📋 Old vs New Tax
Compare your tax liability under both regimes
💰 Gross income
₹12.5L
🏛️ Old tax
₹1.2L
🆕 New tax
₹1.0L
🏆 Better
New
New Tax Regime Slabs
| Income range (₹) | Tax rate |
|---|---|
| 0 – 4,00,000 | Nil |
| 4,00,001 – 8,00,000 | 5% |
| 8,00,001 – 12,00,000 | 10% |
| 12,00,001 – 16,00,000 | 15% |
| 16,00,001 – 20,00,000 | 20% |
| 20,00,001 – 24,00,000 | 25% |
| Above 24,00,000 | 30% |
* Standard deduction of ₹75,000 already applied. Rebate under Section 87A available for income up to ₹12,00,000 (after standard deduction).
Your income & deductions
New regime wins
🏛️ Old regime tax₹1,20,000
🆕 New regime tax₹1,00,000
📊 Difference-₹20,000
📉 Taxable income (old)₹10,00,000
💡 Insight: New regime saves you ₹20,000. Your deductions are moderate.
Tax comparison
⚡ Gold bar: old regime · 🔵 Blue bar: new regime
Tax at different incomes
🏛️ old (gold) · 🆕 new (blue) · 0.5x to 1.5x your income
Your tax scenario
- Gross income: ₹12,50,000 (salary ₹12L + other ₹50k).
- Old regime deductions: ₹2,25,000 (80C ₹1.5L, 80D ₹25k, NPS ₹50k).
- Taxable (old): ₹10,25,000 → tax ₹1,20,000.
- New regime (std ded ₹75k): taxable ₹11,75,000 → tax ₹1,00,000.
- Winner: New regime saves ₹20,000.
- 💡 Takeaway: With moderate deductions, new regime is better. Compare with Income Wallet.
Best practices
- New regime is default: With ₹4L nil slab and ₹75k standard deduction, income up to ₹12.75L can be tax‑free (after rebate).
- Old regime still works if you have high deductions: 80C, 80D, HRA, home loan interest. Aim for deductions > ₹3.5‑4L to beat new regime.
- HRA just got bigger: Bengaluru, Pune, Hyderabad, Ahmedabad now qualify for 50% HRA (vs 40% earlier).
- NPS extra deduction: Under 80CCD(1B), you can claim up to ₹50,000 over 80C.
- Tax‑gain harvesting: Book LTCG up to ₹1.25L tax‑free each year.
- EEE investments: PPF (7.1%), EPF (8.25%), SSY (8.2%) remain attractive in old regime. Use Investment Wallet.
- Surcharge: Above ₹50L, new regime caps surcharge at 25% vs 37% in old – big saving for high earners.
Frequently asked questions
🏛️ Regime basics
Which regime saves me more? +
Based on your inputs, new regime saves you ₹20,000. Your old regime tax is ₹1.2L, new regime tax is ₹1.0L. Use the Income Wallet to track your actual income.
What is my taxable income under old regime? +
Your gross income ₹12.5L minus deductions ₹2.25L = ₹10.25L. For a detailed breakdown, see the Expenses Wallet.
💰 Deductions & exemptions
How much HRA can I claim? +
You’ve set HRA at ₹0. If you live in a metro (incl. BLR, PUN, HYD, AMD), you can claim up to 50% of salary. Calculate your exact HRA with the Rent vs Buy Simulator.
What is the benefit of NPS? +
NPS under 80CCD(1B) gives an extra deduction of ₹50,000 over 80C, saving up to ₹15,600 tax. Track your NPS in the Investment Wallet.
🆕 New regime details
What is the standard deduction in new regime? +
₹75,000 for current slabs. Your taxable income after std ded is ₹11.75L. For comparison, see the Professional Life Stage.
Can I claim 80C in new regime? +
No, only standard deduction is allowed. All other deductions (80C, 80D, HRA, etc.) are not available. Plan your investments accordingly with the SIP vs Lumpsum Simulator.
📈 Advanced planning
What is the rebate under Section 87A? +
In new regime, if taxable income ≤ ₹12L, you get a rebate of up to ₹60,000, making tax nil. Your taxable income is ₹11.75L – you may be eligible for partial rebate. Use the Old vs New Tax Simulator to check.
How does surcharge apply? +
Above ₹50L, new regime surcharge is 25% vs old regime 37%. For high incomes, this favours new regime. Plan your finances with the Wealth Wallet.
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