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TaxCompare
Side-by-side comparison of your tax liability under both regimes — instantly see which one saves you more.
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.
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.
Estimate monthly payments with taxes, insurance, and amortization.
OpenProperty price, down payment, tenure — EMI, processing fee, and stamp duty & registration.
OpenCompare loan terms and see total interest paid.
OpenProject growth from deposits and compounding interest.
OpenTax payable
$71,500
Tax payable
$106,600
What you entered
New regime — taxable income (after ₹75K standard deduction)
$1,200,000.00 − $75,000.00= $1,125,000.00New regime — tax (slabs: 0–3L nil, 3–7L 5%, 7–10L 10%, 10–12L 15%, 12–15L 20%, 15L+ 30%)
Slab-wise calculation= $68,750.00New regime — total (tax + 4% cess)
$68,750.00 + 4% cess= $71,500.00Old regime — taxable income (after ₹50K std deduction + deductions)
$1,200,000.00 − $50,000.00 − $150,000.00 − $50,000.00= $950,000.00Old regime — tax (slabs: 0–2.5L nil, 2.5–5L 5%, 5–10L 20%, 10L+ 30%)
Slab-wise calculation= $102,500.00Old regime — total (tax + 4% cess)
$102,500.00 + 4% cess= $106,600.00Better regime: new
Savings: $35,100.00= New regimeResult
Tax (new regime): $71,500
At $1,200,000 gross income, the new regime is better — you pay $71,500 in tax, saving $35,100 compared to the other regime. FY 2024-25 slabs, including 4% health and education cess.