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Taxation Tool

Tax Regime Comparison

Compare your tax liability under the Old and New Income Tax regimes for FY 2024-25 (AY 2025-26).

Inputs & Parameters

Taxation

Total yearly income excluding deductions

₹

Old Regime Deductions

Investment in PPF, ELSS, LIC, etc.

₹

Health insurance premiums

₹

HRA, LTA, Interest on Home Loan, etc.

₹

Notice

New Regime standard deduction of ₹75,000 is automatically applied in calculations.

Recommended Choice

New Regime is cheaper!

You save ₹40,300 annually by choosing this regime.

Old RegimeWith Deductions

Net Taxable₹9,75,000
Total Tax Liability₹1,11,800

Includes 4% Health & Education Cess

New RegimeStandardised

Exemptions AllowedNone
Total Tax Liability₹71,500

Based on Union Budget 2024 slabs

Key Differences

• Old Regime: Higher tax rates but allows exemptions like HRA, LTA, 80C, 80D, and Home Loan interest.

• New Regime: Much lower tax rates but no exemptions allowed except Standard Deduction.

• Standard Deduction: Increased to ₹75,000 for New Regime (Budget 2024).

• Full Rebate: No tax up to ₹7,00,000 annual income in New Regime.

The New Regime is now the default tax regime in India since FY 2023-24. If you have high deductions (Home loan + 80C + Insurance), Old regime might still be better.