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Income Tax Ready Reckoner Table FY 2020-21

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

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