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Reference

Income Tax Slabs

New and old regime rates for the current assessment year.

Updated 17 August 2026

FY 2026-27 · AY 2027-28

New regime (default)

Income slabTax rate
₹0 – ₹4,00,0000%
₹4,00,000 – ₹8,00,0005%
₹8,00,000 – ₹12,00,00010%
₹12,00,000 – ₹16,00,00015%
₹16,00,000 – ₹20,00,00020%
₹20,00,000 – ₹24,00,00025%
Above ₹24,00,00030%

The default regime since FY 2023-24. Section 87A rebate of ₹60,000 makes income up to ₹12 lakh effectively tax-free (₹12.75 lakh for salaried, after the ₹75,000 standard deduction). Almost all deductions — 80C, 80D, HRA, LTA — are unavailable.

Old regime (opt-in)

Income slabTax rate
₹0 – ₹2,50,0000%
₹2,50,000 – ₹5,00,0005%
₹5,00,000 – ₹10,00,00020%
Above ₹10,00,00030%

Must be actively opted into. Retains 70+ deductions and exemptions including 80C, 80D, HRA, LTA and home loan interest under Section 24(b). Worth it only if your total deductions clear the break-even point for your income.

Worth knowing.A 4% health and education cess applies on the tax plus surcharge in both regimes. Surcharge starts at 10% above ₹50 lakh of income and is capped at 25% under the new regime, against 37% under the old.

Data as of 17 Aug 2026Source: incometax.gov.in

Worth knowing.The new regime is the default. You must actively opt into the old one, and for salaried taxpayers that choice can be changed each year at the time of filing.

Your numbers

₹15 L
₹0₹15,00,000₹50 Cr
₹2 L
₹0₹2,00,000₹50 L

Only usable under the old regime.

Tax under the new regime
₹97,500
New regime tax
₹97,500
Old regime tax
₹1,95,000
New regime saves you
₹97,500
Effective tax rate
6.50%
Monthly take-home
₹1,16,875

What this means.The new regime wins here. You would need deductions above roughly ₹5,43,750 for the old regime to catch up.

View the full breakdown (9 rows) →
New regimeOld regime
Gross income₹15,00,000₹15,00,000
Standard deduction₹75,000₹50,000
Other deductions₹0₹2,00,000
Taxable income₹14,25,000₹12,50,000
Tax before rebate₹93,750₹1,87,500
Section 87A rebate₹0₹0
Surcharge₹0₹0
Health & education cess₹3,750₹7,500
Total tax₹97,500₹1,95,000

Questions

Is this tax information specific to India?

Yes. Everything on Credsir is written for Indian regulation, Indian tax law and Indian products — RBI rules, IRDAI norms, SEBI regulation and the current financial year’s income tax provisions.

How often is this page updated?

Rate tables are refreshed weekly, and immediately after an RBI policy change or a Budget announcement. Every figure on the page carries the date it was captured and a link to its source, so you can always see how current it is.

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Advertised rates are the best case, reserved for applicants with a high credit score, stable income and a favourable profile. Your offer depends on your credit score, employer, income and existing obligations. Treat published rates as the floor, not the quote.

Related reading

Worth knowing.Rates, fees and terms change frequently and vary by applicant. Everything here is general information, not personalised advice. Confirm the current terms directly with the institution before you apply. How we research and rate.