Excel Old vs New Tax Regime Calculator to compare Tax under old and new Personal Tax Regime u/s 115BAC for AY 2025-26. Old vs new tax regime calculator in excel.
Release of excel tax calculator for New Tax Regime for AY 2025-26. This Excel Calculator utility has been made to compare Tax under existing old and new Personal Tax Regime u/s 115BAC. The scheme of New Tax Regime was introduced by the Union Budget 2023-24 when everybody was expecting tax benefits in the form of substantial increase in basic threshold of income tax exemption and increase in deductions particularly in Section 80C of the Income Tax Act, 1961.
Income Tax slabs for AY 2025-26 (FY 2026-27) as announced by Finance Minister in her Budget Speech as as under:
| Upto Rs 4.00 lakhs | Nil |
| Income more than Rs. 4 lakhs up to 8 lakh | 5% |
| Income more than Rs. 8 lakhs up to 12 lakh | 10% |
| Income more than 12 lakhs upto 16 lakhs | 15% |
| Income more than 16 lakhs up to 20 lakhs | 20% |
| Income more than 20 lakhs up to 24 lakhs | 25% |
| Income more than 24 lakhs | 30% |
No tax is payable under New Tax Regime up to total income of Rs. 12 lakhs after Section 87A rebate. Click here to know more >>
From AY 2024-25 the new tax regime has been made the default one. For the AY 2024-25, the tax slabs and rate of taxes under New Simplified Personal Income Tax Regime was as under:
| Up to Rs. 3 lakhs | Nil |
| Income more than Rs. 3 lakhs up to 6 lakh | 5% |
| Income more than Rs. 6 lakhs up to 9 lakh | 10% |
| Income more than 9 lakhs upto 12 lakhs | 15% |
| Income more than 12 lakhs up to 15 lakhs | 20% |
| Income above Rs. 15 Lkahs | 30% |
The Union Budget 2024 slightly amended the above tax slabs and rates for the AY 2025-26 as under:
| Up to Rs. 3 lakhs | Nil |
| Income more than Rs. 3 lakhs up to 7 lakh | 5% |
| Income more than Rs. 7 lakhs up to 10 lakh | 10% |
| Income more than 10 lakhs upto 12 lakhs | 15% |
| Income more than 12 lakhs up to 15 lakhs | 20% |
| Income above Rs. 15 Lkahs | 30% |
Also, a higher Standard Deduction of Rs. 75000/- was made available for salaried employees under New Tax Regime as against the limit of Rs. 50000/- for those choosing old tax regime.
Unlike the existing tax regime consisting of three taxable slabs with minimum tax rate of 5% and highest being 30%, the New Tax Regime consists of five taxable brackets with minimum tax rate of 5% with 5% incremental rise for each higher tax brackets except for fifth slab where incremental rise is 10%..
A comparative chart of the tax brackets and rates under both Regime is as under:
| Tax Brackets | Tax rate (Existing Regime) | Tax Rate (New Regime) |
| Upto Rs 2.50 Lakhs | Nil | Nil |
| From > Rs. 2.50 lakhs to Rs. 3.00 lakhs | Nil | 5% |
| From > Rs 3 Lakhs to Rs 5 Lakhs | 5% | 5% |
| From > Rs. 5 lakhs to Rs. 7 lakhs | 5% | 20% |
| From >Rs. 7 lakhs to Rs. 10 Lakhs | 10% | 20% |
| From > Rs. 10 lakh to Rs. 12 Lakhs | 15% | 30% |
| From Rs 12 Lakhs to Rs 15 Lakh | 20% | 30% |
| Above Rs 15 Lakhs | 30% | 30% |
Under the New Tax Regime, the assessee shall not be entitled to most of the exemptions and deductions that a common taxpayers has relied upon extensively not only to make investments but also to plan and reduce his tax. The notable deductions/exemptions that would be unavailable in the new Tax Regime include standard deduction on salaries, housing loan interest, section 80C deductions (for insurance premium, P.F., tuition fees, etc.) etc.
The decision to choose New Tax Regime or not is totally at the wisdom of the assessee.
The ABCAUS Excel calculator compares tax incidence under the old tax regime and the New Simplified Personal Tax Regime and attempts to provide a handy tool to the taxpayers to choose their course of action in future.
If the users get a security risk message like the following:
Right click on the excel file icon and check the box as under:
Personal Tax Regime is now default one. Consequence & precautions for tax payers Read More >> |
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View Comments
If total brokerage / commission income is Rs. 10 lakh can i show total net income of Rs. 80,000/- or 6% / 8% only
you are required to show the real profit earned not just 6% or 8%. These % are indicator of minimum profit only
Standard Deduction on salary income Rs. 50000 FY 2024-25 under new tax regime not considered.
thanks. updated now
Std deduction should be 50000
download updated version
Standard deduction shown in your excel file is restricted to 40000/- , is it not be 50000/-
corrected