The Old vs New Tax Regime Calculator helps users compare tax liabilities under India’s Old Tax Regime and New Tax Regime. It calculates tax based on income, deductions, exemptions, and financial year selections.
Income Tax Calculator
(Old vs New Tax Regime Calculator)
| Head | Details/ Amt. |
|---|---|
| Gross Income | |
| Exemptions u/s 10 A (HRA etc.) | |
| Professional Tax | |
| Net Income under Salaries | 0.00 |
| Standard Deduction (Auto Applied) | 50000 |
| Deductions u/s 80 C (PF, PPF, Ins, ELSS, NPS: Max Rs.150000) | |
| Deductions u/s 80 CCD (NPS: Max Rs. 50000/-) | |
| Deductions u/s 80 D (Health Insurance: Max Rs. 35000/-) | |
| Deductions u/s 80 G (Eligible Donations) | |
| Deductions u/s 80 E (Education Loan Interest) | |
| Deductions u/s 80 TTA (FD/Post Office Interest: Max Rs. 40000/-) | |
| Tax Benefit u/s 24 (Home Loan Interest Paid: Max Rs. 200000/-) | |
| Total Deductions/Benefits | 0.00 |
How to Use the Calculator
Step 1: Enter Basic Details
- Gross Income (₹)
- Enter your annual gross salary/income (before deductions).
- Example: ₹12,00,000
- Payee Type
- Select your category:
- Male
- Female
- Senior Citizen (60+ years)
- Very Senior Citizen (80+ years)
- Select your category:
- Financial Year (FY)
- Select the applicable year (2022-23 to 2025-26).
Step 2: Add Exemptions & Deductions
| Field | Description | Max Limit (₹) |
|---|---|---|
| Exemptions u/s 10A (HRA, etc.) | HRA, LTA, etc. | No limit |
| Professional Tax | Deducted from salary | Varies by state |
| Deductions u/s 80C | PF, PPF, ELSS, etc. | 1,50,000 |
| Deductions u/s 80CCD (NPS) | NPS contributions | 50,000 |
| Deductions u/s 80D (Health Insurance) | Medical premiums | 35,000 |
| Deductions u/s 80G (Donations) | Eligible donations | No limit |
| Deductions u/s 80E (Education Loan Interest) | Interest paid | No limit |
| Deductions u/s 80TTA (Interest Income) | Savings/FD interest | 40,000 |
| Tax Benefit u/s 24 (Home Loan Interest) | Home loan interest | 2,00,000 |
Note:
- The calculator auto-limits deductions (e.g., 80C won’t exceed ₹1.5 Lakhs).
- Standard Deduction (₹50,000, and ₹75,000 only for new tax regime w.e.f 2022-23) is applied automatically.
Step 3: Calculate Tax
Click “Calculate” to see:
- Taxable Income (after deductions)
- Tax Liability (Old vs. New Regime)
- Breakdown:
- Base Tax
- Surcharge (if income > ₹50 Lakhs)
- Cess (4%)
- Rebate (if eligible)
Example Output:
| Tax Component | Old Regime | New Regime |
|---|---|---|
| Taxable Income | ₹9,50,000 | ₹11,50,000 |
| Tax + Surcharge | ₹1,12,500 | ₹92,500 |
| Rebate (if applicable) | ₹12,500 | ₹25,000 |
| Total Tax (with Cess) | ₹1,04,000 | ₹70,200 |
Step 4: Reset & Recalculate
- Click “Reset” to clear all inputs.
- Modify values and click “Calculate” again for updated results.
Understanding the Results
Old Tax Regime Benefits:
- More deductions (HRA, 80C, 80D, etc.)
- Better for high-investment taxpayers
New Tax Regime Benefits:
- Lower tax rates (simplified structure)
- No need to track deductions
Which Regime is Better?
- New Regime: Better if deductions < ₹2-3 Lakhs
- New Regime: If income is below ₹1,275,000 with effect from the Assessment Year 2024-25 (not before that)
- Old Regime: Better if claiming large exemptions
Key Features:
- Compare Old vs. New Tax Regime liabilities
- Auto-calculates taxable income after deductions
- Supports different payee types (Male, Female, Senior Citizen, Very Senior Citizen)
- Works for financial years 2022-23 to 2025-26
- Includes all major deductions (80C, 80D, 24, etc.)
- Mobile-friendly design
Summary
This calculator helps you:
- Compare Old vs New Tax Regime Calculation
- Optimize deductions for maximum savings
- Plan finances for different FYs
Conclusion
Choosing between India’s Old vs New Tax Regime Calculator depends on your financial profile:
- Old Regime is better if you have:
> High deductions (HRA, 80C, 80D, home loan interest, etc.)
> Annual deductions exceeding ₹2–3 lakh - New Regime is ideal if you:
> Have minimal deductions
> Prefer lower tax rates and simpler filing> Filling for FY 2025-26 with salary up to ₹1,275,000/-.
Pro Tip: Use this calculator to compare both regimes side-by-side and pick the option that minimizes your tax liability. Regularly review your choices as tax laws evolve.
Start optimizing your taxes today!
For issues or suggestions, please comment below.
Frequently Asked Questions
Why is my tax liability different in Old vs. New Regime?
The Old Regime allows more deductions (like HRA, 80C, 80D), which reduces taxable income but has higher tax rates. The New Regime offers lower tax rates but fewer deductions. Your choice depends on which method results in lower tax after considering your investments and exemptions.
How is the tax rebate calculated under both regimes?
Old Regime: Up to ₹12,500 rebate if taxable income ≤ ₹5 lakh.
New Regime (FY 2023-24+): Up to ₹25,000 rebate if taxable income ≤ ₹7 lakh.
What happens if I exceed deduction limits like 80C?
The calculator automatically caps deductions at legal limits (e.g., ₹1.5 lakh for 80C). You’ll only get tax benefits up to the maximum allowed amount.
Which regime should I choose for maximum savings?
Choose Old Regime if: Your total deductions (HRA + 80C + 80D + others) exceed ₹2-3 lakh.
Choose New Regime if: You have minimal deductions (<₹2 lakh) or prefer simpler tax filing.
Does the calculator include cess and surcharge?
Yes! It calculates:
1. Health & Education Cess: 4% on total tax
2. Surcharge: 10% (income >₹50 lakh) or 15% (income >₹1 crore)