New vs Old Regime Tax Calculator

Calculate and compare your tax liability in New vs Old Tax Regime

Particulars

Annual Income (All figures in INR)

Basic Salary
House Rent Allowance
Other Allowances + Reimbursements

Total Gross Salary Income


Calculation of Taxable Income & Tax

Tax under Old Regime

Tax under New Regime

Gross Salary Income
Less: HRA Exemption
Annual Rent Paid
Less: Estimated Exemptions(Reimbursements)*
Less: Standard Deduction
Less: Profession Tax

Income from Salary

Less: Home Loan Interest (self-occupied)

Gross Total Income

Deduction Under Chapter VIA

80C EPF/Insurance/ ELSS/ NSC/ PPF/ HomeLoan
80D Medical Insurance & Expenses (Self & Parents)
80G Donation
80CCD(1) Employer NPS
80CCD(2) Employee NPS

Total Taxable Income

Tax on Total Income
Less: Rebate U/s 87A
Less: Relief
Net Tax
Add: Cess

Total Tax Payable


Recommendation:

*Notes:
1. Under New Regime only LTA & Conveyance/Petrol Allowace can be claimed as exemption based on actual proof submissions.

Disclaimer: This calculator is prepared for educational purposes to estimate the taxes under old and new tax regimes. No one shall refer to it as an ultimate tax decision and shall take the help of tax advisors to take appropriate decisions.

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