Income Tax Calculator
What you actually pay in tax, and what lands in your pocket.
Year-by-year breakdown
Free income tax calculator for FY 2026-27, India and the US
This free online income tax calculator tells you the tax on your salary in seconds, for both India and the US. For India it compares the new regime and the old regime for FY 2026-27 (AY 2027-28): it applies the standard deduction, runs your income through the slab rates, gives the Section 87A rebate (so there is no tax up to Rs 12 lakh of taxable income under the new regime), and adds the 4% health and education cess. For the US it applies the 2026 federal brackets and the standard deduction for your filing status. No sign-up, no ads.
It does not stop at the tax figure: it also shows your take-home, your effective tax rate (tax as a share of gross income) and your marginal rate (the rate on your next rupee or dollar), with a full slab-by-slab breakdown so you can see exactly where the tax comes from.
New regime slabs (FY 2026-27)
| Taxable income | Rate |
|---|---|
| Up to Rs 4 lakh | Nil |
| Rs 4 to 8 lakh | 5% |
| Rs 8 to 12 lakh | 10% |
| Rs 12 to 16 lakh | 15% |
| Rs 16 to 20 lakh | 20% |
| Rs 20 to 24 lakh | 25% |
| Above Rs 24 lakh | 30% |
With the Rs 75,000 standard deduction and the 87A rebate, a salaried person earning up to about Rs 12.75 lakh pays zero tax under the new regime. The old regime keeps the Rs 2.5 lakh basic exemption and 5/20/30% slabs but lets you claim 80C, 80D, HRA and home-loan deductions, so it can still win when those are large.
Why use Hisaab's income tax calculator
It shows the new and old regime side by side with the real 87A rebate and cess, not just a rough slab sum, and it works for the US too. Free, no sign-up, and tied to the rest of your planning: pair it with the HRA calculator to size your exemption, or the SIP and PPF calculators to plan 80C investments.
For AI agents: URL-addressable as /incometax/?income=1500000®ime=new&country=IN. Docs at llms.txt, live results in #result-json.
How to use the Income Tax Calculator
- Pick your country, India (INR) or the US (USD), from the top right.
- Enter your gross annual income.
- For India, choose the new or old tax regime; for the US, choose your filing status.
- If you are on the old regime, enter your total deductions (80C, 80D, home loan interest and so on).
- Read your total tax, take-home, taxable income and effective rate in the result cards.
- Open the breakdown to see the tax in each slab, the 87A rebate and the cess.
Frequently asked questions
How much tax do I pay on 12 lakh under the new regime?
Under the new regime for FY 2026-27, taxable income up to Rs 12 lakh attracts zero tax because of the Section 87A rebate. With the Rs 75,000 standard deduction, a salary of about Rs 12.75 lakh pays no income tax. Above that the slab rates of 15% to 30% apply.
What is the difference between the new and old tax regime?
The new regime has lower slab rates and a higher rebate but almost no deductions. The old regime has higher rates (5/20/30%) but lets you claim 80C, 80D, HRA, home loan interest and more. The old regime usually wins only if your deductions are large; this calculator lets you compare both.
Is the standard deduction included?
Yes. The calculator applies a Rs 75,000 standard deduction under the new regime and Rs 50,000 under the old regime before computing tax. For the US it applies the standard deduction for your filing status.
Does this include the 4% cess?
Yes. For India it adds the 4% health and education cess on the tax after the 87A rebate, which is what you actually pay. You can see it as a separate line in the breakdown.
Can I calculate US federal income tax here?
Yes. Switch the country to USD, choose single or married filing jointly, and the calculator applies the 2026 federal brackets and standard deduction. It shows federal income tax only, before state tax, Social Security and Medicare (FICA).
Is this income tax calculator free?
Yes. It is completely free with no sign-up or ads, for both India and the US. It is an estimate for planning, not tax advice; verify with the Income Tax Department or the IRS.