Income Tax Calculator

Gross Salary

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Income from Savings account

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Income from Other sources

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Income from House Property

- Standard deduction
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Entertainment allowance

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Professional tax

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HRA Exemption

Gross total income in Old Regime (0 + 0 + 0 + 0 - 50000 - 0 - 0 - 0 ) = ₹0.00

Gross total income in New Regime (0 + 0 + 0 - 75000 + 0 ) = ₹0.00

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Deductions under 80C

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Deductions under 80D

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Deductions under 80TTA

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Deductions under 80CCD(1B)

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Deductions under 80CCD(2)

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Other Deductions: 80CCF, 80G, 80E, etc.

Net taxable income in Old Regime (0 - 0 - 0 - 0 - 0 - 0 - 0 ) = ₹0.00

Net taxable income in New Regime (0 - 0 ) = ₹0.00

Disclaimer: This tax calculator works under certain assumptions. Thus, your actual tax liability may be different. Readers are advised to seek appropriate professional advice.

Income Tax Slabs

Tax Slabs	Old Rate	New Rate
Upto ₹ 2.5 Lakhs	0%	0%
₹ 2.5 Lakhs - ₹ 3 Lakhs	5%	0%
₹ 3 Lakhs - ₹ 5 Lakhs	5%	5%
₹ 5 Lakhs - ₹ 7 Lakhs	20%	5%
₹ 7 Lakhs - ₹ 10 Lakhs	20%	10%
₹ 10 Lakhs - ₹ 12 Lakhs	30%	15%
₹ 12 Lakhs - ₹ 15 Lakhs	30%	20%
> ₹ 15 Lakhs	30%	30%

Around 70 exemptions and deductions would be removed under the new simplified income tax regime which inlcudes, but is not limited to:
House Rent Allowance

Leave Travel Concession

Deduction of professional tax

Deduction u/s 80C (life insurance etc.)

80CCD(1B) (your contribution to NPS up to INR 50,000)

80D (Medical insurance)

80E (interest on education loan) etc.

Note: 80CCD(2) (Employer's contribution to NPS) exemption is applicable for both regimes. However, you get more deduction in new regime (14%) compared to old regime (10%)

View Source Code

Tax in Old regime (including cess)		Tax in New regime (including cess)		Savings
₹0	-	₹0	=	₹0