💼 Income Tax Comparison: Old vs New Regime (u/s 115BAC)
| Particulars | Under Optional Tax Regime (Old) | Under Default Regime u/s 115 BAC (New) | |
|---|---|---|---|
| 1. | Basic Salary | xxx | xxx |
| 2. | Fees / Commission | xxx | xxx |
| 3. | Bonus | xxx | xxx |
| Allowances | |||
| (a) Dearness Allowance | Fully Taxable | Fully Taxable | |
| (b) House Rent Allowance | Exempt as per rules | Fully Taxable | |
| (c) Children Education Allowance | Exempt up to ₹100/month/child (max 2) | Fully Taxable | |
| (d) Children Hostel Allowance | Exempt up to ₹300/month/child (max 2) | Fully Taxable | |
| (e) Transport Allowance | ₹3,200/month for differently-abled | ₹3,200/month for differently-abled | |
| (f) Entertainment Allowance | Only for Govt. Employees | Not Applicable | |
| (g) Daily/Travelling Allowance | Exempt if used for official purpose | Exempt if used for official purpose | |
| (h) Other Allowances (OT, CCA, etc.) | Fully Taxable | Fully Taxable | |
| 5. | Taxable Perquisites | Taxable | Taxable |
| 6. | Leave Travel Concession | Exempt u/s 10(5) | Fully Taxable |
| 7. | Gratuity | Exempt up to ₹20 Lakhs on retirement | Same as Old |
| 8. | Pension | Commuted Pension – Exempt | Same as Old |
| 9. | Leave Encashment | Exempt up to ₹25 Lakhs on retirement | Same as Old |
| 10. | Voluntary Retirement | Exempt up to ₹5 Lakhs | Same as Old |
| 11. | Retrenchment Compensation | Exempt up to ₹5 Lakhs | Same as Old |
| 12. | Gross Salary | xxx | xxx |
| 13. | Less: Deductions u/s 16 | Std Deduction: ₹50,000 | Std Deduction: ₹75,000 |
| 14. | Income under Head Salaries | xxx | xxx |
| 15. | Deductions Under Chapter VI-A | ||
| 80C/80CCC/80CCD(1) – PPF, LIC | Max ₹1,50,000 | Not Available | |
| 80CCD(2) – Employer Pension | ₹50,000 | ₹50,000 | |
| 80D, 80DD, 80DDB – Medical, Disabled | Available | Not Available | |
| 80G – Donations | Available | Not Available | |
| 80TTA / 80TTB – Savings Interest | ₹10k/₹50k | Not Available | |
| 80U – For Disabled Individuals | ₹75,000 / ₹1,25,000 | Not Available | |
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