Income Tax on ₹24 Lakh Salary (FY 2026-27)
For FY 2026-27 (AY 2027-28), the income tax on a ₹24 Lakh salary is ₹2,92,500 under the new regime for a salaried taxpayer with the ₹75,000 standard deduction. The old regime (no deductions) works out to ₹5,38,200. The new regime saves ₹2,45,700.
Last updated: 2026-06-03
New Regime (default)
₹2,92,500
Taxable after ₹75,000 standard deduction: ₹23,25,000
Old Regime (no deductions)
₹5,38,200
Lower if you claim 80C / 80D / HRA / home-loan interest
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Important: This calculator provides estimates based on the inputs and assumptions you provide. Results are mathematical projections, not financial advice or recommendations. Actual outcomes will vary based on market conditions, policy changes, individual circumstances, and factors not captured by this tool. Verify all figures independently and consult qualified professionals before making financial decisions.
Founding Partner, Tykhe Ventures · Founder, Kompella Technologies
Founding Partner at Tykhe Ventures ($20M AUM, early-stage investing) and Founder of Kompella Technologies, which provides fractional CTO/CPO services to funded startups. NISM XIX-C certified. Built RupayWise because the financial tools available in India were either oversimplified or designed to sell you a product — not help you decide.
Frequently Asked Questions — ₹24 Lakh Salary
How much income tax do I pay on a ₹24 Lakh salary in FY 2026-27?
On a ₹24 Lakh salary (FY 2026-27, AY 2027-28), a salaried taxpayer with only the standard deduction pays ₹2,92,500 under the new regime and ₹5,38,200 under the old regime (no other deductions). The new regime gives a ₹75,000 standard deduction plus a ₹60,000 Section 87A rebate that makes income up to ₹12 lakh tax-free.
Is a ₹24 Lakh salary taxable under the new regime?
Yes. After the ₹75,000 standard deduction your taxable income is ₹23,25,000, above the ₹12 lakh rebate limit. Slab tax is ₹2,81,250 plus ₹11,250 of 4% health & education cess.
Old or new regime — which is better for a ₹24 Lakh salary?
For a ₹24 Lakh salary with no deductions, the new regime is lower: ₹2,92,500 vs ₹5,38,200, a saving of ₹2,45,700. The old regime can overtake only with large deductions — use the calculator with your actual 80C/80D/HRA figures.
Does a ₹24 Lakh salary attract surcharge?
No. Surcharge applies only above ₹50 lakh total income, so a ₹24 Lakh salary has none — just the 4% health & education cess on tax.
Income Tax on Other Salaries
Related Resources
Calculators
- Tax Regime — Old vs New tax regime — see which saves more with all deductions: 80C, 80D, HRA, NPS & more.
- Salary Calculator — Convert your CTC to monthly in-hand salary. Compare old vs new tax regime side-by-side with HRA, EPF, professional tax, and 80C/80D savings.
- HRA — Calculate HRA tax exemption under Section 10(13A). See all 3 rules and find your maximum tax-free allowance.
Disclaimer
Figures are for a salaried individual with only the standard deduction under FY 2026-27 (AY 2027-28) rules, computed by RupayWise's tested tax engine. Your actual tax depends on your deductions (80C, 80D, HRA, home-loan interest, NPS), other income and capital gains — enter them in the calculator above. Educational information, not tax advice; consult a chartered accountant for your situation.