Old vs New Tax Regime Calculator Excel
Comparison of Old vs New Tax Regime Calculator in Excel: Over the past few years, Indian taxpayers have found both tax regimes beneficial. Each regime provides different advantages. Each regime offers convenience.
The choice between the two regimes largely depends on individual circumstances and specific requirements. However, it appears highly improbable that both regimes will remain in effect in the foreseeable future.
In the context of simultaneous implementation of two tax regimes, individuals must discern the most advantageous regime. This decision should consider their specific circumstances and financial status.
Today, we will explore the Old vs New Tax Regime Calculator Excel. This is a valuable tool that empowers users to make informed decisions. It helps minimize their tax liability to the extent feasible.
The reason for introducing the new tax regime should be made very clear. It aims to reduce the various tax deductions. We are still eligible to claim these under the old tax regime.
Over time, the availability of tax deductions will likely decrease. Income tax slabs will increase under the new tax regime. It is quite likely that this will be the only tax regime to prevail in the future.
Old VS New Tax Regime Calculator – Deductions not allowed under New Tax Regime:
As per Section 115BAC, a taxpayer choosing the new income tax regime is not eligible to claim the following income tax deductions which were earlier allowed under the old tax regime:
- Leave travel concession U/S 10(5);
- House rent allowance U/S 10(13A);
- Allowance for the income of minor as contained in section 10(32);
- Entertainment allowance and Professional tax as contained in U/S 16;
- Deduction on account of Interest paid U/S 24 i.r.o self-occupied house property;
- Savings Bank Interest U/S 80TTA and 80TTB;
- Set off of carried forward losses and Depreciation are not permitted now;
- Deductions under chapter VIA such as section 80C, 80CCC, 80CCD, 80D, 80DD, 80DDB, 80E, 80EE, 80EEA, 80EEB, 80G, 80GG, 80GGA, 80GGC, 80IA, 80-IAB, 80-IAC, 80-IB, 80-IBA.
Old vs New Tax Regime Calculator Online – Deductions which are allowed under New Tax Regime:
- Leave travel concession U/S 10(5);
- Standard Deduction of Rs. 75,000/- introduced in the new tax regime and applicable w.e.f 1st April 2025;
- Exemption on Terminal or Leave encashment at retirement up to Rs. 25,00,000/- U/S 10(10AA);
- Allowance for the income of a minor as contained in section 10(32);
- Transport Allowance for a specially-abled person;
- Deduction on account of Interest paid U/S 24 i.r.o Let-out house property;
- Daily Allowance/ Conveyance Allowance/ Perquisites for Official Tours;
- Employer’s contribution to NPS applicable from F.Y 2022-23;
- Any amount of contributions to Agniveer Corpus Fund U/S 80CCH;
Old Tax Regime vs New Tax Regime Calculator
Old vs New Tax Regime – FY 2025–26
- Encourages investment in tax-saving instruments
- Existing income tax deductions are allowable
- Standard deduction of ₹50,000 for salaried employees
- Professional tax deduction allowed (max ₹2,500)
- Housing loan interest allowed under Section 24(b) (max ₹2,00,000)
- Only 3 tax slabs: 5%, 20%, 30%
- Tax rebate available for income up to ₹5 Lakh
- Maximum tax rebate: ₹12,500
- Basic exemption limit: ₹2.5 Lakh
- Deductions under Chapter VIA are allowed
- Discourages investment in tax-saving instruments
- Major existing deductions are disallowed
- Standard deduction of ₹75,000 introduced in Budget 2025
- Professional tax deductions are not allowed
- Housing loan interest (self-occupied) not allowed under Section 24(b)
- 6 tax slabs: 5%, 10%, 15%, 20%, 25%, 30%
- Tax rebate available for income up to ₹12 Lakh
- Maximum tax rebate: ₹60,000
- Basic exemption limit: ₹4 Lakh
- No deductions under Chapter VIA (except NPS & Agniveer contribution)
Income Tax Calculation Old vs New
This is very important to know that from F.Y 2023-24, the new tax regime has been the default tax regime. Your tax calculation will be based on the new tax regime. If you want to choose the old tax regime, you need to submit one declaration to your employer.
Old vs New Tax Regime Calculator Excel
Old vs New Tax Regime Calculator Excel– This calculator will help you decide the best-suited tax regime for you. It depends upon the data you put in the Excel calculator. You need not calculate anything here, the Excel calculator will automatically calculate your probable taxes under both tax regimes.
Income Tax Slab for FY 2025-26 (AY 2026-27) as per the Old Tax Regime
| Tax Rate | Individual Taxpayer (Below 60 Years) |
Senior Citizen (60 to 80 Years) |
Super Senior Citizen (Above 80 Years) |
|---|---|---|---|
| NIL | Up to ₹2,50,000 | Up to ₹3,00,000 | Up to ₹5,00,000 |
| 5% | ₹2,50,001 – ₹5,00,000 | ₹3,00,001 – ₹5,00,000 | NIL |
| 10% | ₹5,00,001 – ₹7,50,000 | ₹5,00,001 – ₹7,50,000 | ₹5,00,001 – ₹7,50,000 |
| 15% | ₹7,50,001 – ₹10,00,000 | ₹7,50,001 – ₹10,00,000 | ₹7,50,001 – ₹10,00,000 |
| 20% | ₹10,00,001 – ₹12,50,000 | ₹10,00,001 – ₹12,50,000 | ₹10,00,001 – ₹12,50,000 |
| 25% | ₹12,50,001 – ₹15,00,000 | ₹12,50,001 – ₹15,00,000 | ₹12,50,001 – ₹15,00,000 |
| 30% | Above ₹15,00,000 | Above ₹15,00,000 | Above ₹15,00,000 |
Income Tax Slab for FY 2025-26 (AY 2026-27)-New Tax Regime
| Income Slab (₹) | Tax Rate |
|---|---|
| ₹0 – ₹4,00,000 | 0% |
| ₹4,00,001 – ₹8,00,000 | 5% |
| ₹8,00,001 – ₹12,00,000 | 10% |
| ₹12,00,001 – ₹16,00,000 | 15% |
| ₹16,00,001 – ₹20,00,000 | 20% |
| ₹20,00,001 – ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
Old vs New Tax Regime Calculator Online: Income Tax Calculation Old vs New
Income Tax Calculator for FY 2025–26
| Particulars | Amount |
|---|---|
| Gross Salary | |
| HRA Exemption (Old Regime only) | |
| LTA Exemption (Old Regime only) | |
| Home Loan Interest (Self‑Occupied) | |
| Home Loan Interest (Let‑Out) | |
| Other Income | |
| STCG (Section 111A) | |
| LTCG (Section 112A) | |
| 80C Deductions | |
| 80CCD(1B) | |
| 80CCD(2) | |
| 80D – Medical Insurance |
| Summary | Old Regime | New Regime |
|---|---|---|
| Net Taxable Income | ||
| Slab Tax | ||
| Rebate u/s 87A | ||
| STCG @15% | ||
| LTCG @12.5% after 1.25L | ||
| Surcharge | ||
| Cess @4% | ||
| Total Tax | ||
| Better Regime | ||
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