FY 2025–26 & FY 2026–27 Tax Slabs
Income Tax on ₹7 Lakh Salary (New vs Old Regime)
Complete tax ledger, deduction breakdown, and monthly TDS computation for an annual income of ₹7,00,000.
New Tax Regime Recommended
₹0 total tax
Monthly TDS deduction: ₹0/mo
Standard Deduction §16(ia) − ₹75,000
Taxable Income ₹6,25,000
Rebate u/s 87A − ₹16,250
Health & Education Cess (4%) ₹0
Old Tax Regime Without Deductions
₹44,200 total tax
Monthly TDS deduction: ₹3,683/mo
Tax Savings Verdict: Choosing the New Tax Regime saves you ₹44,200 annually on a ₹7 Lakh income!
Slab-wise Tax Computation (New Regime)
| Slab Bracket | Tax Rate | Taxable in Bracket | Tax Amount |
|---|---|---|---|
| ₹1 – ₹3,00,000 | 0% | ₹3,00,000 | ₹0 |
| ₹3,00,001 – ₹7,00,000 | 5% | ₹3,25,000 | ₹16,250 |
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