Tax Calculator
Basic Information
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Old Regime Deductions(Not applicable for New Regime)
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PPF, ELSS, EPF, Life Insurance, etc.
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Max: ₹25K (₹50K for senior citizens)
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Tax Comparison Results
New Tax Regime is better for you
Save ₹65,800.8(59.1%)
New Tax Regime
Gross Income:₹12.00 L
Taxable Income:₹11.25 L
Tax Before Rebate:₹68,750
Rebate (87A):-₹25,000
Cess (4%):₹1,750
Total Tax:₹45,500
Net Income:₹11.54 L
Old Tax Regime
Gross Income:₹12.00 L
Taxable Income:₹9.73 L
Tax Before Rebate:₹1.07 L
Rebate (87A):-₹0
Cess (4%):₹4,280.8
Total Tax:₹1.11 L
Net Income:₹10.89 L
Visual Comparison
Tax Comparison
Section 80C Investment Options
PPF
Public Provident Fund - 15 year lock-in
Max: ₹1.50 L
ELSS
Equity Linked Savings Scheme - 3 year lock-in
Max: ₹1.50 L
EPF
Employee Provident Fund contribution
Max: ₹1.50 L
Life Insurance Premium
Premium paid for life insurance
Max: ₹1.50 L
NSC
National Savings Certificate - 5 year lock-in
Max: ₹1.50 L
Tax Saver FD
Tax saving fixed deposit - 5 year lock-in
Max: ₹1.50 L
💡 Quick Tips
- • New regime has lower rates but no deductions
- • Old regime allows 80C, HRA, home loan deductions
- • You can switch regimes every year
- • Standard deduction: ₹75K (new), ₹50K (old)