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Income Tax Calculator FY 2026-27 (Old vs New Regime)

The new regime is the default now — but it isn't automatically cheaper. Run your real numbers through both regimes before assuming.

Income tax — FY 2026-27
Gross annual income₹12,00,000
I'm a salaried employee
Standard deduction: ₹75,000 (new regime) or ₹50,000 (old regime).
80C & other old-regime deductions₹1,50,000
PPF, ELSS, home loan interest, 80D — these only count under the old regime.
You save
₹0
by picking the cheaper regime.
New regime₹0
Old regime₹0
Taxable (new)₹0
Taxable (old)₹0
Tax payable₹0/yr
Income up to ₹12,00,000 is effectively tax-free under the new regime via the Section 87A rebate.

How this works

India's new tax regime offers lower slab rates but almost no exemptions. The old regime keeps HRA, 80C, 80D, and home loan interest deductions, but at higher rates. Which one wins depends entirely on your specific numbers — there's no universal answer, which is exactly why guessing costs people real money every year.

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