Set to a ₹10 lakh salary. Add your own income and deductions.
A ₹10 lakh salary is tax-free in the new regime. Taxable income after the ₹75,000 standard deduction is ₹9.25 lakh: 5% on ₹4 to 8 lakh (₹20,000) plus 10% on the ₹1.25 lakh above ₹8 lakh (₹12,500) gives ₹32,500, and the 87A rebate cancels it.
A ₹10 lakh salary is tax-free in the new regime. Taxable income after the ₹75,000 standard deduction is ₹9.25 lakh: 5% on ₹4 to 8 lakh (₹20,000) plus 10% on the ₹1.25 lakh above ₹8 lakh (₹12,500) gives ₹32,500, and the 87A rebate cancels it.
In the old regime the tax is ₹1,06,600 including cess with only the ₹50,000 standard deduction, ₹59,800 with ₹2.25 lakh of deductions and ₹28,600 with ₹3.75 lakh. It takes about ₹4.5 lakh of deductions to bring the old regime down to nil.
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Yes, in the new regime, for a resident individual whose only income is the salary. Any salary up to ₹12.75 lakh is tax-free.
Nil in the new regime. In the old regime with no deductions it is about ₹8,883 a month.
Only if HRA, 80C, 80D and other deductions together reach about ₹4.5 lakh, which brings the old regime to nil as well. Otherwise the new regime costs less.
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