Income tax calculator, FY 2026-27

The standard deduction for FY 2026-27 is ₹75,000 for salaried individuals under the new tax regime. This amount is automatically deducted from your gross salary before calculating taxable income.

No, the new tax regime is optional. You can choose between the old and new regime each year while filing your tax returns. However, the new regime is the default option from FY 2023-24 onwards.

From 1 April 2026 the Income-tax Act, 2025 replaces the 1961 Act, and the old Section 87A rebate is now Section 156. The amounts are the same: individuals with taxable income up to ₹12 lakh (after standard deduction) get a full tax rebate in the new regime. This means zero tax liability for income up to ₹12.75 lakh (₹12 lakh + ₹75,000 standard deduction).

Nothing in the tax you pay. Budget 2026 kept the FY 2025-26 new regime slabs, the ₹75,000 standard deduction, the ₹12 lakh rebate and the old regime rules as they were. What changed is the law behind them: FY 2026-27 is the first tax year under the Income-tax Act, 2025, so many section numbers are new, but deductions are still widely known by their old names (80C, 80D).

Yes. The slabs, standard deduction, rebate, surcharge and cess are the same for FY 2025-26 and FY 2026-27, so the tax figures here hold for both years.

The new tax regime offers lower tax rates but doesn't allow most deductions like 80C (investments), 80D (insurance), HRA, etc. Only the standard deduction of ₹75,000 is available. Compare both regimes to see which is more beneficial for you.

If your taxable income is a little over ₹12 lakh, your tax in the new regime cannot be more than the amount above ₹12 lakh. At ₹12.1 lakh taxable, tax is capped at ₹10,000 plus cess.

Employer PF up to 12% of basic is not part of your taxable salary, which is why the calculator asks for CTC minus employer PF.

It uses the slabs and rates notified by the Income Tax Department for FY 2026-27, the Section 156 (old 87A) rebate with marginal relief, surcharge above ₹50 lakh and the 4% cess, for salaried residents under both regimes. For capital gains, business income or arrears, check with a tax professional.

You file after the year ends. For most salaried people (no audit), the return for income earned in FY 2026-27 (1 April 2026 to 31 March 2027) is due by 31 July 2027. Check the income tax portal for any extension announced that year.