FY 2026-27
Income Tax Calculator
Compare Old vs New regime and find which saves you more tax
Income & Deductions
Limit: ₹1,50,000
Self/family limit: ₹1,00,000
Limit: ₹2,00,000
Limit: ₹50,000
Results — FY 2026-27
New Regime saves you ₹76,440
The New Tax Regime with its wider slabs and enhanced ₹12L rebate is more beneficial for your income level. You can skip the hassle of gathering deduction proofs.
Old vs New Regime Comparison
Side-by-side comparison of taxable income, tax payable, and take-home salary
Old Regime Salary Breakdown
New Regime Salary Breakdown
Deduction Breakdown (Old Regime)
Detailed view of all deductions claimed under the Old Tax Regime
| Deduction | Claimed | Limit | Utilised |
|---|---|---|---|
| Standard Deduction | ₹50,000 | ₹50,000 | 100% |
| HRA Exemption | ₹1.20 L | ₹2.40 L | 50% |
| Section 80C (EPF, PPF, ELSS, LIC) | ₹1.50 L | ₹1.50 L | 100% |
| Section 80D (Medical Insurance) | ₹25,000 | ₹1.00 L | 25% |
| Section 24(b) (Home Loan Interest) | ₹0 | ₹2.00 L | 0% |
| NPS 80CCD(1B) | ₹50,000 | ₹50,000 | 100% |
| Other Deductions | ₹0 | ₹2.00 L | 0% |
| Total Deductions | ₹3.95 L | — | — |
Old Regime Slab Breakdown
| Slab | Rate | Income | Tax |
|---|---|---|---|
| 0 - 2.5L | 0% | ₹2.50 L | ₹0 |
| 2.5L - 5L | 5% | ₹2.50 L | ₹12,500 |
| 5L - 10L | 20% | ₹3.05 L | ₹61,000 |
New Regime Slab Breakdown
| Slab | Rate | Income | Tax |
|---|---|---|---|
| 0 - 4L | 0% | ₹4.00 L | ₹0 |
| 4L - 8L | 5% | ₹4.00 L | ₹20,000 |
| 8L - 12L | 10% | ₹3.25 L | ₹32,500 |
Tax Savings Insights
- Your 80C investments of ₹1.50 L save approximately ₹45,000 in the 30% bracket under Old Regime.
- NPS contribution of ₹50,000 under 80CCD(1B) provides additional tax benefit beyond 80C limit.
- You are not claiming home loan interest deduction (24b). If you have a home loan, claiming up to ₹2,00,000 could shift the balance towards Old Regime.
- The New Regime offers a standard deduction of ₹75,000 and full tax rebate up to ₹12L taxable income (FY 2026-27).
Important Note
This calculator provides an indicative comparison based on the FY 2026-27 tax slabs. Actual tax liability may differ based on additional exemptions, allowances (LTA, food coupons), capital gains, other income sources, and specific employer salary structure. The New Regime is the default regime; you need to explicitly opt for the Old Regime while filing returns. Consult a qualified tax professional for personalized tax planning.
Calculator results are for illustration purposes only. Actual returns may vary based on market conditions, fund performance, and other factors. Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. Past performance does not guarantee future returns.
Old vs New tax regime — which one leaves you with more?
India runs two parallel income-tax systems. The New Regime has lower slab rates but removes almost every deduction; the Old Regime keeps higher rates but lets you claim 80C, 80D, HRA, home-loan interest and more. There is no universally correct answer — the winner depends entirely on how many deductions you actually use.
This calculator computes your tax under both regimes for FY 2026-27 side by side, so you see the rupee difference for your own income and deductions rather than a rule of thumb. As a broad pattern, salaried people with a home loan and full 80C/80D/HRA usually still favour the Old Regime, while those who invest little in tax-saving instruments are usually better off in the New Regime with its higher standard deduction.
How this calculator works
- 1Enter your gross annual income (salary, and any other taxable income).
- 2Add the deductions you genuinely claim — 80C (up to ₹1.5 lakh), 80D health premium, HRA, home-loan interest under 24(b), NPS 80CCD(1B), and so on.
- 3The calculator applies FY 2026-27 slabs, the standard deduction, and applicable rebate to both regimes and shows the tax payable under each, plus which one saves you more.
Frequently asked questions
Which tax regime is better for FY 2026-27?
It depends on your deductions. If your total deductions (80C, 80D, HRA, home-loan interest, NPS) are large, the Old Regime often works out cheaper despite higher rates. If you claim few deductions, the New Regime’s lower rates and higher standard deduction usually win. This calculator shows the exact rupee difference for your numbers so you don’t have to guess.
Is the New Regime the default now?
Yes. The New Regime is the default tax regime — if you do nothing, your tax is computed under it. Salaried individuals can still choose the Old Regime each year while filing; those with business income face more restrictions on switching back and forth. Confirm your own eligibility with a Chartered Accountant.
What deductions are allowed in the New Regime?
The New Regime removes most deductions but retains a few — notably the standard deduction for salaried taxpayers and the employer’s NPS contribution under 80CCD(2). Common deductions like 80C, 80D, HRA and home-loan interest are not available under the New Regime.
Is income up to ₹12 lakh tax-free in the New Regime?
The New Regime gives a rebate under Section 87A that makes income up to a notified threshold effectively tax-free for resident individuals, and the standard deduction lifts the salaried break-even a little higher again. That threshold is raised in the Budget from time to time, so treat any specific figure as point-in-time and confirm the limit for FY 2026-27 before relying on it. This calculator applies the rebate automatically to your income.
Do ELSS investments save tax in the New Regime?
No. ELSS (and other 80C investments) only reduce tax under the Old Regime, where 80C allows up to ₹1.5 lakh of deduction. Under the New Regime the 80C deduction is not available, so an ELSS investment there is a market-linked investment decision, not a tax-saving one.
Does this calculator include cess and surcharge?
It applies the 4% Health and Education Cess on the tax computed. Surcharge applies at higher income levels and can differ between regimes; for high incomes, verify the exact surcharge with a tax professional before relying on the figure.
Related tools
Illustrative and for education only, based on FY 2026-27 slabs as understood at the time of writing. Tax rules change and depend on your full financial situation — consult a Chartered Accountant before filing.
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