Old Tax Vs New Tax Regime
| Gross Salary (₹) | Breakeven Deduction (₹) | Your Deduction (₹) | Which Regime to Choose? |
|---|
Review the gross salary levels and corresponding break-even deduction amounts provided in the table. Enter your total eligible deductions against your salary to see whether the Old or New tax regime is likely to be more tax-efficient for you.
*Excludes Standard Deduction
*The break even limits apply to deductions available exclusively under the old regime.
*If you’re claiming work-related allowances (which are allowed in the new regime too), make sure to compare the total tax you pay under both regimes to see which one saves you more
*The break even limits apply to deductions available exclusively under the old regime.
*If you’re claiming work-related allowances (which are allowed in the new regime too), make sure to compare the total tax you pay under both regimes to see which one saves you more
Deduction/Exemption Table
| Deduction/Exemption | Old Tax Regime | New Tax Regime |
|---|---|---|
| Standard Deduction | ₹50,000 (Salaried & Pensioners) | ₹75,000 (Salaried & Pensioners) |
| Section 80C (e.g. PPF, ELSS, NSC) | Available (upto ₹1.5 lakh) | Not Available |
| Section 80D (Medical Insurance) | Available | Not Available |
| House Rent Allowance (HRA) | Available | Not Available |
| Leave Travel Allowance (LTA) | Available | Not Available |
| Interest on Home Loan (Self-Occupied) | Deduction up to ₹2 lakh | Not Available |
| Interest on Home Loan (Let-Out Property) | Full deduction allowed | Available (only for rented property) |
| Section 80TTA (Savings Interest) | Up to ₹10,000 | Not Available |
| Family Pension Deduction | ₹15,000 or 1/3rd of pension (whichever is lower) | ₹25,000 or 1/3rd (whichever is lower) |
| NPS (Employee – Sec 80CCD(1B)) | Additional ₹50,000 over 80C | Not Available |
| NPS (Employer – Sec 80CCD(2)) | Up to 10% of salary (14% for govt employees) | 14% of salary (for all) |