Compare New Regime vs Old Regime and see exactly which saves you more this year.
If your total deductions (80C + 80D + HRA + NPS etc.) exceed ~₹3.75 lakh, the old regime usually saves more. Below that threshold, the new regime's lower rates win. This calculator does the maths for you.
Under the new regime, a ₹75,000 standard deduction applies automatically from FY 2024-25 (up from ₹50,000). The old regime also allows ₹50,000 standard deduction for salaried employees.
Yes — the Section 87A rebate makes effective tax zero for income up to ₹7 lakh under the new regime (and up to ₹5 lakh under the old regime).
Surcharge applies above ₹50 lakh: 10% (₹50L–₹1Cr), 15% (₹1Cr–₹2Cr), 25% (₹2Cr–₹5Cr), 25% (above ₹5Cr under new regime). This calculator shows the base tax; consult a CA for surcharge on high incomes.
Salaried individuals can switch every year at the time of filing. Business owners can only switch once from old to new regime.