Our free Indian Income Tax Calculator for New Regime helps salaried employees, professionals, and taxpayers accurately calculate income tax liability under India's new tax system. Whether you're planning tax savings, comparing tax regimes, filing ITR, or optimizing investments, this tool provides comprehensive tax calculation as per latest budget updates.
Calculate income tax under new regime, analyze tax slabs and rates, understand standard deduction benefits, and make informed tax decisions with our specialized tax calculator designed for Indian taxpayers.
Our calculator uses latest income tax slabs and rates as per Union Budget 2023, ensuring accurate tax calculations under the new regime.
Calculate tax under new regime and easily compare with old regime to make informed decisions about which tax system benefits you more.
Automatically applies standard deduction of ₹50,000 for salaried individuals and pensioners as per new regime provisions.
Helps in financial planning by showing exact tax liability, enabling better investment decisions and tax optimization strategies.
Used by salaried employees, CAs, tax consultants, and financial advisors across India. No registration required - calculate your income tax instantly!
The new tax regime offers lower tax rates but removes most deductions and exemptions (except standard deduction). It was introduced in Budget 2020 and has been made more attractive with revised slabs in Budget 2023. Taxpayers can choose between old and new regimes each financial year.
For FY 2023-24 (AY 2024-25), the new regime tax slabs are: 0% up to ₹3 lakh, 5% for ₹3-6 lakh, 10% for ₹6-9 lakh, 15% for ₹9-12 lakh, 20% for ₹12-15 lakh, and 30% above ₹15 lakh. There's a standard deduction of ₹50,000 for salaried individuals.
Yes, salaried individuals can choose between regimes each financial year. For businessmen and professionals, once you opt for new regime, you generally cannot switch back to old regime. It's recommended to calculate tax under both regimes before deciding.
The new regime does not allow most popular deductions including Section 80C (PPF, ELSS, etc.), Section 80D (health insurance), HRA exemption, LTA, interest on home loan under Section 24, and other chapter VI-A deductions. Only standard deduction of ₹50,000 is available for salaried individuals.