₹15 lakh salary, new regime
Taxable income is ₹15,00,000 − ₹75,000 = ₹14,25,000. Slab tax is ₹93,750: 5% of ₹4 lakh, 10% of ₹4 lakh and 15% of ₹2.25 lakh. There is no rebate above ₹12 lakh. With 4% cess the tax is ₹97,500.
Income tax calculator India (old vs new regime), FY 2026-27
15 lakh
Income type
2 lakhIgnored in the new regime.
Better regime: new
₹97,500
The new regime saves ₹97,500 a year.
About ₹8,125 a month in tax.
- New regime tax
- ₹97,500
- Old regime tax
- ₹1,95,000
- Monthly tax (better)
- ₹8,125
- Effective rate (new)
- 6.5%
New regime₹97,500.00
Old regime₹1,95,000.00
Details: slab-by-slab breakdown
New regime · taxable ₹14,25,000.00
| Income band | Rate | Tax |
|---|---|---|
| ₹0.00 – ₹4,00,000.00 | 0% | ₹0.00 |
| ₹4,00,000.00 – ₹8,00,000.00 | 5% | ₹20,000.00 |
| ₹8,00,000.00 – ₹12,00,000.00 | 10% | ₹40,000.00 |
| ₹12,00,000.00 – ₹14,25,000.00 | 15% | ₹33,750.00 |
| Standard deduction | −₹75,000.00* | |
| 87A rebate | −₹0.00 | |
| 4% health & education cess | +₹3,750.00 | |
| Total tax | ₹97,500.00 | |
Old regime · taxable ₹12,50,000.00
| Income band | Rate | Tax |
|---|---|---|
| ₹0.00 – ₹2,50,000.00 | 0% | ₹0.00 |
| ₹2,50,000.00 – ₹5,00,000.00 | 5% | ₹12,500.00 |
| ₹5,00,000.00 – ₹10,00,000.00 | 20% | ₹1,00,000.00 |
| ₹10,00,000.00 – ₹12,50,000.00 | 30% | ₹75,000.00 |
| Standard deduction | −₹50,000.00* | |
| 87A rebate | −₹0.00 | |
| 4% health & education cess | +₹7,500.00 | |
| Total tax | ₹1,95,000.00 | |
*Taken off income before the slabs apply.
Income tax in India for FY 2026-27
FY 2026-27 is the first year under the Income-tax Act, 2025, which replaced the 1961 Act from 1 April 2026. The law was rewritten in simpler language, but Budget 2026 kept the slabs, the ₹75,000 standard deduction and the section 87A rebate the same as last year. The new regime is the default. You have to choose the old regime yourself: salaried people tell their employer and confirm it in the return, and people with business income file a separate option form.
The tool works in a fixed order. It takes gross income, subtracts the standard deduction and, in the old regime only, the deductions you type. It then runs taxable income through the slabs, applies the rebate and marginal relief, and adds 4% health and education cess. Surcharge starts above ₹50 lakh and is left out, so very high incomes should treat the answer as a minimum.
Most salaried people should start with the new regime and only check the old one if their deductions are large. Rent you pay can be checked in the HRA exemption calculator. To see what your CTC leaves you each month, use the in-hand salary calculator. Money in the PPF or Sukanya Samriddhi scheme only lowers your tax in the old regime, through 80C.
Sources
What this calculator does not account for
- Surcharge edge cases, special-rate income such as capital gains or lottery, and agricultural income.
- Deductions you do not enter, and any changes after the current Finance Act.
How this is calculated
Formula: Slab tax, minus rebate, plus 4% cess
tax =(slab tax on taxable income − 87A rebate) × 1.04What the symbols mean
- taxable incomeGross income minus the standard deduction (₹75,000 new, ₹50,000 old, salaried only) and, in the old regime, deductions such as 80C and 80D.
- new slabsNil to ₹4L, 5% to ₹8L, 10% to ₹12L, 15% to ₹16L, 20% to ₹20L, 25% to ₹24L, 30% above.
- old slabsNil to ₹2.5L (₹3L at 60+, ₹5L at 80+), 5% to ₹5L, 20% to ₹10L, 30% above.
Good to know
- Budget 2026 left slabs and the rebate unchanged for FY 2026-27, the first year under the Income-tax Act, 2025.
- New regime rebate: up to ₹60,000 while taxable income is within ₹12 lakh. Just above ₹12 lakh, marginal relief caps the tax at the income above ₹12 lakh.
- Old regime rebate: up to ₹12,500 while taxable income is within ₹5 lakh.
Read the full methodologyFound an error? Contact us
Worked examples
Each example is worked out by the same code as the calculator above.
The same salary in the old regime
With ₹1.5 lakh under 80C, ₹25,000 under 80D and the ₹50,000 standard deduction, taxable income is ₹12,75,000. Slab tax is ₹1,95,000, or ₹2,02,800 with cess. The new regime saves ₹1,05,300.
Marginal relief just above ₹12 lakh
A ₹12,85,000 salary leaves ₹12,10,000 taxable. Slab tax would be ₹61,500, but marginal relief caps it at the ₹10,000 above ₹12 lakh. With cess the tax is ₹10,400.
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<iframe src="/embed/income-tax-india" title="Income tax India" width="100%" height="720" style="border:0;max-width:42rem" loading="lazy"></iframe>Questions
Is income up to ₹12 lakh tax-free in FY 2026-27?
Under the new regime, yes: the 87A rebate cancels the tax up to ₹12 lakh of taxable income. With the ₹75,000 standard deduction, a salary up to ₹12.75 lakh pays no tax.
Which regime is better for me?
The old regime only wins if your deductions are large, usually ₹4 lakh or more across 80C, 80D, home-loan interest and HRA. Enter your deductions and compare the two totals.
What assessment year is this?
Financial year 2026-27 (1 April 2026 to 31 March 2027). The return is filed in assessment year 2027-28, called tax year 2026-27 under the new Act.
Does it include surcharge?
No. Surcharge starts at ₹50 lakh of income. Above that, treat the result as a lower bound.
How much tax is due on a ₹15 lakh salary in FY 2026-27?
Under the new regime, ₹97,500 including cess, after the ₹75,000 standard deduction. Under the old regime it is higher unless your deductions come to about ₹4 lakh or more.
What is marginal relief at ₹12 lakh?
If taxable income is just over ₹12 lakh, the tax is capped at the amount by which income exceeds ₹12 lakh. Without it, earning ₹1 more than ₹12 lakh would cost ₹60,000 in tax.
Do pensioners get the standard deduction?
Yes. A pension from a former employer is taxed as salary, so it gets the same ₹75,000 (new) or ₹50,000 (old) standard deduction.