Income Tax on 15 Lakh Salary

How ₹15,00,000 is taxed under the new regime

For a salaried taxpayer earning ₹15,00,000 a year, the ₹75,000 standard deduction brings taxable income to ₹14,25,000. Slab tax on that amount works out to ₹93,750, well past the point where marginal relief would still help — the ₹12,00,000 rebate threshold is too far below this income level to matter here.

After 4% Health & Education Cess, the final new-regime tax payable is ₹97,500.

The old regime comparison

Under the old regime, the same ₹15,00,000 salary (₹50,000 standard deduction, no other itemized deductions claimed) results in taxable income of ₹14,50,000 and a total tax payable of ₹2,57,400.

The two regimes break even once old-regime deductions (beyond the standard deduction) reach roughly ₹5,93,748 — below that level the new regime wins; above it, the old regime does.

What this means month to month

Spread across twelve months, the new-regime figure of ₹97,500 works out to roughly ₹8,125 a month in tax deducted at source, against ₹21,450 a month under the old regime with only the standard deduction claimed. An employer's TDS calculation should track whichever regime the employee has actually declared for the year — a mismatch between the declared regime and the one actually used at filing time is a common, avoidable reconciliation headache come return season.