Income Tax Calculator
Calculate your income tax liability for FY 2026-27 under either the new or old tax regime, including standard deduction, Section 87A rebate, and health & education cess.
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Your result
₹0
Total tax payable
AI explanation
Formula
Tax = slab-wise tax on taxable income, less Section 87A rebate (if eligible), plus 4% health & education cessWorked example
₹15,00,000 gross income, New Regime
| Field | Value |
|---|---|
| Gross annual income | 1500000 |
| Tax regime | new |
| Deductions (Section 80C, etc. — old regime only) | 0 |
| Taxable income | 1425000 |
| Total tax payable | 97500 |
Assumptions
- Applies to individuals below 60 years of age (no senior/super-senior citizen slabs).
- New regime standard deduction ₹75,000; old regime standard deduction ₹50,000.
- Surcharge (applicable above ₹50 lakh taxable income) is not included in this calculation.
- Old regime models only a single Section 80C-style deduction input, not HRA, 80D, or other individual sections.
Frequently asked questions
What is the Section 87A rebate?
Section 87A gives a full tax rebate (making net tax zero) if your taxable income is at or below a threshold — ₹12,00,000 under the new regime (rebate up to ₹60,000) or ₹5,00,000 under the old regime (rebate up to ₹12,500) for FY 2026-27.
Which regime should I choose?
The new regime generally benefits taxpayers with fewer deductions; the old regime can be better if you claim substantial deductions (80C, HRA, home loan interest, etc.). Use the Old vs New Regime Comparison Calculator to compare both for your exact numbers.
Did Union Budget 2026 change the tax slabs?
No — the Union Budget presented in February 2026 did not change the income tax slabs or basic exemption limits for FY 2026-27; they remain the same as FY 2025-26.
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Sources
- Union Budget 2026 — income tax provisions summary — Government of India (via cleartax.in secondary summary). Effective 01-04-2026, reviewed 12-09-2026.
This calculator applies the individual income tax slabs, standard deduction, and Section 87A rebate for FY 2026-27 (AY 2027-28) as notified up to the date shown below. It does not include surcharge, and does not constitute tax advice — consult a qualified tax professional for your specific situation.
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