Salary Calculator India New Tax Regime Slab Vs Old

Salary Calculation Formulas:

In-Hand Salary (New) = Gross Salary - Income Tax (New Regime) - PF - PT

In-Hand Salary (Old) = Gross Salary - Income Tax (Old Regime) - PF - PT

Income Tax (New Regime):

Income Tax (Old Regime):

In-Hand Salary (New Regime):

In-Hand Salary (Old Regime):

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1. What is this Calculator?

This calculator compares your net salary under India's new and old income tax regimes, helping you decide which regime is more beneficial for your financial situation.

2. Tax Slabs Comparison

New Regime (FY 2023-24):

Up to ₹3 lakh: 0%
₹3-6 lakh: 5%
₹6-9 lakh: 10%
₹9-12 lakh: 15%
₹12-15 lakh: 20%
Above ₹15 lakh: 30%

Old Regime:

Up to ₹2.5 lakh: 0%
₹2.5-5 lakh: 5%
₹5-10 lakh: 20%
Above ₹10 lakh: 30%

3. How to Use This Calculator

Enter your gross annual salary, Provident Fund (PF) contribution, and Professional Tax (PT). The calculator will show your tax liability and in-hand salary under both regimes.

4. Key Differences Between Regimes

New Regime: Lower tax rates but fewer deductions allowed
Old Regime: Higher tax rates but more deductions available (HRA, LTA, 80C, etc.)

5. Frequently Asked Questions

Q1: Which regime is better for me?
A: The new regime typically benefits those with fewer investments/deductions, while the old regime may be better if you have significant tax-saving investments.

Q2: Can I switch between regimes?
A: Salaried individuals can choose annually, while business professionals must stick to their choice for the year.

Q3: Are all deductions removed in new regime?
A: Only standard deduction of ₹50,000 and NPS contribution (section 80CCD(2)) are allowed.

Q4: How is PF calculated?
A: Typically 12% of basic salary, but you can enter your actual PF contribution.

Q5: What's the maximum Professional Tax?
A: Varies by state, typically ₹2,500/year in most states.