A income tax calculator India is a free online tool that gives you instant results without any signup or fees. It covers income tax 2026-27, old vs new tax regime, tax slabs India and more — all in one place.
Income Tax Calculator FY 2026-27
Calculate income tax for FY 2026-27 under old and new tax regime. Compare both regimes to see which saves you more tax this year.
New Tax Regime Slabs 2026-27
New regime: 0% up to Rs 4L, 5% Rs 4-8L, 10% Rs 8-12L, 15% Rs 12-16L, 20% Rs 16-20L, 25% Rs 20-24L, 30% above Rs 24L. Standard deduction: Rs 75,000.
Old vs New Tax Regime Comparison
New regime wins if your deductions are below Rs 3.75 lakh. Old regime wins if you have home loan interest, HRA, 80C, 80D totalling above Rs 3.75 lakh.
Section 80C Deductions 2026
Section 80C allows up to Rs 1.5 lakh deduction for PPF, ELSS, EPF, LIC premium, home loan principal, NSC and 5-year FD. Only available in old regime.
Income Tax on Salary Calculator
Enter your annual CTC, then subtract standard deduction and applicable deductions. This income tax calculator shows exact tax payable in both regimes.
Frequently Asked Questions
Which tax regime is better for FY 2026-27?
New regime is better if your total deductions are below Rs 3.75 lakh. Old regime is better if you claim home loan interest, HRA, 80C and 80D together exceeding Rs 3.75 lakh. Use the income tax calculator above to compare.
What is the income tax on 10 lakh salary in 2026?
Under new regime: taxable income after Rs 75,000 standard deduction = Rs 9.25 lakh. Tax = Rs 5,000 (4-8L at 5%) + Rs 12,500 (8-9.25L at 10%) = Rs 17,500 plus 4% cess = Rs 18,200 approximately.
Is income up to Rs 7 lakh tax free?
Under the new regime, if taxable income after standard deduction is up to Rs 7 lakh, Section 87A rebate makes it zero tax. Above Rs 7 lakh, tax applies from the first slab — not just the amount above Rs 7 lakh.
What is the standard deduction for salaried employees in 2026?
Standard deduction is Rs 75,000 under the new regime and Rs 50,000 under the old regime for FY 2026-27. This was increased from Rs 50,000 to Rs 75,000 for the new regime in Budget 2025.
What is the last date to file ITR for FY 2026-27?
For salaried individuals without audit, ITR filing deadline is 31 July 2027. Late filing attracts penalty up to Rs 5,000 under Section 234F. ITR can be filed on incometax.gov.in.