Old Tax Regime

Basic Salary (50% of Annual CTC) 750,000

Annual CTC
EPF Employer's Contribution 1,500,000
(12% of Basic, upto 7.5 Lakh p.a.) 90,000
Gross Salary 1,410,000
Exemptions
[Min. of HRA, under Sec 10of (Basic+DA),
Rent-10%
50%/ 40%Education
Children's of (Basic+DA) for Metros/
Allowance Non-Metros]
(2 Kids) 300,000
(Rs. 100 per
Children's kid p.m.)
Hostel Allowance (2 Kids) 0
(Rs. 300 per kid p.m.) 0
LTA (Twice in 4 years)
Reimbursements 50,000
(Meal Coupons, Internet/ Mobile Bills, Car Lease etc.) 0
Net Salary 1,060,000
Deductions
Standard
Loss fromDeduction
let out property upto 2 lakhs 50,000
(Rent - Property
NSC, Post Office FD, Tax5- Yr
30%FD,Rent- Interest)
Tuition Fee, NPS Sec 200,000
80CCD (1A)) 150,000
Sec 80CCD(1B)
(Employer's - Additionalupto
Contribution NPS10%/
(upto14%
50,000)
of 50,000
Basic+DA, upto 7.5 lakh p.a.) 75,000
Sec 80D - Health Insurance Premium 50,000
Sec 80EEB
Sec 80E - Interest
- Interestonon
Education
EV LoanLoan (no limit)
2019-23, 0
(upto 1.5 Lakhs) 0
Taxable Income 485,000

Tax Slabs - Old Regime

Income Slab Tax Rate
₹0 - ₹2,50,000 Nil
₹2,50,001 - ₹5,00,000 5%
₹5,00,001 - ₹10,00,000 20%
> ₹10,00,000
Note: Tax rebate upto ₹ 5Lakh, so tax becomes 0 if 30%
Taxable Income < ₹ 5Lakh
 New Tax Regime
Basic Salary (50% of Annual CTC) 750,000
Annual CTC
EPF Employer's Contribution 1,500,000
(12% of Basic, upto 7.5 Lakh p.a.) 90,000
Gross Salary 1,410,000
Exemptions
[Min. of HRA, under Sec 10of (Basic+DA),
Rent-10%
50%/ 40%Education
Children's of (Basic+DA) for Metros/
Allowance Non-Metros]
(2 Kids) NA
(Rs. 100 per
Children's kid p.m.)
Hostel Allowance (2 Kids) NA
(Rs. 300 per kid p.m.) NA
LTA (Twice in 4 years)
Reimbursements NA
(Meal Coupons, Internet/ Mobile Bills, Car Lease etc.) 0
Net Salary 1,410,000
Deductions
Standard
Loss fromDeduction
let out property upto 2 lakhs 50,000
(Rent - Property
NSC, Post Office FD, Tax5- Yr
30%FD,Rent- Interest)
Tuition Fee, NPS Sec NA
80CCD (1A)) NA
Sec 80CCD(1B)
(Employer's - Additionalupto
Contribution NPS10%/
(upto14%
50,000)
of NA
Basic+DA, upto 7.5 lakh p.a.) 75,000
Sec 80D - Health Insurance Premium (upto 1 lakh) NA
Sec 80EEB
Sec 80E - Interest
- Interestonon
Education
EV LoanLoan (no limit)
2019-23, NA
(upto 1.5 Lakhs) NA
Taxable Income 1,285,000

Tax Slabs - New Regime

Income Slab Tax Rate
₹0 - ₹3,00,000 Nil
₹3,00,001 - ₹6,00,000 5%
₹6,00,001 - ₹9,00,000 10%
₹9,00,001 - ₹12,00,000 15%
₹12,00,001 - ₹15,00,000 20%
> ₹15,00,000
Note: Tax rebate upto ₹ 7Lakh, so tax becomes 0 if 30%
Taxable Income < ₹ 7Lakh