Updated for Financial Year 2026-27 (Assessment Year 2027-28)
Includes latest ₹75,000 Standard Deduction for New Regime and ₹7 Lakh rebate under Section 87A.
Income & Deductions
₹
Total CTC / Gross Income before any deductions.
Old Regime Deductions (Optional)
₹
₹
₹
₹
₹
Tax Saving Recommendation
New Tax Regime Saves You ₹15,600!
You will pay lower income tax under the New Tax Regime.
Default Regime
New Regime
Gross Income:
₹12,00,000
Std. Deduction:
₹75,000
Net Taxable Income:
₹11,25,000
Base Income Tax:
₹68,750
Rebate (u/s 87A):
₹0
Health & Edu Cess (4%):
₹2,750
Total Tax Payable:
₹71,500
Monthly Take-Home:
₹94,042
Old Regime
Old Regime
Gross Income:
₹12,00,000
Total Deductions:
₹3,25,000
Net Taxable Income:
₹8,75,000
Base Income Tax:
₹87,500
Rebate (u/s 87A):
₹0
Health & Edu Cess (4%):
₹3,500
Total Tax Payable:
₹91,000
Monthly Take-Home:
₹92,417
Share Calculation:
Tax Payable Comparison
Income Tax Slabs for FY 2026-27 (AY 2027-28)
New Tax Regime Slabs (Default)
| Income Slab (₹) | Tax Rate |
|---|---|
| ₹0 to ₹3,00,000 | NIL |
| ₹3,00,001 to ₹7,00,000 | 5% (Full Rebate u/s 87A up to ₹7L) |
| ₹7,00,001 to ₹10,00,000 | 10% |
| ₹10,00,001 to ₹12,00,000 | 15% |
| ₹12,00,001 to ₹15,00,000 | 20% |
| Above ₹15,00,000 | 30% |
Old Tax Regime Slabs
| Income Slab (₹) | Tax Rate |
|---|---|
| ₹0 to ₹2,50,000 | NIL |
| ₹2,50,001 to ₹5,00,000 | 5% (Full Rebate u/s 87A up to ₹5L) |
| ₹5,00,001 to ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Frequently Asked Questions
What is the standard deduction in New Tax Regime for FY 2026-27?
The Standard Deduction under the New Tax Regime is ₹75,000 for salaried individuals and pensioners. For the Old Tax Regime, it remains ₹50,000.
Up to what income is tax zero under New Tax Regime?
Taxable income up to ₹7,00,000 pays zero tax due to Section 87A rebate. With the ₹75,000 standard deduction, a salaried employee earning up to ₹7,75,000 pays ₹0 tax under the New Regime.
Which tax regime is better for me?
If your total eligible deductions (80C, 80D, HRA, Home loan interest) are less than ₹3.75 Lakh, the New Tax Regime will save you more money with zero paperwork. If your total deductions exceed ₹4 Lakh, the Old Tax Regime may be more beneficial. Use this live comparator to calculate your exact breakeven point!
Is Section 80C available in the New Tax Regime?
No, deductions under Section 80C (PPF, ELSS, EPF, LIC) are not allowed under the New Tax Regime. The New Regime offers lower baseline tax slabs and a higher standard deduction instead.