New vs old regime tax comparison — 100% free, runs in your browser
Since the new regime became the default, the practical question for most salaried people is which of the two costs less. That depends entirely on how much you claim in deductions. This compares both side by side so you can see the crossover point for your own numbers.
If your deductions are small, the new regime almost always wins because of its lower rates and higher rebate. Heavy deductions — home loan interest, full 80C, HRA — can still favour the old regime.
Under the old regime: 80C investments, 80D health insurance, HRA, home loan interest and others. The new regime allows very few, which is the whole trade-off.
No, treat it as an estimate. It uses the current slabs with cess and standard deduction, but excludes surcharge on very high incomes and any special situations. Confirm with a tax professional before filing.