Income Tax Calculator — Old vs New Regime
Compare estimated income tax under the Old and New tax regimes for FY 2025-26 (AY 2026-27). Illustrative only — always verify against the latest rules or a tax professional before filing.
Your income details
Illustrative only, based on FY 2025-26 (AY 2026-27) slab rates for individuals below 60 years, including 4% health & education cess and Section 87A rebate. Senior citizen slabs, surcharge on high incomes, and every deduction type are not modelled — verify with a tax professional before filing.
FY 2025-26 (AY 2026-27) slab rates used
| New Regime slab | Rate | Old Regime slab | Rate |
|---|---|---|---|
| Up to ₹4,00,000 | Nil | Up to ₹2,50,000 | Nil |
| ₹4,00,000 – ₹8,00,000 | 5% | ₹2,50,000 – ₹5,00,000 | 5% |
| ₹8,00,000 – ₹12,00,000 | 10% | ₹5,00,000 – ₹10,00,000 | 20% |
| ₹12,00,000 – ₹16,00,000 | 15% | Above ₹10,00,000 | 30% |
| ₹16,00,000 – ₹20,00,000 | 20% | — | — |
| ₹20,00,000 – ₹24,00,000 | 25% | — | — |
| Above ₹24,00,000 | 30% | — | — |
New Regime: Section 87A rebate makes tax nil for net taxable income up to ₹12,00,000 (up to ₹12,75,000 for salaried individuals after standard deduction). Old Regime: full rebate for net taxable income up to ₹5,00,000. Rates shown are for individuals below 60; senior/super-senior slabs differ.
Frequently asked questions
It depends on how many deductions and exemptions you claim (like HRA, 80C, home loan interest, health insurance premium). Broadly, the New Regime tends to suit people with few deductions, while the Old Regime can work out better if you claim substantial 80C/80D/HRA benefits. Run both numbers above and compare.
The New Regime is the default regime for FY 2025-26 (AY 2026-27), but eligible taxpayers can still opt for the Old Regime when filing, subject to the applicable conditions and timelines.
No — it's a simplified illustration using the standard deduction (for salaried/pensioners) and a single deductions figure you enter for the Old Regime. For an exact number, use the income tax department's official calculator or a tax professional, especially if your income has multiple components.
No. This is an educational, illustrative calculator only. Phoneme Quant is a distribution and referral business, not a tax advisor, and this tool does not account for every deduction, exemption or edge case in your specific situation.