New vs Old Tax Regime calculator (Budget 2024)
Compare New vs Old Tax Regime under Budget 2024. Calculate standard deduction ₹75,000, 80C, 80D and find which tax regime saves you more. Free.
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About this tool
Compare your tax under the revised New Tax Regime with ₹75,000 standard deduction against the Old Tax Regime with 80C, 80D and HRA deductions.
How to use it
- 1 Enter your annual gross salary or Cost to Company (CTC).
- 2 Input Old Regime deductions (Section 80C up to ₹1.5L, 80D Mediclaim, HRA exemption, and home loan interest).
- 3 Compare side-by-side tax liability and see which tax regime saves you more money.
Questions
Is New Tax Regime better for 12 Lakh salary?
For a ₹12 Lakh salary with typical deductions under ₹3.75 Lakh, the New Regime usually offers lower tax and higher take-home pay.
What is the standard deduction in Budget 2024 for salaried employees?
The Union Budget 2024 increased the standard deduction under the New Tax Regime from ₹50,000 to ₹75,000 for salaried taxpayers.
At what salary is income tax zero under the New Regime?
With the revised slabs and Section 87A tax rebate, salaried employees earning up to ₹7,75,000 pay zero income tax under the New Tax Regime.
Which tax regime is better for salaried individuals?
If your total eligible deductions (80C, 80D, HRA, home loan interest) exceed ₹3.75 Lakh to ₹4 Lakh, the Old Regime may save tax; otherwise, the New Regime is generally more beneficial.
Is my data uploaded?
No. This tool runs in your browser, so your text and files never reach our server.
Is this tool free?
Yes. It’s free to use with no sign-up and no limits for normal use.
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