Income Tax Calculator

Compare your tax liability under the Old vs. New Tax Regimes to find your best option.

Age affects tax slabs only in the Old Regime.

Deductions (for Old Regime)

Old vs. New Tax Regime: Key Differences

Old Tax Regime

This is the traditional regime. It has higher tax rates but allows you to claim over 70 deductions and exemptions, such as HRA, 80C (up to ₹1.5L), 80D (health insurance), 80E (education loan), and Section 24b (home loan interest). This regime is beneficial if you have significant investments and expenses to claim.

New Tax Regime (Default)

This regime was introduced to simplify the tax process. It offers lower, more streamlined tax slabs but removes most major deductions. As of FY 2023-24, it is the **default option** and includes a Standard Deduction of ₹50,000. It's often better for those with fewer deductions.

Which Regime is Better for You?

There is no single answer. It depends entirely on your income and your ability to claim deductions. Use this calculator to enter all your details, and the "You Saved" amount at the top of the results will instantly show you which regime is more beneficial for your specific case.

₹ 54,600

The **Old Regime** is better for you.

₹ 54,600

₹ 1,09,200

Taxable Income (Old) ₹ 7,00,000
Taxable Income (New) ₹ 9,10,000

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