Income Tax Calculator - Old vs New Tax Regime
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Complete Tax Calculation
Total Income (Gross Income):₹10,00,000
Standard Deduction:-₹50,000
Net Taxable Income:₹9,50,000
Tax as per Slab:+₹52,500
Rebate (Section 87A):NOT APPLICABLE
Surcharge (0%):NOT APPLICABLE
Health & Education Cess (4%):+₹2,100
Total Tax:₹54,600
Net Income (after tax):₹9,45,400
No separate slab benefits for senior (60+) or super senior citizens (80+).
| Slab Range (₹) | Rate (%) | Income (₹) | Tax (₹) |
|---|---|---|---|
| ₹0 - ₹3,00,000 | 0% | ₹3,00,000 | ₹0 |
| ₹3,00,001 - ₹6,00,000 | 5% | ₹2,99,999 | ₹15,000 |
| ₹6,00,001 - ₹9,00,000 | 10% | ₹2,99,999 | ₹30,000 |
| ₹9,00,001 - ₹12,00,000 | 15% | ₹49,999 | ₹7,500 |
| ₹12,00,001 - ₹15,00,000 | 20% | 0 | 0 |
| ₹15,00,001 - ∞ | 30% | 0 | 0 |
Surcharge Rates
| Income Exceeds | Surcharge Rate | Surcharge Amount (₹) |
|---|---|---|
| ₹50,00,000 - ₹1,00,00,000 | 10% | NOT APPLICABLE |
| ₹1,00,00,001 - ₹2,00,00,000 | 15% | NOT APPLICABLE |
| ₹2,00,00,001 and above | 25% | NOT APPLICABLE |
Key Features / Insights
- The New Tax Regime is the default option unless the old regime is specifically opted for.
- No separate slab benefits for senior (60+) or super senior citizens (80+).
- Income is taxed in six slabs, starting from ₹3L to above ₹15L, with lower rates compared to the old regime.
- Thanks to Section 87A rebate, individuals with income up to ₹7,00,000 pay zero tax.
- ₹50,000 standard deduction is now available for salaried individuals and pensioners.
- Most exemptions/deductions (like 80C, 80D, HRA, LTA) are not allowed, except a few (e.g., NPS employer contribution, standard deduction, EPF interest).
- Surcharge capped at 25% even for income above ₹5 crore (Old regime charges 37%).
- Ideal for individuals with no major investments or deductions – simpler tax filing process.
Disclaimer: This calculator is for informational purposes only. Tax laws are subject to change, and individual circumstances may vary. The results provided are estimates and should not be considered as final tax advice. Please consult a qualified tax professional or refer to the official Income Tax Department website for the most accurate and up-to-date information before filing your return.