Explanation
New tax regime slabs (default, AY 2026-27 / Tax Year 2026-27): Up to ₹4,00,000: 0%. ₹4,00,001–₹8,00,000: 5%. ₹8,00,001–₹12,00,000: 10%. ₹12,00,001–₹16,00,000: 15%. ₹16,00,001–₹20,00,000: 20%. ₹20,00,001–₹24,00,000: 25%. Above ₹24,00,000: 30%. A tax rebate under Section 87A (§141) of up to ₹60,000 makes tax nil for net taxable income up to ₹12,00,000 for most individuals. Plus standard deduction of ₹75,000 means salaried individuals with gross salary up to ₹12,75,000 pay zero tax. Surcharge applies to income > ₹50L. Verify on the income-tax portal before filing.