Tax SlabsOld tax regime slabs for tax year 2026-27 (FY 2026-27)
The old regime has higher rates than the new one but lets you subtract many deductions and exemptions first. Its slabs depend on age, and they are unchanged for income earned from 1 April 2026 to 31 March 2027.
Below 60 years
| Taxable income in the year | Rate on that part |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 to ₹5,00,000 | 5% |
| ₹5,00,001 to ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Senior citizens: 60 to 79 years, resident in India
| Taxable income in the year | Rate on that part |
|---|---|
| Up to ₹3,00,000 | Nil |
| ₹3,00,001 to ₹5,00,000 | 5% |
| ₹5,00,001 to ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Super senior citizens: 80 years or more, resident in India
| Taxable income in the year | Rate on that part |
|---|---|
| Up to ₹5,00,000 | Nil |
| ₹5,00,001 to ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
The age is counted at any time during the year: a person who turns 60 on any day of the year uses the senior citizen slabs for the whole year.
What goes with the slabs
- Standard deduction: ₹50,000 for salaried people and pensioners.
- Rebate: a resident individual with taxable income up to ₹5,00,000 gets a rebate of up to ₹12,500, which brings the tax to nil.
- Cess: 4% health and education cess on the tax. Surcharge above ₹50 lakh.
Deductions people use most
| Section | For | Limit |
|---|---|---|
| 80C (with 80CCC and 80CCD(1)) | Provident fund, life insurance premium, ELSS, tuition fees, home loan principal and similar | ₹1,50,000 together |
| 80CCD(1B) | Your own extra contribution to the National Pension System | ₹50,000 |
| 80D | Health insurance premium for self, spouse and children | ₹25,000 (₹50,000 if a senior citizen is covered) |
| 80D | Health insurance premium for parents | ₹25,000 (₹50,000 if a parent is a senior citizen) |
| 24(b) | Interest on a home loan for a house you live in | ₹2,00,000 |
| 80E | Interest on an education loan | The interest paid, no upper limit |
| 80TTB | Interest on deposits, for resident senior citizens | ₹50,000 |
Limits as listed by the Income Tax Department for financial year 2025-26. Each deduction has conditions; this table is a summary, not the full rule. House rent allowance is an exemption worked out separately from the rent paid, the salary and the city.
A worked example
Salary ₹12,00,000, age below 60, deductions of ₹2,00,000 besides the standard deduction. Taxable income: ₹12,00,000 minus ₹50,000 minus ₹2,00,000 is ₹9,50,000. The tax:
- Nil on ₹2,50,000: ₹0
- 5% on ₹2,50,000: ₹12,500
- 20% on ₹4,50,000: ₹90,000
That adds up to ₹1,02,500. With 4% cess the tax for the year is ₹1,06,600. The same salary in the new regime, with no deductions, is taxed at ₹0.
Common questions
Who can use the old regime?
Anyone. The new regime is the default, but an individual can opt for the old regime. People without business income can choose each year in the return, filed by the due date.
Up to what income is there no tax in the old regime?
A resident individual with taxable income up to ₹5,00,000 pays no tax because of the rebate of up to ₹12,500. The basic exemption itself is ₹2,50,000 below 60, ₹3,00,000 from 60 to 79 and ₹5,00,000 from 80.
Is the standard deduction different in the old regime?
Yes. It is ₹50,000 in the old regime and ₹75,000 in the new regime.
Sources
- Slabs of both regimes, surcharge and cess for tax year 2026-27: Memorandum explaining the provisions of the Finance Bill, 2026, Ministry of Finance (February 2026), which states that no change is proposed in these rates.
- The same rates, the rebate limits and the deduction limits for financial year 2025-26: Income Tax Department, e-filing portal help page "Salaried Individuals for AY 2026-27".
- Checked on 11 November 2026.
Rates checked on 11 November 2026 against the Finance Bill, 2026 memorandum and the Income Tax Department's e-filing help pages. Tax law changes with every Budget and has many special cases. This page is general information and arithmetic, not tax advice: confirm your own position at incometax.gov.in or with a tax professional.