TaxCompare

India Income Tax Calculator

Side-by-side comparison of your tax liability under both regimes — instantly see which one saves you more.

Gross annual income

Rs.

Section 80C deductions (old regime)

Rs.

Other deductions (old regime)

Rs.

New Regime

Better

Tax payable

Rs. 71,500

Taxable income: Rs. 11,25,000
Standard deduction: Rs. 75,000

Old Regime

Tax payable

Rs. 1,06,600

Taxable income: Rs. 9,50,000
Deductions claimed: Rs. 2,50,000

The new regime saves you Rs. 35,100 compared to the old regime.

What you entered

Gross income: Rs. 12,00,00080C deductions: Rs. 1,50,000Other deductions: Rs. 50,000

1
New regime — taxable income (after ₹75K standard deduction)
Rs. 12,00,000.00 − Rs. 75,000.00= Rs. 11,25,000.00
2
New regime — tax (slabs: 0–3L nil, 3–7L 5%, 7–10L 10%, 10–12L 15%, 12–15L 20%, 15L+ 30%)
Slab-wise calculation= Rs. 68,750.00
3
New regime — total (tax + 4% cess)
Rs. 68,750.00 + 4% cess= Rs. 71,500.00
4
Old regime — taxable income (after ₹50K std deduction + deductions)
Rs. 12,00,000.00 − Rs. 50,000.00 − Rs. 1,50,000.00 − Rs. 50,000.00= Rs. 9,50,000.00
5
Old regime — tax (slabs: 0–2.5L nil, 2.5–5L 5%, 5–10L 20%, 10L+ 30%)
Slab-wise calculation= Rs. 1,02,500.00
6
Old regime — total (tax + 4% cess)
Rs. 1,02,500.00 + 4% cess= Rs. 1,06,600.00
7
Better regime: new
Savings: Rs. 35,100.00= New regime

Result

Tax (new regime): Rs. 71,500

At Rs. 12,00,000 gross income, the new regime is better — you pay Rs. 71,500 in tax, saving Rs. 35,100 compared to the other regime. FY 2024-25 slabs, including 4% health and education cess.

New regime versus old regime tax by gross income

Each row compares total tax including 4% cess under both regimes for FY 2024-25, assuming Rs. 1,50,000 of 80C deductions and Rs. 50,000 of other deductions when computing the old regime.

Gross income	New regime tax	Old regime tax	Better regime	Saving
Rs. 5,00,000	Rs. 0	Rs. 0	either	Rs. 0
Rs. 7,00,000	Rs. 0	Rs. 0	either	Rs. 0
Rs. 9,00,000	Rs. 33,800	Rs. 44,200	new	Rs. 10,400
Rs. 12,00,000	Rs. 71,500	Rs. 1,06,600	new	Rs. 35,100
Rs. 15,00,000	Rs. 1,30,000	Rs. 1,95,000	new	Rs. 65,000
Rs. 20,00,000	Rs. 2,78,200	Rs. 3,51,000	new	Rs. 72,800
Rs. 30,00,000	Rs. 5,90,200	Rs. 6,63,000	new	Rs. 72,800

At the deduction levels assumed here the new regime wins at every income, and the advantage stops growing past about Rs. 20,00,000 because both regimes are in the 30% bracket by then and only the fixed differences remain. That conclusion is entirely a function of the assumption: the old regime becomes competitive when deductions are large, so someone claiming HRA, home loan interest under Section 24, full 80C, NPS under 80CCD(1B) and health premiums under 80D can flip the answer. Enter your own deduction figures rather than relying on this table. Slabs, the standard deduction and the rebate threshold change with each Budget, so confirm against the current year's rules. Illustrative only - not tax advice.

New regime is the default since FY 2023-24

The new tax regime is now the default — you're automatically on it unless you explicitly opt for the old regime. The new regime has lower slab rates but no deductions (except the ₹75,000 standard deduction), while the old regime has higher rates but allows 80C, HRA, and other deductions.

The breakeven depends on your deductions

If your total deductions (80C, HRA, home loan interest, NPS, medical insurance, etc.) are roughly ₹3.75 lakh or more, the old regime usually wins. Below that, the new regime's lower rates save more. This calculator does the comparison for you.

Frequently asked questions

New vs old tax regime — which should I choose?

Old regime wins if your total deductions exceed ~₹3.75 lakh (common for salaried with HRA + 80C + NPS + home loan). New regime wins if deductions are under ₹3.75 lakh (freelancers, those without HRA or home loan). Run both calculations with your numbers — the answer varies by individual.

What are the income tax slabs for FY 2024-25 new regime?

Up to ₹3 lakh: nil. ₹3-7 lakh: 5%. ₹7-10 lakh: 10%. ₹10-12 lakh: 15%. ₹12-15 lakh: 20%. Above ₹15 lakh: 30%. Plus 4% cess on total tax. Standard deduction: ₹75,000. Income up to ₹7.75 lakh is effectively tax-free after standard deduction and rebate under Section 87A.

What deductions are available under the old tax regime?

Section 80C: ₹1.5 lakh (PPF, ELSS, EPF, LIC, tuition fees). 80CCD(1B): ₹50,000 NPS. 80D: ₹25,000 health insurance (₹50,000 for seniors). HRA exemption. Home loan interest: ₹2 lakh under Section 24(b). Standard deduction: ₹50,000. Total possible deductions: ₹4-5+ lakh for many salaried employees.