Income Tax Calculator FY 2026-27

Nil up to ₹4,00,000; 5% to ₹8,00,000; 10% to ₹12,00,000; 15% to ₹16,00,000; 20% to ₹20,00,000; 25% to ₹24,00,000; and 30% above that. These are unchanged from FY 2025-26 — the 2026 Budget did not move them.

A widely-ranked article publishes a different FY 2026-27 table with bands at ₹12–20 lakh, ₹20–30 lakh and ₹30–50 lakh. It contradicts the statute and is wrong.

Under section 156, a resident with taxable income up to ₹12,00,000 in the new regime gets a rebate of up to ₹60,000 — which removes the liability entirely. With the ₹75,000 standard deduction, that puts the salaried break-even at ₹12,75,000 of gross salary.

Marginal relief applies just above the threshold, so earning one rupee more than ₹12,00,000 does not suddenly cost ₹60,000 in tax.

Two official Income Tax Department pages — the Tax Rates page and the Computation of Tax for Individual page — still pair the ₹60,000 rebate with the obsolete ₹7 lakh threshold. The statute, the official section 87A FAQ, the Budget brief and PIB all say ₹12 lakh. This calculator uses ₹12 lakh.

Surcharge starts above ₹50 lakh of total income: 10% to ₹1 crore, 15% to ₹2 crore, 25% to ₹5 crore, and above ₹5 crore the regimes diverge — 25% in the new regime against 37% in the old. That makes the peak effective rate 39% new and 42.744% old.

Health and education cess is 4% on tax plus surcharge, in both regimes, and it is computed after the rebate rather than before it.

Of the things that matter to a salaried person, exactly two: the standard deduction, enhanced to ₹75,000, and the employer's NPS contribution, allowed at 14% of basic rather than the old regime's 10%.

HRA, LTA, section 123 investments, health insurance, own NPS and home-loan interest on a self-occupied property are all gone. Gratuity, pension commutation, leave encashment and the employer's provident fund contribution keep their existing treatment in both.