you fall into.
Gross monthly salary₹1,00,000
₹0
Monthly tax
₹0
Monthly take-home
₹0
Yearly tax (with cess)
₹0
Yearly take-home
0%
Effective tax rate
Taxable income of ₹0 (after standard deduction) falls in the 0% slab.
Take-home 100%Tax 0%
Taxable income (₹, New regime)Tax rate
Indian income tax, explained
Every year the Union Budget can revise income tax slabs. This calculator uses the rates confirmed for FY 2026-27 (AY 2027-28) — the slabs introduced in Budget 2025 for the New regime, carried forward unchanged in Budget 2026, alongside the unchanged Old regime slabs.
How the calculator works
Choose a regime — New (default, lower rates, few deductions) or Old (higher rates, more deductions and exemptions).
Choose Monthly or Yearly — enter your salary either way and the calculator converts.
Enter your gross salary — before any standard deduction or tax.
Read your results — monthly and yearly tax (including 4% Health and Education Cess), take-home pay, effective rate, and your exact slab.
The calculator applies the standard deduction (₹75,000 under the New regime, ₹50,000 under the Old regime), the Section 87A rebate, and marginal relief on the New regime where applicable — the same logic used in official tax computations.
New regime slabs — FY 2026-27
The New regime is the default option. Income up to ₹12,00,000 of taxable income (after the ₹75,000 standard deduction) is effectively tax-free thanks to the Section 87A rebate — meaning a gross salary up to roughly ₹12,75,000 attracts zero tax.
Old regime slabs (unchanged)
The Old regime keeps its traditional slabs and allows deductions like Section 80C, HRA, and home loan interest that the New regime doesn't. Under the Old regime, taxable income up to ₹5,00,000 (after the ₹50,000 standard deduction) is effectively tax-free via the Section 87A rebate.
How the formula works
Tax = Slab-wise tax on taxable income − Section 87A rebate (if eligible) + 4% Health & Education Cess
For example, under the New regime, a taxable income of ₹13,00,000 gross annual salary (₹12,25,000 after deduction) falls across several slabs: ₹0 in the 0% band, ₹20,000 in the 5% band, ₹40,000 in the 10% band, and ₹3,750 in the 15% band — but marginal relief caps the tax at the amount of income above ₹12,00,000, so the actual tax works out to about ₹25,000 before cess.
Frequently asked questions
The New Tax Regime is the default. If you want to be taxed under the Old regime, you need to explicitly opt for it when filing your return (or inform your employer for TDS purposes).
Taxable income up to ₹12,00,000 (after the ₹75,000 standard deduction) is effectively tax-free due to the Section 87A rebate of up to ₹60,000 — which works out to a gross salary of about ₹12,75,000.
Marginal relief ensures that if your taxable income is just above the ₹12,00,000 rebate threshold, your tax doesn't jump sharply — it's capped at the amount by which your income exceeds ₹12,00,000, until the slab-computed tax naturally exceeds that cap.
No. The Union Budget 2026 kept both the New and Old regime slabs, standard deductions, and rebate limits unchanged from FY 2025-26 for FY 2026-27 (AY 2027-28).
The Old regime allows deductions like Section 80C (up to ₹1.5 lakh for investments like PPF, ELSS, life insurance), HRA exemption, home loan interest under Section 24(b), and more. The New regime allows only a small set, such as the standard deduction and employer NPS contributions under Section 80CCD(2).
Yes. The Health and Education Cess of 4% is applied on top of the income tax (after any rebate) in both regimes, matching the official calculation method.
Disclaimer: This calculator provides estimates for salaried individuals based on FY 2026-27 (AY 2027-28) slabs and runs entirely in your browser — no figures you enter are sent to or stored on any server. It does not account for surcharge on very high incomes, HRA, Section 80C or other Old-regime deductions beyond the standard deduction, or your specific exemptions. This tool does not constitute tax or financial advice; please consult the Income Tax Department or a chartered accountant for your exact liability.
