Income tax calculator: old vs new regime

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Tax on salary and other income for a resident individual under both regimes for the financial year you choose, step by step, from the official rules recorded on Finobazaar.

Matters only for the old regime's exemption limit.

Gross salary after exempt allowances (for example the exempt part of HRA), before the standard deduction.

For example savings or deposit interest. Not capital gains.

Used as you enter it, without checking. Leave empty if unsure.

Numbers only; commas are fine. What you enter is used for this calculation only and is not stored.

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How taxable income is worked out

  1. Gross total income: salary plus other income taxed at normal rates.
  2. Standard deduction on salary: the amount each regime allows for the year, never more than the salary.
  3. Deductions: under the old regime 80C, 80D (each within its limit) and any other deductions you state; under the new regime only the employer's NPS contribution under 80CCD(2), within its share of salary.
  4. Total income, rounded to the nearest ten rupees (section 288A).
  5. Tax on the slabs of the regime; under the old regime the exemption limit depends on your age.
  6. Rebate under section 87A for a resident whose total income is within the limit, with marginal relief just above it where the rule provides it.
  7. Surcharge on high incomes, with marginal relief; then health and education cess on tax and surcharge.
  8. Tax payable, rounded to the nearest ten rupees (section 288B).

Old regime and new regime

The new regime (section 115BAC) is the default and has lower slab rates but allows few deductions. The old regime keeps deductions such as 80C and 80D. Which gives less tax depends on your own figures, so the calculator works out both for the same year. Neither is shown as best for everyone.

Which rules are used

Only rules recorded on Finobazaar from official sources, checked and approved by a second person, for the financial year you choose. If a year's rules are not verified, no result is shown; the rules of another year are never used instead. Each result lists the rule set, its version and the official pages.

  • Covered: resident individuals; salary and other income taxed at normal rates.
  • Not covered: capital gains and other special-rate income, house property and business income, losses, non-residents, interest and fees, tax already paid.

This is an estimate from the figures you enter and the official rules recorded on Finobazaar for the year or date shown. It is not a tax return, a tax demand or professional tax advice, and it may leave out rules that apply to you. Check with the Income Tax Department's own utilities or a qualified tax professional before you file or pay.

Frequently asked questions

Which formula does the income tax calculator: old vs new regime use?

Total income = income − standard deduction − deductions the regime allows (rounded to ₹10); tax = slabs − 87A rebate + surcharge + 4% cess (rounded to ₹10)
The explanation below the calculator sets out each step and what the result leaves out.

What details do I need for the income tax calculator: old vs new regime?

You need: financial year. Optional: salary for the year, other income taxed at normal rates, section 80C investments, health insurance for yourself and family, health insurance for parents, other deductions you are eligible for and employer's NPS contribution (₹, 80CCD(2), new regime).

Where do the tax rates and limits come from?

From official Income Tax Department sources, recorded on Finobazaar as rule sets with the source, the date they were checked and an approval by a second person. Each result lists the rules and links used. A year or date whose rules have not been verified gets no result rather than another year's rules.

Which is better, the old or the new tax regime?

It depends on your income and the deductions you can claim: the new regime has lower slab rates but allows few deductions (mainly the standard deduction and the employer's NPS contribution), while the old regime allows deductions such as 80C and 80D. The calculator works out both for your figures and shows which is lower for them; that is not a recommendation for anyone else.

Is the result my final tax?

No. It is an estimate from the figures you enter and the rules recorded for the year or date shown. It is not a tax return or professional advice and may leave out rules that apply to you; the calculator lists what it does not cover.

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