You asked How much tax on 15 lakh salary
Worked out with the Income Tax & Take-home Salary Calculator
Monthly take-home (better regime)₹1,15,075
Lower tax underNew regime
You save₹1,53,161
Tax — new regime₹97,500
- Your numbers
- Annual gross salary: ₹15,00,000
- Assumed
- Other income (interest, rent, etc.): ₹0 · Your EPF contribution (monthly): ₹1,800 · Professional tax (annual): ₹0
What is the standard deduction?
Salaried employees and pensioners can subtract a flat amount from salary income before tax, without showing any proof. It is ₹75,000 under the new regime and ₹50,000 under the old regime. Self-employed people and freelancers do not get it.
Read more in the fid explainer →Rates and limits come from FID's rates table and change when the government issues a new notification.