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🔴Deductions Under New vs Old Tax Regime: What You Need to Know| CA Monica| தமிழ்
Published on 09-07-2024
Mail: yourauditornetwork@gmail.com
Insta id: our_ca_network
The new tax regime in India (introduced in the Union Budget 2020), taxpayers have the option to pay income tax at lower rates. However, they must forgo certain exemptions and deductions available under the old regime. Here's a brief overview:
Tax Rates under New Regime:
The new tax regime offers concessional tax rates, which are as follows:
- Income up to ₹2.5 lakh: Nil
- ₹2.5 lakh to ₹5 lakh: 5%
- ₹5 lakh to ₹7.5 lakh: 10%
- ₹7.5 lakh to ₹10 lakh: 15%
- ₹10 lakh to ₹12.5 lakh: 20%
- ₹12.5 lakh to ₹15 lakh: 25%
- Above ₹15 lakh: 30%
Deductions and Exemptions not Available under New Regime:
Taxpayers opting for the new regime have to forgo a significant number of exemptions and deductions, including:
1. House Rent Allowance (HRA)
2. Leave Travel Allowance (LTA)
3. Deductions under Section 80C: Up to ₹1.5 lakh for investments in PPF, ELSS, NSC, etc.
4. Interest on Housing Loan (Section 24): Up to ₹2 lakh on self-occupied property.
5. Deduction under Section 80D: Medical insurance premium.
6. Deduction under Section 80E: Interest on education loans.
7. Deduction under Section 80G: Donations to certain funds and charitable institutions.
8. Deduction under Section 80TTA: Interest on savings account.
9. Deductions for contributions to pension schemes (Section 80CCD(1), 80CCD(1B), and 80CCD(2)).
Deductions and Exemptions Allowed under New Regime:
However, there are a few allowances and exemptions that are still available under the new tax regime:
1. Employer Contribution to NPS: Section 80CCD(2).
2. Standard Deduction: ₹50,000 available to salaried individuals.
3. Standard Deduction on Rent: 30% of the annual value for let-out property.
4. Income from agriculture: Certain agricultural income is exempt.
5. Retirement Benefits: Leave encashment on retirement, gratuity, and commutation of pension.
6. Transport Allowance: For specially-abled persons.
7. Amount received on maturity of life insurance: Subject to certain conditions.
มุมมอง: 2 668

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ความคิดเห็น

  • @DeepaVelu-v3g
    @DeepaVelu-v3g 23 ชั่วโมงที่ผ่านมา

    Akka ennakkum CA aaganum nu romba aasa akka 😢

  • @kolanchiyappankani4635
    @kolanchiyappankani4635 วันที่ผ่านมา

    Hi mam Ennoda husband salary la tds pidikkaranga antha TDS ah nanga thirumba collect pannikkalama

  • @praneetmanickam9477
    @praneetmanickam9477 วันที่ผ่านมา

    How to file FCM

  • @subramaniyanp4328
    @subramaniyanp4328 2 วันที่ผ่านมา

    Madam, Deduction of family pension also increased to 25,000/- in New Tax.

  • @subramaniyanp4328
    @subramaniyanp4328 2 วันที่ผ่านมา

    Madam, Standard deduction in New Tax Regime is 75,000/- but in Old Tax Regime 50,000/-

  • @KAR0421
    @KAR0421 2 วันที่ผ่านมา

    Ca classes in tamil th-cam.com/video/4-3LUyNC2rI/w-d-xo.html

  • @Dharani_20
    @Dharani_20 2 วันที่ผ่านมา

    Mam I need a help, can I do ca after my bcom computer applications degree

  • @nivedhitha9020
    @nivedhitha9020 3 วันที่ผ่านมา

    Ca direct route la poganum na articleship mudichitutha exam ezutha mudiyum ma illa exam clear paninitu kuda articleship paninalama sister soluga sister

  • @vishakam8240
    @vishakam8240 4 วันที่ผ่านมา

    Company la ESOP eligibility amount kuduthurukanga athu ethuku

  • @RohithRajan-p2n
    @RohithRajan-p2n 4 วันที่ผ่านมา

    ore person member aagavum director aagavum irukalaaama mam

  • @ammtradingffa
    @ammtradingffa 4 วันที่ผ่านมา

    Avangala Enga Poi theduradhu. Adhaiyum Sollitingana, Enakku Romba Usefulla Irukkum

  • @wasteoftime5644
    @wasteoftime5644 5 วันที่ผ่านมา

    Institution fees details sollunga

  • @_dksanzu_
    @_dksanzu_ 6 วันที่ผ่านมา

    Intha course la join pana age iruka

  • @thenmozhithangaraj2990
    @thenmozhithangaraj2990 8 วันที่ผ่านมา

    Order podudagana ena seivathu

  • @thenmozhithangaraj2990
    @thenmozhithangaraj2990 8 วันที่ผ่านมา

    Order vantha ena seivathu

  • @perumalg3203
    @perumalg3203 8 วันที่ผ่านมา

    Sister explains the section 195 tds

  • @கபடிகளம்-ண1ங
    @கபடிகளம்-ண1ங 9 วันที่ผ่านมา

    Thanks sister 🎉

  • @sundarm9046
    @sundarm9046 10 วันที่ผ่านมา

    Mom Please give your pone No

  • @vasanthkumar2944
    @vasanthkumar2944 11 วันที่ผ่านมา

    Tax payers only suffering this or all employees will suffer?

  • @padmanathanpadmanathan7228
    @padmanathanpadmanathan7228 11 วันที่ผ่านมา

    Monthly turnover or yearly turnover mam

  • @PreethaA-ce2cj
    @PreethaA-ce2cj 12 วันที่ผ่านมา

    Thank you so much akka❤

  • @umaselva8649
    @umaselva8649 12 วันที่ผ่านมา

    Hi sis, now I am doing the job. Job is must in my life. Now shall I study CMA course? If possible how many days will take it?

  • @Kamali9137
    @Kamali9137 12 วันที่ผ่านมา

    Sister books la eppd vanganum institute la kekanuma illa veliya vanganuma

  • @motivation_moon
    @motivation_moon 13 วันที่ผ่านมา

    Can anyone translate the points in English i don't understand tamil

  • @dhisaifamily5541
    @dhisaifamily5541 16 วันที่ผ่านมา

    Thayavu seinchu ellarukkum puriyura nari sollu thanga

  • @Varada_Raghavan
    @Varada_Raghavan 16 วันที่ผ่านมา

    All points are good. But except one thing. Institute books are good but they are so much voluminous. Private author books focuses appropriate weightage to appropriate chapters but institute material even for insignificant chapters will go for 100 pages. For clearing ca final within 6-9 months in my opinion to use private author material is effective. I said with my experience with study material and private author material.

  • @thiyagarajan6477
    @thiyagarajan6477 18 วันที่ผ่านมา

    அக்கவுண்டில் 5 லச்சம் போட்டு அந்த 5 லச்சத்தை எடுத்து விட்டால் அது தான் 5+5=10 லட்சம் limit டா யாராவது சொலாலுங்கள் please

  • @balanathera2295
    @balanathera2295 19 วันที่ผ่านมา

    Hi naino link pannalama

  • @mohammedfarook5376
    @mohammedfarook5376 20 วันที่ผ่านมา

    bank வட்டி e filling web இல் பார்க்க முடியுமா

  • @musky_tusky_.11
    @musky_tusky_.11 21 วันที่ผ่านมา

    We have paid wrongly instead of immovable property I selected virtual asset how to rectify mam

  • @kanagaraju9151
    @kanagaraju9151 22 วันที่ผ่านมา

    Under RCM, The RCM tax amount reported in GSTR 1 , Can we utilize through ITC on the same month while filing GSTR 3 B ?

  • @agastinselvam9215
    @agastinselvam9215 22 วันที่ผ่านมา

    ஒரு மயிறும் புரியல.

  • @saravcomputer3245
    @saravcomputer3245 22 วันที่ผ่านมา

    Hi mam im new in this field - GST and ITR , Please help me, how to gst registration video link

  • @Ajay-n1m6o
    @Ajay-n1m6o 22 วันที่ผ่านมา

    Ca course are exam

  • @FathimaHelen
    @FathimaHelen 23 วันที่ผ่านมา

    can I get an amendments links posted page for this

  • @Nandini2007-lf3uj
    @Nandini2007-lf3uj 23 วันที่ผ่านมา

    C A Salary Enna

  • @SrinivasanMelmangalam
    @SrinivasanMelmangalam 24 วันที่ผ่านมา

    The bank will inform me you keep quiet.

  • @pujikuttyvlogs8199
    @pujikuttyvlogs8199 27 วันที่ผ่านมา

    Madam i am working in private salary only annual income Below 5laks only. My total salary deducted sep23 month reason for pan aadar not linked. After linked pan aadar done. My IT file date 01.7.24. still now refund not credited in my account.going to check in IT portal they showing prossing on only in last 2 month.. Possible to get my amount or not.

  • @sivakumark6886
    @sivakumark6886 หลายเดือนก่อน

    CA direct route pathi fulla video poduga akka

  • @abianbu4104
    @abianbu4104 หลายเดือนก่อน

    Selathula college iruka

  • @abianbu4104
    @abianbu4104 หลายเดือนก่อน

    College yenga iruku

  • @loki_official_17
    @loki_official_17 หลายเดือนก่อน

    My lover, future, CA ❣️akka

  • @manjunathnaik5386
    @manjunathnaik5386 หลายเดือนก่อน

    Pan adahar not linked problem linked on June 19 2024 I paid 20% fine can I get refund

  • @christynasamuel4913
    @christynasamuel4913 หลายเดือนก่อน

    Small Construction company proprietorship, MSME la register pannalama mam

  • @hemalathalatha1959
    @hemalathalatha1959 หลายเดือนก่อน

    Wants to talk Number mam

  • @mohamedziaudeen3901
    @mohamedziaudeen3901 หลายเดือนก่อน

    Nicely explained.

  • @arulg8901
    @arulg8901 หลายเดือนก่อน

    Hi how to see yearwise 2A and 2B?

  • @selvakumaran7090
    @selvakumaran7090 หลายเดือนก่อน

    Not explained clearly

  • @py02gaming85
    @py02gaming85 หลายเดือนก่อน

    அக்கா நான் 2024+2 படிக்கிறேன் . ICA | ல் சேர்ந்து படிப்பது எப்படி

  • @Paarukutty1226
    @Paarukutty1226 หลายเดือนก่อน

    Eppadi joint pannanum