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SKAG and Associates
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Income Tax Calculator

Compute tax under New and Old regime — FY 2025-26 (AY 2026-27) and Tax Year 2026-27.

The Income Tax Calculator computes income-tax liability for FY 2025-26 (AY 2026-27) and Tax Year 2026-27, whose slab rates are the same, under both the New Regime, which is the default, and the Old Regime. It factors in the standard deduction, the Section 87A rebate, surcharge and cess. It is meant for salaried individuals, professionals and other taxpayers estimating their tax.

Use the Income Tax Calculator

Deductions (Old Regime only)

These reduce taxable income under the Old Regime; ignored under New Regime.

New Regime (Default)

Less: Standard deduction₹ 0
Taxable Income₹ 0
Tax on slabs₹ 0
Less: 87A Rebate₹ 0
Surcharge ₹ 0
Less: Marginal relief on surcharge₹ 0
Health & Edu Cess (4%)₹ 0
Total Tax (New)₹ 0

Old Regime

Less: Standard deduction₹ 0
Taxable Income₹ 0
Tax on slabs₹ 0
Less: 87A Rebate₹ 0
Surcharge ₹ 0
Less: Marginal relief on surcharge₹ 0
Health & Edu Cess (4%)₹ 0
Total Tax (Old)₹ 0
Enter your income to see comparison.
Rates for FY 2025-26 and Tax Year 2026-27 (unchanged by Budget 2026). Assumes a resident individual. Surcharge: 10% above ₹50 lakh, 15% above ₹1 crore, 25% above ₹2 crore, and 37% above ₹5 crore in the old regime only (the new regime stops at 25%), with marginal relief at each threshold. Excludes special-rate income (capital gains, lottery), on which surcharge is capped differently, and foreign income provisions. Tax is not rounded to the nearest ₹10 here.

Generated on 16 October 2026 at skagandassociates.com — for information only, not professional advice

Income Tax Act 2025 transition: This tool covers both FY 2025-26 (AY 2026-27), under the Income Tax Act, 1961 (old section numbers such as 80C, 87A, 192), and Tax Year 2026-27, under the Income Tax Act, 2025 and Income Tax Rules, 2026 in force from 1 April 2026. Key changes: 80C→123, 87A→156, 192→392; Form 16→130; TDS uses payment codes 1001-1067. View full mapping →

Compute income-tax liability for FY 2025-26 (AY 2026-27, Income-tax Act, 1961) or Tax Year 2026-27 (Income-tax Act, 2025). Budget 2026 did not change the slabs, rebate or standard deduction, so the same figures apply to both years. The tool supports both the New Regime (default) and Old Regime, including the standard deduction (the lower of salary and ₹75,000 in the new regime or ₹50,000 in the old regime), the Section 87A rebate of up to ₹60,000 with marginal relief (Section 156 of the 2025 Act), surcharge with marginal relief, and 4% cess. Old-regime slabs follow the age category you choose.

Important note: This tool provides an indicative output only. It does not factor in every special provision, surcharge, exception, or recent notification. Verify with the firm before acting on any computation.

Frequently Asked Questions

Which income tax law applies for the return being filed in 2026?
Returns filed during 2026 for AY 2026-27 relate to income of FY 2025-26 and are governed by the Income-tax Act 1961. The new Income-tax Act 2025 came into force on 1 April 2026 and applies from Tax Year 2026-27 onwards — that is, to income earned from 1 April 2026, for which returns will be filed in 2027.
What are the new regime slab rates for FY 2025-26 (AY 2026-27)?
Under the new regime for FY 2025-26, income up to ₹4 lakh is nil, then 5% up to ₹8 lakh, 10% up to ₹12 lakh, 15% up to ₹16 lakh, 20% up to ₹20 lakh, 25% up to ₹24 lakh, and 30% above ₹24 lakh. Budget 2026 left these slabs unchanged for Tax Year 2026-27. Health and education cess of 4% applies on the tax, and surcharge applies at higher income levels.
Up to what income is tax zero under the new regime?
For FY 2025-26, the Section 87A rebate makes tax nil for resident individuals with total income up to ₹12 lakh under the new regime — effectively ₹12.75 lakh for salaried taxpayers after the ₹75,000 standard deduction. Just above ₹12 lakh, marginal relief limits the tax to the income in excess of ₹12 lakh. The same limits continue for Tax Year 2026-27 under Section 156 of the Income-tax Act, 2025. Income taxed at special rates, such as certain capital gains, is generally not covered by the rebate.
What is the standard deduction on salary?
Salaried individuals and pensioners get a standard deduction of ₹75,000 under the new tax regime and ₹50,000 under the old regime, for both FY 2025-26 and Tax Year 2026-27. It is allowed automatically against salary or pension income without any proof of expenditure. Family pension attracts a separate, smaller deduction under its own provision.

Due in the next 30 days

Income tax
  1. ITR Filing (taxpayers under audit, companies)In 15 days · Income tax
  2. TCS statement for Jul–Sep 2026 quarter (Form 143)In 15 days · Income tax
  3. TDS statements for Jul–Sep 2026 quarter (Forms 138 / 140 / 144)In 15 days · Income tax
  4. TDS / TCS deposit (e-Pay Tax, Challan ITNS 281) for OctoberIn 22 days · Income tax

Full compliance calendar → Statutory dates, which can be extended by notification. General information only.

Published by SKAG and Associates, Chartered Accountants, New Delhi · Proprietor CA Gaurav Singh (ICAI M.No. 539050). General information only, not professional advice.

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