Online tax calculator old vs new regime

Compare income tax liability under old and new tax regimes with this free online calculator. Input income and deductions to see which regime saves you more.

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About This Tool

This comprehensive online tax calculator helps you compare your income tax liability under India's old and new tax regimes. Simply enter your annual income, age, deductions (like HRA, 80C, 80D), and other details. The tool calculates tax under both regimes using current tax slabs and rules for FY 2023-24, showing you which regime results in lower tax payable. It includes detailed breakdowns of tax calculations, deductions considered, and clear visual comparisons to help with tax planning decisions.

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How to Use

Enter your annual income in the 'Gross Annual Income' field.
Select your age group (below 60, 60-80, or above
.
Input any applicable deductions under the old regime (HRA, Section 80C, 80D, etc.).
Choose whether to include standard deduction (available in both regimes).
Click 'Calculate Tax' to see detailed comparison between old and new tax regimes.
Review the results showing tax amounts, effective tax rates, and which regime saves you more.

Frequently Asked Questions

Find Quick Answers

What's the difference between old and new tax regimes?

The old regime allows various deductions and exemptions (like HRA, 80C, 80D) but has higher tax rates. The new regime has lower tax rates but eliminates most deductions except standard deduction.

Which regime should I choose?

It depends on your income level and available deductions. Generally, if your total deductions exceed ₹2.5 lakhs, the old regime might be better. This calculator helps you compare both options.

Are the tax slabs up to date?

Yes, this calculator uses the latest tax slabs and rules for the Financial Year 2023-24 (Assessment Year 2024-25).

Can I use this for business income?

This calculator is designed for salary income and other income types that follow the same tax slabs. For complex business income with different provisions, consult a tax professional.

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