Income Tax Calculator
Enter your salary and your deductions section by section — see a clear side-by-side of both regimes and which one you should pick.
Runs entirely in your browser — your numbers never leave this page.
How it works
Since FY 2023-24, India has two parallel tax regimes and you can pick whichever costs you less each year:
- New regime (default): lower slab rates, almost no deductions — just a Rs 75,000 standard deduction. Income up to Rs 12 lakh is effectively tax-free thanks to the section 87A rebate.
- Old regime: higher slab rates, but you keep deductions — 80C (Rs 1.5L), 80D (health insurance), HRA exemption, home-loan interest and more, plus a Rs 50,000 standard deduction.
New regime slabs (FY 2026-27): 0–4L nil, 4–8L 5%, 8–12L 10%, 12–16L 15%, 16–20L 20%, 20–24L 25%, above 24L 30%.
Old regime slabs: 0–2.5L nil, 2.5–5L 5%, 5–10L 20%, above 10L 30%.
A 4% health & education cess applies on the tax in both regimes. Rule of thumb: if your total deductions are under ~Rs 4–4.5 lakh, the new regime usually wins; heavy 80C + HRA + home-loan interest can tip it to the old.
Frequently asked questions
Which regime is better, old or new?
It depends on your deductions. With few deductions (under ~Rs 4 lakh), the new regime usually wins. With heavy 80C investments, HRA exemption and home-loan interest, the old regime can win. This calculator compares both for your exact numbers.
What are the new regime slabs for FY 2026-27?
0–4 lakh nil, 4–8 lakh 5%, 8–12 lakh 10%, 12–16 lakh 15%, 16–20 lakh 20%, 20–24 lakh 25%, above 24 lakh 30%. Budget 2026 left these unchanged.
Is income up to Rs 12 lakh really tax-free in the new regime?
Effectively, yes — the section 87A rebate wipes out tax on taxable income up to Rs 12 lakh. Just above that, marginal relief keeps the extra tax small instead of jumping suddenly.
Can I switch regimes every year?
Yes. Salaried individuals can choose between regimes every financial year. Business owners who opt out of the new regime face restrictions on switching back.
Which regime is the default?
The new regime is the default since FY 2023-24. You must explicitly opt for the old regime in your ITR if it suits you better.
What deductions can I claim in the old regime?
The big ones: 80C (EPF, PPF, ELSS, life insurance — up to Rs 1.5 lakh), 80D (health insurance premiums), HRA exemption, home-loan interest (up to Rs 2 lakh for self-occupied), NPS (80CCD), and the Rs 50,000 standard deduction.
Is the standard deduction available in both regimes?
Yes — Rs 75,000 in the new regime and Rs 50,000 in the old regime for salaried individuals.
What is the 4% cess?
A health and education cess levied at 4% on your computed income tax (after rebate, before surcharge). It applies in both regimes.
Does this calculator include surcharge?
No. Surcharge applies at very high incomes (above Rs 50 lakh in the old regime; above Rs 2 crore in the new regime, capped at 25%). For most salaried taxpayers it does not apply.
Do I still need to file ITR if my tax is zero?
Often yes — filing is mandatory above the basic exemption limit, and it is useful anyway for visa applications, loans, and carrying forward losses. Zero tax does not mean zero filing obligation.