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The New Regime under Section 115BAC is the default regime from FY 2024-25. Standard deduction of ₹75,000 applies for salaried individuals.
| Annual Income | Tax Rate | Tax on Slab |
|---|---|---|
| Up to ₹4,00,000 | Nil | ₹0 |
| ₹4,00,001 – ₹8,00,000 | 5% | ₹20,000 |
| ₹8,00,001 – ₹12,00,000 | 10% | ₹40,000 |
| ₹12,00,001 – ₹16,00,000 | 15% | ₹60,000 |
| ₹16,00,001 – ₹20,00,000 | 20% | ₹80,000 |
| ₹20,00,001 – ₹24,00,000 | 25% | ₹1,00,000 |
| Above ₹24,00,000 | 30% | Varies |
Old Regime allows deductions under 80C, 80D, HRA, home loan interest etc. Slabs vary by age. Standard deduction is ₹50,000.
| Annual Income | Below 60 | 60–80 yrs | 80+ yrs |
|---|---|---|---|
| Up to ₹2,50,000 | Nil | Nil | Nil |
| ₹2,50,001 – ₹3,00,000 | 5% | Nil | Nil |
| ₹3,00,001 – ₹5,00,000 | 5% | 5% | Nil |
| ₹5,00,001 – ₹10,00,000 | 20% | 20% | 20% |
| Above ₹10,00,000 | 30% | 30% | 30% |
Salaried employee, age below 60, Mumbai. No capital gains.
| Step | New Regime | Old Regime |
|---|---|---|
| Gross Salary | ₹15,00,000 | ₹15,00,000 |
| Standard Deduction | −₹75,000 | −₹50,000 |
| 80C (PPF/ELSS/EPF) | N/A | −₹1,50,000 |
| 80D (Health Insurance) | N/A | −₹25,000 |
| 80CCD(1B) NPS | N/A | −₹50,000 |
| Taxable Income | ₹14,25,000 | ₹12,25,000 |
| Tax on Slabs | ₹93,750 | ₹1,80,000 |
| Cess @ 4% | ₹3,750 | ₹7,200 |
| Total Tax | ₹97,500 | ₹1,87,200 |
✅ New Regime saves ₹89,700 in this example. Result may vary based on HRA, home loan interest and other deductions. Calculate your exact tax →
Most deductions are available in Old Regime only. The highlighted ones work in New Regime too.
| Section | What it covers | Max Deduction | Old | New |
|---|---|---|---|---|
| SALARY EXEMPTIONS | ||||
| Standard Ded. | Flat deduction for all salaried employees — no proof needed | ₹50,000 / ₹75,000 | ✅ ₹50K | ✅ ₹75K |
| HRA | Rent paid — min of HRA received, 50%/40% basic, rent−10% basic | Formula-based | ✅ | ❌ |
| Gratuity | Exempt on retirement/resignation — Sec 10(10) | ₹20,00,000 | ✅ | ✅ |
| Leave Enc. | Leave encashment on retirement — Sec 10(10AA) | ₹25,00,000 | ✅ | ✅ |
| INVESTMENTS & SAVINGS — Chapter VI-A | ||||
| 80C | PPF, ELSS, LIC, EPF, NSC, SSY, home loan principal | ₹1,50,000 | ✅ | ❌ |
| 80CCD(1B) | Your own NPS contribution — extra deduction over 80C | ₹50,000 | ✅ | ❌ |
| 80CCD(2) | Employer's NPS contribution on your behalf — available in BOTH regimes | 10% basic (14% govt) | ✅ | ✅ |
| HEALTH & INSURANCE | ||||
| 80D | Health insurance — self/family ₹25K + parents ₹25K (₹50K if senior) | ₹25,000 – ₹1,00,000 | ✅ | ❌ |
| HOUSE PROPERTY | ||||
| Sec 24(b) | Home loan interest — ₹2L cap for self-occupied, no limit for let-out | ₹2,00,000 (SOP) | ✅ | ❌ |
| LOANS & DONATIONS | ||||
| 80E | Education loan interest — for 8 years from start of repayment | No limit (interest only) | ✅ | ❌ |
| 80G | Donations to approved charities — 50% or 100% deduction | Subject to 10% of GTI | ✅ | ❌ |
| 80GGC | Donations to political parties — via cheque/digital only, not cash | 100% deduction | ✅ | ❌ |
| RENT & INTEREST INCOME | ||||
| 80GG | Rent deduction for those without HRA — ₹5,000/month max | ₹60,000/year | ✅ | ❌ |
| 80TTA | Savings account interest — for individuals below 60 years | ₹10,000 | ✅ | ❌ |
| 80TTB | All interest income (savings + FD + RD) — for senior citizens 60+ only | ₹50,000 | ✅ | ❌ |
All calculations are based on the Finance Act 2025 and CBDT notifications for FY 2025-26 (AY 2026-27). TaxPulse™ provides tax estimates for planning purposes only. This is not legal or financial advice. For complex tax situations including foreign income, ESOPs, F&O trading or business income, consult a qualified Chartered Accountant.