Income Tax Slab Rates
New Regime Slab Rates
Old Regime Slab Rates
* Slab rates vary for resident senior and super senior citizens.
Old Regime
₹0
New Regime
₹0
RecommendedEnter income details to see tax calculation
Important Note
For official filing, use the Income Tax e-filing portal at incometax.gov.in
Understanding Income Tax Calculation
Calculating your income tax can be complex when considering various deductions, exempt allowances, and income from multiple sources. Our Income Tax Calculator simplifies this process, helping you understand your tax liability without needing in-depth knowledge of tax laws.
What is the Income Tax Calculator?
Our Income Tax Calculator is an online tool designed to help you calculate your tax liability according to the Income Tax Act 1961. It enables you to compare your tax liability between the old and new tax regimes, making it easier to choose the option that benefits you most. The calculator has been updated to reflect tax changes for FY 2026-27, helping you plan your taxes effectively and make informed financial decisions.
How to Use the Income Tax Calculator
- Choose the financial year: Select the financial year for which you want to calculate your taxes.
- Select your age group: Your age affects tax liability under the old regime, as different age groups have different tax slabs.
- Enter income details: Input your salary (before exemptions), interest income, rental income, income from digital assets, and other sources. Include exempt allowances like HRA and LTA if applicable.
- Enter deductions: Under the old regime, you can enter tax-saving investments under sections 80C, 80D, 80G, 80E, and 80TTA. Note that NPS contributions (14% of base salary) are automatically calculated when you enter your base salary.
- View calculation: Click "View Calculation" to see your tax liability under both regimes and compare which one saves you more.
Income Tax Slab Rates for FY 2026-27
Note: No income tax for income up to ₹12 lakhs due to rebate u/s 87A (₹60,000). Rebates are not applicable for special tax income.
Individuals below 60 years:
Senior citizens (60-80 years):
Super senior citizens (80+ years):
Surcharge and Education Cess
Additional taxes apply if your income exceeds certain thresholds:
- • 10% of income tax if total income exceeds ₹50 lakh and is less than ₹1 crore
- • 15% of income tax if total income exceeds ₹1 crore and is less than ₹2 crore
- • 25% of income tax if total income exceeds ₹2 crore and is less than ₹5 crore
- • 25% of income tax if total income exceeds ₹5 crore (capped at 25% under new regime, 37% under old regime)
Additionally, Health and Education Cess at 4% is added to the income tax liability.
Rebate u/s 87A
When your total taxable income is within specified limits, you can claim a rebate that makes your tax liability zero:
- • Old Regime: Up to ₹5 lakhs
- • New Regime: Up to ₹12 lakhs
Note: From FY 2026-27, rebate is not applicable for income charged under special rates. Rebate is also not applicable on long-term capital gains under section 112A.
Standard Deduction
A standard deduction is available to reduce your taxable income:
- • New Regime: ₹75,000
- • Old Regime: ₹50,000
NPS Deduction
National Pension System (NPS) contributions are eligible for deduction. When you enter your base salary, our calculator automatically calculates NPS deduction at 14% of your base salary. This deduction is available under Section 80CCD(2) for employer contributions and can be part of Section 80C/80CCD for employee contributions.
Benefits of Using Our Income Tax Calculator
Our calculator calculates your tax liability accurately, eliminating potential errors from manual calculations.
Calculate your tax liability within seconds. The tool is accessible anytime, anywhere, making tax planning convenient.
Simply input your income and deduction details to accurately calculate your tax liability. No complex tax knowledge required.
Understanding your tax liability in advance helps with effective financial planning. You can allocate your budget wisely and invest in tax-saving instruments to reduce your tax liability.
Frequently Asked Questions
Simply enter your income and investment or deduction details in our calculator, and it will calculate your tax liability accurately for both old and new regimes.
If your income is below the basic exemption limit, you are not required to file income tax returns. However, if you want to claim an income tax refund, you must file your ITR even if your income is below the exemption limit.
Simply input your income and deduction details in our calculator. It will automatically calculate your tax liability along with surcharge and cess, and apply rebate if applicable to your case.
The old regime allows you to claim exemptions and deductions (e.g., HRA, 80C investments) to reduce your taxable income. The new regime offers lower tax rates but eliminates most exemptions and deductions. Our calculator compares your tax liability under both regimes to help you choose the best option.
Yes, our calculator can handle income from multiple sources such as salary, interest income, rental income, and capital gains. Simply input all your income details to get an accurate tax calculation.
Important Notes
- • ITR filing due date: ITR 1/2 - July 31 and ITR 3/4 - Aug 31
- • Rebate u/s 87A is not applicable on income charged under special rates or LTCG u/s 112A
- • Health & Education Cess: 4% on income tax + surcharge
- • Standard deduction: ₹75,000 (New Regime) and ₹50,000 (Old Regime)
- • NPS deduction: 14% of base salary is automatically calculated when you enter your base salary