Get the income tax calculator Excel free download for FY 2026-27 (tax year 2026-27, AY 2027-28) for salaried employees and pensioners. It works out your tax under the old and new tax regime side by side. Enter your salary, HRA, rent, 80C, 80D, NPS and home loan interest in the yellow cells, and the sheet shows your taxable income, tax, cess and monthly TDS for both regimes, with a clear verdict on which one saves more. It also works for FY 2025-26 (AY 2026-27), the return you file in 2026.
Income Tax Calculator Excel FY 2026-27 (Old vs New Regime)
File: income-tax-calculator-excel-fy-2026-27-hrcalcy.xlsx · About 19 KB · 3 sheets · No macros, no password · Updated 17 October 2026
Download Excel (free) Use the online calculatorThe file is hosted on Google Drive. No sign-in, email or payment is needed. If it opens in Google Sheets instead of downloading, choose File → Download → Microsoft Excel (.xlsx), or view the sheet on Google Drive.
What's Inside the Income Tax Calculator Excel
It is a complete old vs new tax regime calculator in Excel: one workbook, three sheets.
| Sheet | What it does |
|---|---|
| Calculator | Your inputs on the left (yellow cells), both regimes worked out line by line on the right: exemptions, standard deduction, deductions, taxable income, slab tax, rebate, surcharge, cess, total tax, monthly TDS and effective rate, plus a verdict. |
| Rates | The slabs, limits and rules the formulas use, with section numbers under the Income-tax Act, 2025 and the old 1961 Act, and the HRA metro city list. |
| How to use | Short instructions, what the sheet covers and what it does not. |
It handles: both regimes · FY 2026-27 and FY 2025-26 · three age groups (below 60, 60 to 79, 80 and above) · HRA with the 8 metro cities from FY 2026-27 · ₹75,000 and ₹50,000 standard deduction · 80C, 80CCD(1B), employer NPS 80CCD(2), 80D, 80TTA/80TTB, home loan interest, 80E/80G · the ₹60,000 rebate with marginal relief (zero tax up to ₹12 lakh taxable, ₹12.75 lakh salary) · surcharge with marginal relief · 4% cess · rounding to the nearest ₹10.
How to Use the Income Tax Calculator in Excel
- Download and open the file in Microsoft Excel or LibreOffice Calc. If Excel shows "Protected View", click Enable Editing.
- Choose from the drop-downs: financial year, your age, employer (private or government, which changes the employer NPS limit in the old regime) and city (for HRA).
- Enter yearly amounts for gross salary, Basic + DA and any employer NPS contribution. Add savings interest, FD interest and other income.
- Fill the old regime cells to compare: HRA received, rent paid, LTA, professional tax, 80C, own NPS, 80D for you and your parents, home loan interest and other deductions. The new regime ignores these automatically.
- Read the result: the TOTAL TAX row shows both regimes, and the verdict tells you which one saves more and by how much. Change any input and the sheet updates.
Only change the yellow cells; every other cell is a formula, so you can see exactly how your tax is worked out. To start again, download a fresh copy.
Example: ₹15 Lakh Salary in the Excel
The sheet opens with this example: gross salary ₹15,00,000, Basic ₹6,00,000, HRA and rent ₹2,40,000 each in Bengaluru, 80C ₹1,50,000, 80D ₹25,000, professional tax ₹2,500.
| Item | New regime | Old regime |
|---|---|---|
| HRA exemption | Not allowed | ₹1,80,000 |
| Standard deduction | ₹75,000 | ₹50,000 |
| Deductions (80C, 80D, professional tax) | Not allowed | ₹1,77,500 |
| Taxable income | ₹14,25,000 | ₹10,92,500 |
| Tax on slabs | ₹93,750 | ₹1,40,250 |
| Cess 4% | ₹3,750 | ₹5,610 |
| Total tax | ₹97,500 | ₹1,45,860 |
| Tax a month | ₹8,125 | ₹12,155 |
The new regime saves ₹48,360 here. The old regime would need more than about ₹5.44 lakh of exemptions and deductions (excluding the standard deduction) to win at this salary. For more worked cases, read how to calculate income tax on salary with examples.
Income Tax Slabs Used in the Excel (FY 2026-27)
Budget 2026 made no change to rates, so FY 2026-27 uses the same slabs as FY 2025-26.
| New regime (all ages) | Rate |
|---|---|
| Up to ₹4,00,000 | Nil |
| ₹4,00,001 to ₹8,00,000 | 5% |
| ₹8,00,001 to ₹12,00,000 | 10% |
| ₹12,00,001 to ₹16,00,000 | 15% |
| ₹16,00,001 to ₹20,00,000 | 20% |
| ₹20,00,001 to ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
Old regime: nil up to ₹2.5 lakh (₹3 lakh at 60 to 79, ₹5 lakh at 80 and above), 5% up to ₹5 lakh, 20% up to ₹10 lakh and 30% above. Full details are in our income tax slabs FY 2026-27 guide.
Income Tax Calculation Formula in Excel
If you build your own sheet, these are the formulas this file uses. Each slab is stored as a starting amount and the increase in rate from that amount, so one SUMPRODUCT gives the slab tax:
For the new regime, From is 0, 4,00,000, 8,00,000 … 24,00,000 and RateStep is 0 then 5% each. Then the rebate with marginal relief:
And the final tax with cess, rounded to the nearest ₹10:
Taxable income itself is rounded to the nearest ₹10 with ROUND(x,-1). The Rates sheet shows every limit the formulas use.
How We Checked the Excel
The formulas were tested on 706 cases, from zero income to ₹8 crore, all ages, both years, with and without HRA, NPS and deductions, against a separate calculation written from the law. Every case matched to the rupee. It also matches widely published examples:
| Gross salary (no deductions) | New regime | Old regime |
|---|---|---|
| ₹12,75,000 | Nil | ₹1,87,200 |
| ₹13,00,000 | ₹26,000 | ₹1,95,000 |
| ₹15,00,000 | ₹97,500 | ₹2,57,400 |
| ₹20,00,000 | ₹1,92,400 | ₹4,13,400 |
| ₹51,50,000 (surcharge relief) | ₹12,01,200 | ₹14,69,000 |
The same logic runs our income tax calculator, so the Excel and the online tool always give the same answer. You can also cross-check with the Income Tax Department's own income tax calculator.
Excel or Online Calculator: Which Should You Use?
- Use the Excel to work offline, keep a record for your investment declaration or Form 12BB, try many what-if figures, or share with family or your payroll team.
- Use the online income tax calculator on a phone, or when you want the exact break-even deductions for the old regime worked out for you.
Related: HRA exemption calculator · professional tax calculator · salary breakup calculator · old vs new tax regime with examples
What the Excel Does Not Cover
- Capital gains and other special-rate income, income from a let-out house, and business or professional income.
- Relief for salary arrears (Section 89), and the ₹7.5 lakh cap on employer PF, NPS and superannuation contributions.
- Non-residents: the rebate and senior citizen slabs apply only to residents.
If any of these apply to you, use the sheet as a starting point and confirm with a tax adviser. The figures are estimates, not tax advice.
Frequently Asked Questions
Is this income tax calculator Excel free?
Yes. It is free to download and use, with no sign-up, no macros and no password on the sheets.
Does the Excel work for FY 2025-26 (AY 2026-27)?
Yes. Choose FY 2025-26 in the drop-down. The slabs are the same as FY 2026-27; only the HRA metro list changes (4 cities for FY 2025-26, 8 cities from FY 2026-27).
Does it include the ₹12 lakh rebate and ₹75,000 standard deduction?
Yes. In the new regime it applies the ₹75,000 standard deduction and the rebate of up to ₹60,000, so taxable income up to ₹12 lakh (₹12.75 lakh salary) pays nil tax, with marginal relief just above ₹12 lakh.
Can I calculate HRA exemption in this Excel?
Yes. Enter HRA received, rent paid, Basic + DA and your city. The sheet uses the least of HRA, rent minus 10% of Basic + DA, and 50% (metro) or 40% of Basic + DA. HRA is exempt only in the old regime.
Does it work in Google Sheets or on mobile?
It uses only standard functions (SUMPRODUCT, CHOOSE, MIN, MAX, IF, ROUND), and was tested in LibreOffice Calc; it is built for Microsoft Excel. On a phone, the online income tax calculator is easier to use.
Is it suitable for senior citizens?
Yes. Choose "60 to 79" or "80 or above". The old regime then uses the ₹3 lakh or ₹5 lakh exemption, 80TTB up to ₹50,000 on bank interest and the ₹50,000 80D limit.
Which is better for me, the old or new regime?
Enter your figures and read the verdict. For most salaried people the new regime is cheaper; the old regime wins only when HRA, 80C, 80D, NPS and home loan interest add up to a large amount, about ₹5.44 lakh at a ₹15 lakh salary.
Does the Excel calculate capital gains tax?
No. It covers salary, pension, interest and other normal-rate income. Capital gains are taxed at special rates and need a separate calculation.