Old Tax Regime Calculator

Calculate income tax under the old tax regime with all deductions — 80C, 80D, HRA, NPS, home loan interest, and more. Age-based slabs for senior and super senior citizens. Maximize your tax savings with deduction planning.

12.00 Lakhs
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HRA Details

0
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0
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0
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Deductions
0
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0
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0
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0
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0
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0
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Prefer lower rates without deductions?

Try New Tax Regime CalculatorCompare Old vs New Regime
Total Tax Payable (Old Regime)
₹1,63,800
1.64 Lakh
Monthly: ₹13,650
Save 1.64 Lakh in New
13.7% Effective Rate
₹10,36,200
10.36 Lakhs • Take-Home
₹1,63,800
1.64 Lakh • Tax
You Keep 86%
14% Tax
Total Deductions
₹50,000
50K
Effective Tax Rate
13.65%
of gross income
Monthly Take-Home
₹86,350
86K
Annual Take-Home
₹10,36,200
10.36 Lakhs

Tax Calculation Breakdown

Step-by-step computation under the old tax regime with deductions

Gross Income₹12,00,000(12.00 Lakhs)
Standard Deduction- ₹50,000
Taxable Income₹11,50,000(11.50 Lakhs)
Tax on Income₹1,57,500(1.57 Lakh)
Tax After Rebate₹1,57,500(1.57 Lakh)
Cess (4%)+ ₹6,300
Total Tax Payable₹1,63,800(1.64 Lakh)

Slab-wise Tax Breakdown (Old Regime — Below 60)

How your income is taxed at each slab rate

Income SlabRateTax
₹0 – ₹2,50,0000%₹0
₹2,50,000 – ₹5,00,0005%₹12,500
₹5,00,000 – ₹10,00,00020%₹1,00,000
₹10,00,000 – Above30%₹45,000
Total₹1,57,500

Old Tax Regime Slabs — All Age Groups

Age-based slab rates with higher exemptions for senior citizens

Below 60
Up to ₹2.5LNil
₹2.5L – ₹5L5%
₹5L – ₹10L20%
Above ₹10L30%
Senior (60-80)
Up to ₹3LNil
₹3L – ₹5L5%
₹5L – ₹10L20%
Above ₹10L30%
Super Senior (80+)
Up to ₹5LNil
₹5L – ₹10L20%
Above ₹10L30%

Standard deduction: ₹50,000 for salaried. 87A rebate: Up to ₹12,500 for taxable income ≤ ₹5L.

All Deductions Under the Old Regime

Maximize your tax savings by claiming every eligible deduction

Section 80C

₹1.5 Lakh

EPF, PPF (7.1%), ELSS (3-year lock-in), NSC, SCSS, life insurance premium, tuition fees (2 children), home loan principal, 5-year tax-saving FD, Sukanya Samriddhi (8.2%).

80CCD(1B) — NPS

₹50,000

Additional NPS contribution beyond 80C. Total NPS benefit: ₹1.5L (80C) + ₹50K (80CCD(1B)) = ₹2 Lakh.

Section 80D — Health Insurance

up to ₹1 Lakh

₹25K self/family (₹50K if senior) + ₹25K parents (₹50K if senior parents). Total up to ₹1L if both are senior.

Section 24(b) — Home Loan Interest

₹2 Lakh

Interest on home loan for self-occupied property (₹2L cap). This calculator models the self-occupied limit. One of the biggest deductions for home owners.

HRA Exemption

formula

Min of: HRA received, rent paid − 10% of Basic+DA, or 50%/40% of Basic+DA (metro/non-metro). Only for salaried paying rent.

80TTA / 80TTB

₹10K / ₹50K

80TTA: ₹10K on savings interest (below 60). 80TTB: ₹50K on all deposit interest (senior citizens 60+).

Section 80E — Education Loan

no cap

Interest on education loan — deductible for 8 years from first repayment. No upper limit on the amount.

Maximize Your Tax Savings — Priority Order

A deduction-by-deduction strategy to reduce your tax liability

1

Max out 80C — ₹1.5L

Save ₹46,800

EPF (automatic) + PPF (7.1% guaranteed) + ELSS (equity exposure, 3-year lock-in)

2

Health Insurance — 80D

Save ₹31,200

Self + parents. Senior parents = ₹50K. Total up to ₹1 Lakh.

3

NPS — 80CCD(1B) ₹50K

Save ₹15,600

Extra ₹50K beyond 80C limit. Additional retirement savings.

4

HRA + Home Loan

Save ₹62,400+

HRA for renters + Section 24(b) up to ₹2L for home loan interest.

Maximum possible deductions: 80C (₹1.5L) + 80CCD(1B) (₹50K) + 80D (₹1L) + 24(b) (₹2L) + HRA (varies) + Standard Deduction (₹50K) = ₹5.5 Lakh+ before HRA. With HRA in a metro, total can exceed ₹7–8 Lakhs. Savings at 30% slab: ₹1.7L+ tax saved.

When Is the Old Regime Better?

Scenarios where the old regime saves you more tax

Salaried with HRA + 80C + 80D claims exceeding ₹3.75L
Home owners paying EMI — Section 24(b) gives ₹2L interest deduction
Families insuring self + senior citizen parents (80D up to ₹1L)
NPS investors claiming both 80C and 80CCD(1B) — ₹2L total
Senior citizens — higher tax-free limit + 80TTB (₹50K on deposit interest)
Education loan holders — 80E has no cap on interest deduction

Important

The old regime is not the default since FY 2023-24. You must explicitly select it while filing ITR. Salaried individuals can switch every year. Business owners can switch only once.

Frequently Asked Questions

Common questions about the old tax regime in India

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