As known from the very past experiences, elevated water tanks were collapsed or heavily damaged during earth quakes all over the world. These unusual events showed that the supporting system of the elevated tanks has more critical importance than the other structural types of tanks. The main aim of this project is to understand the seismic behavior of the elevated water tank and comparison of various seismic analysis parameters of the elevated reinforced concrete water tank with consideration and modeling of impulsive and convective water masses inside the container in Two Mass Model as per IS: 1893(part 2)-2002. The behavior of elevated water tanks with frame staging pattern is analyzed using from the codes IS 1893 (part 1): 2002 and IS 1893 (part 2): 2002. It can be observed from the analysis that elevated water tank with frame type of staging can perform better by following IS: 1893 (part 2): 2002 because, IS 1893 (part 1): 2002 is only for buildings and is not suitable for liquid retaining structures. The Base Shear and Overturning moments obtained from the code IS 1893 (part 1):2002 are greater than the values obtained from the code IS 1893 (part 2): 2002, this is due to the consideration of single degree of freedom in earlier code. Then finally concluded that in the earlier code the reinforcement is heavy, this will leads to uneconomical and it is considered as one of the disadvantage. From the recent code the base shear and overturning moment is less from that the reinforcement is reduced. It is very necessary to design and analyze the water tank as economical as possible. Finally the results have been presented in the form of graphs and tables.