* New regime is default. Old regime allows deductions (80C, 80D, HRA, etc). Rebate under section 87A applicable as per rules.
Choose the tax regime that best suits your financial situation:
Lower tax rates but fewer deductions and exemptions.
Simplified structure with 6 income slabs.
Default from FY 2023-24 unless opted out.
Special Exemption: ₹75,000
Higher tax rates but with various deductions and exemptions.
Access to deductions like HRA, 80C, 80D, etc.
May be beneficial if you have significant deductions.
Special Exemption: ₹50,000
This is an estimate only. Actual tax liability may vary based on additional factors. Consult a tax professional for personalized advice.
| Income Range (₹) | Tax Rate |
|---|---|
| 0 – 3,00,000 | 0% |
| 3,00,001 – 6,00,000 | 5% |
| 6,00,001 – 9,00,000 | 10% |
| 9,00,001 – 12,00,000 | 15% |
| 12,00,001 – 15,00,000 | 20% |
| Above 15,00,000 | 30% |
| Income Range (₹) | Tax Rate |
|---|---|
| 0 – 2,50,000 | 0% |
| 2,50,001 – 5,00,000 | 5% |
| 5,00,001 – 10,00,000 | 20% |
| Above 10,00,000 | 30% |