ओल्ड टैक्स रिजीम इनकम टैक्स कैलकुलेटर

Standard Deduction

Fixed amount of ₹50,000 available to all salaried individuals. No documentation needed.

Section 80C (Max: ₹1.5L)

• • EPF (Employee Provident Fund) - 12% of basic salary
• • PPF (Public Provident Fund) - Long-term savings
• • ELSS (Equity Linked Savings Scheme) - Tax-saving mutual funds
• • Life Insurance Premium - Term and traditional plans
• • Home Loan Principal Repayment
• • Tuition Fees for up to 2 children
• • Tax-saving Fixed Deposits (5-year lock-in)

Section 80CCD(1B) - NPS

Additional ₹50,000 deduction for contribution to National Pension System (NPS). This is over and above the ₹1.5L limit of Section 80C.

Section 80D - Medical Insurance

• • Self & Family: Up to ₹25,000
• • Parents (Non-Senior Citizens): Up to ₹25,000
• • Parents (Senior Citizens): Up to ₹50,000
• • Preventive Health Check-up: Up to ₹5,000 (included in above limits)

HRA Exemption

Minimum of:

• • Actual HRA received from employer
• • 50% of basic salary (for metro cities)
• • 40% of basic salary (for non-metro cities)
• • Actual rent paid minus 10% of basic salary

Metro cities: Delhi NCR, Mumbai, Chennai, Kolkata, Hyderabad, Bangalore

Section 80EEA - Home Loan Interest

• • Additional ₹1.5L deduction for first-time home buyers
• • Loan sanctioned between Apr 2019 - Mar 2022
• • Property value up to ₹45L
• • This is over and above Section 24 interest deduction

Section 80E - Education Loan Interest

• • No upper limit on deduction
• • Available for self, spouse, or children
• • Covers all fields of study
• • Available for 8 years from first repayment