#

Does the new Tax Regime make sense for you ?

Fill in the details below to find out

Which calculator version do you want to use ?

I know all my applicable tax deductions ( like HRA, 80C, 80D etc ) and just want to calculate my taxes

I need help figuring out exact tax deductions ( 80C limits, HRA limits etc.) to optimize my taxes.

Enter Gross Income *
This is your total income
Enter Gross Income *
House Rent Allowance you receive ( only for salaried )
Enter Gross Income *
Standard Deduction is Rs 50,000 for salaried employees
Enter Gross Income *
Section 80C covers investments like fixed deposits, insurance premiums, LIC premium, ELSS mutual funds, PPF etc
Enter Gross Income *
National Pension Scheme investments upto Rs 50,000 are tax-exempt under the old system
Enter Gross Income *
Health Insurance Policies of upto Rs 75000 ( 25000 for self and 50000 for senior citizen parents )
Enter Gross Income *
Home Loan Interest upto Rs 2 Lac is tax-exempt under section 24
Enter Gross Income *
Sum of all deductions explained above
Enter Correct Name *
Enter correct Mobile Number*
Do you want us to call you to explain how insurance can help you save on taxes ?
  • Basic Details

    Enter Gross Income *
    This is your total income
    Enter your age*
    Different age groups have different tax slabs.
  • Exempt Allowances ( HRA / Standard deduction )

    Enter your age*
    Calculate HRA exemption
    Enter your age*
    Standard deduction of Rs 50000 for salaried.
    Enter any other exemptions*
    Any other exemptions applicable for you.
  • 80C Deductions ( Investments )

    Enter EPF & VPF Contribution*
    Enter Public Provident Fund (PPF)*
    Enter Tax Saving Fixed Deposit*
    Enter E.L.S.S (Tax Saving Mutual Fund)
    Enter Life Insurance Premiums*
    Enter Home Loan (Principal Repayment)*
    Enter Any other 80C deduction*
  • NPS & Health Insurance Premiums

    Enter any other exemptions*
    National Pension Scheme investments upto Rs 50,000 are tax-exempt under the old system
    Enter any other exemptions*
    Enter any other exemptions*
    Are your parents over 60 years of age
  • Deductions on Interest for Loans taken

    Enter Deduction on Education Loan ( Section 80E)*
    Only Interest paid on education loan is tax-exempt.
    Enter Deduction on Home Loan Interest ( Section 24)*
    Home Loan Interest upto Rs 2 Lac is tax-exempt under section 24
    Enter Any other deductions*
    Any deductions not mentioned above applicable for you
Enter Gross Income *
Sum of all deductions explained above
Enter Correct Name *
Enter correct Mobile Number*
Do you want us to call you to explain how insurance can help you save on taxes?
TAX REGIME OLD NEW
Net Taxable Income 1000000 1,600,00
Tax Rebate 1000000 1,600,00
Total Tax Payable 112,500 217,500
Tax Surcharge 0 0
Add: Edn Cess + Health Cess @ 4% 4,500 8,700

OLD TAX REGIME

  • Net Taxable Income 1000000
  • Tax Rebate 112,500
  • Total Tax Payable 112,500
  • Tax Surcharge 0
  • Add: Edn Cess + Health Cess @ 4% 4,500
  • Net Tax Payable 117,000

NEW TAX REGIME

  • Net Taxable Income 1000000
  • Tax Rebate 112,500
  • Total Tax Payable 112,500
  • Tax Surcharge 0
  • Add: Edn Cess + Health Cess @ 4% 4,500
  • Net Tax Payable 226,200
This Calculation is for educational and indicative purposes only. Please consult your tax advisor before taking any financial decisions.
gotop