Income Tax Calculator
The new-regime slabs are unchanged for FY 2026-27. Enter your annual income and read the full ledger: slabs, rebate, marginal relief, surcharge and cess.
Your income
20 lakh rupees
Applies the ₹75,000 standard deduction available to salaried taxpayers and pensioners under the new regime.
| Taxable income | Rate |
|---|---|
| Up to ₹4,00,000 | Nil |
| ₹4,00,001 – ₹8,00,000 | 5% |
| ₹8,00,001 – ₹12,00,000 | 10% |
| ₹12,00,001 – ₹16,00,000 | 15% |
| ₹16,00,001 – ₹20,00,000 | 20% |
| ₹20,00,001 – ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
Your tax
The computation ledger
Slab by slab| Line | Amount | Rate | Tax |
|---|
How this calculator works
This calculator applies the new (default) tax regime for FY 2025-26 and FY 2026-27 — Budget 2026 left the slabs unchanged. From your gross income it deducts the ₹75,000 standard deduction (if salaried), applies the slab rates, then the §87A rebate of up to ₹60,000 — which makes taxable income up to ₹12 lakh tax-free (₹12.75 lakh of gross salary) — with marginal relief just above that line, then surcharge (10% above ₹50 lakh, 15% above ₹1 crore, 25% above ₹2 crore, each with marginal relief) and finally the 4% health & education cess.
Tax questions
Is income up to ₹12.75 lakh really tax-free?
For salaried taxpayers under the new regime, yes — the ₹75,000 standard deduction brings ₹12.75 lakh of gross salary down to ₹12 lakh of taxable income, and the §87A rebate (up to ₹60,000) wipes out the slab tax on it. Earn slightly more and marginal relief ensures the extra tax never exceeds the extra income.
Did Budget 2026 change the slabs for FY 2026-27?
No. The slabs introduced in Budget 2025 (nil to ₹4 lakh, then 5% steps up to 30% above ₹24 lakh) continue unchanged for FY 2026-27, along with the ₹60,000 rebate and ₹75,000 standard deduction.
What surcharge applies to income above ₹50 lakh?
Under the new regime: 10% of the tax for taxable income above ₹50 lakh, 15% above ₹1 crore, and 25% above ₹2 crore (the new regime caps surcharge at 25%). Marginal relief ensures a small income rise never causes a larger tax rise.