Earning ₹15 LPA? Pick the Right Tax Regime
If you earn ₹15 lakh a year, choosing between old and new tax regime can mean a difference of over ₹1 lakh in your pocket. Here is how to figure out which one works better for you.
₹1 lakh saved in taxes = 833 cups of chai every single month ☕
Your correct tax regime choice can save you this much annually
Key Takeaways
Calculate your total eligible deductions (80C + HRA + 80D + home loan interest) — if they exceed ₹3.75 lakh, old regime likely wins.
Submit your tax regime declaration to your employer NOW before the financial year payroll is locked — you cannot switch midyear easily.
Use the income tax department's free online calculator at incometax.gov.in to compare exact tax outgo under both regimes for your salary.
If you earn ₹15 lakh a year, choosing between old and new tax regime can mean a difference of over ₹1 lakh in your pocket. Here is how to figure out which one works better for you.
Here's what happened: Under the new regime, ₹15 LPA earners pay tax at slab rates with no deductions but enjoy a lower base rate structure from FY2024-25.. The old regime allows deductions like ₹1.5L under 80C, ₹25,000 under 80D, and HRA — which can dramatically lower your taxable income.. From FY2024-25, the new regime is the default: your employer uses it unless you explicitly opt for the old regime before the deadline..
What you should do: Calculate your total eligible deductions (80C + HRA + 80D + home loan interest) — if they exceed ₹3.75 lakh, old regime likely wins.. Submit your tax regime declaration to your employer NOW before the financial year payroll is locked — you cannot switch midyear easily.. Use the income tax department's free online calculator at incometax.gov.in to compare exact tax outgo under both regimes for your salary..
Pro tip: If you have a home loan with ₹2L+ annual interest AND max out 80C, the old regime almost always saves more tax at ₹15 LPA — do the math before defaulting.
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- [1]“Earning 15 LPA? Here's how much you can save in taxes in new and old regime” mint - money · 24 Jun 2026
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