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Compare your tax liability under the New Tax Regime (with ₹75,000 standard deduction) versus the Old Tax Regime (with 80C, 80D, and HRA deductions).
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Under the revised Finance Act, the New Tax Regime continues to be the default tax regime for individuals in India. Key updates include an enhanced standard deduction of ₹75,000 (increased from ₹50,000 for salaried employees) and full tax rebate under Section 87A for net taxable incomes up to ₹7,00,000 (effectively ₹7.75 Lakhs for salaried individuals with standard deduction).
| Income Slab (₹) | Tax Rate (%) |
|---|---|
| ₹0 to ₹3,00,000 | Nil (0%) |
| ₹3,00,001 to ₹7,00,000 | 5% (Full 87A rebate up to ₹7L) |
| ₹7,00,001 to ₹10,00,000 | 10% |
| ₹10,00,001 to ₹12,00,000 | 15% |
| ₹12,00,001 to ₹15,00,000 | 20% |
| Above ₹15,00,000 | 30% |
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