What is the difference between new and old tax regime?

The new regime (FY 2025-26) offers lower slab rates with a standard deduction of ₹75,000 but no other deductions. The old regime has higher rates but allows deductions under 80C, 80D, HRA, home loan interest, NPS, etc.

Income Tax Calculator India FY 2026-27, New vs Old Regime

Q: What is Section 87A rebate?

Section 87A provides a tax rebate of up to ₹25,000 in the new regime for individuals with taxable income up to ₹7,00,000, making tax effectively zero up to ₹7.75 lakh after standard deduction.

Your Income Details

Enter your annual income and age

Annual Gross Income (₹)

₹

Age Group

🔖

Old Regime Deductions ₹2,00,000 total

Expand to enter 80C, 80D, HRA, home loan & NPS

▼

💡 These deductions apply only to the Old Regime. The New Regime uses a flat ₹75,000 standard deduction automatically.

80C, PF, ELSS, LIC, PPF (Max ₹1,50,000)

₹

80D, Health Insurance Premium (Max ₹1,00,000)

₹

HRA Exemption, Section 10(13A)

₹

Home Loan Interest, Section 24B (Max ₹2,00,000)

₹

NPS - 80CCD(1B) extra (Max ₹50,000)

₹

TOTAL DEDUCTIONS (Old)

₹0

incl. ₹50,000 standard

Tax Comparison

FY 2026-27 · Both regimes calculated automatically

🔵 New Regime

₹0

Effective rate: 0.00%

Monthly TDS: ₹0 / month

✅ Best option for you

Breakdown

🟠 Old Regime

₹0

Effective rate: 0.00%

Monthly TDS: ₹0 / month

, Not optimal for your income

Breakdown

Slab-by-Slab Breakdown

See exactly how each rupee is taxed

Raw Slab Tax ₹0

+ 4% Health & Education Cess ₹0

= Final Tax Payable (matches Zone 2) ₹0

Reference Guide

Deductions, surcharge, and important dates

Section 80C

EPF / PPF contribution
ELSS mutual funds
LIC premium
NSC, Sukanya Samriddhi (SSY)
Home loan principal
Children's tuition fees

Max ₹1,50,000 / year

Section 80D, Health Insurance

Self & family: ₹25,000
Parents (≤ 60 yrs): ₹25,000
Parents (> 60 yrs): ₹50,000
Preventive health check: ₹5,000

Max ₹1,00,000 total

Section 24B, Home Loan Interest

Self-occupied property: Max ₹2,00,000
Let-out property: No upper limit
Under-construction: Capped rules apply

Max ₹2,00,000 (self-occupied)

NPS, Section 80CCD(1B)

Additional NPS deduction over & above 80C limit
Applies to Tier-1 NPS account only
Total with 80C possible: ₹2,00,000

Extra ₹50,000 beyond 80C

HRA, Section 10(13A)

Exempt = Least of:
• Actual HRA received
• Rent paid − 10% of basic salary
• 50% basic (metro) / 40% (non-metro)

Only if you pay rent

Standard Deduction

Automatic for all salaried employees
No proof or documentation needed
New Regime: ₹75,000
Old Regime: ₹50,000

Automatic, no action needed

Income Range	Surcharge Rate	Applies On
Up to ₹50 lakh	NIL	No surcharge payable
₹50L - ₹1 crore	10%	10% of income tax
₹1 crore - ₹2 crore	15%	15% of income tax
₹2 crore - ₹5 crore	25%	25% of income tax (both regimes)
Above ₹5 crore	25% (new) / 37% (old)	New regime caps surcharge at 25%; old regime goes up to 37%

⚠️ Marginal Relief: If surcharge pushes total tax above the income in the higher bracket, marginal relief applies to cap the excess.

Due Date	Tax to be Paid	Cumulative %
15 June 2026	15% of annual tax	15%
15 September 2026	30% of annual tax	45%
15 December 2026	30% of annual tax	75%
15 March 2027	25% of annual tax	100%

💡 If total tax liability is below ₹10,000 in a financial year, advance tax is not required.

📅 ITR Filing Deadlines

Category	Due Date (AY 2027-28)
Salaried individuals	31 July 2027
Business / Profession (no audit)	31 July 2027
Business requiring audit	31 October 2027
Belated / revised return	31 December 2027

Which regime is better for me?▾

It depends on how much you can claim in deductions (80C + 80D + HRA + home loan interest etc.), the more you claim, the more likely the old regime wins, but the break-even point shifts with your income level since both regimes are progressive. Rather than relying on a rule of thumb, enter your numbers above, this calculator compares both regimes automatically and shows you the winner.

What is Section 87A rebate?▾

Section 87A gives a full tax rebate in the new regime for individuals with taxable income up to ₹12,00,000, bringing the slab tax to ₹0. Combined with the ₹75,000 standard deduction, this means zero tax for gross salary up to ₹12.75 lakh under the new regime.

What is the last date to file ITR for FY 2026-27?▾

For salaried individuals (AY 2027-28), the last date to file ITR is typically 31 July 2027. For businesses requiring an audit, it is 31 October 2027. Late filing attracts a penalty of ₹1,000 - ₹5,000.

Can I switch between regimes every year?▾

Salaried individuals can switch between new and old regime every year when filing their ITR. Business owners and professionals can switch only once, from old to new, and cannot switch back.

Is 80C deduction available in the new regime?▾

No. Under the new regime, most deductions including 80C, 80D, HRA, and home loan interest are not allowed. The only deductions permitted are the ₹75,000 standard deduction and employer NPS contribution under 80CCD(2).

About this Calculator ▼

This calculator computes income tax for FY 2026-27 under both new and old regimes simultaneously. The new regime offers lower slab rates with only ₹75,000 standard deduction. The old regime allows all deductions (80C, 80D, HRA, home loan etc.) but has higher slab rates. We compare both and clearly show which saves you more, along with a full waterfall breakdown of how the tax was computed.

New Regime Tax Slabs (FY 2026-27)

Up to ₹4,00,000 = NIL

₹4L - ₹8L = 5% (87A rebate → ₹0 up to ₹12.75L)

₹8L - ₹12L = 10%

₹12L - ₹16L = 15%

₹16L - ₹20L = 20%

₹20L - ₹24L = 25%

Above ₹24L = 30%

+ 4% Health & Education Cess on final tax

📊 Quick Summary

Gross Income ₹10,00,000

New Regime Tax ₹0

Old Regime Tax ₹0

You Save ₹0

Best Regime ,

Quick Links

→ HRA Exemption Calculator → CTC to In-Hand Salary → EPF / PF Calculator → TDS Calculator → Income Tax Portal