Income Tax Calculator
FY 2025-26 (AY 2026-27) · India
Tax regime
The New Regime under §115BAC is the default. Old Regime allows 80C/80D/HRA deductions.
Income· ₹15,00,000
Deductions· ₹0
Most Chapter VI-A deductions (80C, 80D, HRA) are not allowed under the New Regime. Only the Standard Deduction (₹75,000 for salaried) and employer NPS contribution apply.
HRA Exemption· Old regime only
HRA exemption u/s 10(13A) is not allowed under the New Regime. Switch to Old Regime to claim it.
New Regime saves you ₹1,05,300
Old Regime tax: ₹2,02,800 vs current ₹97,500
Total tax
₹97,500
Take-home
₹14,02,500
Effective rate
6.5%
Marginal 15%
Breakdown
- Gross income₹15,00,000
- Standard deduction−₹75,000
- Taxable income₹14,25,000
- Income tax (New Regime)Marginal 15%₹93,750
- Health & Education Cess (4%)₹3,750
- Total tax₹97,500
- Net take-home₹14,02,500
Notes & assumptions (3)
- Under the New Regime (default from FY 2023-24), most Chapter VI-A deductions (80C, 80D, HRA) are not allowed. Only standard deduction (₹75,000 for salaried) and employer NPS contribution (80CCD(2)) reduce taxable income.
- Rebate u/s 87A makes taxable income up to ₹12,00,000 effectively tax-free under the New Regime FY 2025-26.
- Excludes capital gains (taxed under §111A / §112A) and Professional Tax (state-levied, typically ₹2,500/year).
Official sources for India (FY 2025-26 (AY 2026-27))
Calculated for general guidance only. Tax laws change frequently — verify against official sources before filing. This calculator does not constitute tax advice. For complex situations, consult a qualified tax professional in India.