Income tax slabs for FY 2026-27
Slab rates for individuals below 60 years, assessment year 2027-28. Union Budget 2026 (1 Feb 2026) kept slab rates under both regimes unchanged for FY 2026-27.
Slab rates
| Taxable income | Rate |
|---|---|
| Up to ₹4,00,000 | Nil |
| ₹4,00,001 – ₹8,00,000 | 5% |
| ₹8,00,001 – ₹12,00,000 | 10% |
| ₹12,00,001 – ₹16,00,000 | 15% |
| ₹16,00,001 – ₹20,00,000 | 20% |
| ₹20,00,001 – ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
| Taxable income | Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Old-regime exemption limits are higher for senior citizens (60–80) and super senior citizens (80+); those are not covered by this calculator.
Rebate, deductions, surcharge and cess
- Standard deduction for salaried individuals: ₹75,000 (new regime), ₹50,000 (old regime).
- Rebate: no tax if taxable income is up to ₹12,00,000 in the new regime (maximum rebate ₹60,000, with marginal relief just above the limit), or up to ₹5,00,000 in the old regime (maximum ₹12,500).
- Surcharge: 10% above ₹50,00,000, 15% above ₹1,00,00,000, 25% above ₹2,00,00,000 in the new regime; the old regime adds 37% above ₹5,00,00,000. Marginal relief applies at each threshold.
- Health and education cess: 4% on tax plus surcharge.
Sources
Last updated 3 October 2026. Verify with Income Tax Department, Government of India and Union Budget documents.