Income Tax Calculator
Enter your income to see your tax under the new or the old regime for FY 2025-26 (AY 2026-27). The calculator applies the slabs, the Section 87A rebate, surcharge and cess, and shows the tax in each slab.
Results
Total tax payable
₹97,500
- Taxable income
- ₹14,25,000
- Tax on slabs
- ₹93,750
- Section 87A rebate
- ₹0
- Surcharge
- ₹0
- Health & education cess
- ₹3,750
- Effective tax rate
- 6.5%
- Tax as a share of total income
- Tax per month
- ₹8,125
Under the new regime (FY 2025-26 (AY 2026-27)), taxable income of ₹14,25,000 gives a total tax of ₹97,500, or ₹8,125 a month.
Tax by slab (4 rows)
| Income slab | Rate | Income in slab | Tax |
|---|---|---|---|
| ₹0 – ₹4,00,000 | 0% | ₹4,00,000 | ₹0 |
| ₹4,00,000 – ₹8,00,000 | 5% | ₹4,00,000 | ₹20,000 |
| ₹8,00,000 – ₹12,00,000 | 10% | ₹4,00,000 | ₹40,000 |
| ₹12,00,000 – ₹16,00,000 | 15% | ₹2,25,000 | ₹33,750 |
Show the calculation steps
- Income = salary ₹15,00,000 + other income ₹0 = ₹15,00,000.
- Less Standard deduction: ₹75,000.
- Taxable income = ₹14,25,000.
- ₹0 to ₹4,00,000 at 0%: ₹4,00,000 × 0% = ₹0.
- ₹4,00,000 to ₹8,00,000 at 5%: ₹4,00,000 × 5% = ₹20,000.
- ₹8,00,000 to ₹12,00,000 at 10%: ₹4,00,000 × 10% = ₹40,000.
- ₹12,00,000 to ₹16,00,000 at 15%: ₹2,25,000 × 15% = ₹33,750.
- Tax on slabs = ₹93,750.
- Health and education cess at 4% = ₹3,750.
- Total tax = ₹97,500.
- Uses the FY 2025-26 (AY 2026-27) slabs for resident individuals. Rates and limits change with the Union Budget: check the current year before filing.
- Capital gains and other special-rate income are not included. Section 87A rebate is shown for slab income only.
New regime and old regime
The new regime has lower slab rates and few deductions: mainly the standard deduction and the employer's NPS contribution. The old regime has higher rates but lets you claim deductions such as HRA, Section 80C, 80D and home loan interest.
Which one is cheaper depends on your deductions. Use the old vs new regime calculator to compare them on the same numbers.
What the calculation includes
Tax is worked out slab by slab, then the Section 87A rebate is applied if your taxable income is within its limit, with marginal relief just above it in the new regime. Surcharge applies at high incomes and is limited by marginal relief. Finally, 4% health and education cess is added.
What it leaves out
Capital gains and other special-rate income, tax already paid (TDS and advance tax), and non-resident rules are not included. Use the capital gains calculator for gains.
Formula
Taxable income = income − deductions allowed under the regime
Tax = sum of (income in each slab × slab rate)
Total tax = (tax − rebate + surcharge) × (1 + 4% cess)
Where:
- Slab
- = An income band taxed at one rate
- Rebate (87A)
- = A reduction for taxable income up to a limit
- Surcharge
- = An extra percentage on tax for very high incomes
- Cess
- = Health and education cess of 4%
Example calculation
₹15,00,000 salary, new regime, FY 2025-26 (AY 2026-27)
Inputs
- Tax Regime
- New regime (default)
- Salary Income (Gross)
- ₹15,00,000
- Other Income
- ₹0
- Employer NPS Contribution
- ₹0
Result
- Total tax payable
- ₹97,500
- Taxable income
- ₹14,25,000
- Tax on slabs
- ₹93,750
- Section 87A rebate
- ₹0
- Surcharge
- ₹0
- Health & education cess
- ₹3,750
- Effective tax rate
- 6.5%
- Tax per month
- ₹8,125
Step-by-step
- Income = salary ₹15,00,000 + other income ₹0 = ₹15,00,000.
- Less Standard deduction: ₹75,000.
- Taxable income = ₹14,25,000.
- ₹0 to ₹4,00,000 at 0%: ₹4,00,000 × 0% = ₹0.
- ₹4,00,000 to ₹8,00,000 at 5%: ₹4,00,000 × 5% = ₹20,000.
- ₹8,00,000 to ₹12,00,000 at 10%: ₹4,00,000 × 10% = ₹40,000.
- ₹12,00,000 to ₹16,00,000 at 15%: ₹2,25,000 × 15% = ₹33,750.
- Tax on slabs = ₹93,750.
- Health and education cess at 4% = ₹3,750.
- Total tax = ₹97,500.
₹15,00,000 salary, old regime with deductions, FY 2025-26 (AY 2026-27)
Inputs
- Tax Regime
- Old regime (with deductions)
- Age (Old Regime Slabs)
- Below 60
- Salary Income (Gross)
- ₹15,00,000
- Other Income
- ₹0
- Employer NPS Contribution
- ₹0
- HRA Exemption
- ₹0
- Section 80C Investments
- ₹1,50,000
- Section 80D (Health Insurance)
- ₹25,000
- Home Loan Interest
- ₹0
- Other Deductions
- ₹50,000
Result
- Total tax payable
- ₹1,87,200
- Taxable income
- ₹12,25,000
- Tax on slabs
- ₹1,80,000
- Section 87A rebate
- ₹0
- Surcharge
- ₹0
- Health & education cess
- ₹7,200
- Effective tax rate
- 12.48%
- Tax per month
- ₹15,600
Step-by-step
- Income = salary ₹15,00,000 + other income ₹0 = ₹15,00,000.
- Less Standard deduction: ₹50,000.
- Less Section 80C: ₹1,50,000.
- Less Section 80D (health insurance): ₹25,000.
- Less Other deductions (for example 80CCD(1B), 80E, 80G): ₹50,000.
- Taxable income = ₹12,25,000.
- ₹0 to ₹2,50,000 at 0%: ₹2,50,000 × 0% = ₹0.
- ₹2,50,000 to ₹5,00,000 at 5%: ₹2,50,000 × 5% = ₹12,500.
- ₹5,00,000 to ₹10,00,000 at 20%: ₹5,00,000 × 20% = ₹1,00,000.
- ₹10,00,000 to above at 30%: ₹2,25,000 × 30% = ₹67,500.
- Tax on slabs = ₹1,80,000.
- Health and education cess at 4% = ₹7,200.
- Total tax = ₹1,87,200.
Important notes
- Rates and limits shown are for FY 2025-26 (AY 2026-27) and apply to resident individuals. They change with each Union Budget: check the current year before you file.
- This is an estimate, not tax advice. Consult a chartered accountant for filing.
Disclaimer: This calculator provides estimates for informational purposes and should not be considered financial advice. Actual figures from lenders, banks and investment products can differ because of fees, taxes, rounding rules and changing rates. Consult a qualified professional before making financial decisions.
Frequently asked questions
Which tax regime is better for me?
It depends on how many deductions you can claim. If your old-regime deductions are large (home loan interest, 80C, HRA), the old regime may be cheaper. Compare both with the old vs new regime calculator.
Is income up to ₹12 lakh tax-free?
Under the new regime for FY 2025-26 (AY 2026-27), the Section 87A rebate makes tax zero for taxable income up to ₹12 lakh (₹12.75 lakh of salary with the standard deduction). Confirm the rule for the year you need.
What is marginal relief?
A safeguard so that your tax does not jump by more than your extra income when you cross a threshold, such as the rebate limit or a surcharge threshold.
Does this include TDS already deducted?
No. It shows the total tax for the year. Subtract TDS and advance tax already paid to find what remains.
Related calculators
- Old vs New Tax Regime CalculatorCompare your tax under the old and new regimes for FY 2025-26 (AY 2026-27) and see which is cheaper and by how much.
- HRA CalculatorCalculate your HRA tax exemption as the lowest of HRA received, rent minus 10% of salary, and 50% or 40% of salary.
- GST CalculatorAdd GST to a price or remove it, and see the GST amount with the CGST, SGST and IGST split.
- Take-Home Salary CalculatorConvert your CTC into monthly in-hand salary after PF, professional tax and income tax.
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