# Income Tax Calculator FY 2026-27 (AY 2027-28): Old vs New > Free income tax calculator for FY 2026-27: enter salary and deductions to see tax in both regimes, slab by slab, with rebate, surcharge and cess. Source: https://trykosh.com/tools/income-tax-calculator Free tool - Income tax # Income tax calculator for FY 2026-27 Work out your income tax for FY 2026-27 under both regimes in one go. Kosh applies the current slabs, the INR 75,000 standard deduction, the 87A rebate, surcharge with marginal relief and 4% cess. Rules checked 25 October 2026Free - no sign-upRuns in your browser New regime saves you INR 49,140 Tax: INR 97,500 a year, INR 8,125 a month New regime**INR 97,500** Old regime**INR 1,46,640** Effective rate**6.5%** Gross income INR 15,00,000 − Standard deduction INR 75,000 Taxable income INR 14,25,000 Tax on slabs INR 93,750 \+ Health & education cess (4%) INR 3,750 Total tax INR 97,500 Side by side New regime Old regime Gross income INR 15,00,000 INR 15,00,000 Deductions INR 75,000 INR 4,05,000 Taxable income INR 14,25,000 INR 10,95,000 Tax on slabs INR 93,750 INR 1,41,000 Rebate (87A) INR 0 INR 0 Surcharge INR 0 INR 0 Cess (4%) INR 3,750 INR 5,640 Total tax INR 97,500 INR 1,46,640 Marginal rate 15% 30% The new regime is the default: you don't need to do anything to get it. ## Upload your statement and Kosh does this for you. Upload a bank statement or salary slip and Kosh works out your tax under both regimes from your real numbers, finds the deductions you're missing and reminds you before every deadline. [Start free](/signup?via=tool-income-tax-calculator) ## How the income tax calculator works Enter your gross salary for the year and any other income such as interest or rent. The calculator first takes off the standard deduction (INR 75,000 in the new regime, INR 50,000 in the old) and any employer NPS contribution, which both regimes allow. For the old regime it then subtracts the deductions you fill in: HRA exemption worked out from your basic, rent and city; 80C up to INR 1.5 lakh; 80CCD(1B) NPS up to INR 50,000; 80D health insurance; home-loan interest up to INR 2 lakh; and 80TTA savings interest up to INR 10,000. Each regime's taxable income is run through its own slab table. The 87A rebate wipes out tax on taxable income up to INR 12 lakh in the new regime (INR 5 lakh in the old), with marginal relief just above the line. Surcharge applies above INR 50 lakh, and 4% health and education cess is added on top. The result shows which regime leaves you more money and by how much, with a full side-by-side breakdown you can check line by line. Tax = (slab tax on taxable income − 87A rebate + surcharge) x 1.04 Taxable income gross income − standard deduction − eligible deductions 1.04 adds the 4% health and education cess ## Worked example: Priya, INR 18 lakh salary in Pune Priya earns INR 18 lakh, of which INR 9 lakh is basic. She pays INR 25,000 a month in rent, puts INR 1.5 lakh into EPF and PPF, and buys a INR 25,000 family health policy. Her HRA exemption is the lowest of HRA received (INR 3.6 lakh), rent minus 10% of basic (INR 2.1 lakh) and 50% of basic (INR 4.5 lakh, since Pune became a 50% city from FY 2026-27), so INR 2.1 lakh. With INR 4.35 lakh of deductions her old-regime tax is INR 2,30,880; the new regime, with only the INR 75,000 standard deduction, charges INR 1,50,800. The new regime saves her INR 80,080. New regime saves you INR 80,080 Tax: INR 1,50,800 a year, INR 12,567 a month New regime**INR 1,50,800** Old regime**INR 2,30,880** Effective rate**8.4%** Gross income INR 18,00,000 − Standard deduction INR 75,000 Taxable income INR 17,25,000 Tax on slabs INR 1,45,000 \+ Health & education cess (4%) INR 5,800 Total tax INR 1,50,800 The new regime is the default: you don't need to do anything to get it. [Load this example into the calculator ->](?salary=1800000&basic=900000&hra=360000&rent=300000&metro=1#calculator) ## Good to know - The new regime is the default from FY 2023-24 onwards. Salaried people can switch every year when filing; people with business income can switch back only once. - Taxable income up to INR 12 lakh pays no tax in the new regime. With the standard deduction, that means a salary of up to INR 12.75 lakh. - The 87A rebate doesn't cover tax on special-rate income such as short-term equity gains under section 111A. - Budget 2026 left both slab tables unchanged. What changed is the law: the Income-tax Act, 2025 replaced the 1961 Act from 1 April 2026, and 'previous year' and 'assessment year' became one 'tax year'. ## Frequently asked questions Which is better for me, the old or new regime? It depends on how much you can deduct. At most salaries the new regime wins unless your old-regime deductions (HRA, 80C, 80D, home-loan interest and NPS together) are large. Fill in your numbers above and the calculator tells you which is lower and by how much. Is income up to INR 12 lakh really tax-free? Yes, in the new regime. Tax on taxable income up to INR 12 lakh is fully covered by the 87A rebate of up to INR 60,000. Salaried people also get the INR 75,000 standard deduction, so a salary of INR 12.75 lakh pays no tax. What is the standard deduction for FY 2026-27? INR 75,000 in the new regime and INR 50,000 in the old regime, for salaried employees and pensioners. It's applied automatically; you don't need to show any proof. Does this calculator include cess and surcharge? Yes. It adds 4% health and education cess to every tax bill, and surcharge at 10%, 15%, 25% (and 37% in the old regime) above INR 50 lakh, INR 1 crore, INR 2 crore and INR 5 crore, with marginal relief at each threshold. Is FY 2026-27 the same as AY 2027-28? Yes. Income earned between 1 April 2026 and 31 March 2027 is taxed in FY 2026-27, which the old law called assessment year 2027-28. Under the Income-tax Act, 2025 it's simply 'tax year 2026-27'. ## Sources and assumptions - [Income Tax Department](https://www.incometax.gov.in/) - [Union Budget 2026-27](https://www.indiabudget.gov.in/) Rules and rates last checked on 25 October 2026. Results are estimates for planning and education, not tax, legal or investment advice. Kosh is an educational financial planning tool by Primedepth Labs. It is not a SEBI-registered investment adviser and does not offer personalised investment advice, hold your money or execute trades. Markets carry risk; read scheme documents carefully and consult a registered adviser before acting.