An income tax calculator works out the tax you owe on your annual income under both the old and new regimes and tells you which is cheaper. Enter your salary, other income and deductions like 80C, HRA and 80D, and it instantly shows your taxable income, §87A rebate, surcharge, 4% cess and total tax.
| Old Regime | New Regime | |
|---|---|---|
| Total Income | ₹0 | ₹0 |
| Exemptions & Deductions | ₹50,000 | ₹75,000 |
| Taxable Income | ₹0 | ₹0 |
| Income Tax (before rebate) | ₹0 | ₹0 |
| Less: Rebate u/s 87A | ₹0 | ₹0 |
| Surcharge | ₹0 | ₹0 |
| Health & Education Cess (4%) | ₹0 | ₹0 |
| Total Tax Payable | ₹0 | ₹0 |
The new regime allows only the ₹75,000 standard deduction and employer NPS — the deduction inputs on the left apply to the old regime. Figures are indicative; confirm against the latest Budget / CBDT rules and your Form 16.
| Income slab | Tax rate |
|---|---|
| ₹0 – ₹4,00,000 | 0% |
| ₹4,00,000 – ₹8,00,000 | 5% |
| ₹8,00,000 – ₹12,00,000 | 10% |
| ₹12,00,000 – ₹16,00,000 | 15% |
| ₹16,00,000 – ₹20,00,000 | 20% |
| ₹20,00,000 – ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
| Income slab | Tax rate |
|---|---|
| ₹0 – ₹2,50,000 | 0% |
| ₹2,50,000 – ₹5,00,000 | 5% |
| ₹5,00,000 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
An income tax calculator estimates the tax payable on your total annual income for a given assessment year. Indian taxpayers can choose between two systems — the new regime (lower slab rates, almost no deductions) and the old regime (higher rates, but generous deductions and exemptions). The ATS Income Tax Calculator works out both and recommends whichever costs you less.
Under the new regime for AY 2027-28 (FY 2026-27), slabs run from 0% up to ₹4 lakh through to 30% above ₹24 lakh, with a ₹75,000 standard deduction. Thanks to the enhanced §87A rebate, a taxable income up to ₹12 lakh attracts no tax at all — so a salary of roughly ₹12.75 lakh (after the standard deduction) can be entirely tax-free.
The old regime keeps the ₹2.5 lakh / ₹5 lakh / ₹10 lakh slabs but lets you reduce taxable income with the ₹50,000 standard deduction, 80C investments (up to ₹1.5 lakh), HRA exemption, 80D health insurance, home-loan interest under section 24(b) and more. On top of the slab tax, the calculator applies the §87A rebate, any surcharge on high incomes, and a 4% health & education cess to give your final liability.
| Deduction / exemption | Section | Limit |
|---|---|---|
| Standard deduction | — | ₹50,000 (old) · ₹75,000 (new) |
| Investments — PPF, ELSS, LIC, EPF, etc. | 80C | ₹1,50,000 |
| NPS (self contribution) | 80CCD(1B) | ₹50,000 |
| Home-loan interest (self-occupied) | 24(b) | ₹2,00,000 |
| Health insurance — self / family | 80D | ₹25,000 (₹50,000 if 60+) |
| Health insurance — parents | 80D | ₹50,000 |
| HRA exemption | 10(13A) | 50% metro / 40% non-metro of basic+DA |
Under the new regime for AY 2027-28, the §87A rebate makes a taxable income of up to ₹12 lakh fully tax-free (rebate up to ₹60,000). With the ₹75,000 standard deduction, a salary of about ₹12.75 lakh pays no tax. Income above that is taxed at the normal slab rates.
The Financial Year (FY) is the year in which you earn income; the Assessment Year (AY) is the following year in which you file and are assessed. FY 2026-27 corresponds to AY 2027-28.
No. The new regime allows only the standard deduction and the employer NPS contribution (80CCD(2)). To claim 80C, HRA, 80D, home-loan interest and similar deductions you must use the old regime.
If your taxable income is at or below the rebate threshold, tax up to a cap is waived. New regime AY 2027-28: taxable ≤ ₹12 lakh → rebate up to ₹60,000. Old regime: taxable ≤ ₹5 lakh → rebate up to ₹12,500.
Yes. It adds a 4% health & education cess on the tax plus surcharge, and applies surcharge for higher incomes (from 10% above ₹50 lakh). Both are shown in the regime-wise breakdown.