Old Tax Regime vs New Tax Regime
Old Tax Regime vs New Tax Regime
Old Tax Regime மற்றும் New Tax Regime இரண்டும் வருமான வரிக்கு. இரண்டிற்கும் இடையே வித்தியாசங்கள் உள்ளன. எது எப்போது பொருத்தம் என்பதை அறிந்து கொள்ளலாம். இந்த கட்டுரையில், இரண்டு tax regimes பற்றிய முழுமையான comparison பார்க்கலாம்.
Old Tax Regime
Tax Slabs (FY 2023-24)
Old Tax Regime இல் tax slabs:
| Income Range | Tax Rate |
|---|---|
| Up to ₹2.5 lakh | Nil (0%) |
| ₹2.5 lakh - ₹5 lakh | 5% |
| ₹5 lakh - ₹10 lakh | 20% |
| Above ₹10 lakh | 30% |
Additional Charges:
- Health and Education Cess: 4% on tax
- Surcharge: Applicable on higher incomes
Deductions Available
Old Tax Regime இல் deductions கிடைக்கிறது:
- Section 80C: ₹1.5 lakh (PPF, ELSS, Life Insurance, etc.)
- Section 80D: Health Insurance premiums
- Section 24: Home Loan interest (up to ₹2 lakh)
- HRA: House Rent Allowance exemption
- Section 80G: Donations
- Section 80E: Education Loan interest
- Section 80TTA/TTB: Interest on savings
- Standard Deduction: ₹50,000 (from FY 2019-20)
- Other Deductions: Various other deductions
Old Tax Regime - Detailed Example
Scenario: Annual Income ₹10,00,000
Deductions:
- Section 80C: ₹1,50,000
- Section 80D: ₹25,000
- Section 24 (Home Loan Interest): ₹2,00,000
- HRA: ₹1,00,000
- Standard Deduction: ₹50,000
- Total Deductions: ₹5,25,000
Tax Calculation:
- Gross Income: ₹10,00,000
- Total Deductions: ₹5,25,000
- Taxable Income: ₹4,75,000
Tax on Taxable Income:
- Up to ₹2,50,000: Nil
- ₹2,50,001 - ₹4,75,000 (₹2,25,000): 5% = ₹11,250
- Total Tax: ₹11,250
- Cess (4%): ₹450
- Total Tax Payable: ₹11,700
New Tax Regime
Tax Slabs (FY 2023-24)
New Tax Regime இல் tax slabs:
| Income Range | Tax Rate |
|---|---|
| Up to ₹3 lakh | Nil (0%) |
| ₹3 lakh - ₹7 lakh | 5% |
| ₹7 lakh - ₹10 lakh | 10% |
| ₹10 lakh - ₹12 lakh | 15% |
| ₹12 lakh - ₹15 lakh | 20% |
| Above ₹15 lakh | 30% |
Additional Charges:
- Health and Education Cess: 4% on tax
- Surcharge: Applicable on higher incomes
Deductions Available
New Tax Regime இல் பெரும்பாலான deductions கிடைக்காது:
- Standard Deduction: ₹50,000 (available)
- Section 80CCD(2): Employer contribution to NPS
- Section 80JJAA: Employment of new employees
- Other Deductions: Very limited
Not Available:
- Section 80C (PPF, ELSS, etc.)
- Section 80D (Health Insurance)
- Section 24 (Home Loan Interest)
- HRA
- Most other deductions
New Tax Regime - Detailed Example
Scenario: Annual Income ₹10,00,000
Deductions:
- Standard Deduction: ₹50,000
- Total Deductions: ₹50,000
Tax Calculation:
- Gross Income: ₹10,00,000
- Total Deductions: ₹50,000
- Taxable Income: ₹9,50,000
Tax on Taxable Income:
- Up to ₹3,00,000: Nil
- ₹3,00,001 - ₹7,00,000 (₹4,00,000): 5% = ₹20,000
- ₹7,00,001 - ₹9,50,000 (₹2,50,000): 10% = ₹25,000
- Total Tax: ₹45,000
- Cess (4%): ₹1,800
- Total Tax Payable: ₹46,800
Old Tax Regime vs New Tax Regime - Comparison
Tax Slabs Comparison
| Income Range | Old Regime | New Regime |
|---|---|---|
| Up to ₹2.5/3 lakh | 0% | 0% |
| ₹2.5-5/3-7 lakh | 5% | 5% |
| ₹5-10/7-10 lakh | 20% | 10% |
| ₹10-12 lakh | 30% | 15% |
| ₹12-15 lakh | 30% | 20% |
| Above ₹15 lakh | 30% | 30% |
Deductions Comparison
| Deduction | Old Regime | New Regime |
|---|---|---|
| Section 80C | Available | Not Available |
| Section 80D | Available | Not Available |
| Section 24 | Available | Not Available |
| HRA | Available | Not Available |
| Standard Deduction | ₹50,000 | ₹50,000 |
| Other Deductions | Many Available | Very Limited |
Example Comparison
Annual Income: ₹10,00,000
| Particulars | Old Regime | New Regime |
|---|---|---|
| Gross Income | ₹10,00,000 | ₹10,00,000 |
| Deductions | ₹5,25,000 | ₹50,000 |
| Taxable Income | ₹4,75,000 | ₹9,50,000 |
| Tax Payable | ₹11,700 | ₹46,800 |
| Savings | ₹35,100 | - |
Conclusion: Old Regime beneficial in this case (with deductions).
எது எப்போது பொருத்தம்?
Old Tax Regime பொருத்தம்
Old Tax Regime பின்வருவோருக்கு பொருத்தம்:
- High Deductions: Deductions ₹2-3 lakh க்கு மேல் செய்பவர்கள்
- Home Loan: Home loan interest payments
- Insurance: High insurance premiums
- Investments: Regular investments (PPF, ELSS, etc.)
- HRA: HRA receiving employees
- Multiple Deductions: Multiple deduction sources
Example Scenarios:
- Home loan interest: ₹2 lakh
- Section 80C investments: ₹1.5 lakh
- Health insurance: ₹25,000
- HRA: ₹1 lakh
- Total Deductions: ₹4.75 lakh+
New Tax Regime பொருத்தம்
New Tax Regime பின்வருவோருக்கு பொருத்தம்:
- Low Deductions: Deductions ₹50,000 க்கு கீழ்
- No Home Loan: No home loan interest
- Minimal Insurance: Low insurance premiums
- No Investments: No tax-saving investments
- No HRA: Not receiving HRA
- Simple Calculation: Simple tax calculation preferred
Example Scenarios:
- Standard Deduction only: ₹50,000
- No other deductions
- Total Deductions: ₹50,000
Tax Regime Selection - Step-by-Step Guide
How to Choose?
-
Calculate Old Regime Tax
- Gross Income calculate செய்யவும்
- All deductions calculate செய்யவும்
- Taxable income calculate செய்யவும்
- Tax calculate செய்யவும்
-
Calculate New Regime Tax
- Gross Income calculate செய்யவும்
- Standard Deduction only: ₹50,000
- Taxable income calculate செய்யவும்
- Tax calculate செய்யவும்
-
Compare Both
- Both tax amounts compare செய்யவும்
- Lower tax regime select செய்யவும்
-
Consider Other Factors
- Investment goals
- Financial planning
- Long-term benefits
Tax Regime Switching
Can You Switch?
- Annual Choice: ஒவ்வொரு ஆண்டும் tax regime choose செய்யலாம்
- ITR Filing: ITR filing இல் regime select செய்யலாம்
- No Restriction: No restriction on switching
How to Switch?
-
ITR Filing
- Income Tax portal இல் ITR file செய்யவும்
- Tax regime select செய்யவும்
- Old Regime அல்லது New Regime choose செய்யவும்
-
Salary Employees
- Employer notify செய்யவும்
- Form 12BB submit செய்யவும் (for Old Regime)
- TDS accordingly adjust ஆகும்
Tax Calculation Tools
Online Calculators
- Income Tax Portal: https://www.incometax.gov.in
- Tax Calculator: Portal இல் tax calculator available
- Comparison Tools: Both regimes compare செய்யலாம்
Manual Calculation
- Tax slabs use செய்யவும்
- Deductions calculate செய்யவும்
- Tax calculate செய்யவும்
- Cess add செய்யவும்
Tax Regime - Tips மற்றும் Best Practices
Annual Review
- Every year both regimes calculate செய்யவும்
- Lower tax regime select செய்யவும்
- Financial situation changes consider செய்யவும்
Investment Planning
- Old Regime choose செய்தால், investments plan செய்யவும்
- Section 80C, 80D investments make செய்யவும்
- Tax-saving investments utilize செய்யவும்
Professional Advice
- Complex situations இல் tax consultant consult செய்யவும்
- Financial advisor advice seek செய்யவும்
- Accurate calculations ensure செய்யவும்
Tax Regime - Common Questions
Which Regime is Better?
Both regimes better ஆகும், depends on individual situation:
- High deductions → Old Regime
- Low deductions → New Regime
- Calculate both and compare
Can I Switch Every Year?
ஆம், ஒவ்வொரு ஆண்டும் tax regime switch செய்யலாம். No restriction.
What if I Don't Choose?
Default New Regime apply ஆகும். Explicitly Old Regime choose செய்ய வேண்டும்.
முடிவு
Old Tax Regime மற்றும் New Tax Regime இரண்டிற்கும் இடையே வித்தியாசங்கள் உள்ளன. உங்கள் சூழ்நிலையைப் பொறுத்து எது பொருத்தம் என்பதை தீர்மானிக்கலாம். Both regimes calculate செய்து, lower tax regime select செய்யலாம்.
அடிக்கடி கேட்கப்படும் கேள்விகள் (FAQ)
Old Tax Regime vs New Tax Regime என்ன வித்தியாசம்?
Old Tax Regime:
- Tax slabs: Up to ₹2.5L (0%), ₹2.5-5L (5%), ₹5-10L (20%), Above ₹10L (30%)
- Deductions: Many deductions available (80C, 80D, 24, HRA, etc.)
New Tax Regime:
- Tax slabs: Up to ₹3L (0%), ₹3-7L (5%), ₹7-10L (10%), ₹10-12L (15%), ₹12-15L (20%), Above ₹15L (30%)
- Deductions: Very limited (Standard Deduction ₹50,000 only)
எது எப்போது பொருத்தம்?
Old Tax Regime:
- High deductions (₹2-3L+) செய்பவர்கள்
- Home loan, insurance, investments செய்பவர்கள்
- HRA receiving employees
New Tax Regime:
- Low deductions (₹50,000 only) செய்பவர்கள்
- No home loan, minimal insurance
- Simple tax calculation preferred
Detailed Calculation Example?
Annual Income: ₹10,00,000
Old Regime:
- Deductions: ₹5,25,000 (80C, 80D, 24, HRA, Standard)
- Taxable: ₹4,75,000
- Tax: ₹11,700
New Regime:
- Deductions: ₹50,000 (Standard only)
- Taxable: ₹9,50,000
- Tax: ₹46,800
Savings in Old Regime: ₹35,100
New Tax Regime இல் deductions கிடைக்குமா?
பெரும்பாலான deductions கிடைக்காது. Standard Deduction ₹50,000 மட்டும் available. Section 80CCD(2), 80JJAA போன்ற few deductions available.
Tax Regime மாற்றலாமா?
ஆம், ஒவ்வொரு ஆண்டும் tax regime switch செய்யலாம். ITR filing இல் regime select செய்யலாம். No restriction on switching.
How to Choose Tax Regime?
- Both regimes calculate செய்யவும்
- Tax amounts compare செய்யவும்
- Lower tax regime select செய்யவும்
- Other factors (investments, planning) consider செய்யவும்
Salary Employees எப்படி Choose செய்வது?
Salary employees:
- Employer notify செய்யவும்
- Form 12BB submit செய்யவும் (for Old Regime)
- TDS accordingly adjust ஆகும்
- ITR filing இல் final regime select செய்யலாம்
குறிப்பு: இந்த தகவல் கல்வி நோக்கத்திற்காக மட்டுமே. இது நிதி ஆலோசனை அல்ல. வரி பற்றிய கேள்விகளுக்கு, தகுதிவாய்ந்த Tax ஆலோசகரிடம் ஆலோசனை பெறலாம்.
குறிப்பு: இந்த தகவல் கல்வி நோக்கத்திற்காக மட்டுமே. இது நிதி ஆலோசனை அல்ல. எந்தவொரு நிதி முடிவையும் எடுப்பதற்கு முன், தகுதிவாய்ந்த நிதி ஆலோசகரிடம் ஆலோசனை பெறுங்கள்.