Set to a ₹20 lakh salary. Add your own income and deductions.
A ₹20 lakh salary pays ₹1,92,400 in the new regime, including cess: the taxable income is ₹19.25 lakh after the standard deduction, and the slabs charge 5%, 10%, 15% and then 20% on the part above ₹16 lakh.
A ₹20 lakh salary pays ₹1,92,400 in the new regime, including cess: the taxable income is ₹19.25 lakh after the standard deduction, and the slabs charge 5%, 10%, 15% and then 20% on the part above ₹16 lakh.
In the old regime it is ₹4,13,400 with no deductions, and still about ₹2,96,400 with ₹3.75 lakh of deductions including a home loan. At this income the old regime only wins with very large HRA and home loan claims.
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About ₹16,033 a month in the new regime.
In the new regime the top slab reached is 20% (₹16 to 20 lakh). In the old regime it is 30% (above ₹10 lakh).
No. Surcharge starts only when income is above ₹50 lakh.
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