Tax on 15 lakh income in new regime ay 2026-27
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.