New and old income tax regime comparison calculator

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New and old income tax regime comparison calculator

Confused between new and old tax regime and not able to decide which tax regime is beneficial for you. Use this simple income tax comparison calculator online to decide which tax regime is best for you. Please do not forget to share it with your friends!

New and old income tax regime comparison calculator

online

Consider reading – Income tax exemptions for salaried employees

Check here to understand the difference between old and new tax regime.

Snapshot of the new and old tax regime slabs as below:-

New tax rate after budget 2020
New tax rate after budget 2020

Source – Twitter

link – https://twitter.com/nsitharamanoffc/status/1223528702278918146?s=03

Which is best for saving most tax between the new and old tax regime?

If you want to save maximum tax then go for the old tax regime as it offers the tax savings instruments using which you can save maximum tax. The new tax regime are for those people who do not want to put their money into tax savings instruments.

How do I use salary to tax calculator?

Effective FY 2020-21; you have 2 options for tax filings i.e. New tax regime and Old tax regime. Depending on which tax regime you opt for, your tax will be calculated accordingly.

In the above tax calculator, if you enter your salary and add the investments you add it will automatically suggest the best tax option for you.


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