Income Tax Calculator

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Income Tax Calculator

FY 2026-27 (AY 2027-28) · Old & New Regime · All Major Exemptions

Select Tax Regime

Income Type

Standard deduction of ₹75,000 (New) / ₹50,000 (Old) applied automatically for salaried income.
Annual Gross Income₹12,00,000
Employer NPS — Sec 80CCD(2)₹0

Old Regime Deductions

Sec 80C₹0
Sec 80CCD(1B) — NPS Self₹0
HRA Exemption₹0
Home Loan Interest — Sec 24(b)₹0
Sec 80D — Health Ins. (Self)₹0
Sec 80D — Health Ins. (Parents)₹0
Sec 80E — Education Loan Interest₹0
Sec 80G — Donations₹0
Sec 80TTA — Savings Interest₹0

Total Tax Payable (incl. cess)
₹0
Effective Rate: 0%
—
Monthly TDS
—
In-Hand (Yearly)
Gross Income₹0
Total Deductions− ₹0
Taxable Income₹0
Tax (before cess)₹0
Surcharge₹0
Health & Edu. Cess (4%)₹0

Regime Comparison

New Regime
₹0
Old Regime
₹0

Slab-wise Tax Breakdown

Income SlabRateSlab AmountTax on Slab

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Frequently Asked Questions

Which regime should I choose?

If your total deductions (80C + HRA + 80D + home loan interest etc.) exceed roughly ₹3.75L for income above ₹15L, the Old Regime is usually better. Use the comparison box in the calculator to check your specific situation.

Is ₹12 lakh really tax-free under New Regime?

For salaried individuals: yes. Gross income up to ₹12,75,000 (₹12L + ₹75K standard deduction) results in zero tax thanks to the full Sec 87A rebate.

Can I switch regimes every year?

Salaried individuals can switch every year at the time of filing ITR. Business or professional income earners can switch from New to Old only once in a lifetime.

What is Sec 87A rebate?

A direct tax rebate that eliminates liability if taxable income does not exceed ₹12L (New Regime) or ₹5L (Old Regime). It does not apply to special-rate income like LTCG on equity.