Income Tax Ready Reckoner Comparison Table between New and Old regime calculation of the Financial Year 2020-21 for Government Employees in India. The table shows the tax in the old and new regimes for individual annual income from 5 lakh to 12 lakh.
| Annual Income (Rs.) | Exemptions and Deductions as per old regime | Tax Payable as per old regime (Rs.) | Tax Payable as per new regime (Rs.) |
| 5,00,000 | Nil | Nil | Nil |
| 5,50,000 | Nil | 23,400 | 18,200 |
| 6,00,000 | Nil | 33,800 | 23,400 |
| 6,50,000 | Nil | 44,200 | 28,600 |
| 7,00,000 | Nil | 54,600 | 33,800 |
| 7,50,000 | Nil | 65,000 | 39,000 |
| 8,00,000 | Nil | 75,400 | 46,800 |
| 8,50,000 | Nil | 85,800 | 54,600 |
| 9,00,000 | Nil | 96,200 | 62,400 |
| 9,50,000 | Nil | 1,06,600 | 70,200 |
| 10,00,000 | Nil | 1,17,000 | 78,000 |
| 10,50,000 | Nil | 1,32,600 | 88,400 |
| 11,00,000 | Nil | 1,48,200 | 98,800 |
| 11,50,000 | Nil | 1,79,400 | 1,19,600 |
| 12,00,000 | Nil | 1,95,000 | 1,30,000 |
Ready Reckoner List of Income Tax for FY 2020-21 under Existing and New Regime
Individual below 60 years – Estimated Annual Income: Rs. 6,00,000
- Tax as per Old Regime: Rs. 33,800
- Tax as per Old Regime: Rs. 23,400
- Tax Benefit as per New Regime: Rs. 10,400
Individual between 60 to 79 years – Estimated Annual Income: Rs. 6,00,000
- Tax as per Old Regime: Rs. 31,200
- Tax as per Old Regime: Rs. 23,400
- Tax Benefit as per New Regime: Rs. 7,800
Individual above 79 years – Estimated Annual Income: Rs. 6,00,000
- Tax as per Old Regime: Rs. 20,800
- Tax as per Old Regime: Rs. 23,400
- Tax Benefit as per New Regime: Rs. 2,600
Individual below 60 years – Estimated Annual Income: Rs. 6,50,000
- Tax as per Old Regime: Rs. 44,200
- Tax as per Old Regime: Rs. 28,600
- Tax Benefit as per New Regime: Rs. 15,600
Individual between 60 to 79 years – Estimated Annual Income: Rs. 6,50,000
- Tax as per Old Regime: Rs. 41,600
- Tax as per Old Regime: Rs. 28,600
- Tax Benefit as per New Regime: Rs. 13,000
Individual above 79 years – Estimated Annual Income: Rs. 6,50,000
- Tax as per Old Regime: Rs. 31,200
- Tax as per Old Regime: Rs. 28,600
- Tax Benefit as per New Regime: Rs.2600
Individual below 60 years – Estimated Annual Income: Rs. 7,00,000
- Tax as per Old Regime: Rs. 54,600
- Tax as per Old Regime: Rs.33,800
- Tax Benefit as per New Regime: Rs. 20,800
Individual between 60 to 79 years – Estimated Annual Income: Rs. 7,00,000
- Tax as per Old Regime: Rs. 52,000
- Tax as per Old Regime: Rs. 33,800
- Tax Benefit as per New Regime: Rs. 18,200
Individual above 79 years – Estimated Annual Income: Rs. 7,00,000
- Tax as per Old Regime: Rs. 41,600
- Tax as per Old Regime: Rs. 33,800
- Tax Benefit as per New Regime: Rs. 7800
Individual below 60 years – Estimated Annual Income: Rs. 7,50,000
- Tax as per Old Regime: Rs. 65,000
- Tax as per Old Regime: Rs. 39,000
- Tax Benefit as per New Regime: Rs. 26,000
Individual between 60 to 79 years – Estimated Annual Income: Rs. 7,50,000
- Tax as per Old Regime: Rs. 62,400
- Tax as per Old Regime: Rs. 39,000
- Tax Benefit as per New Regime: Rs. 23,400
Individual above 79 years – Estimated Annual Income: Rs. 7,50,000
- Tax as per Old Regime: Rs. 52,000
- Tax as per Old Regime: Rs. 39,000
- Tax Benefit as per New Regime: Rs. 13,000
Individual below 60 years – Estimated Annual Income: Rs. 8,00,000
- Tax as per Old Regime: Rs. 75,400
- Tax as per Old Regime: Rs. 46,800
- Tax Benefit as per New Regime: Rs. 28,600
Individual between 60 to 79 years – Estimated Annual Income: Rs. 8,00,000
- Tax as per Old Regime: Rs. 72,800
- Tax as per Old Regime: Rs. 46,800
- Tax Benefit as per New Regime: Rs. 26,000
Individual above 79 years – Estimated Annual Income: Rs. 8,00,000
- Tax as per Old Regime: Rs. 62,400
- Tax as per Old Regime: Rs. 46,800
- Tax Benefit as per New Regime: Rs. 15,600
Individual below 60 years – Estimated Annual Income: Rs. 8,50,000
- Tax as per Old Regime: Rs. 85,800
- Tax as per Old Regime: Rs. 54,600
- Tax Benefit as per New Regime: Rs. 31,200
Individual between 60 to 79 years – Estimated Annual Income: Rs. 8,50,00
- Tax as per Old Regime: Rs. 83,200
- Tax as per Old Regime: Rs. 54,600
- Tax Benefit as per New Regime: Rs. 28,600
Individual above 79 years – Estimated Annual Income: Rs. 8,50,000
- Tax as per Old Regime: Rs. 72,800
- Tax as per Old Regime: Rs. 54,600
- Tax Benefit as per New Regime: Rs. 18,200
Individual below 60 years – Estimated Annual Income: Rs. 9,00,000
- Tax as per Old Regime: Rs. 96,200
- Tax as per Old Regime: Rs. 62,400
- Tax Benefit as per New Regime: Rs. 33,800
Individual between 60 to 79 years – Estimated Annual Income: Rs. 9,00,000
- Tax as per Old Regime: Rs. 93,600
- Tax as per Old Regime: Rs. 62,400
- Tax Benefit as per New Regime: Rs. 31,200
Individual above 79 years – Estimated Annual Income: Rs. 9,00,000
- Tax as per Old Regime: Rs. 83,200
- Tax as per Old Regime: Rs. 62,400
- Tax Benefit as per New Regime: Rs. 20,800
Individual below 60 years – Estimated Annual Income: Rs. 9,50,000
- Tax as per Old Regime: Rs. 1,06,600
- Tax as per Old Regime: Rs. 70,200
- Tax Benefit as per New Regime: Rs. 36,400
Individual between 60 to 79 years – Estimated Annual Income: Rs. 9,50,000
- Tax as per Old Regime: Rs. 1,04,000
- Tax as per Old Regime: Rs. 70,200
- Tax Benefit as per New Regime: Rs. 33,800
Individual above 79 years – Estimated Annual Income: Rs. 9,50,000
- Tax as per Old Regime: Rs. 93,600
- Tax as per Old Regime: Rs. 70,200
- Tax Benefit as per New Regime: Rs. 23,400
Individual below 60 years – Estimated Annual Income: Rs. 10,00,000
- Tax as per Old Regime: Rs. 1,17,000
- Tax as per Old Regime: Rs. 78,000
- Tax Benefit as per New Regime: Rs. 39,000
Individual between 60 to 79 years – Estimated Annual Income: Rs. 10,00,000
- Tax as per Old Regime: Rs. 1,14,400
- Tax as per Old Regime: Rs. 78,000
- Tax Benefit as per New Regime: Rs. 36,400
Individual above 79 years – Estimated Annual Income: Rs. 10,00,000
- Tax as per Old Regime: Rs. 1,04,000
- Tax as per Old Regime: Rs. 78,000
- Tax Benefit as per New Regime: Rs. 26,000
Individual below 60 years – Estimated Annual Income: Rs. 10,50,000
- Tax as per Old Regime: Rs. 1,32,600
- Tax as per Old Regime: Rs. 88,400
- Tax Benefit as per New Regime: Rs. 44,200
Individual between 60 to 79 years – Estimated Annual Income: Rs. 10,50,000
- Tax as per Old Regime: Rs. 1,30,000
- Tax as per Old Regime: Rs. 88,400
- Tax Benefit as per New Regime: Rs. 41,600
Individual above 79 years – Estimated Annual Income: Rs. 10,50,000
- Tax as per Old Regime: Rs. 1,19,600
- Tax as per Old Regime: Rs. 88,400
- Tax Benefit as per New Regime: Rs. 31,200
Individual below 60 years – Estimated Annual Income: Rs. 11,00,000
- Tax as per Old Regime: Rs. 1,48,200
- Tax as per Old Regime: Rs. 98,800
- Tax Benefit as per New Regime: Rs. 49,400
Individual between 60 to 79 years – Estimated Annual Income: Rs. 11,00,000
- Tax as per Old Regime: Rs. 1,45,600
- Tax as per Old Regime: Rs. 98,800
- Tax Benefit as per New Regime: Rs. 46,800
Individual above 79 years – Estimated Annual Income: Rs. 11,00,000
- Tax as per Old Regime: Rs. 1,35,200
- Tax as per Old Regime: Rs. 98,800
- Tax Benefit as per New Regime: Rs. 36,400
Individual below 60 years – Estimated Annual Income: Rs. 11,50,000
- Tax as per Old Regime: Rs. 1,63,800
- Tax as per Old Regime: Rs. 1,09,200
- Tax Benefit as per New Regime: Rs. 54,600
Individual between 60 to 79 years – Estimated Annual Income: Rs. 11,50,000
- Tax as per Old Regime: Rs. 1,61,200
- Tax as per Old Regime: Rs. 1,09,200
- Tax Benefit as per New Regime: Rs. 52,000
Individual above 79 years – Estimated Annual Income: Rs. 11,50,000
- Tax as per Old Regime: Rs. 1,50,800
- Tax as per Old Regime: Rs. 1,09,200
- Tax Benefit as per New Regime: Rs. 41,600
Individual below 60 years – Estimated Annual Income: Rs. 12,00,000
- Tax as per Old Regime: Rs. 1,79,400
- Tax as per Old Regime: Rs. 1,19,600
- Tax Benefit as per New Regime: Rs. 59,800
Individual between 60 to 79 years – Estimated Annual Income: Rs. 12,00,000
- Tax as per Old Regime: Rs. 1,76,800
- Tax as per Old Regime: Rs. 1,19,600
- Tax Benefit as per New Regime: Rs. 57,200
Individual above 79 years – Estimated Annual Income: Rs. 12,00,000
- Tax as per Old Regime: Rs. 1,66,400
- Tax as per Old Regime: Rs. 1,19,600
- Tax Benefit as per New Regime: Rs. 46,800
Income Tax 2020 Calculator for Salaried (Government) Employees
Income from monthly salary, allowances, incentive, bonus and arrears from 1st April 2019 to 31st March 2020 in the financial year 2019-2020 (Assessment Year 2020-2021). Click to Calculate