Income Tax Calculator
Our free income tax calculator estimates your tax liability for FY 2026-27 (AY 2027-28). Enter your annual gross income, choose between the new and old tax regimes, and optionally add your old-regime deductions (80C, 80D, HRA, home loan interest) to instantly see your taxable income, income tax, §87A rebate, surcharge (from ₹50 lakh), marginal relief, 4% cess and the final tax payable. The calculator uses the slabs announced in Budget 2025 and unchanged by Budget 2026, with surcharge capped at 25% under the new regime. No sign-up, no uploads — everything runs on your device.
How to use Income Tax Calculator
- 1
Enter your annual income
Type your total gross income for the financial year.
- 2
Pick a tax regime
Compare the new and old regimes to see which suits your deductions.
- 3
Add deductions (old regime only)
Enter your 80C/80D/HRA/home loan deductions to lower taxable income.
- 4
Read your tax estimate
See taxable income, tax, rebate, cess and the final amount payable.
New vs old tax regime
The new tax regime (the default) offers lower rates and a ₹60,000 §87A rebate that makes income up to ₹12 lakh tax-free, but allows almost no deductions. The old regime has higher rates but lets you claim deductions for investments, insurance, HRA and home loan interest, with a ₹12,500 rebate that makes income up to ₹5 lakh tax-free. Which is cheaper depends on how many deductions you claim.
Surcharge & marginal relief
On incomes above ₹50 lakh a surcharge applies on top of the slab tax relative to total income — 10% to ₹1 crore, 15% to ₹2 crore, 25% to ₹5 crore and up to 37% above that (capped at 25% in the new regime). Marginal relief ensures that where income only slightly crosses a threshold, the surcharge never creates a sudden jump beyond the extra income. The calculator applies and displays both.
Why use our tax calculator?
It computes the full tax pipeline in one place — standard deduction, slab-by-slab tax, rebate, surcharge, marginal relief, cess and effective rate — for either regime, so you can compare both and plan your deductions before filing.
Examples
New regime, zero tax
- Input
- ₹12,00,000 salary, new regime
- Output
- Tax ₹0 (rebate of ₹60,000)
Above the rebate limit
- Input
- ₹15,00,000 salary, new regime
- Output
- Taxable ₹14,25,000 · Tax + cess ≈ ₹97,500
Old regime with deductions
- Input
- ₹15,00,000 salary, old regime, ₹2,00,000 deductions
- Output
- Taxable ₹12,50,000 · Tax + cess ≈ ₹1,95,000
Frequently asked questions
What are the income tax slabs for FY 2026-27?
New regime: 0% up to ₹4L, 5% to ₹8L, 10% to ₹12L, 15% to ₹16L, 20% to ₹20L, 25% to ₹24L and 30% above ₹24L. Old regime: 0% up to ₹2.5L, 5% to ₹5L, 20% to ₹10L and 30% above ₹10L. Budget 2026 kept these unchanged.
Is income up to ₹12 lakh tax-free?
Under the new regime, yes for a salaried individual: the ₹75,000 standard deduction plus the ₹60,000 §87A rebate means gross salary up to ₹12.75 lakh can be entirely tax-free. The rebate is not available on special-rate incomes like capital gains.
Does the calculator include surcharge?
Yes. Surcharge applies from income above ₹50 lakh: 10% up to ₹1 crore, 15% up to ₹2 crore, 25% up to ₹5 crore and 37% above ₹5 crore in the old regime — capped at 25% in the new regime. Marginal relief is applied automatically so the surcharge never causes a jump larger than the extra income, and the 4% health and education cess is added on the combined tax and surcharge.
What is marginal relief on surcharge?
When your income is just above a surcharge threshold (₹50 lakh, ₹1 crore, ₹2 crore or ₹5 crore), marginal relief caps the income tax plus surcharge so it cannot exceed the tax at the threshold plus the amount by which your income exceeds it. This stops tax from jumping sharply for a small increase in income.
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Last updated 6 August 2026