Compare your income tax liability under the New Tax Regime vs Old Tax Regime and find out which one saves you more money.
| Income Slab | Tax Rate |
|---|---|
| Up to ₹4,00,000 | Nil |
| ₹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% |
Under Section 87A, individuals with taxable income up to ₹12,00,000 pay zero tax under the new regime (full rebate). Standard deduction of ₹75,000 applies for salaried individuals.
The New Tax Regime offers lower tax rates but doesn't allow most deductions (like 80C, HRA, home loan interest). The Old Tax Regime has higher slab rates but allows deductions that can significantly reduce your taxable income.
If you have limited investments/deductions (under ~₹2-2.5 lakh), the New Regime usually works out cheaper. If you claim substantial deductions through EPF, PPF, life insurance, home loan interest, and HRA, the Old Regime may still save you more.
Disclaimer: This calculator provides an estimate for planning purposes using standard slab rates and general assumptions. It does not account for all deduction categories, surcharge on very high incomes, or your specific tax situation. Please consult a Chartered Accountant or use the official Income Tax Department calculator for exact filing figures. This is not financial or tax advice.