Calculate your income tax for FY 2026-27 using our free income tax calculator. Compare old vs new tax regime and find which regime saves you more tax. Our calculator uses the latest income tax slabs announced for 2026 with accurate calculations including 4% cess. Whether you're a salaried employee or self-employed, get instant tax calculations and make informed decisions about your tax planning. The new regime offers standard deduction of ₹75,000 while old regime allows various deductions under Section 80C, 80D, HRA exemptions, and home loan interest benefits.
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| Income Slab | Tax Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 - ₹5,00,000 | 5% |
| ₹5,00,001 - ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Standard Deduction: ₹50,000 + Deductions under 80C, 80D, HRA
| Income Slab | Tax Rate |
|---|---|
| Up to ₹3,00,000 | Nil |
| ₹3,00,001 - ₹7,00,000 | 5% |
| ₹7,00,001 - ₹10,00,000 | 10% |
| ₹10,00,001 - ₹12,00,000 | 15% |
| ₹12,00,001 - ₹15,00,000 | 20% |
| Above ₹15,00,000 | 30% |
Standard Deduction: ₹75,000 (No other deductions)
Income tax calculation in India follows a progressive tax system where different portions of your income are taxed at different rates. Here's the step-by-step process:
Let's calculate tax for ₹12 lakh annual income in new regime:
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