Last Updated on July 26, 2024 at 11:12 pm
Budget 2024 has further reduced the tax burden in the new tax regime. Use this free calculator to compare the old and new tax regimes (calculations for past new tax regime slabs are also available).
This comparison table was originally prepared by Vinay Vittal, modified by Balasubrahmanyan and then by me post budget 2024. This gives you a detailed chart of when the new tax regime will be beneficial and when the old regime will be beneficial.
The revised tax slab proposed in the finance bil 2024 are
1. Upto Rs. 3,00,000 Nil
2. From Rs. 3,00,001 to Rs. 7,00,000 5%
3. From Rs. 7,00,001 to Rs. 10,00,000 10%
4. From Rs. 10,00,001 to Rs. 12,00,000 15%
5. From Rs. 12,00,001 to Rs. 15,00,000 20%
6. Above Rs. 15,00,000 30%
🔥Secure your future with our Robo-advisory tool trusted by over 3,500 investors and advisors. From effortless retirement planning to funding your children’s biggest dreams, turn your financial goals into reality. 🔥
Subscribe for money management solutions via email! (Link takes you to our email sign-up form) Join 32,000+ readers in our community.
👉 New Tool Alert! NaviPlan: A Privacy-Focused Multi-asset Tracker and Goal Planner 👈
Note: There may be errors in the calcualtor as it is based on our interpretaion of the Budget memorandum. Therefore please check the entries carefully before use. We have assumed there are no changes in the surcharges and other rules. Please contact us at freefincal AT gmail.com in case of any errors.
This is a screenshot of the tool.
Download the post-budget 2024 New Tax Regime vs Old Tax Regime Calculator