Income & Deductions
₹
₹0₹25L₹5Cr+
Tax Deductions (Old Regime)
Standard Deduction: ₹50,000 (Auto-applied)Adjust sliders to see how investments reduce your taxable income under the Old Regime.
₹1,50,000
₹0Max ₹1.5L
₹25,000
₹0Self+Parents ₹1L max
HRA, Sec 24(b) Home Loan Int., 80CCD(1B), etc.
₹
₹0₹20L
Tax Regime Comparison
🏆 New Regime is better for you!
New Regime
(Default)
Total Tax
₹0
Old Regime
(With Deductions)
Total Tax
₹0
Income Breakdown (New Regime)
Take Home
100%
Net Taxable Income
₹12,00,000
In Hand Income
₹12,00,000
📊 Detailed Tax Calculation
A side-by-side breakdown of how your tax is calculated under both regimes.
❓ Top 10 Tax Planning FAQs
Everything you need to know about the Old vs. New Tax Regimes (Updated FY 24-25).
For FY 2024-25, the standard deduction under the New Tax Regime has been increased to ₹75,000 for salaried individuals and pensioners. In the Old Regime, it remains at ₹50,000.
Under the New Tax Regime (FY 2024-25), income up to ₹7,00,000 is effectively tax-free due to the Section 87A rebate. If you include the standard deduction of ₹75,000, a salaried person earning up to ₹7,75,000 pays zero tax.
The New Tax Regime is now the default tax regime. If you do not explicitly inform your employer or select the Old Regime while filing your ITR, your taxes will be calculated as per the New Regime.
No. Most major deductions, including Section 80C (EPF, PPF, ELSS Mutual Funds, LIC), Section 80D (Health Insurance), and HRA are NOT allowed under the New Tax Regime. You must opt for the Old Regime to claim these.
The Old Regime is generally better if you have significant eligible deductions. For example, if you claim the full ₹1.5 Lakh under 80C, pay high health insurance premiums (80D), and claim HRA or Home Loan Interest (Sec 24b), the Old Regime might result in lower total tax. Use our calculator to compare.
Yes, individuals with salaried income (and no business income) can choose between the Old and New Regimes every year when filing their Income Tax Return (ITR). However, individuals with business income get only one chance to switch back to the Old Regime.
Yes! Section 80CCD(2) — which covers the employer's contribution to your NPS account (up to 10% of Basic Salary for private sector, 14% for govt) — is one of the few deductions allowed under BOTH the Old and New Tax Regimes.
It depends on your deductions. Generally, if your total deductions (80C, 80D, HRA, etc.) are over ₹3.75 Lakhs to ₹4 Lakhs for an income of ₹10 Lakhs+, the Old Regime usually wins. If your deductions are minimal (less than ₹1.5L), the New Regime is almost always better.
In the Old Tax Regime, the basic exemption limit differs by age (₹2.5L for below 60, ₹3L for 60-80 yrs, ₹5L for >80 yrs). However, in the New Tax Regime, the tax slabs and exemption limits are exactly the same for all age groups.
If you opt for the Old Regime, investing in ELSS (Equity Linked Savings Scheme) Mutual Funds is one of the best ways to claim up to ₹1.5 Lakhs under Sec 80C. ELSS has the shortest lock-in period (3 years) among 80C options and offers potential for equity-linked wealth creation. Sanchay Karo helps you start ELSS SIPs entirely paperless online.
