Income Tax Calculator for ₹20 Lakh Salary
Calculate your tax liability under both old and new tax regimes for FY 2025-26. See exactly how much you can save.
Your Salary Details
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Deductions (Old Regime)
₹
₹
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₹
New Regime Tax
₹1,92,400
Lower slabs + ₹75k standard deduction
Old Regime Tax
₹1,85,640
With all deductions
Tax Savings
₹0
New regime is better
Better Regime
old
Based on your deductions
Detailed Breakdown
New Tax Regime
Gross Salary: ₹20,00,000
Standard Deduction: ₹75,000
Taxable Income: ₹19,25,000
Tax: ₹1,85,000
Cess (4%): ₹7,400
Total Tax: ₹1,92,400
Old Tax Regime
Gross Salary: ₹20,00,000
HRA Exemption: ₹3,80,000
Standard Deduction: ₹50,000
Total Deductions: ₹7,80,000
Taxable Income: ₹12,20,000
Total Tax: ₹1,85,640
How to Use This Calculator
- 1. Your gross salary of ₹20,00,000 is pre-filled. Adjust if needed.
- 2. Under New Regime: Taxable = ₹20,00,000 - ₹75,000 = ₹19,25,000 → ~₹2,12,000 tax
- 3. Under Old Regime: With ₹3,50,000 deductions, taxable = ₹16,50,000 → ~₹2,00,000 tax
- 4. Compare both regimes to see which saves you more money.
Frequently Asked Questions
Updated: April 2026