Old vs new: Soon, I-T portal may show which tax regime's best for you

The system will also compare the two schemes in an easy-to-understand format, said another source

The income-tax (I-T) department is working on a system-driven mechanism that will generate the calculation of both the old and the new tax scheme based on income and investment of taxpayers, helping them make an informed choice. 

The move will help the government achieve its target of making two-thirds, or 50-60 per cent, of taxpayers switch to the new regime in the next fiscal year. 

“While filing income-tax returns (ITR), the system will automatically generate the total money taxpayers will save on both schemes, helping them choose the one most beneficial to them,” said a senior government official.

The official