![]() ![]() ![]() Tax Slab Rates to calculate Income Tax FY 2022-23Īs seen above, New Tax regime has reduced tax slab rates which means you will be paying less income tax, if you are not opting for any investment deductions. ![]() Old Tax Regime vs New Tax Regime Slab Ratesīelow is the table showing Old and New Tax Slab Rates for FY 2022-23: Income In this way, the calculator can help you to compare your tax outgo and by iteratively entering the investment amount, you can decide how much you can invest more to pay less income tax if selecting Old Tax Regime.50,000 is only available in Old Tax Regime, and not in New Tax Regime This means that Standard Deductions of Rs.This is because new tax regime are reduced tax slab rates. New Tax Regime does not allow you to claim any investment deductions to save income tax.It is important to note that investment deductions are available only in Old Tax Regime.You should select tax regime based on which you’ll be paying less income tax. Based on the calculations, you can choose which Tax regime you should choose.This income tax calculator helps you to understand your income tax based on Old and New Tax Regime.How this Income Tax Calculator in Excel helps you? ![]()
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