10. Old vs New Tax Regime - Simplest Calculator For Your India Taxes 💰📆🧮 🔎

🎯 Link for the simplest calculator - 👉👉 calculate taxes.

Note - This is not a comprehensive calculator for all possible tax situations. But it provides a good general guideline as to which regime is best for an individual in the fastest way possible with least number of inputs!! Check instructions below.. There’s a Youtube Video for instructions as well.

Which Tax regime to choose is one of the most asked questions this year, especially around the tax filing date.

Few months back I had created a calculator to find out which tax regime is best for someone - just by providing the Income and Deductions.

Instructions

  1. Access the calculator by clicking 👉👉 here
  2. Enter Income in Total Income (INR) field, Don’t input commas.
  3. Enter Deductions you generally claim in Total Deductions field
  4. Select Age Bracket
  5. Click to include Cess (recommended)
  6. Press Calculate
  7. You can clear with Clear button and calculate again.

Example

For a Total income of 15 Lakhs and total deductions of 3.3 lakhs (1.5 lakh for 80C and 1.8 lakh for rent). This is how the calculations look

1. Data Input and Press Calculate

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2. Calculations with Old Tax Regime slabs

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3. New Tax Regime slabs

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Disclaimers

  1. For new tax regime the calculator assumes the deducations to be zero. However some deducations like NPS contributions are allowed. Please check more details here
  2. This calculator is for reference purpose only. It does NOT provide any financial advice or recommendation. It gives a good general guideline to compare tax regimes
  3. We do NOT store or share any data entered on this application.

DEMO | Simplest Old Vs New Tax Regime Calculator

Please watch in full screen or on youtube directly



Please share if you think it’s useful!

Thank you for reading through.

-Nikhil

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