New Tax Regime Calculator (FY 2026-27)
A detailed, slab-by-slab breakdown under the new regime — rebate, marginal relief, surcharge, and cess included.
The new regime allows almost no deductions — this and the ₹75,000 standard deduction are the two main exceptions. Everything else (80C, 80D, HRA, self-occupied home loan interest) only applies under the old regime.
Unlike a self-occupied home, interest on a loan for a rented-outproperty is deductible under the new regime too, with no cap — it’s part of computing house-property income, not a Chapter VI-A deduction. Leave both at ₹0 if you don’t have a let-out property.
Slab-by-Slab Breakdown
| Slab | Rate | Income in Slab | Tax in Slab |
|---|---|---|---|
| ₹0 – ₹4,00,000 | 0% | ₹4,00,000 | ₹0 |
| ₹4,00,000 – ₹8,00,000 | 5% | ₹4,00,000 | ₹20,000 |
| ₹8,00,000 – ₹12,00,000 | 10% | ₹4,00,000 | ₹40,000 |
| ₹12,00,000 – ₹16,00,000 | 15% | ₹2,25,000 | ₹33,750 |
How the new regime is calculated for FY 2026-27
The new regime applies seven slabs from 0% (up to ₹4,00,000) to 30% (above ₹24,00,000), after subtracting the ₹75,000 standard deduction and any employer NPS contribution. If your resulting taxable income is ₹12,00,000 or less, a full rebate under Section 87A wipes out the tax entirely — and just above that line, marginal relief kicks in so a rupee of extra income never costs more than a rupee in extra tax. Surcharge applies above ₹50 lakh of taxable income, with the same marginal-relief principle at each surcharge threshold, and a 4% health & education cess applies on top of everything.
The let-out property exception
The new regime is often described as allowing “no deductions,” but that’s not quite right for rented-out property. Interest on a home loan for a property you’ve let out is deductible with no upper limit when computing house-property income — this is part of how that income is computed under Sections 22-24, not a Chapter VI-A deduction the new regime removes. The real restriction is on self-occupied property interest (old regime only, capped at ₹2,00,000), and on using a house-property loss to reduce your salary income this year — under the new regime, such a loss can only be carried forward against future rental income, not set off immediately.
What's not included
This is an estimate for salaried/individual taxpayers using standard slabs — it doesn’t account for capital gains taxed at special rates, business income adjustments, or TDS already deducted. For an actual filing, verify with a tax professional or incometax.gov.in.