Tax/Income Tax Calculator
Income Tax Calculator
Compute your tax liability under the Old or New Regime for FY 2026-27 — full breakdown of rebate, surcharge, and cess, not just a final number.
Your details
Total tax liability
₹0
What this calculates
Your income tax liability for FY 2026-27, under whichever regime you choose. The New Regime is the default regime since Budget 2023 but the Old Regime — with its deductions for 80C, HRA, home loan interest, and more — can still work out cheaper depending on your situation.
Formula
Tax is computed slab-by-slab (marginal rates, not a flat rate on the whole income), then the Section 87A rebate is applied if your taxable income is within the rebate ceiling (₹12L new regime, ₹5L old regime), then surcharge (only above ₹50L) with marginal relief, then a flat 4% Health & Education Cess on tax + surcharge.
Worked example
Taxable income of ₹15,00,000 under the New Regime: tax on slabs = ₹1,05,000 (no rebate, since income exceeds the ₹12L ceiling), no surcharge (income below ₹50L), cess = ₹4,200. Total = ₹1,09,200.
FAQs
Which regime should I pick?
Depends on your deductions. If you have significant 80C investments, HRA, or home loan interest, the Old Regime is often cheaper. If you claim few deductions, the New Regime’s lower slabs usually win. Run both here and compare.
Does this account for staff loan perquisite tax?
Not yet. Concessional interest on PNB staff loans (home, vehicle, OD) can create a taxable perquisite under Rule 3(7)(i) — this isn’t built into the calculator yet. Treat this calculator as accurate for salary income and standard deductions, not as the final word if you carry concessional staff loans.
References
Income Tax Department, incometax.gov.in — Salaried Individuals for AY 2026-27.