Income tax & take-home salary calculator
Compare both tax regimes side by side and see what lands in your account every month.
Example result
- Monthly take-home (better regime)
- ₹1,15,075
- Lower tax under
- New regime
- You save
- ₹1,53,161
- Tax — new regime
- ₹97,500
- Tax — old regime
- ₹2,50,661
Old vs new regime
| Old regime | New regime | |
|---|---|---|
| Gross income | ₹15,00,000 | ₹15,00,000 |
| Standard deduction | ₹50,000 | ₹75,000 |
| Other deductions & exemptions | ₹21,600 | ₹0 |
| Taxable income | ₹14,28,400 | ₹14,25,000 |
| Tax on slabs | ₹2,41,020 | ₹93,750 |
| Rebate (87A) | ₹0 | ₹0 |
| Surcharge | ₹0 | ₹0 |
| Health & education cess | ₹9,641 | ₹3,750 |
| Total tax | ₹2,50,661 | ₹97,500 |
| Monthly take-home | ₹1,02,312 | ₹1,15,075 |
How this is calculated
Both regimes are computed for the selected financial year using slabs, limits and rates stored with their official source.
- New regime: taxable income = gross income − standard deduction (salaried only).
- Old regime: taxable income = gross income − standard deduction − professional tax − HRA exemption − Chapter VI-A deductions. 80C (including your EPF contribution), 80D, 80CCD(1B) and home-loan interest are capped at their limits.
- Tax is applied slab by slab. The Section 87A rebate applies up to the rebate income limit; under the new regime, marginal relief limits tax just above that limit to the income exceeding it.
- Surcharge applies above ₹50 lakh with marginal relief, then 4% health & education cess on tax plus surcharge.
Monthly take-home = (gross salary − tax − your EPF − professional tax) ÷ 12.
Questions
Which regime should I choose?
The new regime has lower slab rates but allows almost no deductions. The old regime can work out cheaper if you claim large deductions such as HRA, 80C, 80D and home-loan interest. This calculator computes both so you can compare.
Where do the slabs and limits come from?
FID stores slabs, rebate limits, surcharge bands and deduction caps for each financial year with a link to the official source, and updates them when the law changes.
Is the take-home figure exact?
It is an estimate: gross salary minus income tax, your EPF contribution and professional tax, divided by 12. Your payslip may differ because of employer-specific components, perquisites and how TDS is spread across the year.
What is not covered?
Capital gains taxed at special rates, agricultural income, employer NPS contributions, perquisite valuation and detailed HRA computation are not modelled. Enter your HRA exemption amount directly if you know it.
Estimates for educational purposes only. Not financial, tax or investment advice.