Calculate income tax under old and new regime for FY 2024-25.
💡 New Regime saves you ₹96,200 at this income level.
The New Tax Regime (2024-25) offers lower tax rates but fewer deductions. The Old Regime allows deductions under 80C, 80D, HRA, etc. but has higher slab rates.
If you have significant deductions (above ₹3-4 Lakhs), the Old Regime may save more. Otherwise, the New Regime with its lower rates is generally better.
Yes, from FY 2024-25, a standard deduction of ₹75,000 is available in the New Tax Regime for salaried individuals.