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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
  • 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.
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