Tax on 15 lakh income in new regime Ay 2026-27
Tax on 15 lakh income in new regime Ay 2026-2027
For Assessment Year (AY) 2026-27 (Financial Year 2025-26), the total tax on an income of ₹15 lakh (salary Income_ under the new regime is ₹97,500 (including 4% health and education cess).
This calculation assumes salaried individual eligible for the ₹75,000 standard deduction.
Tax Calculation Breakdown
The following breakdown is based on the updated slabs for AY 2026-27:
- Gross Total Income: ₹15,00,000
- Standard Deduction: (-) ₹75,000
- Net Taxable Income: ₹14,25,000
| Income Slabs (₹) | Tax Rate (%) | Tax Amount (₹) |
|---|---|---|
| Up to 4,00,000 | Nil | ₹0 |
| 4,00,001 to 8,00,000 | 5% | ₹20,000 |
| 8,00,001 to 12,00,000 | 10% | ₹40,000 |
| 12,00,001 to 14,25,000 | 15% | ₹33,750 |
| Total Tax Before Cess | ₹93,750 | |
| Health & Education Cess (4%) | ₹3,750 | |
| Total Tax Payable | ₹97,500 |
Key Highlights for AY 2026-27
- Default Regime: The new tax regime is the default option unless you specifically choose the old regime.
- Tax-Free Threshold: Due to the enhanced Section 87A rebate, salaried individuals with taxable income up to ₹12.75 lakh pay zero tax.
- Deductions: Most traditional deductions (like HRA, 80C, or 80D) are not available under this regime.
- Surcharge: For an income of ₹15 lakh, the surcharge is Nil, as it only applies to incomes exceeding ₹50 lakh.
Related Post
ITR Forms for AY 2026-27: Major changes you need to know
Penalty for Late Filing of ITR AY 2026-27
ITR filing Last Date FY 2025-26 AY 2026-27 I ITR filing Due date AY 2026-27
7th proviso of section 139(1) Income Tax Act 1961
TCS Rates FY 2026 27 under Income Tax Act 2025 from 1st April 2026
for more refer income tax website click here