Reference table
Income tax rates for FY 2026-27
Rates for resident individuals for the tax year 1 April 2026 to 31 March 2027, the first year under the Income-tax Act, 2025. Union Budget 2026 did not change the slab rates.
New tax regime (default)
| Total 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% |
- Standard deduction for salary and pension: ₹75,000.
- Rebate: full rebate of tax up to ₹60,000 where total income does not exceed ₹12,00,000, with marginal relief just above that level. The rebate does not apply to income taxed at special rates such as capital gains.
- Most deductions available under the old regime are not allowed.
Old tax regime (on option)
| Total income (₹) | Below 60 | 60 to 79 | 80 and above |
|---|---|---|---|
| Up to 2,50,000 | Nil | Nil | Nil |
| 2,50,001 – 3,00,000 | 5% | Nil | Nil |
| 3,00,001 – 5,00,000 | 5% | 5% | Nil |
| 5,00,001 – 10,00,000 | 20% | 20% | 20% |
| Above 10,00,000 | 30% | 30% | 30% |
- Standard deduction for salary: ₹50,000. Rebate up to ₹12,500 where total income does not exceed ₹5,00,000.
Surcharge and cess
| Total income | New regime | Old regime |
|---|---|---|
| Above ₹50 lakh up to ₹1 crore | 10% | 10% |
| Above ₹1 crore up to ₹2 crore | 15% | 15% |
| Above ₹2 crore up to ₹5 crore | 25% | 25% |
| Above ₹5 crore | 25% | 37% |
Marginal relief applies at each surcharge threshold. Health and education cess is 4% of tax plus surcharge.
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Official source
Last reviewed 9 November 2026. General information only; see the disclaimer.