Income Tax Ready Reckoner for AY 2024-25 (FY 2023-24) : Tax Calculator Old Regime Vis-à-Vis New Regime
Income Tax Calculator for Salaried persons as per section 115BAC proposed by Finance Bill, 2023
|
Gross Income |
Standard Deduction |
Total Taxable Income |
Old Regime |
New Regime |
Tax Savings in New Regime | ||||
|
Income Tax after relief u/s 87A |
Health and Education Cess |
Total Tax Liability |
Income Tax after relief u/s 87A |
Health and Education Cess |
Total Tax Liability |
||||
|
3,00,000 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
3,50,000 |
50,000 |
3,00,000 |
0 |
0 |
0 |
||||
|
4,00,000 |
50,000 |
3,50,000 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
4,50,000 |
50,000 |
4,00,000 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
5,00,000 |
50,000 |
4,50,000 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
5,50,000 |
50,000 |
5,00,000 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
6,00,000 |
50,000 |
5,50,000 |
22,500 |
900 |
23,400 |
0 |
0 |
0 |
23,400 |
|
6,50,000 |
50,000 |
6,00,000 |
32,500 |
1,300 |
33,800 |
0 |
0 |
0 |
33,800 |
|
7,00,000 |
50,000 |
6,50,000 |
42,500 |
1,700 |
44,200 |
0 |
0 |
0 |
44,200 |
|
7,50,000 |
50,000 |
7,00,000 |
52,500 |
2,100 |
54,600 |
0 |
0 |
0 |
54,600 |
|
8,00,000 |
50,000 |
7,50,000 |
62,500 |
2,500 |
65,000 |
30,000 |
1,200 |
31,200 |
33,800 |
|
8,50,000 |
50,000 |
8,00,000 |
72,500 |
2,900 |
75,400 |
35,000 |
1,400 |
36,400 |
39,000 |
|
9,00,000 |
50,000 |
8,50,000 |
82,500 |
3,300 |
85,800 |
40,000 |
1,600 |
41,600 |
44,200 |
|
9,50,000 |
50,000 |
9,00,000 |
92,500 |
3,700 |
96,200 |
45,000 |
1,800 |
46,800 |
49,400 |
|
10,00,000 |
50,000 |
9,50,000 |
1,02,500 |
4,100 |
1,06,600 |
52,500 |
2,100 |
54,600 |
52,000 |
|
10,50,000 |
50,000 |
10,00,000 |
1,12,500 |
4,500 |
1,17,000 |
60,000 |
2,400 |
62,400 |
54,600 |
|
Gross Income |
Standard Deduction |
Total Taxable Income |
Old Regime |
New Regime |
Tax Savings in New Regime | ||||
|
Income Tax after relief u/s 87A |
Health and Education Cess |
Total Tax Liability |
Income Tax after relief u/s 87A |
Health and Education Cess |
Total Tax Liability |
||||
|
11,00,000 |
50,000 |
10,50,000 |
1,27,500 |
5,100 |
1,32,600 |
67,500 |
2,700 |
70,200 |
62,400 |
|
11,50,000 |
50,000 |
11,00,000 |
1,42,500 |
5,700 |
1,48,200 |
75,000 |
3,000 |
78,000 |
70,200 |
|
12,00,000 |
50,000 |
11,50,000 |
1,57,500 |
6,300 |
1,63,800 |
82,500 |
3,300 |
85,800 |
78,000 |
|
12,50,000 |
50,000 |
12,00,000 |
1,72,500 |
6,900 |
1,79,400 |
90,000 |
3,600 |
93,600 |
85,800 |
|
13,00,000 |
50,000 |
12,50,000 |
1,87,500 |
7,500 |
1,95,000 |
1,00,000 |
4,000 |
1,04,000 |
91,000 |
|
13,50,000 |
50,000 |
13,00,000 |
2,02,500 |
8,100 |
2,10,600 |
1,10,000 |
4,400 |
1,14,400 |
96,200 |
|
14,00,000 |
50,000 |
13,50,000 |
2,17,500 |
8,700 |
2,26,200 |
1,20,000 |
4,800 |
1,24,800 |
1,01,400 |
|
14,50,000 |
50,000 |
14,00,000 |
2,32,500 |
9,300 |
2,41,800 |
1,30,000 |
5,200 |
1,35,200 |
1,06,600 |
|
15,00,000 |
50,000 |
14,50,000 |
2,47,500 |
9,900 |
2,57,400 |
1,40,000 |
5,600 |
1,45,600 |
1,11,800 |
|
15,50,000 |
50,000 |
15,00,000 |
2,62,500 |
10,500 |
2,73,000 |
1,50,000 |
6,000 |
1,56,000 |
1,17,000 |
|
16,00,000 |
50,000 |
15,50,000 |
2,77,500 |
11,100 |
2,88,600 |
1,65,000 |
6,600 |
1,71,600 |
1,17,000 |
|
16,50,000 |
50,000 |
16,00,000 |
2,92,500 |
11,700 |
3,04,200 |
1,80,000 |
7,200 |
1,87,200 |
1,17,000 |
|
17,00,000 |
50,000 |
16,50,000 |
3,07,500 |
12,300 |
3,19,800 |
1,95,000 |
7,800 |
2,02,800 |
1,17,000 |
|
17,50,000 |
50,000 |
17,00,000 |
3,22,500 |
12,900 |
3,35,400 |
2,10,000 |
8,400 |
2,18,400 |
1,17,000 |
|
18,00,000 |
50,000 |
17,50,000 |
3,37,500 |
13,500 |
3,51,000 |
2,25,000 |
9,000 |
2,34,000 |
1,17,000 |
|
18,50,000 |
50,000 |
18,00,000 |
3,52,500 |
14,100 |
3,66,600 |
2,40,000 |
9,600 |
2,49,600 |
1,17,000 |
|
19,00,000 |
50,000 |
18,50,000 |
3,67,500 |
14,700 |
3,82,200 |
2,55,000 |
10,200 |
2,65,200 |
1,17,000 |
|
19,50,000 |
50,000 |
19,00,000 |
3,82,500 |
15,300 |
3,97,800 |
2,70,000 |
10,800 |
2,80,800 |
1,17,000 |
|
20,00,000 |
50,000 |
19,50,000 |
3,97,500 |
15,900 |
4,13,400 |
2,85,000 |
11,400 |
2,96,400 |
1,17,000 |
COMMENTS