Should I choose the Old Tax Regime or the New Tax Regime?

It depends on your eligible deductions. If your total deductions (Section 80C up to ₹1.5L, Section 24(b) home loan interest up to ₹2L, HRA, 80D medical) exceed ₹3.75 Lakhs, the Old Tax Regime often saves more tax. For individuals with minimal deductions, the New Tax Regime offers lower concessional slab rates and higher tax rebate thresholds.

What is the standard deduction for salaried employees?

Under Indian Income Tax provisions, salaried individuals and pensioners receive a flat standard deduction from gross salary income, reducing total taxable income automatically under both tax regimes.

How much can I save under Section 80C?

Section 80C provides a deduction of up to ₹1,50,000 per financial year for investments in ELSS mutual funds, PPF, EPF, Life Insurance premiums, 5-year tax-saver fixed deposits, and home loan principal repayments.

Do I need to pay advance tax?

If your total estimated tax liability exceeds ₹10,000 in a financial year (after deducting TDS), you must pay advance tax in quarterly installments (15% by June 15, 45% by Sep 15, 75% by Dec 15, and 100% by March 15) to avoid interest penalties under Sections 234B and 234C.

How is HRA exemption calculated under the Old Regime?

House Rent Allowance (HRA) exemption is the minimum of three amounts: (1) Actual HRA received, (2) 50% of basic salary for metro cities or 40% for non-metros, or (3) Rent paid minus 10% of basic salary.

Can I download my detailed tax computation summary?

Yes. Click on the Download button in the top toolbar to export your tax slab breakdown, rebate calculations, and regime comparisons to PDF, Excel, or CSV.

Should I choose the Old Tax Regime or the New Tax Regime?

It depends on your eligible deductions. If your total deductions (Section 80C up to ₹1.5L, Section 24(b) home loan interest up to ₹2L, HRA, 80D medical) exceed ₹3.75 Lakhs, the Old Tax Regime often saves more tax. For individuals with minimal deductions, the New Tax Regime offers lower concessional slab rates and higher tax rebate thresholds.

What is the standard deduction for salaried employees?

Under Indian Income Tax provisions, salaried individuals and pensioners receive a flat standard deduction from gross salary income, reducing total taxable income automatically under both tax regimes.

How much can I save under Section 80C?

Section 80C provides a deduction of up to ₹1,50,000 per financial year for investments in ELSS mutual funds, PPF, EPF, Life Insurance premiums, 5-year tax-saver fixed deposits, and home loan principal repayments.

Do I need to pay advance tax?

If your total estimated tax liability exceeds ₹10,000 in a financial year (after deducting TDS), you must pay advance tax in quarterly installments (15% by June 15, 45% by Sep 15, 75% by Dec 15, and 100% by March 15) to avoid interest penalties under Sections 234B and 234C.

How is HRA exemption calculated under the Old Regime?

House Rent Allowance (HRA) exemption is the minimum of three amounts: (1) Actual HRA received, (2) 50% of basic salary for metro cities or 40% for non-metros, or (3) Rent paid minus 10% of basic salary.

Can I download my detailed tax computation summary?

Yes. Click on the Download button in the top toolbar to export your tax slab breakdown, rebate calculations, and regime comparisons to PDF, Excel, or CSV.

SWP Tax Calculator - Free Online Calculator | Calculator Loop

Name: SWP Tax Calculator
Author: Calculator Loop

Financial Calculator

Retirement Calculators

About SWP Tax Calculator

SWP Tax Calculator. Built for accurate financial planning with interactive charts, detailed breakdown schedules, and multi-format reports.

Why this page helps

Quickly discover which tax regime saves you more money each year
Plan eligible investments before the fiscal year ends
Accurately predict monthly TDS deductions and advance tax requirements

How to use it well

Select the Assessment Year and your applicable tax regime (or compare Old vs New).
Enter your gross annual income from salary, business, interest, and capital gains.
Fill in eligible deductions including Section 80C, 80D, HRA, and home loan interest.
Review the computed taxable income, slab-by-slab tax liability, cess, and net payable tax.
Download the comparison report to make informed tax planning choices.

Expert tips

Always check whether your eligible exemptions exceed ₹3.75 Lakhs before opting for Old Regime.

Financial Calculator

Retirement Calculators

About SWP Tax Calculator

SWP Tax Calculator. Built for accurate financial planning with interactive charts, detailed breakdown schedules, and multi-format reports.

Why this page helps

Quickly discover which tax regime saves you more money each year
Plan eligible investments before the fiscal year ends
Accurately predict monthly TDS deductions and advance tax requirements

How to use it well

Select the Assessment Year and your applicable tax regime (or compare Old vs New).
Enter your gross annual income from salary, business, interest, and capital gains.
Fill in eligible deductions including Section 80C, 80D, HRA, and home loan interest.
Review the computed taxable income, slab-by-slab tax liability, cess, and net payable tax.
Download the comparison report to make informed tax planning choices.

Expert tips

Always check whether your eligible exemptions exceed ₹3.75 Lakhs before opting for Old Regime.

Loading Calculator.

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About SWP Tax Calculator

Why this page helps

How to use it well

Expert tips

About SWP Tax Calculator

Why this page helps

How to use it well

Expert tips

Frequently Asked Questions (FAQ)

Should I choose the Old Tax Regime or the New Tax Regime?

What is the standard deduction for salaried employees?

How much can I save under Section 80C?

Do I need to pay advance tax?

How is HRA exemption calculated under the Old Regime?

Can I download my detailed tax computation summary?

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Frequently Asked Questions (FAQ)

Should I choose the Old Tax Regime or the New Tax Regime?

What is the standard deduction for salaried employees?

How much can I save under Section 80C?

Do I need to pay advance tax?

How is HRA exemption calculated under the Old Regime?

Can I download my detailed tax computation summary?

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Client-Side Secure Calculations

SWP Tax Calculator

SWP Tax Calculator

1Input Details

2Summary

Smart Insights & What-If ScenariosAI Powered

Test Conservative vs Best-Case

Client-Side Secure Calculations