Last Updated: June 5, 2026 | Reviewed by: Parul Singh (GST Practitioner, 15+ years experience)
Income tax calculator for FY 2026-27 (AY 2027-28). Calculate your income tax liability under both the new tax regime and old tax regime. The new Income Tax Act 2025 is effective from April 2026 with no tax on income up to ₹12 lakh under the new regime.
🆕 Income Tax Act 2025 Highlights: No tax up to ₹12 lakh | Simplified 536 sections | New slabs effective April 2026
Quick Tax Calculator
Income Tax Slabs 2026-27 — New vs Old Regime
| New Tax Regime (Default) | Tax Rate | Old Tax Regime | Tax Rate |
|---|---|---|---|
| Up to ₹3,00,000 | Nil | Up to ₹2,50,000 | Nil |
| ₹3,00,001 – ₹6,00,000 | 5% | ₹2,50,001 – ₹5,00,000 | 5% |
| ₹6,00,001 – ₹9,00,000 | 10% | ₹5,00,001 – ₹10,00,000 | 20% |
| ₹9,00,001 – ₹12,00,000 | 15% | Above ₹10,00,000 | 30% |
| ₹12,00,001 – ₹15,00,000 | 20% | ||
| Above ₹15,00,000 | 30% | ||
💡 Key Benefit: Under the new regime, if your total income is up to ₹12 lakh, you pay zero tax (after Section 87A rebate of up to ₹60,000). This means effective tax-free income of ₹12 lakh!
FAQ
❓ Which regime is better for me?
If your deductions (80C, 80D, HRA, etc.) exceed ₹3.75 lakh, the old regime saves more tax. Otherwise, the new regime is simpler and often cheaper.
If your deductions (80C, 80D, HRA, etc.) exceed ₹3.75 lakh, the old regime saves more tax. Otherwise, the new regime is simpler and often cheaper.
❓ What is Section 80C?
Section 80C allows deduction up to ₹1.5 lakh for PPF, ELSS, NPS, life insurance, home loan principal, etc. (Only available in old regime.)
Section 80C allows deduction up to ₹1.5 lakh for PPF, ELSS, NPS, life insurance, home loan principal, etc. (Only available in old regime.)
❓ How to file ITR online?
Visit incometax.gov.in → Login → e-File → Income Tax Return → Select form → Fill details → Verify. Deadline: July 31, 2026 for salaried.
Visit incometax.gov.in → Login → e-File → Income Tax Return → Select form → Fill details → Verify. Deadline: July 31, 2026 for salaried.
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