Income Tax Ready Reckoner for AY 2024-25 (FY 2023-24) : Tax Calculator Old Regime Vis-à-Vis New Regime

Income Tax Ready Reckoner for AY 2024-25 (FY 2023-24) : Tax Calculator Old Regime Vis-à-Vis New Regime

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


income-tax-ready-reckoner-for-ay-2024-25-fy-2023-24-tax-calculator-old-regime-vis-a-vis-new-regime

Read also : Income Tax Calculator – Old Regime vis-à-vis New Regime as proposed by Finance Bill, 2023 from IncomeTaxIndia

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