📐 Formula Used
Tax = Slab-wise calculation on taxable income Old: Standard deduction ₹50,000 + 80C + HRA + others New: Standard deduction ₹75,000 only
Frequently Asked Questions
What is the new tax regime for FY 2025-26?
The new tax regime has slabs: 0% up to ₹3L, 5% (₹3L–7L), 10% (₹7L–10L), 15% (₹10L–12L), 20% (₹12L–15L), 30% above ₹15L. Rebate u/s 87A gives zero tax for income up to ₹7L.
Which regime is better – old or new?
If your deductions (80C, HRA, home loan, etc.) exceed ₹3–3.5 lakh, the old regime may save more. Otherwise the new regime is simpler and often better.
What is standard deduction?
In the new regime, a standard deduction of ₹75,000 (FY 2024-25 onwards) is available for salaried individuals and pensioners.
Is surcharge applicable?
Yes. Surcharge applies on income above ₹50L: 10% (₹50L–1Cr), 15% (₹1Cr–2Cr), 25% (₹2Cr–5Cr), 37% (above ₹5Cr — capped at 25% for new regime).