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Smart Tax Calculator: Old vs New Regime

Enter your income and deductions — we'll calculate both regimes and tell you which one saves more.

Your Details
₹0₹50L
Deductions (Old Regime)
Max: ₹1,50,000
Section 80C — Investment & Savings Deductions

Max Limit: ₹1,50,000 per year

What to include:

  • PPF — Public Provident Fund contributions
  • ELSS — Equity Linked Savings Scheme (tax-saving mutual funds)
  • LIC — Life Insurance premium payments
  • EPF — Employee Provident Fund (your contribution)
  • NSC — National Savings Certificate
  • SSY — Sukanya Samriddhi Yojana
  • Tax-saving FD — 5-year fixed deposit
  • Tuition fees — For up to 2 children
  • Home Loan Principal — Repayment amount
  • Stamp duty — On property purchase
Most salaried individuals can easily claim the full ₹1.5L through EPF + PPF/ELSS combination.
Self: ₹25K | Parents: ₹50K
Section 80D — Health Insurance Premium

What to include:

  • Self/Family premium — Up to ₹25,000 (₹50,000 if senior citizen)
  • Parents' premium — Up to ₹25,000 (₹50,000 if parents are senior citizens)
  • Preventive health check-up — Up to ₹5,000 (within above limits)
ScenarioMax Deduction
Self < 60, Parents < 60₹50,000
Self < 60, Parents ≥ 60₹75,000
Self ≥ 60, Parents ≥ 60₹1,00,000
Even if your employer provides group insurance, you can claim additional personal health insurance premiums.
Based on rent paid
HRA Exemption — House Rent Allowance

Who can claim: Salaried individuals who receive HRA and pay rent

Exempt amount is the minimum of:

  • Actual HRA received from employer
  • 50% of basic salary (metro cities) or 40% (non-metro)
  • Actual rent paid minus 10% of basic salary

Documents needed: Rent receipts, landlord PAN (if rent > ₹1L/year), rent agreement

If you don't receive HRA but pay rent, you can still claim up to ₹60,000 under Section 80GG.
Max: ₹50,000
Section 80CCD(1B) — National Pension System

Max Limit: ₹50,000 (over and above 80C limit)

What to include:

  • Voluntary contributions to NPS Tier-I account
  • This is an additional deduction beyond the ₹1.5L of Section 80C

Benefits:

  • Total tax saving: up to ₹15,600 (at 30% + cess bracket)
  • Long-term retirement corpus with market-linked returns
  • Partial withdrawal allowed after 3 years for specific purposes
NPS gives a double benefit — retirement savings + extra ₹50K tax deduction above 80C. One of the most tax-efficient instruments available.
Max: ₹2,00,000
Section 24(b) — Home Loan Interest

Max Limit: ₹2,00,000 per year (self-occupied property)

What to include:

  • Interest component of your home loan EMI
  • Pre-construction interest (claimable in 5 equal installments after possession)

Important:

  • For let-out property, there's no upper limit on interest deduction
  • Construction must be completed within 5 years from the end of the financial year of borrowing
  • Additional ₹1.5L deduction under Sec 80EEA for affordable housing (if applicable)
Your bank provides an interest certificate annually. The principal portion is claimed under 80C, and the interest here under Sec 24(b).
Education loan, donations
Other Deductions

Commonly claimed deductions:

  • 80E — Education Loan Interest: Full interest amount for 8 years (no cap)
  • 80G — Charitable Donations: 50% or 100% deduction depending on the fund/institution
  • 80TTA — Savings Account Interest: Up to ₹10,000 (₹50,000 for seniors under 80TTB)
  • 80DD — Disabled Dependent: ₹75,000 (₹1,25,000 for severe disability)
  • 80U — Self Disability: ₹75,000 or ₹1,25,000
  • 80DDB — Medical Treatment: Up to ₹40,000 (₹1,00,000 for seniors)
  • 80GG — Rent (no HRA): Up to ₹60,000/year
Many people miss claiming 80TTA (savings interest) and 80G (donations). Check your bank statements and donation receipts!
Tax Analysis
Old Regime
Tax Payable
₹0
Effective Rate: 0%
VS
New Regime
Tax Payable
₹0
Effective Rate: 0%
New Regime saves you more!
You save ₹0 extra
Tax Comparison
Old
₹0
New
₹0

Old Regime Breakdown

Gross Income₹0
Standard Deduction-₹50,000
Section 80C₹0
Section 80D₹0
HRA + NPS + Others₹0
Taxable Income₹0
Tax + Cess₹0

New Regime Breakdown

Gross Income₹0
Standard Deduction-₹75,000
No 80C/80D/HRA
No other deductions
Section 87A Rebate₹0
Taxable Income₹0
Tax + Cess₹0

Enter your details and click "Compare Both Regimes" to see personalized recommendations.

Smart Tax-Saving Tips For You
Maximize 80C Investments

Invest the full ₹1.5L in ELSS (best returns), PPF (safe), or NPS Tier-I for maximum deduction.

Extra ₹50K via NPS

80CCD(1B) gives an additional ₹50,000 deduction over 80C. That's ₹15,600 extra savings at 30% slab.

Health Insurance = Savings

A family health plan of ₹25K + parents' plan of ₹50K = ₹75K deduction. Protection + tax saving.

Don't Miss HRA

If you live in a rented house, HRA exemption can save ₹50,000–₹2,00,000+ depending on your salary and rent.

₹2.4 Cr+
Tax Saved for Clients
1000+
Returns Filed Annually
98%
Client Satisfaction
Free 15-Minute Consultation

Our Experts Helped Clients Save an Average of ₹47,000 Last Year

This calculator gives you an estimate — but our CA-certified experts can uncover hidden deductions you might be missing, review your investment portfolio, and create a personalized tax plan that maximizes your savings legally.

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Disclaimer: This calculator is for general informational and educational purposes only and should not be construed as tax, financial, or professional advice. Tax laws and regulations may change, and results may vary based on specific facts and circumstances. Please consult a qualified tax consultant or chartered accountant before making any financial decisions. Legal Idea shall not be held responsible for any loss or consequences arising from the use of this calculator. This does not create any professional-client relationship.

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03

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04

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