Compare new vs old tax regime, calculate take-home salary after TDS, PF and professional tax. Updated for Union Budget 2026.
✅ Last verified: June 2026 — Based on Income Tax Act and Union Budget 2026 slabs
⚡ QUICK ANSWER
On a salary of ₹10,00,000/year (New Regime 2026-27), income tax is ₹54,600 (after ₹75,000 standard deduction). Take-home: ~₹7,20,000/year (₹60,000/month). New regime is better for most salaried employees. Zero tax up to ₹7,00,000 under new regime with rebate u/s 87A.
🇮🇳 India Income Tax Calculator 2026-27
Gross Salary
-
Total Tax (TDS)
-
PF Deduction
-
Take-Home/yr
-
Take-Home/mo
-
Effective Tax Rate
-
Gross Salary-
Standard Deduction-
Other Deductions-
Taxable Income-
Income Tax-
Health & Education Cess (4%)-
PF (Employee 12%)-
Annual Take-Home-
Monthly Take-Home-
📊 India Tax Examples 2026-27 (New Regime)
₹75,000 standard deduction applied. 12% PF deducted. Source: Income Tax India 2026-27.
Gross Salary
Income Tax
PF (12%)
Eff. Rate
Take-Home/yr
Take-Home/mo
₹5,00,000
₹0 (Rebate)
₹60,000
0%
₹4,40,000
₹36,667
₹7,00,000
₹0 (Rebate)
₹84,000
0%
₹6,16,000
₹51,333
₹10,00,000
₹54,600
₹1,20,000
5.46%
₹8,25,400
₹68,783
₹15,00,000
₹1,45,600
₹1,80,000
9.7%
₹11,74,400
₹97,867
₹20,00,000
₹2,96,400
₹2,40,000
14.8%
₹14,63,600
₹1,21,967
₹30,00,000
₹6,24,000
₹2,50,000
20.8%
₹21,26,000
₹1,77,167
🇮🇳 New Tax Regime Slabs 2026-27
Taxable Income
Tax Rate
Up to ₹3,00,000
0%
₹3,00,001 – ₹7,00,000
5%
₹7,00,001 – ₹10,00,000
10%
₹10,00,001 – ₹12,00,000
15%
₹12,00,001 – ₹15,00,000
20%
Above ₹15,00,000
30%
+ 4% Health & Education Cess on tax. Standard deduction: ₹75,000. Rebate u/s 87A: Zero tax up to ₹7,00,000 taxable income.
⚖️ New Regime vs Old Regime — ₹10 Lakh Salary
Item
New Regime
Old Regime
Standard Deduction
₹75,000
₹50,000
80C Deductions
Not allowed
Up to ₹1,50,000
HRA Exemption
Not allowed
Allowed
Tax Payable
₹54,600
₹1,17,000*
Better Option
✅ New Regime
❌ Higher tax
*Old regime without HRA or 80C deductions. With max deductions, old regime may save more for high earners.
💡 India Tax Tips 2026-27
New Regime is Default from FY 2024-25
The new tax regime is now the default. You must explicitly opt for the old regime when filing ITR. For most salaried employees with limited deductions, new regime gives lower tax.
Zero Tax up to ₹7 Lakh
Under new regime, rebate u/s 87A gives complete tax relief for taxable income up to ₹7,00,000. With ₹75,000 standard deduction, you can earn up to ₹7,75,000 gross salary and pay zero income tax.
Old Regime Better if High Deductions
If you have high 80C investments (₹1.5L), HRA exemption, home loan interest deduction, and NPS contributions, old regime may still save more tax. Calculate both before choosing.
NPS Tax Benefit
Additional ₹50,000 deduction u/s 80CCD(1B) available for NPS contributions — available in old regime only. This is over and above the ₹1.5L 80C limit.
India Income Tax FAQs 2026-27
What are the new tax regime slabs for 2026-27?
New regime 2026-27: 0% up to ₹3L, 5% from ₹3L-7L, 10% from ₹7L-10L, 15% from ₹10L-12L, 20% from ₹12L-15L, 30% above ₹15L. Plus 4% cess. Standard deduction ₹75,000. Rebate u/s 87A gives zero tax up to ₹7L taxable income.
Which tax regime is better — new or old in 2026-27?
New regime is better for most salaried employees. Old regime is better only if you have high deductions — 80C investments of ₹1.5L, HRA exemption, home loan interest, NPS, etc. Calculate both and compare.
What is the income tax on ₹10 lakh salary in India 2026-27?
On ₹10,00,000 gross salary under new regime: after ₹75,000 standard deduction, taxable income = ₹9,25,000. Tax = ₹52,500 + 4% cess = ₹54,600 total. Take-home after PF: approximately ₹68,783/month.
What is the standard deduction in India 2026-27?
Standard deduction for salaried employees is ₹75,000 under new regime and ₹50,000 under old regime for FY 2026-27. This is automatically deducted from gross salary before calculating tax.
Up to what income is there no tax in India 2026-27?
Under new regime, taxable income up to ₹7,00,000 attracts zero tax due to rebate u/s 87A. With ₹75,000 standard deduction, you can earn gross salary up to ₹7,75,000 and pay zero income tax.
What is the surcharge on income tax in India?
Surcharge applies on high incomes: 10% surcharge on tax if income exceeds ₹50L, 15% above ₹1 Crore, 25% above ₹2 Crore, and 37% above ₹5 Crore (37% surcharge not applicable under new regime from FY 2023-24 onwards — max 25%).