How it works
Enter your salary breakup, deductions, HRA and any other income. The calculator works out your taxable income and tax liability under both the old and the new regime, then shows which one leaves more money in your pocket. Standard deduction, applicable exemptions and 4% health & education cess are factored into each regime automatically.
When to use this
Use it to estimate your annual tax, decide between the old and new regime before declaring it to your employer, and see how much extra investments under Section 80C or a higher HRA exemption could save you. If you're weighing a home purchase, pair it with the Rent vs Buy calculator to factor in home-loan tax benefits.
Frequently asked questions
Should I choose the old or new regime?
It depends on your deductions. If you claim significant exemptions - HRA, 80C investments, home-loan interest, NPS - the old regime often wins. If you have few deductions, the new regime's lower slab rates usually come out ahead. This calculator compares both so you don't have to guess.
What is the standard deduction?
It's a flat deduction from your salary income that you get without any proof or investment. It applies in both regimes (the amount differs between them) and is already built into the figures shown here.
Can I claim HRA in the new regime?
No. HRA exemption and most other allowances are only available under the old regime. The new regime trades these exemptions for lower slab rates and a higher standard deduction.
Are these figures official?
No. These are estimates to help you plan and compare regimes. Your actual liability can vary with surcharge, rebates and other income. Confirm with a qualified tax advisor before filing.
Numbers are estimates. Consult a qualified tax advisor before making major decisions. · rentvsbuy.in