⚖️ Income Tax Calculator
Old Regime vs New Regime (FY 2024-25). Compare your tax liability instantly and choose the regime that maximizes your take-home salary.
| Calculation Point | Old Regime | New Regime |
|---|---|---|
| Gross Income | ₹12,00,000 | ₹12,00,000 |
| Standard Deduction | -₹50,000 | -₹50,000 |
| HRA / Home Loan / 80C / Others | -₹1,75,000 | ₹0 (N/A) |
| Net Taxable Income | ₹9,75,000 | ₹11,50,000 |
| Computed Tax | ₹1,07,500 | ₹90,000 |
| Rebate (Sec 87A) | -₹0 | -₹0 |
| Health & Edu Cess (4%) | +₹4,300 | +₹3,600 |
Old Regime vs New Regime (FY 2024-25)
The New Regime (Default)
The government has made the New Tax Regime the default from FY23-24 onwards. It features lower tax slabs but completely removes almost all deductions like 80C, 80D, HRA, and Home Loan interest. However, for Salaried individuals, the ₹50,000 Standard Deduction is now allowed.
Major Benefit: Zero tax if Net Taxable Income is up to ₹7,00,000 (due to Sec 87A rebate).
The Old Regime
Features higher tax rates but allows you to claim all your traditional deductions. It is highly beneficial if you pay high rent (HRA), have a home loan, and fully exhaust your 80C limits.
Major Benefit: Zero tax if Net Taxable Income brings your income down to ₹5,00,000 (after all deductions) due to Sec 87A rebate.
When to choose which?
- If you don’t have many investments, rent receipts, or loans, the New Regime is almost universally better.
- If you have a high salary (above ~15L) and heavy deductions (2.5L+ via 80C, HRA, 80D, Home loan), the Old Regime might still save you more money.