Income Tax on ₹10 lakh Salary (FY 2026-27)

Q: Income Tax on ₹10 lakh Salary (FY 2026-27)?

On a ₹10 lakh salary, your income tax for FY 2026-27 is nil in the new regime, thanks to the ₹75,000 standard deduction and the 87A rebate.

On a ₹10 lakh salary, your income tax for FY 2026-27 is nil in the new regime, thanks to the ₹75,000 standard deduction and the 87A rebate.

Gross salary: ₹10,00,000
Tax, new regime: ₹0
Tax, old regime (₹2 lakh deductions): ₹65,000
Better choice: New regime
Monthly tax (new regime): ₹0

How it is worked out

New regime: ₹10 lakh minus the ₹75,000 standard deduction gives taxable income of ₹9,25,000. Slab tax is ₹32,500, the 87A rebate takes off ₹32,500, and 4% cess adds ₹0.

The working, both regimes

	New regime	Old regime
Taxable income	₹9,25,000	₹7,50,000
Tax on slabs	₹32,500	₹62,500
Rebate (87A)	−₹32,500	−₹0
Surcharge	₹0	₹0
Cess (4%)	₹0	₹2,500
Total tax	₹0	₹65,000

Income Tax on ₹10 lakh Salary (FY 2026-27)

How it is worked out

The working, both regimes

Try your own numbers

Similar answers