How is income tax calculated for FY 2026-27?
Income tax is worked out slab by slab on taxable income after standard deduction, then reduced by rebate, with surcharge and 4% cess added. FixDoks's Income Tax Calculator applies new regime slabs (nil to 30%, rebate up to Rs 12 lakh) and old regime slabs together, so you can compare tax under both after entering income and deductions.
Income Tax Calculator India at a glance
| Inputs | Gross income, age group, salary status, old-regime deductions |
|---|---|
| Output | Tax under new and old regime, slab-wise working |
| Processing | In your browser; your files are not uploaded |
| Price | Free |
| Works on | Chrome, Edge, Safari and Firefox on Windows, Mac, Android and iPhone |
How to use Income Tax Calculator India (FY 2026-27)
- Enter your gross annual income taxed at slab rates (salary, pension, interest, rent after deductions and similar).
- Pick your age group and tick the salary box if you get salary or pension, for the standard deduction.
- Fill in old-regime deductions such as 80C, 80D, HRA and home loan interest. The new regime ignores them automatically.
- Compare the tax under both regimes and read the slab-wise working below.
What are the tax slabs for FY 2026-27?
From 1 April 2026 the Income-tax Act, 2025 replaced the Income-tax Act, 1961, and the old "assessment year" is now called the tax year. The Finance Bill 2026 made no change to personal tax rates, so the slabs for tax year 2026-27 (the year from April 2026 to March 2027, which older forms call AY 2027-28) are the same as the year before. The new regime is the default under section 202. You can opt for the old regime instead.
New regime (default)
| Taxable income | Rate |
|---|---|
| Up to ₹4,00,000 | Nil |
| ₹4,00,001 to ₹8,00,000 | 5% |
| ₹8,00,001 to ₹12,00,000 | 10% |
| ₹12,00,001 to ₹16,00,000 | 15% |
| ₹16,00,001 to ₹20,00,000 | 20% |
| ₹20,00,001 to ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
Standard deduction for salaried people and pensioners is ₹75,000. A rebate of up to ₹60,000 makes tax nil when taxable income is up to ₹12,00,000, so a salary of up to ₹12,75,000 pays no tax. Just above ₹12 lakh, marginal relief caps the tax at the amount by which income exceeds ₹12 lakh.
Old regime
| Taxable income | Below 60 | 60 to 79 | 80 and above |
|---|---|---|---|
| Up to ₹2,50,000 | Nil | Nil | Nil |
| ₹2,50,001 to ₹3,00,000 | 5% | Nil | Nil |
| ₹3,00,001 to ₹5,00,000 | 5% | 5% | Nil |
| ₹5,00,001 to ₹10,00,000 | 20% | 20% | 20% |
| Above ₹10,00,000 | 30% | 30% | 30% |
Standard deduction is ₹50,000 and the rebate is up to ₹12,500 when taxable income is up to ₹5,00,000. The old regime allows deductions such as 80C, 80D, HRA and home loan interest.
Surcharge and cess
Surcharge applies above ₹50 lakh (10%), ₹1 crore (15%), ₹2 crore (25%) and ₹5 crore (37% in the old regime, capped at 25% in the new regime), with marginal relief. A 4% health and education cess is added to tax plus surcharge in both regimes.
Worked example
Salary of ₹15,00,000 under the new regime:
- Taxable income = 15,00,000 − 75,000 = ₹14,25,000
- Tax: 5% of 4 lakh (₹20,000) + 10% of 4 lakh (₹40,000) + 15% of 2.25 lakh (₹33,750) = ₹93,750
- No rebate, since income is above ₹12 lakh. Cess 4% = ₹3,750
- Total tax = ₹97,500
Under the old regime with ₹1,50,000 in 80C and ₹25,000 in 80D, taxable income is ₹12,75,000 and tax with cess comes to ₹2,02,800. The new regime saves ₹1,05,300 here. The old regime usually wins only when deductions are large, for example big HRA plus home loan interest.
What does this calculator not cover?
It is built for resident individuals with income taxed at slab rates. Capital gains taxed at special rates (for example on listed shares), lottery winnings, agricultural income and business presumptive schemes need a full computation. Use it to choose a regime and plan your investments, then confirm with the income tax portal or a tax professional before filing.
Results are estimates for planning. Your bank, fund house or the tax department may round differently or apply extra charges, so check the final figure with them.