The income tax return (ITR) has already begun for FY25 (AY26). Meanwhile, Apple Tax Department extends deadline to file ITR for September 15, 2025, from the original defimine of July 31, 2025. There are two tax regimes: old and new. Taxpayers can choose between regimes such as their salary and investment throughout the year. In this article, let’s see an example to find out how one is planning their taxes in a better way to make their tax on Rs 15,50,000 under the new FY26 tax regime (AY27).
New Tax Regime: How to bring your tax response to Rs 15.5 Lakh annual Nil income?
To pay zero tax on Rs 15.5 lakh income under the new regime, you need to reduce your income time at Rs 12,75 standard deduction).
Let’s keep an example where an employee’s gross salary is 15.5 lakh, including a basic charge of Rs 7.75 lakh. Often, basically payments are 40-50 percent of CTC.
- Basic pay: Rs 7,75,000
- Approved fee: Rs 1,00,000
- Nps: Rs 1,08,500
- EPF: Rs 21,600 (minimum selected)
Home loans provide valuable tax benefits under old and new tax regimes, but the nature and width of these benefits varies, tell taxes.
Deletes for home loans under new tax regime
New tax regime offers lower tax rates but removes most reductions and exceptions.
Calculations to pay 0 pay tax on Rs 15,50,000 / annum
Nps
If you choose for NPS, then you can invest 14 percent of your basic salary under the new tax regime, as government rules. Limit is 10 percent of the basic salary under the old tax regime.
Rs 15,50,000 – Rs 1,08,500 (6,00,000 * 14%) = Rs 14,41,500
PERIOD
RS 14,41,500 – RS 21,600 = RS 14,1900
Approved fees
Rs 13,91,000 – Rs 1,00,000 = Rs 12,91,000
Home Loan Set-off
You can claim the tax benefit if you have rented the property and earns the income of hiring from it. In that case, you can exclude Rs 2 Lakh with interest paid from rent your income to reduce your taxes.
Rs 12,91,000 – RS 2,00,000 = Rs 10,91,000
In other words, a person can claim unlimited deductions for the interest of a home loan under the letting property and unpaid property oneself.
However the benefits of home debt have an important role, they should not be the only criteria in choosing a tax regime, tell taxpayers.
Many other reasons to fit into careful consideration.
Therefore, the tax can be 0 as we last income below Rs 12,00,000.
