Income Tax on ₹30 Lakh Salary
Detailed tax computation for a ₹30 LPA salary in FY 2026-27.
EPF, ELSS, PPF, LIC
About the Income Tax on ₹30 Lakh Salary
The Income Tax on ₹30 Lakh Salary computes your income tax liability for FY 2026-27 (AY 2027-28) under both the old and new tax regimes as per the latest Finance Act. Indian taxpayers face a binary choice every year — the new regime offers lower slab rates with almost no deductions, while the old regime rewards aggressive 80C, 80D, HRA and home-loan-interest claims. This tool quantifies the difference so you can elect the regime that minimises your outflow.
How the Income Tax on ₹30 Lakh Salary works
- Enter your gross annual salary, other income (interest, capital gains, rent), and eligible deductions.
- The calculator applies the FY 2026-27 slab structure for both regimes, including standard deduction (₹75,000 new / ₹50,000 old) and Section 87A rebate.
- It adds Health & Education Cess of 4% and any applicable surcharge for income above ₹50L.
- Final output shows net tax payable under each regime and the optimal choice.
Inputs explained
Formula
Tax = Σ (slab_amount × slab_rate) − rebate_87A + cess(4%) + surcharge New regime FY 26-27 slabs: 0-4L: nil • 4-8L: 5% • 8-12L: 10% • 12-16L: 15% • 16-20L: 20% • 20-24L: 25% • >24L: 30%.
Worked example
For a salary of ₹30.00 L with ₹1.5L in 80C, ₹25k in 80D and ₹2L home-loan interest, the old regime usually wins below ~₹12 LPA, while the new regime is typically better above ₹15 LPA unless you can claim large HRA + home-loan deductions.
India-specific notes
- •From FY 2025-26, the new regime is the default — you must explicitly opt out to use the old regime.
- •Section 87A rebate makes income up to ₹12 lakh effectively tax-free under the new regime (Budget 2025).
- •Surcharge: 10% above ₹50L, 15% above ₹1Cr, 25% above ₹2Cr (new regime caps at 25%); 37% above ₹5Cr is removed in the new regime.
- •Salaried individuals can switch regimes every year; business income holders can switch only once in a lifetime.
Tips to maximise this calculator
- →Max out NPS 80CCD(1B) for an extra ₹50k deduction — available even in some new-regime scenarios via employer contribution.
- →If you rent in a metro and have a high HRA component, the old regime almost always wins.
- →Re-run the calculation in March before submitting investment proofs to your employer.
Common mistakes to avoid
- ✕Assuming the new regime is always better — for salaries ₹10-15L with high deductions, the old regime can save ₹40k-₹80k.
- ✕Forgetting to add interest income from FDs and savings accounts.
- ✕Claiming HRA without rent receipts above ₹1L/year (PAN of landlord mandatory).
Glossary
- TDS
- Tax Deducted at Source — withheld by your employer or bank and remitted to the government.
- Cess
- A 4% Health & Education Cess applied on top of base tax liability.
- Rebate 87A
- Full tax waiver for incomes below the prescribed limit (₹12L under new regime in FY 25-26 onward).
- Standard deduction
- Flat reduction from salary income — ₹75k under new regime, ₹50k under old.
Frequently asked questions
Is the Income Tax on ₹30 Lakh Salary free to use?
Yes. The Income Tax on ₹30 Lakh Salary is free, runs in your browser and never stores personal data.
Are the assumptions India-specific?
Yes. We use INR, Indian inflation and India-specific rates (PPF, EPF, FY 2026-27 tax slabs where applicable).
Is this investment advice?
No. This tool is for education. Consult a SEBI registered advisor before investing.