Income Tax Calculator — AY 2026-27
Estimate your income tax under the Old and New regime side by side for Assessment Year 2026-27 (income earned in FY 2025-26). Free, instant, and entirely in your browser — nothing you type is sent anywhere.
Your estimate Illustrative
A simplified estimate from salary income, the standard deduction and your combined Old-regime deductions. Your actual tax depends on your full income and deductions.
Total salary before any deductions, as in Part B of your Form 16.
Interest, etc. No standard deduction applies to this.
Combined 80C, 80D, HRA, home-loan interest, NPS, etc. Not used by the New regime.
Enter your annual salary to see an estimate.
Includes the Section 87A rebate, surcharge and 4% Health & Education Cess; the New regime applies a ₹75,000 standard deduction and the Old regime ₹50,000. Illustrative only — not tax advice. Verify on the official Income Tax e-Filing portal.
How the calculation works
For salaried individuals, your tax is worked out on your taxable income — gross salary minus the standard deduction, plus any other income (and, under the Old regime, your eligible deductions are then subtracted from that total). The relevant slab rates are then applied, the Section 87A rebate is subtracted if you qualify, and a 4% cess (plus surcharge for higher incomes) is added on top.
New regime slabs (AY 2026-27)
| Total 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% |
With the enhanced Section 87A rebate, a resident with taxable income up to ₹12,00,000 pays no tax under the New regime. Add the ₹75,000 standard deduction, and a salaried person earning up to roughly ₹12.75 lakh can land at zero. See the full slab breakdown and the 87A rebate explained.
Old regime slabs (AY 2026-27)
| Total income | 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% |
Under the Old regime the 87A rebate makes tax nil up to ₹5,00,000 of taxable income, and you can claim deductions such as 80C and 80D and HRA. Senior citizens get a higher basic exemption under the Old regime. Not sure which form applies to you? See ITR-1 vs ITR-4.
What this estimate leaves out
- Senior-citizen basic exemptions, the full HRA computation, and capital-gains special rates.
- Income beyond salary and a single "other income" figure (house property, business, etc.).
- Relief under sections like 89, and any TDS already deducted (which affects the balance payable, not the liability itself).
For the complete picture, MyTaxLocker reads your Form 16 on your device and computes your tax under both regimes from your real figures.
Frequently asked questions
Is ₹12 lakh income tax-free under the New regime for AY 2026-27?
A resident with taxable income up to ₹12,00,000 pays no tax under the New regime for AY 2026-27 because of the enhanced Section 87A rebate. With the ₹75,000 standard deduction, a salaried person earning up to roughly ₹12.75 lakh can reach zero. This is illustrative — your figures depend on your actual income and deductions.
Does this calculator file my income tax return?
No. It only gives an estimate. MyTaxLocker prepares a ready-to-upload ITR-1 or ITR-4 JSON from your Form 16, which you then upload to the official Income Tax e-Filing portal yourself. The app does not file or submit anything on your behalf.
Which tax regime should I choose, Old or New?
It depends on your deductions. The New regime has lower slab rates but few deductions; the Old regime lets you claim 80C, 80D, HRA and home-loan interest. Enter your salary and your Old-regime deductions above to compare both side by side.
Is the income tax calculator free?
Yes. The calculator is free and needs no sign-up. It runs entirely in your browser — nothing you type is sent anywhere.
Get your real numbers from your Form 16
MyTaxLocker reads Part A and Part B of your Form 16 on your device, computes your tax under both regimes, and prepares a ready-to-upload ITR JSON for you to upload to the official portal.
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