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US federal & state income tax brackets, FICA withholdings, and capital gains.
Compare tax liability between Old and New Tax Regime for FY 2024-25 & FY 2025-26 with Section 87A rebate.
Calculate inclusive and exclusive GST amounts with CGST and SGST splits for all GST tax slabs (5%, 12%, 18%, 28%).
Side-by-side comparison of tax liability under Old vs New Tax Regime for FY 2024-25 & FY 2025-26.
Calculate 2025/2026 US federal tax brackets, FICA Social Security & Medicare, state tax, and net take-home salary.
For the majority of salaried taxpayers with total deductions under ₹3.75 Lakh (such as 80C, 80D, and home loan interest), the New Tax Regime is more advantageous due to lower slab rates and the ₹75,000 standard deduction.
Under the New Tax Regime, resident individuals with total taxable income up to ₹7,00,000 receive a maximum tax rebate of ₹25,000 under Section 87A, resulting in zero net income tax liability.
Budget 2024 increased the standard deduction for salaried employees and pensioners under the New Tax Regime from ₹50,000 to ₹75,000. The Old Regime retains the ₹50,000 standard deduction.
No. Common exemptions like Section 80C (PPF, ELSS, LIC), Section 80D (health insurance), and HRA are foregone under the New Tax Regime in exchange for significantly lower baseline slab rates.