Free · unlimited · FY 2026–27
Income tax calculator — old vs new regime
Enter your income once. We compute both regimes, apply the standard deduction and the 87A rebate, add surcharge and 4% cess, and tell you which one to pick — with the slab arithmetic underneath so you can check it.
Your numbers
The ₹75,000 standard deduction applies to salary and pension only.
Before any deductions, for FY 2026–27.
Deductions — old regime only
Max ₹1,50,000
Max ₹2,00,000
You should pick
New regime
Saves you ₹70,720 against the old regime this year.
New regime
₹1,50,800
No deductions except the ₹75,000 standard one. Income up to ₹12 lakh pays nothing after the 87A rebate.
Old regime
₹2,21,520
After ₹4,65,000 of deductions. You would need about ₹6,42,000 to break even.
How the new regime number is built
| Slab | Rate | Income in slab | Tax |
|---|---|---|---|
| ₹0 – ₹4,00,000 | Nil | ₹4,00,000 | ₹0 |
| ₹4,00,001 – ₹8,00,000 | 5% | ₹4,00,000 | ₹20,000 |
| ₹8,00,001 – ₹12,00,000 | 10% | ₹4,00,000 | ₹40,000 |
| ₹12,00,001 – ₹16,00,000 | 15% | ₹4,00,000 | ₹60,000 |
| ₹16,00,001 – ₹20,00,000 | 20% | ₹1,25,000 | ₹25,000 |
| Tax before cess | ₹1,45,000 | ||
This is one year, calculated once.
Taxlabs keeps it current all year — reads last year's ITR, tracks your proofs as you upload them, and files the return with a CA.
Frequently asked
Is the new regime the default for FY 2026–27?
Yes. The new regime has been the default since FY 2023–24 and applies unless you opt out. Salaried taxpayers can switch between regimes each year; those with business income can switch back only once.
What is the standard deduction under each regime?
₹75,000 under the new regime and ₹50,000 under the old one, available against salary and pension income. It does not apply to business or freelance income.
Do I pay any tax if I earn ₹12 lakh?
Under the new regime, no. The section 87A rebate covers the full liability up to ₹12 lakh of taxable income, and marginal relief softens the jump just above it. A salaried person with the ₹75,000 standard deduction effectively pays nothing up to ₹12.75 lakh of salary.
How much in deductions do I need before the old regime wins?
It depends on income. At ₹18 lakh you need roughly ₹8 lakh of deductions, which in practice means a full 80C, HRA and a home loan. The calculator shows your own break-even figure once you enter your income.
Does this include surcharge?
Yes. Surcharge starts above ₹50 lakh of total income and is applied automatically. The new regime caps surcharge at 25%, while the old regime goes up to 37% above ₹5 crore.
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Coming soonComputed on the rates in force for FY 2026–27 (AY 2027–28) as at the date of publication. This is a calculator, not tax advice — special rates for capital gains, lottery income and similar are not applied. Nothing you type is sent to us or stored.