Are you unsure whether the Old Tax Regime or the New Tax Regime is better for you? You’re not alone — with multiple deductions under the old regime and simplified slabs under the new regime, choosing the right tax structure can be tricky.
This interactive calculator is designed to help salaried individuals under the age of 60 visually compare their estimated tax liabilities under both regimes for Assessment Year 2024–25 (FY 2023–24).
Key features:
- ✅ Includes standard deduction (₹50,000) under both regimes
- ✅ Factors in popular deductions like 80C, 80D, 80TTA, and home loan interest (old regime only)
- ✅ Automatically applies Section 87A rebate based on eligibility
- ✅ Calculates 4% health & education cess
- ✅ Highlights which regime offers lower tax
🔎 Adjust the sliders to enter your income and deductions, and see your estimated tax instantly!
Income Tax Comparison (ITR-1)
For AY 2024-25 (FY 2023-24), Individual < 60 years. Standard Deduction of ₹50,000 (Old Regime), ₹75,000 (New Regime – AY 2025–26) assumed from Salary.
Tax Liability Comparison:
Disclaimer: This calculator is for illustrative and educational purposes only. Tax laws are subject to change. Consult a qualified tax professional for advice.