Finance
Income Tax Calculator
Estimate your income tax under India's new tax regime, FY 2025-26 (AY 2026-27) — the current default regime.
Estimated tax payable
—
Enter your annual income
Taxable income
—
Cess (4%)
—
Effective rate
—
In-hand income
—
Estimates only, based on the new tax regime slabs for FY 2025-26 (AY 2026-27) — the current default regime. Doesn't account for the old regime, capital gains, or other special-rate income. Confirm with a tax professional or the official Income Tax e-filing portal before filing.
Frequently asked questions
What are the new tax regime slabs for FY 2025-26 (AY 2026-27)?
Nil up to ₹4 lakh, 5% from ₹4–8 lakh, 10% from ₹8–12 lakh, 15% from ₹12–16 lakh, 20% from ₹16–20 lakh, 25% from ₹20–24 lakh, and 30% above ₹24 lakh. This is the current default regime.
Why is my tax showing as zero even though I have taxable income?
Under Section 87A, a rebate of up to ₹60,000 applies when net taxable income (after the standard deduction) is ₹12 lakh or less, which fully cancels out the tax on that range under the new regime.
Is this the same as AY 2025-26?
Not quite — AY 2025-26 corresponds to income earned in FY 2024-25, which used a lower rebate threshold (₹7 lakh) and a different slab structure. This calculator uses the current FY 2025-26 (AY 2026-27) slabs, which apply to income earned in the year ending March 2026 and are what most people filing now actually need.
Does this cover the old tax regime?
No — this calculator only covers the new regime, which is the default for most taxpayers. The old regime has different slabs and allows deductions like 80C and HRA, which this tool doesn't model.
Who invented income tax?
Modern income tax is generally credited to the UK, introduced by William Pitt the Younger in 1798 to fund the Napoleonic Wars. India's own income tax system dates to 1860, introduced by the British colonial government, and was substantially rewritten after independence.