Income Tax Calculation for ₹75 Lakh Income
| Slab | Rate | Tax |
| ₹0 – ₹4 Lakh | Nil | ₹0 |
| ₹4 Lakh – ₹8 Lakh | 5% | ₹20,000 |
| ₹8 Lakh – ₹12 Lakh | 10% | ₹40,000 |
| ₹12 Lakh – ₹16 Lakh | 15% | ₹60,000 |
| ₹16 Lakh – ₹20 Lakh | 20% | ₹80,000 |
| ₹20 Lakh – ₹24 Lakh | 25% | ₹1,00,000 |
| ₹24 Lakh – ₹75 Lakh | 30% | ₹15,30,000 |
| Total Tax (A) | ₹18,30,000 | |
| Surcharge (B) = 10% of (A) | ₹1,83,000 | |
| [Tax + Surcharge] (C) = [A + B] | ₹20,13,000 | |
| Health & Education Cess (D) = 4% of C | ₹80,520 | |
| Total Tax Liability [(E) = C + D] | ₹20,93,520 |
| Effective Tax Rate | 27.91% |
Note: Calculation assumes ₹75 lakh taxable income under the new tax regime for AY 2026–27, with no deductions/exemptions considered. Actual tax may vary based on income type, deductions, rebate, surcharge, and other applicable rules
Radhika Goyal is Author of Taxconcept Gurugram head office, for deeply reported tax, gst and income tax articles on issues that matter. He splits her time between New Delhi and Bengaluru, and has worked as a reporter, a podcaster and an editor for publications across India.