Income Tax Calculator
India · FY 2026-27Compare old vs new regime — slabs, standard deduction, 87A rebate and 4% cess — and see your in-hand take-home.
Your income & deductions
capped at ₹1.5L for tax; old regime only.
added to taxable income; treated as old-regime deduction-eligible base here.
old regime only.
Chapter VI-A deductions; old regime only.
Quick total deductions (old regime)
Results update live — calculations run in your browser, no signup.
₹97,500
94% stays in your pocket — ₹1.17 L/mo in hand
Recommended
New regime · saves ₹1.05 L
You're viewing the cheaper regime — ₹1.05 L less tax than the old regime.
Applies FY 2026-27 slabs, standard deduction (₹50k old / ₹75k new), 87A rebate and 4% cess for a resident individual below 60. Excludes surcharge above ₹50L and marginal relief.
Both run on your ₹15.00 L income — the cheaper one is highlighted.
| Line item | Old regime | New regime · cheaper |
|---|---|---|
| Gross income | ₹15.00 L | ₹15.00 L |
| Standard deduction | −₹50,000 | −₹75,000 |
| Other deductions (80C/80D/HRA…) | −₹1.75 L | ₹0 |
| Taxable income | ₹12.75 L | ₹14.25 L |
| Tax before rebate | ₹1.95 L | ₹93,750 |
| 87A rebate | -₹0 | -₹0 |
| Health & edu. cess (4%) | ₹7,800 | ₹3,750 |
| Total tax payable | ₹2,02,800 | ₹97,500 |
| In-hand take home | ₹12.97 L | ₹14.03 L |
Choosing the new regime saves you ₹1,05,300 — that's 52% less than the old regime on the same income.
Break-even: the old regime only beats the new once your total deductions exceed ₹5,43,750 (you currently claim ₹1,75,000).
Tax breakup — new regime
Slab-wise tax on ₹14.25 L taxable income.
Taxable
₹14.25L
Before rebate
₹93.8K
87A rebate
—
+ Cess (4%)
₹3.8K
Total tax
₹97.5K
Tax before cess is ₹93,750; the 4% cess adds ₹3,750 on top.
Slab-by-slab under both regimes
Your ₹15.00 L income, so you can see exactly where they differ.
| Slab | Rate | Tax |
|---|---|---|
| ₹0 – ₹2.50 L | 0% | ₹0 |
| ₹2.50 L – ₹5.00 L | 5% | ₹12,500 |
| ₹5.00 L – ₹10.00 L | 20% | ₹1.00 L |
| ₹10.00 L – ₹12.75 L | 30% | ₹82,500 |
| Slab | Rate | Tax |
|---|---|---|
| ₹0 – ₹4.00 L | 0% | ₹0 |
| ₹4.00 L – ₹8.00 L | 5% | ₹20,000 |
| ₹8.00 L – ₹12.00 L | 10% | ₹40,000 |
| ₹12.00 L – ₹14.25 L | 15% | ₹33,750 |
In-hand salary breakup
Where your ₹15.00 L goes on the new regime — take-home, tax and your EPF.
EPF is your own 12% retirement contribution — it leaves your salary but stays your money. Only the 6.5% tax slice is truly gone.
Monthly take-home breakdown
Your ₹15.00 L a year, divided by 12, on the cheaper new regime.
Gross monthly income
₹1.25 L
before tax
Monthly tax
−₹8,125
6.5% of income
In-hand each month
₹1.17 L
94% of gross
Effective tax rate as income rises
Your overall tax rate climbs with income — the curve uses the cheaper regime at each level, with your current deductions.
At your ₹15.00 L income, your effective rate is 6.5% — marked on the curve.
Investing up to ₹1.5L in 80C cuts your old-regime taxable income — and your tax.
capped at ₹1.5L.
You invest
₹1.50 L
Tax saved
₹46,800
Old-regime tax drops from ₹2.50 L to ₹2.03 L.
Tax saved at each 80C level
Based on your ₹15.00 L income and other deductions.
If the new regime is already cheaper for you, these 80C savings may not change which regime wins — compare the totals above.
Section 80C
Up to ₹1.5L
PF, ELSS, PPF, life insurance, principal on home loan, kids' tuition.
Section 80D
Up to ₹25K–₹1L
Health-insurance premiums for self, family and parents.
HRA exemption
Rule-based
Part of your rent is exempt if you receive a House Rent Allowance.
Section 24(b)
Up to ₹2L
Interest on a home loan for a self-occupied property.
- The new regime saves you ₹1.05 L vs the other.
- 94% of your income stays in hand — ₹1.17 L/mo.
- Your effective rate is 6.5% — top slab 15%.
What this means
On ₹15.00 L gross income, the cheaper new regime leaves you with a tax bill of ₹97,500 — an effective rate of 6.5%, so 94% of your income stays with you (₹1.17 L a month in hand). Switching to the old regime would cost ₹2.03 L instead — ₹1.05 L more. The 4% cess alone adds ₹3,750 to the new-regime figure.
Key takeaways
- Recommended: new regime
- Total tax payable: ₹97,500 (incl. 4% cess)
- Effective rate: 6.5% · top slab 15%
- In-hand take home: ₹14.03 L (94%)
- Saving by choosing right: ₹1.05 L
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The new regime keeps your tax to ₹97,500 on ₹15.00 L income — ₹1.05 L saved.
Plan the rest of your money life
Turn this tax number into a plan — in-hand salary, capital gains, HRA or TDS.
These figures are an estimate, not tax advice. They apply the FY 2026-27 (AY 2027-28) slabs, the standard deduction (₹50,000 old / ₹75,000 new), the 87A rebate and the 4% health & education cess for a resident individual below 60. They do not apply the surcharge on incomes above ₹50 lakh, marginal relief, or the separate senior-citizen slabs. Tax rules change between budgets — confirm against the latest official rules or a qualified professional before you file.
How your income tax is calculated
Tax = Σ(slab income × slab rate) − 87A rebate, then + 4% cess
- Taxable
- gross income − standard deduction − eligible deductions
- Slab tax
- each bracket of taxable income charged at its own rate
- 87A rebate
- cancels tax entirely below the threshold
- Cess
- 4% health & education cess on the tax that remains
Worked example
With your inputs — ₹15,00,000 gross income and ₹1,75,000 of deductions — the new regime taxes ₹14.25 L of taxable income slab by slab to ₹93,750, less a ₹0 rebate, then adds ₹3,750 cess — a total of about ₹97,500. Only the income inside each bracket is taxed at that bracket's rate, which is why your effective rate (6.5%) sits well below your 15% top slab.
Income tax questions
The old regime has higher slab rates but lets you claim deductions like 80C, 80D, HRA and home-loan interest. The new regime has lower slab rates but disallows almost all of those deductions. Which one costs less depends entirely on how much you can actually deduct.
A flat amount subtracted from salary income before tax, with no proof required. For FY 2026-27 it is ₹50,000 under the old regime and ₹75,000 under the new regime — that larger figure is one reason the new regime is competitive even without other deductions.
Section 87A wipes out your tax entirely if your taxable income stays under a threshold. For FY 2026-27 that threshold is about ₹5 lakh under the old regime and ₹12 lakh under the new regime, which is why many salaried people pay zero tax on the new regime.
If your deductions are small, the new regime almost always wins. If you max out 80C, 80D, HRA and home-loan interest, the old regime can pull ahead. Use the break-even figure above to see exactly how many rupees of deductions you'd need for the old regime to win at your income.
Treat it as a close estimate, not a filed return. It applies the FY 2026-27 slabs, standard deduction, 87A rebate and 4% cess for a resident individual below 60. It does not add the surcharge on incomes above ₹50 lakh, marginal relief, or the separate senior-citizen slabs. Tax rules also change between budgets — confirm with the latest official rules or a professional before filing.
About income tax in India
Two regimes, one income
For FY 2026-27 (AY 2027-28), a resident individual chooses between two tax regimes. The old regime keeps the familiar slab rates but rewards you for investing and spending in eligible ways — 80C for PF and ELSS, 80D for health insurance, HRA on rent, and home-loan interest all reduce your taxable income. The new regime trades those deductions away for lower slab rates, a larger ₹75,000 standard deduction, and an 87A rebate that makes income up to ₹12 lakh effectively tax-free. This calculator runs both on the same income and shows which one costs less.
How the tax is calculated
Each regime first subtracts its standard deduction (₹50,000 old, ₹75,000 new) and, for the old regime, any deductions you claim. The remainder is taxed slab by slab — only the income falling inside each bracket is charged at that bracket's rate, which is why your effective rate (6.5% here) is well below your top slab (15%). The 87A rebate can then wipe the bill to zero under the thresholds, and a 4% health & education cess is added on top of whatever tax remains.
Which regime is cheaper for you
If your deductions are small, the new regime almost always wins thanks to its lower slabs and bigger standard deduction. If you genuinely max out 80C, 80D, HRA and home-loan interest, the old regime can pull ahead. At your income, the old regime overtakes the new only once your total deductions cross about ₹5.44 L. The side-by-side comparison above shows the exact rupee figures for both, with the cheaper one highlighted.
What this estimate leaves out
This is a clear planning estimate, not a filed return. It does not apply the surcharge on incomes above ₹50 lakh, marginal relief, or the separate senior-citizen slabs, and it assumes a resident individual below 60. Real returns may also involve capital gains taxed at special rates, TDS already deducted, and section-specific caps (80C is limited to ₹1.5 lakh, for instance). Treat the figure as a close estimate and confirm the exact numbers against the latest official rules or a qualified professional.
How to use this when planning
Start with your gross annual income, then add the deductions you can realistically claim — only the old regime uses them. Watch the recommendation flip as your deductions grow: there is a break-even point where the old regime overtakes the new. Once you know which regime wins, the monthly tax and in-hand figures tell you how much of each pay cheque is actually yours, which makes budgeting far easier than working from CTC alone.
Standard deduction, rebate and cess
Three mechanics shape every result here. The standard deduction (₹50,000 old, ₹75,000 new) comes off salary income automatically. The 87A rebate then cancels the tax entirely for taxable income below the threshold — roughly ₹5 lakh on the old regime and ₹12 lakh on the new. Finally a 4% health and education cess is added on top of whatever tax survives the rebate. High earners above ₹50 lakh also face a surcharge, which this estimate leaves out — so treat the figure as a baseline and add the surcharge separately if it applies to you.