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Old Vs New Tax Regime calculator

Should you stay in the old tax regime or switch to the new tax regime? Use the Old Vs New Tax Regime calculator to find out.

Particulars Old Regime New Regime
Click here to know how much to save for which exemption
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Tax Slab
Old Regime New Regime
Upto 2.5 Lakhs 0 Upto 3 Lakhs 0
2.5 Lakhs upto 5 Lakhs 5% 3 Lakhs upto 7 Lakhs 5%
5 Lakhs upto 10 Lakhs 20% 7 Lakhs upto 10 Lakhs 10%
Above 10 Lakhs 30% 10 Lakhs upto 12 Lakhs 15%
  12 Lakhs upto 15 Lakhs 20%
  15 Lakhs and above 30%
Exemptions
Section Products included for exemptions Limit
80C Employee's share of PF contribution Rs. 1,50,000
Voluntary Provident Fund
Public Provident Fund
Children's Tuition Fees
National Savings Certificate
5 Year Fixed Deposit
Senior Citizen Savings Scheme
Unit Linked Investment Plan
Sukanya Samriddhi Scheme
Life Insurance Premium Payment
Annuity Plans
80CCD1 Employee’s contribution to NPS account (maximum up to Rs 1,50,000)
80CCD(2) Employer’s contribution to NPS account Max 10% of Basic
80CCD 1B Employees additional contribution to NPS Rs.50,000
80TTA(1) Interest Income from Savings account Rs.10,000
80E Interest on education loan Full Interest
80EE Interest on home loan for first time home owners Rs.50,000
80GG For rent paid when HRA is not received from employer Not Applicable
80D Medical Insurance – Self, spouse, children
Medical Insurance – Parents more than 60 years old or (from FY 2015-16) uninsured parents more than 80 years old
– Rs. 25,000
– Rs. 50,000
24 Home Loan Interest Rs.2,00,000
80G Donations towards Social causes varies from 50 % to 100%

Disclaimer: You clearly understand that the purpose of the calculator is to clarify the tax calculated between old and the new tax regime.You are adviced to consult your tax consultant / Chartered Account. While, every care has been taken in preparing the Training Materials and the Documentation to ensure accuracy at the time of publication and creation, however, the Licensor assumes no responsibility for any errors, which may arise The training material is supplied for your private information and education only. You are strictly prohibited from altering, copying or commercially distributing the same.