Your income

Annual figures for FY 2026-27 (tax year 2026-27).

Your age
₹
₹0₹1 Cr
Other incomeInterest, rent, freelance (taxed at slab rates)₹
Employer's NPS contributionAllowed in both regimes₹
Deductions (old regime only)The new regime ignores these. Limits are applied automatically.
  • 80C investmentsEPF, PPF, ELSS, life insurance, home loan principal, tuition fees · up to ₹1.5 L₹
  • Health insurance (80D)Premiums for self, family and parents · up to ₹1 L₹
  • HRA exemptionWork it out with the HRA calculator₹
  • Home loan interestSelf-occupied house · up to ₹2 L₹
  • Own NPS contributionOver and above 80C (80CCD(1B)) · up to ₹50K₹
  • Professional taxDeducted by your employer · up to ₹2.5K₹
  • Other deductionsEducation loan interest, donations, etc.₹

Old vs new regime

Your tax under both regimes, including cess and any surcharge.

New regimeLower tax₹97,500₹8,125 a month · 6.5% effective rate
Old regime₹2,02,020₹16,835 a month · 13.5% effective rate
The new regime saves you ₹1,04,520 a year.That is ₹8,710 a month more in hand. Take-home after tax: ₹14,02,500 a year.
  • The old regime only wins if your deductions reach about ₹5,44,500, ₹3,67,000 more than you have now.
  • Your top slab is 15% in the new regime, so each extra ₹1,000 of income costs about ₹156 in tax.

Tax computation

Line by line, as your employer or the ITR would work it out.

ItemNew regimeOld regime
Gross income₹15,00,000₹15,00,000
Standard deduction− ₹75,000− ₹50,000
Professional tax—− ₹2,500
80C investments—− ₹1,50,000
Health insurance (80D)—− ₹25,000
Taxable income₹14,25,000₹12,72,500
Tax at slab rates₹93,750₹1,94,250
Rebate (Section 156, earlier 87A)——
Marginal relief——
Surcharge₹0₹0
Health & education cess (4%)₹3,750₹7,770
Total tax₹97,500₹2,02,020

How your income falls into the slabs

Each slab's rate applies only to the income inside it.

  • ₹0 – ₹4 L0%₹4,00,000 taxed₹0
  • ₹4 L – ₹8 L5%₹4,00,000 taxed₹20,000
  • ₹8 L – ₹12 L10%₹4,00,000 taxed₹40,000
  • ₹12 L – ₹16 L15%₹2,25,000 taxed₹33,750
  • ₹16 L – ₹20 L20%₹0 taxed₹0
  • ₹20 L – ₹24 L25%₹0 taxed₹0
  • Above ₹24 L30%₹0 taxed₹0

Estimates only, not financial advice.Income tax calculator by BlogBanking