A new Income Tax Calculator for Resident Individual has been put on Income Tax E-filling Web Site to Calculate Tax Benefit of New Regime and Old Regime.
You have to fill –
(2) Estimated Annual Income #
(3) Exemptions / Deductions*
This calculator is only meant to provide a basic idea of the estimated impact of the new provisions. Refer to the Income Tax Provisions for the actual provisions and eligibility
All tax calculations (includes cess) are excluding Surcharge & Total Eligible Exemptions / Deductions are assumed to be Zero in New Regime.
# Not applicable for any Income with special rates
* Deductions and Exemptions eligible as per Old regime.