Ready Reckoner – Comparison of Income Tax for F.Y. 2020-21 under Existing & New Regime calculated on Annual income starting from Rs.5 Lakh increasing by Rs.50,000 upto Rs.10 Lakh i.r.o. Below 60 Years (Normal Citizen), Between 60 Years to 79 Years (Senior Citizen) and Above 79 Years (Super Senior Citizen). Three different tables in this regard are appended below. View: New Tax Regime केन्द्रीय बजट 2020-2021: नई वैकल्पिक आयकर व्यवस्था – कर योग्य आय का स्लैब – नई कर दरें Hope this will be beneficial to plan the savings in current financial year and understanding to choose the option of Income Tax regime. View List of benefits available to Salaried Persons
The official Income Tax calculator to compare tax under existing & new regime is available now. At the end of this article the link of PDF of Ready reckoner of comparison of Income Tax for F.Y. 2020-21 under Existing & New Regime upto Rs. 30 Lakh Annual income i.r.o. Normal Citizen, Senior Citizen and Super Senior Citizen and the link of official calculator are provided.
Ready Reckoner – Comparison of Income Tax for F.Y. 2020-21 under Existing & New Regime
| Age |
Below 60 Years (Normal Citizen) |
|||
| Estimated Annual Income (Not applicable for any Income with special rates) | Less Exemptions/ Deductions (Deductions and Exemptions eligible as per Old regime) | Compare Tax for F.Y. 2020-21 under Existing & New Regime | ||
| Tax Payable as per Old Regime | Tax Payable as per New Regime | Tax Benefit as per new Regime | ||
| ₹ 5,00,000 | ₹ Nil | ₹ Nil | ₹ Nil | ₹ Nil |
| ₹ 5,50,000 | ₹ Nil | ₹ 23,400 | ₹ 18,200 | ₹ 5,200 |
| ₹ 5,50,000 | ₹ 50,000 | ₹ Nil | ₹ 18,200 | ₹ (-)18,200 |
| ₹ 6,00,000 | ₹ Nil | ₹ 33,800 | ₹ 23,400 | ₹ 10,400 |
| ₹ 6,00,000 | ₹ 50,000 | ₹ 23,400 | ₹ 23,400 | ₹ Nil |
| ₹ 6,00,000 | ₹ 1,00,000 | ₹ Nil | ₹ 23,400 | ₹ (-)23,400 |
| ₹ 6,50,000 | ₹ Nil | ₹ 44,200 | ₹ 28,600 | ₹ 15,600 |
| ₹ 6,50,000 | ₹ 50,000 | ₹ 33,800 | ₹ 28,600 | ₹ 5,200 |
| ₹ 6,50,000 | ₹ 1,00,000 | ₹ 23,400 | ₹ 28,600 | ₹ (-)5,200 |
| ₹ 6,50,000 | ₹ 1,50,000 | ₹ Nil | ₹ 28,600 | ₹ (-)28,600 |
| ₹ 7,00,000 | ₹ Nil | ₹ 54,600 | ₹ 33,800 | ₹ 20,800 |
| ₹ 7,00,000 | ₹ 50,000 | ₹ 44,200 | ₹ 33,800 | ₹ 10,400 |
| ₹ 7,00,000 | ₹ 1,00,000 | ₹ 33,800 | ₹ 33,800 | ₹ Nil |
| ₹ 7,00,000 | ₹ 1,50,000 | ₹ 23,400 | ₹ 33,800 | ₹ (-)10,400 |
| ₹ 7,00,000 | ₹ 2,00,000 | ₹ Nil | ₹ 33,800 | ₹ (-)33,800 |
| ₹ 7,50,000 | ₹ Nil | ₹ 65,000 | ₹ 39,000 | ₹ 26,000 |
| ₹ 7,50,000 | ₹ 50,000 | ₹ 54,600 | ₹ 39,000 | ₹ 15,600 |
| ₹ 7,50,000 | ₹ 1,00,000 | ₹ 44,200 | ₹ 39,000 | ₹ 5,200 |
| ₹ 7,50,000 | ₹ 1,50,000 | ₹ 33,800 | ₹ 39,000 | ₹ (-)5,200 |
| ₹ 7,50,000 | ₹ 2,00,000 | ₹ 23,400 | ₹ 39,000 | ₹ (-)15,600 |
| ₹ 7,50,000 | ₹ 2,50,000 | ₹ Nil | ₹ 39,000 | ₹ (-)39,000 |
| ₹ 8,00,000 | ₹ Nil | ₹ 75,400 | ₹ 46,800 | ₹ 28,600 |
| ₹ 8,00,000 | ₹ 50,000 | ₹ 65,000 | ₹ 46,800 | ₹ 18,200 |
| ₹ 8,00,000 | ₹ 1,00,000 | ₹ 54,600 | ₹ 46,800 | ₹ 7,800 |
| ₹ 8,00,000 | ₹ 1,50,000 | ₹ 44,200 | ₹ 46,800 | ₹ (-)2,600 |
| ₹ 8,00,000 | ₹ 2,00,000 | ₹ 33,800 | ₹ 46,800 | ₹ (-)13,000 |
| ₹ 8,00,000 | ₹ 2,50,000 | ₹ 23,400 | ₹ 46,800 | ₹ (-)23,400 |
| ₹ 8,00,000 | ₹ 3,00,000 | ₹ Nil | ₹ 46,800 | ₹ (-)46,800 |
| ₹ 8,50,000 | ₹ Nil | ₹ 85,800 | ₹ 54,600 | ₹ 31,200 |
| ₹ 8,50,000 | ₹ 50,000 | ₹ 75,400 | ₹ 54,600 | ₹ 20,800 |
| ₹ 8,50,000 | ₹ 1,00,000 | ₹ 65,000 | ₹ 54,600 | ₹ 10,400 |
| ₹ 8,50,000 | ₹ 1,50,000 | ₹ 54,600 | ₹ 54,600 | ₹ Nil |
| ₹ 8,50,000 | ₹ 2,00,000 | ₹ 44,200 | ₹ 54,600 | ₹ (-)10,400 |
| ₹ 8,50,000 | ₹ 2,50,000 | ₹ 33,800 | ₹ 54,600 | ₹ (-)20,800 |
| ₹ 8,50,000 | ₹ 3,00,000 | ₹ 23,400 | ₹ 54,600 | ₹ (-)31,200 |
| ₹ 8,50,000 | ₹ 3,50,000 | ₹ Nil | ₹ 54,600 | ₹ (-)54,600 |
| ₹ 9,00,000 | ₹ Nil | ₹ 96,200 | ₹ 62,400 | ₹ 33,800 |
| ₹ 9,00,000 | ₹ 50,000 | ₹ 85,800 | ₹ 62,400 | ₹ 23,400 |
| ₹ 9,00,000 | ₹ 1,00,000 | ₹ 75,400 | ₹ 62,400 | ₹ 13,000 |
| ₹ 9,00,000 | ₹ 1,50,000 | ₹ 65,000 | ₹ 62,400 | ₹ 2,600 |
| ₹ 9,00,000 | ₹ 2,00,000 | ₹ 54,600 | ₹ 62,400 | ₹ (-)7,800 |
| ₹ 9,00,000 | ₹ 2,50,000 | ₹ 44,200 | ₹ 62,400 | ₹ (-)18,200 |
| ₹ 9,00,000 | ₹ 3,00,000 | ₹ 33,800 | ₹ 62,400 | ₹ (-)28,600 |
| ₹ 9,00,000 | ₹ 3,50,000 | ₹ 23,400 | ₹ 62,400 | ₹ (-)39,000 |
| ₹ 9,50,000 | ₹ Nil | ₹ 1,06,600 | ₹ 70,200 | ₹ 36,400 |
| ₹ 9,50,000 | ₹ 50,000 | ₹ 96,200 | ₹ 70,200 | ₹ 26,000 |
| ₹ 9,50,000 | ₹ 1,00,000 | ₹ 85,800 | ₹ 70,200 | ₹ 15,600 |
| ₹ 9,50,000 | ₹ 1,50,000 | ₹ 75,400 | ₹ 70,200 | ₹ 5,200 |
| ₹ 9,50,000 | ₹ 2,00,000 | ₹ 65,000 | ₹ 70,200 | ₹ (-)5,200 |
| ₹ 9,50,000 | ₹ 2,50,000 | ₹ 54,600 | ₹ 70,200 | ₹ (-)15,600 |
| ₹ 9,50,000 | ₹ 3,00,000 | ₹ 44,200 | ₹ 70,200 | ₹ (-)26,000 |
| ₹ 9,50,000 | ₹ 3,50,000 | ₹ 33,800 | ₹ 70,200 | ₹ (-)36,400 |
| ₹ 10,00,000 | ₹ Nil | ₹ 1,17,000 | ₹ 78,000 | ₹ 39,000 |
| ₹ 10,00,000 | ₹ 50,000 | ₹ 1,06,600 | ₹ 78,000 | ₹ 28,600 |
| ₹ 10,00,000 | ₹ 1,00,000 | ₹ 96,200 | ₹ 78,000 | ₹ 18,200 |
| ₹ 10,00,000 | ₹ 1,50,000 | ₹ 85,800 | ₹ 78,000 | ₹ 7,800 |
| ₹ 10,00,000 | ₹ 2,00,000 | ₹ 75,400 | ₹ 78,000 | ₹ (-)2,600 |
| ₹ 10,00,000 | ₹ 2,50,000 | ₹ 65,000 | ₹ 78,000 | ₹ (-)13,000 |
| ₹ 10,00,000 | ₹ 3,00,000 | ₹ 54,600 | ₹ 78,000 | ₹ (-)23,400 |
| ₹ 10,00,000 | ₹ 3,50,000 | ₹ 44,200 | ₹ 78,000 | ₹ (-)33,800 |
| Age |
Between 60 Years to 79 Years (Senior Citizen) |
|||
| Estimated Annual Income (Not applicable for any Income with special rates) | Less Exemptions/ Deductions (Deductions and Exemptions eligible as per Old regime) | Compare Tax for F.Y. 2020-21 under Existing & New Regime | ||
| Tax Payable as per Old Regime | Tax Payable as per New Regime | Tax Benefit as per new Regime | ||
| ₹ 5,00,000 | ₹ Nil | ₹ Nil | ₹ Nil | ₹ Nil |
| ₹ 5,50,000 | ₹ Nil | ₹ 20,800 | ₹ 18,200 | ₹ 2,600 |
| ₹ 5,50,000 | ₹ 50,000 | ₹ Nil | ₹ 18,200 | ₹ (-)18,200 |
| ₹ 6,00,000 | ₹ Nil | ₹ 31,200 | ₹ 23,400 | ₹ 7,800 |
| ₹ 6,00,000 | ₹ 50,000 | ₹ 20,800 | ₹ 23,400 | ₹ (-)2,600 |
| ₹ 6,00,000 | ₹ 1,00,000 | ₹ Nil | ₹ 23,400 | ₹ (-)23,400 |
| ₹ 6,50,000 | ₹ Nil | ₹ 41,600 | ₹ 28,600 | ₹ 13,000 |
| ₹ 6,50,000 | ₹ 50,000 | ₹ 31,200 | ₹ 28,600 | ₹ 2,600 |
| ₹ 6,50,000 | ₹ 1,00,000 | ₹ 20,800 | ₹ 28,600 | ₹ (-)7,800 |
| ₹ 6,50,000 | ₹ 1,50,000 | ₹ Nil | ₹ 28,600 | ₹ (-)28,600 |
| ₹ 7,00,000 | ₹ Nil | ₹ 52,000 | ₹ 33,800 | ₹ 18,200 |
| ₹ 7,00,000 | ₹ 50,000 | ₹ 41,600 | ₹ 33,800 | ₹ 7,800 |
| ₹ 7,00,000 | ₹ 1,00,000 | ₹ 31,200 | ₹ 33,800 | ₹ (-)2,600 |
| ₹ 7,00,000 | ₹ 1,50,000 | ₹ 20,800 | ₹ 33,800 | ₹ (-)13,000 |
| ₹ 7,00,000 | ₹ 2,00,000 | ₹ Nil | ₹ 33,800 | ₹ (-)33,800 |
| ₹ 7,50,000 | ₹ Nil | ₹ 62,400 | ₹ 39,000 | ₹ 23,400 |
| ₹ 7,50,000 | ₹ 50,000 | ₹ 52,000 | ₹ 39,000 | ₹ 13,000 |
| ₹ 7,50,000 | ₹ 1,00,000 | ₹ 41,600 | ₹ 39,000 | ₹ 2,600 |
| ₹ 7,50,000 | ₹ 1,50,000 | ₹ 31,200 | ₹ 39,000 | ₹ (-)7,800 |
| ₹ 7,50,000 | ₹ 2,00,000 | ₹ 20,800 | ₹ 39,000 | ₹ (-)18,200 |
| ₹ 7,50,000 | ₹ 2,50,000 | ₹ Nil | ₹ 39,000 | ₹ (-)39,000 |
| ₹ 8,00,000 | ₹ Nil | ₹ 72,800 | ₹ 46,800 | ₹ 26,000 |
| ₹ 8,00,000 | ₹ 50,000 | ₹ 62,400 | ₹ 46,800 | ₹ 15,600 |
| ₹ 8,00,000 | ₹ 1,00,000 | ₹ 52,000 | ₹ 46,800 | ₹ 5,200 |
| ₹ 8,00,000 | ₹ 1,50,000 | ₹ 41,600 | ₹ 46,800 | ₹ (-)5,200 |
| ₹ 8,00,000 | ₹ 2,00,000 | ₹ 31,200 | ₹ 46,800 | ₹ (-)15,600 |
| ₹ 8,00,000 | ₹ 2,50,000 | ₹ 20,800 | ₹ 46,800 | ₹ (-)26,000 |
| ₹ 8,00,000 | ₹ 3,00,000 | ₹ Nil | ₹ 46,800 | ₹ (-)46,800 |
| ₹ 8,50,000 | ₹ Nil | ₹ 83,200 | ₹ 54,600 | ₹ 28,600 |
| ₹ 8,50,000 | ₹ 50,000 | ₹ 72,800 | ₹ 54,600 | ₹ 18,200 |
| ₹ 8,50,000 | ₹ 1,00,000 | ₹ 62,400 | ₹ 54,600 | ₹ 7,800 |
| ₹ 8,50,000 | ₹ 1,50,000 | ₹ 52,000 | ₹ 54,600 | ₹ (-)2,600 |
| ₹ 8,50,000 | ₹ 2,00,000 | ₹ 41,600 | ₹ 54,600 | ₹ (-)13,000 |
| ₹ 8,50,000 | ₹ 2,50,000 | ₹ 31,200 | ₹ 54,600 | ₹ (-)23,400 |
| ₹ 8,50,000 | ₹ 3,00,000 | ₹ 20,800 | ₹ 54,600 | ₹ (-)33,800 |
| ₹ 8,50,000 | ₹ 3,50,000 | ₹ Nil | ₹ 54,600 | ₹ (-)54,600 |
| ₹ 9,00,000 | ₹ Nil | ₹ 93,600 | ₹ 62,400 | ₹ 31,200 |
| ₹ 9,00,000 | ₹ 50,000 | ₹ 83,200 | ₹ 62,400 | ₹ 20,800 |
| ₹ 9,00,000 | ₹ 1,00,000 | ₹ 72,800 | ₹ 62,400 | ₹ 10,400 |
| ₹ 9,00,000 | ₹ 1,50,000 | ₹ 62,400 | ₹ 62,400 | ₹ Nil |
| ₹ 9,00,000 | ₹ 2,00,000 | ₹ 52,000 | ₹ 62,400 | ₹ (-)10,400 |
| ₹ 9,00,000 | ₹ 2,50,000 | ₹ 41,600 | ₹ 62,400 | ₹ (-)20,800 |
| ₹ 9,00,000 | ₹ 3,00,000 | ₹ 31,200 | ₹ 62,400 | ₹ (-)31,200 |
| ₹ 9,00,000 | ₹ 3,50,000 | ₹ 20,800 | ₹ 62,400 | ₹ (-)41,600 |
| ₹ 9,50,000 | ₹ Nil | ₹ 1,04,000 | ₹ 70,200 | ₹ 33,800 |
| ₹ 9,50,000 | ₹ 50,000 | ₹ 93,600 | ₹ 70,200 | ₹ 23,400 |
| ₹ 9,50,000 | ₹ 1,00,000 | ₹ 83,200 | ₹ 70,200 | ₹ 13,000 |
| ₹ 9,50,000 | ₹ 1,50,000 | ₹ 72,800 | ₹ 70,200 | ₹ 2,600 |
| ₹ 9,50,000 | ₹ 2,00,000 | ₹ 62,400 | ₹ 70,200 | ₹ (-)7,800 |
| ₹ 9,50,000 | ₹ 2,50,000 | ₹ 52,000 | ₹ 70,200 | ₹ (-)18,200 |
| ₹ 9,50,000 | ₹ 3,00,000 | ₹ 41,600 | ₹ 70,200 | ₹ (-)28,600 |
| ₹ 9,50,000 | ₹ 3,50,000 | ₹ 31,200 | ₹ 70,200 | ₹ (-)39,000 |
| ₹ 10,00,000 | ₹ Nil | ₹ 1,14,400 | ₹ 78,000 | ₹ 36,400 |
| ₹ 10,00,000 | ₹ 50,000 | ₹ 1,04,000 | ₹ 78,000 | ₹ 26,000 |
| ₹ 10,00,000 | ₹ 1,00,000 | ₹ 93,600 | ₹ 78,000 | ₹ 15,600 |
| ₹ 10,00,000 | ₹ 1,50,000 | ₹ 83,200 | ₹ 78,000 | ₹ 5,200 |
| ₹ 10,00,000 | ₹ 2,00,000 | ₹ 72,800 | ₹ 78,000 | ₹ (-)5,200 |
| ₹ 10,00,000 | ₹ 2,50,000 | ₹ 62,400 | ₹ 78,000 | ₹ (-)15,600 |
| ₹ 10,00,000 | ₹ 3,00,000 | ₹ 52,000 | ₹ 78,000 | ₹ (-)26,000 |
| ₹ 10,00,000 | ₹ 3,50,000 | ₹ 41,600 | ₹ 78,000 | ₹ (-)36,400 |
| Age |
Above 79 Years (Super Senior Citizen) |
|||
| Estimated Annual Income (Not applicable for any Income with special rates) | Less Exemptions/ Deductions (Deductions and Exemptions eligible as per Old regime) | Compare Tax for F.Y. 2020-21 under Existing & New Regime | ||
| Tax Payable as per Old Regime | Tax Payable as per New Regime | Tax Benefit as per new Regime | ||
| ₹ 5,00,000 | ₹ Nil | ₹ Nil | ₹ Nil | ₹ Nil |
| ₹ 5,50,000 | ₹ Nil | ₹ 10,400 | ₹ 18,200 | ₹ (-)7,800 |
| ₹ 5,50,000 | ₹ 50,000 | ₹ Nil | ₹ 18,200 | ₹ (-)18,200 |
| ₹ 6,00,000 | ₹ Nil | ₹ 20,800 | ₹ 23,400 | ₹ (-)2,600 |
| ₹ 6,00,000 | ₹ 50,000 | ₹ 10,400 | ₹ 23,400 | ₹ (-)13,000 |
| ₹ 6,00,000 | ₹ 1,00,000 | ₹ Nil | ₹ 23,400 | ₹ (-)23,400 |
| ₹ 6,50,000 | ₹ Nil | ₹ 31,200 | ₹ 28,600 | ₹ 2,600 |
| ₹ 6,50,000 | ₹ 50,000 | ₹ 20,800 | ₹ 28,600 | ₹ (-)7,800 |
| ₹ 6,50,000 | ₹ 1,00,000 | ₹ 10,400 | ₹ 28,600 | ₹ (-)18,200 |
| ₹ 6,50,000 | ₹ 1,50,000 | ₹ Nil | ₹ 28,600 | ₹ (-)28,600 |
| ₹ 7,00,000 | ₹ Nil | ₹ 41,600 | ₹ 33,800 | ₹ 7,800 |
| ₹ 7,00,000 | ₹ 50,000 | ₹ 31,200 | ₹ 33,800 | ₹ (-)2,600 |
| ₹ 7,00,000 | ₹ 1,00,000 | ₹ 20,800 | ₹ 33,800 | ₹ (-)13,000 |
| ₹ 7,00,000 | ₹ 1,50,000 | ₹ 10,400 | ₹ 33,800 | ₹ (-)23,400 |
| ₹ 7,00,000 | ₹ 2,00,000 | ₹ Nil | ₹ 33,800 | ₹ (-)33,800 |
| ₹ 7,50,000 | ₹ Nil | ₹ 52,000 | ₹ 39,000 | ₹ 13,000 |
| ₹ 7,50,000 | ₹ 50,000 | ₹ 41,600 | ₹ 39,000 | ₹ 2,600 |
| ₹ 7,50,000 | ₹ 1,00,000 | ₹ 31,200 | ₹ 39,000 | ₹ (-)7,800 |
| ₹ 7,50,000 | ₹ 1,50,000 | ₹ 20,800 | ₹ 39,000 | ₹ (-)18,200 |
| ₹ 7,50,000 | ₹ 2,00,000 | ₹ 10,400 | ₹ 39,000 | ₹ (-)28,600 |
| ₹ 7,50,000 | ₹ 2,50,000 | ₹ Nil | ₹ 39,000 | ₹ (-)39,000 |
| ₹ 8,00,000 | ₹ Nil | ₹ 62,400 | ₹ 46,800 | ₹ 15,600 |
| ₹ 8,00,000 | ₹ 50,000 | ₹ 52,000 | ₹ 46,800 | ₹ 5,200 |
| ₹ 8,00,000 | ₹ 1,00,000 | ₹ 41,600 | ₹ 46,800 | ₹ (-)5,200 |
| ₹ 8,00,000 | ₹ 1,50,000 | ₹ 31,200 | ₹ 46,800 | ₹ (-)15,600 |
| ₹ 8,00,000 | ₹ 2,00,000 | ₹ 20,800 | ₹ 46,800 | ₹ (-)26,000 |
| ₹ 8,00,000 | ₹ 2,50,000 | ₹ 10,400 | ₹ 46,800 | ₹ (-)36,400 |
| ₹ 8,00,000 | ₹ 3,00,000 | ₹ Nil | ₹ 46,800 | ₹ (-)46,800 |
| ₹ 8,50,000 | ₹ Nil | ₹ 72,800 | ₹ 54,600 | ₹ 18,200 |
| ₹ 8,50,000 | ₹ 50,000 | ₹ 62,400 | ₹ 54,600 | ₹ 7,800 |
| ₹ 8,50,000 | ₹ 1,00,000 | ₹ 52,000 | ₹ 54,600 | ₹ (-)2,600 |
| ₹ 8,50,000 | ₹ 1,50,000 | ₹ 41,600 | ₹ 54,600 | ₹ (-)13,000 |
| ₹ 8,50,000 | ₹ 2,00,000 | ₹ 31,200 | ₹ 54,600 | ₹ (-)23,400 |
| ₹ 8,50,000 | ₹ 2,50,000 | ₹ 20,800 | ₹ 54,600 | ₹ (-)33,800 |
| ₹ 8,50,000 | ₹ 3,00,000 | ₹ 10,400 | ₹ 54,600 | ₹ (-)44,200 |
| ₹ 8,50,000 | ₹ 3,50,000 | ₹ Nil | ₹ 54,600 | ₹ (-)54,600 |
| ₹ 9,00,000 | ₹ Nil | ₹ 83,200 | ₹ 62,400 | ₹ 20,800 |
| ₹ 9,00,000 | ₹ 50,000 | ₹ 72,800 | ₹ 62,400 | ₹ 10,400 |
| ₹ 9,00,000 | ₹ 1,00,000 | ₹ 62,400 | ₹ 62,400 | ₹ Nil |
| ₹ 9,00,000 | ₹ 1,50,000 | ₹ 52,000 | ₹ 62,400 | ₹ (-)10,400 |
| ₹ 9,00,000 | ₹ 2,00,000 | ₹ 41,600 | ₹ 62,400 | ₹ (-)20,800 |
| ₹ 9,00,000 | ₹ 2,50,000 | ₹ 31,200 | ₹ 62,400 | ₹ (-)31,200 |
| ₹ 9,00,000 | ₹ 3,00,000 | ₹ 20,800 | ₹ 62,400 | ₹ (-)41,600 |
| ₹ 9,00,000 | ₹ 3,50,000 | ₹ 10,400 | ₹ 62,400 | ₹ (-)52,000 |
| ₹ 9,50,000 | ₹ Nil | ₹ 93,600 | ₹ 70,200 | ₹ 23,400 |
| ₹ 9,50,000 | ₹ 50,000 | ₹ 83,200 | ₹ 70,200 | ₹ 13,000 |
| ₹ 9,50,000 | ₹ 1,00,000 | ₹ 72,800 | ₹ 70,200 | ₹ 2,600 |
| ₹ 9,50,000 | ₹ 1,50,000 | ₹ 62,400 | ₹ 70,200 | ₹ (-)7,800 |
| ₹ 9,50,000 | ₹ 2,00,000 | ₹ 52,000 | ₹ 70,200 | ₹ (-)18,200 |
| ₹ 9,50,000 | ₹ 2,50,000 | ₹ 41,600 | ₹ 70,200 | ₹ (-)28,600 |
| ₹ 9,50,000 | ₹ 3,00,000 | ₹ 31,200 | ₹ 70,200 | ₹ (-)39,000 |
| ₹ 9,50,000 | ₹ 3,50,000 | ₹ 20,800 | ₹ 70,200 | ₹ (-)49,400 |
| ₹ 10,00,000 | ₹ Nil | ₹ 1,04,000 | ₹ 78,000 | ₹ 26,000 |
| ₹ 10,00,000 | ₹ 50,000 | ₹ 93,600 | ₹ 78,000 | ₹ 15,600 |
| ₹ 10,00,000 | ₹ 1,00,000 | ₹ 83,200 | ₹ 78,000 | ₹ 5,200 |
| ₹ 10,00,000 | ₹ 1,50,000 | ₹ 72,800 | ₹ 78,000 | ₹ (-)5,200 |
| ₹ 10,00,000 | ₹ 2,00,000 | ₹ 62,400 | ₹ 78,000 | ₹ (-)15,600 |
| ₹ 10,00,000 | ₹ 2,50,000 | ₹ 52,000 | ₹ 78,000 | ₹ (-)26,000 |
| ₹ 10,00,000 | ₹ 3,00,000 | ₹ 41,600 | ₹ 78,000 | ₹ (-)36,400 |
| ₹ 10,00,000 | ₹ 3,50,000 | ₹ 31,200 | ₹ 78,000 | ₹ (-)46,800 |
Note:
This Comparison is only meant to provide a basic idea of the estimated impact of the new Income Tax provisions. Refer to the Income Tax Provisions for the actual provisions and eligibility.
All tax calculations (includes cess) are excluding Surcharge & Total Eligible Exemptions / Deductions are assumed to be Zero in New Regime
View/Download Ready Reckoner – Comparison of Income Tax under Existing and New Regime (PDF)
Please visit Official Calculator available at Income Tax of India Website
https://www.incometaxindiaefiling.gov.in/Tax_Calculator/index.html?lang=eng
Income Tax Rates is available at Budget 2020- Income Tax Relief for Individuals. Please feel free to comment to improve the article.
COMMENTS
Whether option certificate is required to be given by pensioners for opting to new Income tax regime or not
Option facility will be introduce with e-filing