Updated October 2026Compare both regimes side by side and see which leaves you better off. Updated for the Income-tax Act 2025, which came into force on 1 April 2026 and replaced the 1961 Act. The numbers did not change — slab rates and deduction limits carry over — but the language did: Section 80C is now Section 123, and 'Assessment Year' has been retired in favour of 'Tax Year'.
⚠ Verify before filing.Results are estimates based on the law as applied at the date shown above. Tax rules change — always confirm the current rate or provision at the official source (CBIC or Income Tax Department) before raising an invoice or filing a return. Last reviewed: 12 October 2026.
Income Tax
Tax Year 2026-27 applies to income earned from 1 April 2026. The result will include the selected period and law.
For Tax Year 2026-27, the former Section 80C deduction is referenced through section 123 and Schedule XV. The aggregate limit remains ₹1.5 lakh.
₹12 lakh rebate cliff — how this calculator handles it
For the new regime, the result explicitly shows the Section 87A rebate, marginal relief, surcharge and 4% cess. Just above the ₹12 lakh taxable-income threshold, marginal relief caps tax before cess so the liability does not jump disproportionately.
Frequently Asked Questions
What replaced Section 80C?
Under the Income-tax Act 2025, in force from 1 April 2026, Section 80C is renumbered Section 123. Limits are unchanged — only the numbering and terminology moved.
What is a 'Tax Year'?
The Income-tax Act 2025 retires the Assessment Year concept. Income is now referenced by the Tax Year in which it is earned, removing the AY/FY confusion that caught out filers for decades.
Did the tax slabs change for FY 2026-27?
No. Slab rates carry over unchanged. The Act 2025 was a restructuring and renumbering exercise — 819 sections became 536 — not a rate change.
When is my ITR due?
31 July 2026 for ITR-1 and ITR-2, and 31 August 2026 for non-audit ITR-3 and ITR-4. The revised-return window is now twelve months, up from nine, with a fee if filed after month nine.