Income Tax Calculator
Calculate and compare income tax across India, USA, UK, Canada & Australia. Visualize tax brackets, deductions, and take-home salary with interactive charts.
Income Tax Calculator
Calculate and compare tax across different countries
India - FY 2026-27
Financial Year
Standard Deduction: $75,000 applied.
Additional Deductions
Total Tax
$0
0.0% effective rate
Take Home
$1,200,000
100.0% of gross
Taxable Income
$1,125,000
After deductions
New vs Old Regime Comparison
New Regime
Old Regime
Recommendation
Go with New Regime
You save $163,800 annually!
Tax Breakdown
Tax Brackets (India)
How Your Tax is Calculated
| Bracket | Rate | In This Bracket | Tax |
|---|---|---|---|
| Up to ₹4L | 0% | $400,000 | $0 |
| ₹4L - ₹8L | 5% | $400,000 | $20,000 |
| ₹8L - ₹12L | 10% | $325,000 | $32,500 |
| Total | - | $1,125,000 | $0 |
India Tax Summary
For tax year FY 2026-27, with gross income of $1,200,000: you pay $0 in taxes, resulting in an effective rate of 0.00%. Your annual take-home salary is $1,200,000 (100.0% of gross).
Budget 2025 & 2026 Decoded
Understanding the seismic shifts in Indian Income Tax
New Default Regime
The New Tax Regime is now the structural default. It offers much lower rates but eliminates most popular deductions like 80C and HRA.
The ₹12 Lakh Rule
Section 87A rebate has been aggressively enhanced. Taxable income up to ₹12 lakh results in ZERO tax liability under the New Regime.
Enhanced SD
Standard Deduction for salaried individuals in the New Regime is increased to ₹75,000, providing an immediate relief of ₹25,000 extra deduction.
Transition to Income-tax Act, 2025
The government is transitioning to a cleaner, more modern Income-tax Act, 2025. This new act focuses on simplicity and lower rates, gradually phasing out the complex 1961 Act.
- Simplified capital gains taxation (12.5% LTCG)
- Elimination of several "nuisance" sections
- Shorter timelines for tax assessments