Income Tax Calculator (Old Regime)

The old income tax regime, available as an optional choice from FY 2023-24 onwards, remains highly beneficial for individuals with substantial deductible expenses and investments. This regime allows multiple deductions under various Income Tax Act sections, including Section 80C (investments up to 150000 rupees), Section 80D (health insurance up to 200000 rupees), Section 80E (education loan interest unlimited), and Section 80G (charitable donations 50-100%). The old regime's higher tax rates are more than offset when total deductions exceed 200000 rupees annually. Salaried employees with life insurance policies, PPF/ELSS investments, health insurance premiums, or education loan obligations should calculate their tax under both regimes to determine savings. This calculator automatically processes all eligible deductions and applies the old regime's graduated tax slabs, showing you whether staying in the old regime offers genuine savings compared to the new regime's simpler but restrictive structure.