Income Tax Calculator FY 2026-27 — New vs Old Regime | Finosutra

India's income tax is charged under either the New Regime (lower slab rates, fewer deductions) or the Old Regime (higher rates, deductions like 80C and HRA allowed) for FY 2026-27 (AY 2027-28) — taxpayers can choose annually. This calculator computes and compares both.

Personal Information
Taxpayer details for FY 2026-27 / AY 2027-28
Basic Details REQUIRED
AAAAA9999A format
Tax Regime SELECT
ℹ️ Select your preferred regime or use Compute & Compare to see both and get a recommendation.
Old Regime
Exemptions & Deductions
New Regime
Lower slab rates
✓ New Regime: Standard deduction ₹75,000 | Rebate u/s 87A up to ₹12,00,000 income
Salary Income
Head 1 of 5 — Employment & Pension income
CTC / Salary Components SECTION 17
HRA Exemption Calculator SECTION 10(13A)
ℹ️ Only applicable under Old Regime. HRA exemption is auto-computed (least of three conditions).
Pension Income OPTIONAL
1/3rd or ₹15,000 exempt (whichever lower)
Deductible u/s 80CCD(2) — both regimes
House Property Income
Section 22–27 — Self-occupied & Let-out properties
🏠 Self-Occupied Property
₹0 ▾
Deduction limit: ₹2,00,000 (Old Regime only)
🏢 Let-Out Property
₹0 ▾
No upper limit for let-out property
Capital Gains
Taxed separately at special rates — not included in slab computation
⚡ Capital gains are taxed independently. LTCG on equity above ₹1,25,000 is taxed @12.5%. STCG on equity @20%. Debt/other assets follow slab or indexed rates.
📈 Equity / Equity Mutual Funds
▾
First ₹1,25,000 exempt
Taxed @20% (w.e.f. 23 Jul 2024)
🏗️ Property / Land
▾
Taxed @12.5% (no indexation w.e.f. 23 Jul 2024)
Added to total income — slab rate
💰 Debt / Gold / Other Assets
▾
Taxed at slab rate (post Apr 2023)
Taxed @12.5% (no indexation)
Slab rate
Capital Gains Exemptions — Sec 54, 54EC, 54F REINVESTMENT
₹0 ▾
ℹ️ Reinvestment exemptions reduce your taxable capital gains. Enter amounts actually invested.
LTCG from sale of residential house — reinvested in new residential property
LTCG from property — invested in NHAI/REC bonds within 6 months. Max ₹50,00,000
LTCG from assets (non-residential) — full net consideration invested in new residential property
Capital Losses — Set-off & Carry Forward CURRENT YEAR
₹0 ▾
ℹ️ STCL can be set off against STCG and LTCG. LTCL can only be set off against LTCG.
Current year short-term capital loss (can set off against STCG or LTCG)
Current year long-term capital loss (can only set off against LTCG)
Brought forward short-term capital loss from prior years (up to 8 years)
Brought forward long-term capital loss from prior years (up to 8 years)
Property LTCG — Indexation Option LEGACY / PRE JUL 2024
▾
⚡ For property purchased before 23 July 2024, you may opt for 20% with indexation instead of 12.5% without. Choose the option that results in lower tax.
Business / Professional Income
Section 28–44 — PGBP income heads
Business Income PGBP
44AD/44AE — declare 6%/8% of turnover
44ADA — declare 50% of gross receipts
Windfall / Special Income SPECIAL RATE
⚡ Special rate income is taxed @30%. No slab benefit, no rebate u/s 87A applies on this tax.
Agricultural Income INTEGRATION
Agricultural income exempt from tax; used for rate integration
Other Sources
Section 56 — Interest, dividends, and miscellaneous income
Interest & Investment Income SECTION 56
Eligible for 80TTA/80TTB deduction
From non-relatives; taxable above ₹50,000
Deductions
Chapter VI-A — Applicable under Old Regime (some under New Regime)
80C — Life, EPF, PPF, ELSS, etc. MAX ₹1,50,000
₹0 ▾
80CCD(1B) — NPS Additional MAX ₹50,000
₹0 ▾
Over and above 80C — max ₹50,000
80D — Medical Insurance AGE-BASED LIMITS
₹0 ▾
ℹ️ Self/Spouse/Children: ₹25,000 (₹50,000 if senior). Parents: ₹25,000 (₹50,000 if senior).
Other Deductions — 80E, 80G, 80TTA/TTB, etc.
₹0 ▾
No limit — actual interest paid
Max ₹50,000 — loan sanctioned 2016-17
Max ₹1,50,000 — stamp duty ≤ ₹45L
Subject to qualifying limit
Max ₹10,000 (not for senior citizens)
Max ₹50,000 (senior citizens only)
Tax Credits & Payments
TDS deducted, advance tax paid, and self-assessment tax
Tax Already Paid / Deducted CREDITS
Interest under Section 234 OPTIONAL
ℹ️ These are auto-estimated. You can override with actual figures.
1% per month on tax due — for late return filing
1% per month if advance tax < 90% of liability
1% per month on each installment shortfall
Tax Computation Summary
FY 2026-27 | AY 2027-28
ℹ️ Click "🧮 Calculate Tax" to compute your tax liability.

Frequently Asked Questions — Income Tax FY 2026-27

Which tax regime is better — New or Old for FY 2026-27?
It depends on your deductions. The New Regime is usually better if your total deductions (80C + 80D + HRA + home loan interest etc.) are below approximately ₹3.75 lakh. For most salaried individuals with PF, PPF, LIC, and home loans, the Old Regime often wins. Use this calculator's "Compute & Compare" feature to see the exact difference — it runs both regimes simultaneously with your actual numbers.
What is the Section 87A rebate for FY 2026-27?
Under the New Regime for FY 2026-27, taxpayers with total income up to ₹12,00,000 get a full rebate u/s 87A — meaning zero tax payable. Under the Old Regime, the rebate is ₹12,500 for income up to ₹5,00,000. The rebate is not available on special-rate income like LTCG from equity.
Is this calculator valid for AY 2027-28?
Yes. This calculator covers FY 2026-27 (April 2026 to March 2027), which corresponds to Assessment Year (AY) 2027-28. The ITR for FY 2026-27 will be filed in AY 2027-28 (July 2027 deadline for most taxpayers).
What is the advance tax due date for Q1 FY 2026-27?
The first advance tax instalment (15% of estimated tax liability) is due by 15 June 2026. Subsequent instalments: 45% by 15 Sep 2026, 75% by 15 Dec 2026, and 100% by 15 Mar 2027. Salaried individuals whose entire tax is deducted as TDS are generally exempt from advance tax. Non-compliance attracts interest under Sections 234B and 234C.
Share: WhatsApp LinkedIn