Tax Summary at a Glance
| Parameter | New Regime | Old Regime |
|---|---|---|
| Gross Income | Rs.30,00,000 | Rs.30,00,000 |
| Standard Deduction | Rs.75,000 | Rs.50,000 |
| Section 80C Deductions | Not Available | Rs.1,50,000 |
| HRA Exemption (estimated) | Not Available | Rs.1,00,000 |
| Taxable Income | Rs.29,25,000 | Rs.27,00,000 |
| Total Tax (incl. cess) | Rs.5,90,200 | Rs.6,47,400 |
| Effective Tax Rate | 19.7% | 21.6% |
New regime is better at 30 LPA: New regime saves Rs.57,200
New Regime: Slab-Wise Tax Calculation
Standard deduction of Rs.75,000. Taxable income: Rs.29,25,000
| Income Slab | Rate | Taxable Amount | Tax |
|---|---|---|---|
| 0-3 Lakh | 0% | Rs.3,00,000 | Rs.0 |
| 3-7 Lakh | 5% | Rs.4,00,000 | Rs.20,000 |
| 7-10 Lakh | 10% | Rs.3,00,000 | Rs.30,000 |
| 10-12 Lakh | 15% | Rs.2,00,000 | Rs.30,000 |
| 12-15 Lakh | 20% | Rs.3,00,000 | Rs.60,000 |
| Above 15 Lakh | 30% | Rs.14,25,000 | Rs.4,27,500 |
Total tax before cess: Rs.5,67,500. Health & Education Cess (4%): Rs.22,700. Total tax: Rs.5,90,200
Calculate Your Exact Tax Liability
Your tax depends on your specific deductions and investments. Use our calculator to compare both regimes for your exact situation.
Use Tax CalculatorFrequently Asked Questions
How much tax do I pay on 30 LPA salary?
Under the new regime, tax on 30 LPA is approximately Rs.5,90,200. Under the old regime with Section 80C and HRA deductions, it is approximately Rs.6,47,400. The new regime saves you Rs.57,200.
Which tax regime is better at 30 LPA?
New regime is generally better at 30 LPA, saving Rs.57,200 annually. However, if you have additional deductions like home loan interest (Section 24b), NPS (80CCD), or health insurance (80D), the old regime may save more. Use our calculator for your exact scenario.
What is the effective tax rate at 30 LPA?
The effective tax rate (tax as percentage of gross income) is 19.7% under new regime and 21.6% under old regime (with deductions). This is much lower than the marginal slab rate because of deductions and lower slabs on initial income.
Can I switch between tax regimes every year?
Yes, salaried individuals can choose between old and new regime every financial year. You can inform your employer about your choice at the beginning of the year for TDS purposes, and finalize when filing your return.