U explained far better than news channel, News Anchor it's self getting confused... What will they explain... Requesting to u make video on this calculations...
You are right.. using maximum deductions can help to save income tax with old regime still.. but depends how many deductions we are eligible to claim.. take maximum benefits and assess accordingly 🙂👍
While comparing old Vs new regime , please consider all deductions rebates available in old regime like eg 80C, 80ccc, 80ccd , 80ccd(1), 80ccd(1B), NPS, 80D, 80G, 80TTA, 80TTB, deduction under chapter VII etc . Then compare. FM GOI spoke clearly if you do not wish to do savings for tax reduction or homeloan then you can opt for new regime.
Yes you can consider all other options if you are investing. Covered all those options in a separate video here th-cam.com/video/HrTEUtVBHlQ/w-d-xo.html
This have been my reliable ally in building a secure financial future. You don't need to have much before you can invest. I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made
I highly endorse Regina Louise Collaro, a US-based financial advisor and consultant. Partnering with an international organization, she has been instrumental in guiding my financial journey with unwavering support until my goals are met. Selecting the right financial consultant is as crucial as finding the right life partner, as both can significantly impact your life's trajectory. I'm grateful to have found the perfect financial consultant who has helped me achieve my financial objectives, from education to nearing retirement.
I value your recommendations. It's challenging to locate a trustworthy person. I could really use your investment advisor after seeing how much money you've made through investing. If you don't mind revealing her information, that is.
It's surprising to come across Regina Louise Collaro's name here. I've always been uncertain about hiring an investment advisor. Just to clarify, I began collaborating with Regina in 2019. She oversees around 70% of my investments, leaving me with the remaining 30%. My stance has always been that I prioritize my own finances, but she has convinced me of her extensive knowledge regarding present circumstances and upcoming trends
I have wanted to start investing for a while. Yet, I've always considered it to be late, and I believe I should quit putting things off. I'll absolutely contact Regina Louise Collaro to ask her for advice. Much thanks. This was quite helpful to me.
i really dont know why people are so much excited। People with 15 + lpa still have more benifits under old regime । Income till 7 lpa new regime can be selected only to get rid of the proof submission of different exemptions. Otherwise in old regime if we utilize all the exemption then there will be Zero tax till 10 lpa
@@intradaytrader4854 plus U have 1 lakh exemption for LTCG and if U can open HUF U will be able to save atleast 40-50k of your tax additionally. The only benefit is HUF should be kept in new tax regime as HUF also donot give U much tax savingg options in Old tax regime.
@DBandhu Kumar Bro actual middle class lie within 10lpa sector. If you’re earning about 60-70k per month you’re no more a middle class. You’re probably upper middle class. And of all the IT sections you’ve mentioned, you can’t avail it all as a salaried professional. How can you avail HRA plus home loan at the same time. It’s clearly a fraud which companies reject during proof submissions. Interest on saving is less likely to reach a limit of 10k annually. Request you not to criticise until you have your salary received after new rules are in place. Out of 140cr people about 2cr are paying direct taxes. Govt has to make some changes slowly to increase this numbers. Please be patient enough to see the overall community growth.
A point worth noting, employees whose salary>15.5 lakh can avail Standard deduction of 52000/- in New Tax regime. This is being introduced in budget(2023-24) session.
No it's not standard deduction of 52500/- , it's the benifit in tax they will get if their salary is 15.5 lakh(old vs new). See the budget pdf , or listen to the finance minister speech clearly
Appricite your efforts but your calculation doesn't include deduction under section 80CCD (1b) which given deduction of Rs 50000 in the old tax regime. Also deduction u/s 80 D of rs 25000
This time I would be choosing new regime because I only use 1.5lakh in 80C and 50k in 80ccd as exemptions and availing then on 12lpa salary means 1.06 lakhs tax but with new regime I have to pay 85k, so 21k saving.
Nicely explained. Can you clarify for Sr.citizens exemption limit in old regime (earlier it was 3.oo lakh) Second one is we used to get TDS refund in old regime, if taxableincome is not there. May be this year also it will continue. My question , is it possible to claim in new regime ? (7.00 slab rate regime)
Old regime is still beneficial because of HRA and IRC. So my advice is if you're salaried then pay income tax by old regime. Note - if your income under 10 lac.
In your website, would you be able to add the same calculation for NRIs who only have rental and interest income in India (and no other source of income). Since NRIs who don't have any job based income in India cannot use the standard deductions on section 80, it will be interesting to see how the new changes applies to them.
Focus on this statement of finance minister. I think many are confused here. Individuals with income of ₹15.5 lakh and above have been made eligible for astandard deduction of ₹52,500 in thenew tax regime in Budget 2023.
Dude - why are you considering only 80C under the old regime ? what about other exemptions like home loan interest, education loan interest, 80D, 80DDB etc ?
Means without any loan... I can deduct.. 14% nps. Govt share... 50000 standard deduction.. 150000 .. 80c...50000 nps wala.... Nd health insurance 80 d... Old regime is best
@@coalescentgirl1013 if any cent govt employee invest 50000 in NPS then how much max deduction he can get through NPS deduction? Govt share in NPS also be calculated in this deduction?
Sbke sb sale ak no ke ghadhe hn pdhte likhte hn ni bs a jate hn. SD sirf 15.5 lakh se upar ki income walo ko milega jisse unka tax benefits 52.5k rs ho jayega new tax system me
Awesome content bhai. Really well explained. I just want to understand if deductions like SD, 80C, 80D, 80CCD(1B), HRA, 80TTA, Section 24 etc will also be available under new tax regime?
@@AmandeepSingh-ns6qe Gosh. Then its basically an eyewash. 😊 Guess we need to do serious calculations of our investments this year, and then finally choose to opt for new/old regime. But, I have a hunch, that most middle class salaried people would still go with old regime.
@@upakaranacharyyachowdhury7562 see if u are salaried and if u invest in NPS or other deduction then go for Old one and if u have hardly any deductions then go for new one... Like if someone has home loan and 80 c then it is suicide for him to go for new regime... The government says earn and spend everything in the market and Don't save anything for your future..
@@AmandeepSingh-ns6qe Yeah. We need to save some as well right. And that too should be done in safer options like PPF, LIC or NSC rather than always going for stocks or MFs. For me, I will still be having home loan, 80C, HRA, also 80D as med insurance. So, I guess sticking to old regime is better.
thank you for the video. The new tax regime in actual will not do much saving as there are many other provisions to save tax in the old tax regime. Also once you opted for New tax regime, we cannot go back to old tax regime. I will stay with New Tax regime and wait for the Congress to come in power in 2024.
New Income tax slab (2023-2024) NPS me Dale hue 50000₹ Ki ginti hogi ya nahi.? Please NPS Ke bare me bataie sir.Naye slab me liya gya hai yaa nahi? kripya karke bataie sir .
Income Tax Calculation video kaisa laga? COMMENT karo
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Brother at least include HRA of 1 lakh in your old tax regime. Because all most all uses hra.
Best explanation..
Calculator not working
Deduct HRA and calculate Tax on old regime
Mera income salana 725000 h mujhe kitni chhut h aur kitne ru.ka tax Dena h aur kitna
U explained far better than news channel, News Anchor it's self getting confused... What will they explain... Requesting to u make video on this calculations...
This is fantastic.. instead of watching news channel and getting confused.. share it with all your friends
Thanks. Please share in your social media circles 🙂👍
Agreed
HRA is game changer... when I am putting HRA in deduction along with 80C,80D,NPS... old tax regime is beneficial.
You are right.. using maximum deductions can help to save income tax with old regime still.. but depends how many deductions we are eligible to claim.. take maximum benefits and assess accordingly 🙂👍
There is lot of T&C on HRA claim.
HRA kitna claim kar sakte without any documents??
@@narendranegi4982 0 RS Rental agreement documents required or ur tanant pan card details has been submitted for getting HRA exemption.
I agree with you.
While comparing old Vs new regime , please consider all deductions rebates available in old regime like eg 80C, 80ccc, 80ccd , 80ccd(1), 80ccd(1B), NPS, 80D, 80G, 80TTA, 80TTB, deduction under chapter VII etc . Then compare. FM GOI spoke clearly if you do not wish to do savings for tax reduction or homeloan then you can opt for new regime.
Yes you can consider all other options if you are investing. Covered all those options in a separate video here
th-cam.com/video/HrTEUtVBHlQ/w-d-xo.html
This have been my reliable ally in building a secure financial future. You don't need to have much before you can invest. I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made
Any investment tip?. I would love to know how you made it this far
I highly endorse Regina Louise Collaro, a US-based financial advisor and consultant. Partnering with an international organization, she has been instrumental in guiding my financial journey with unwavering support until my goals are met. Selecting the right financial consultant is as crucial as finding the right life partner, as both can significantly impact your life's trajectory. I'm grateful to have found the perfect financial consultant who has helped me achieve my financial objectives, from education to nearing retirement.
I value your recommendations. It's challenging to locate a trustworthy person. I could really use your investment advisor after seeing how much money you've made through investing. If you don't mind revealing her information, that is.
It's surprising to come across Regina Louise Collaro's name here. I've always been uncertain about hiring an investment advisor. Just to clarify, I began collaborating with Regina in 2019. She oversees around 70% of my investments, leaving me with the remaining 30%. My stance has always been that I prioritize my own finances, but she has convinced me of her extensive knowledge regarding present circumstances and upcoming trends
I have wanted to start investing for a while. Yet, I've always considered it to be late, and I believe I should quit putting things off. I'll absolutely contact Regina Louise Collaro to ask her for advice. Much thanks. This was quite helpful to me.
i really dont know why people are so much excited। People with 15 + lpa still have more benifits under old regime । Income till 7 lpa new regime can be selected only to get rid of the proof submission of different exemptions. Otherwise in old regime if we utilize all the exemption then there will be Zero tax till 10 lpa
How.explain a bit
@DBandhu Kumar you no longer have those deductions available in new tax regime
@@intradaytrader4854 plus U have 1 lakh exemption for LTCG and if U can open HUF U will be able to save atleast 40-50k of your tax additionally. The only benefit is HUF should be kept in new tax regime as HUF also donot give U much tax savingg options in Old tax regime.
@DBandhu Kumar Bro actual middle class lie within 10lpa sector. If you’re earning about 60-70k per month you’re no more a middle class. You’re probably upper middle class. And of all the IT sections you’ve mentioned, you can’t avail it all as a salaried professional. How can you avail HRA plus home loan at the same time. It’s clearly a fraud which companies reject during proof submissions. Interest on saving is less likely to reach a limit of 10k annually. Request you not to criticise until you have your salary received after new rules are in place.
Out of 140cr people about 2cr are paying direct taxes. Govt has to make some changes slowly to increase this numbers. Please be patient enough to see the overall community growth.
Exactly
You have explained in very simple and understandable manner. Thank you and best wishes Sir
thank you and welcome
Looks good homework done and now it's quite easy for one to understand which tax regime to select and why. Thanks.
आपने वाकई बहुत अच्छा इंकम टैक्स कैलकुलेटर बनाया है
Dhanyavad 🙂👍
A point worth noting, employees whose salary>15.5 lakh can avail Standard deduction of 52000/- in New Tax regime.
This is being introduced in budget(2023-24) session.
No it's not standard deduction of 52500/- , it's the benifit in tax they will get if their salary is 15.5 lakh(old vs new).
See the budget pdf , or listen to the finance minister speech clearly
Thanks a lot
Thanks for your excellent presentation.
welcome. keep watching and sharing
Appricite your efforts but your calculation doesn't include deduction under section 80CCD (1b) which given deduction of Rs 50000 in the old tax regime. Also deduction u/s 80 D of rs 25000
Bhaii ye sab kya hai
बहुत ही अच्छी वीडियो ।
धन्यवाद
This time I would be choosing new regime because I only use 1.5lakh in 80C and 50k in 80ccd as exemptions and availing then on 12lpa salary means 1.06 lakhs tax but with new regime I have to pay 85k, so 21k saving.
I too, have identical earning from pension,getting TDS DEDUCTED Rs.1.11lakh on 12 lakh income with 2 lakh exemption under Sr. Citizen category
Will opt new for 85k tax deduction
Looks good 👍
Hi you are given the information information is very helpful for us. Thanks
I am requesting you could please explain about the how to save the Tax
thanks. yes already made video on how to save income tax here:
link: th-cam.com/video/80SC1pE-NvA/w-d-xo.html
Nicely explained. Can you clarify for Sr.citizens exemption limit in old regime (earlier it was 3.oo lakh)
Second one is we used to get TDS refund in old regime, if taxableincome is not there. May be this year also it will continue. My question , is it possible to claim in new regime ? (7.00 slab rate regime)
All rules of old regime is still applicable. Watch this video for senior citizens
th-cam.com/video/rfW84weCMCs/w-d-xo.html
Old regime is still beneficial because of HRA and IRC. So my advice is if you're salaried then pay income tax by old regime. Note - if your income under 10 lac.
What is IRC?
Old one is good all will take benefits in HRA+80c+nps +medical +home loan in case home in other city can also claim both HRA +HOME LOAN Interest
Your vidio is really so valuable for viewers.
Thank you so much 👍🙂
In your website, would you be able to add the same calculation for NRIs who only have rental and interest income in India (and no other source of income). Since NRIs who don't have any job based income in India cannot use the standard deductions on section 80, it will be interesting to see how the new changes applies to them.
Navy me ho kya
Very simple methotd.. You explained thanks
Most welcome 😊
Focus on this statement of finance minister. I think many are confused here.
Individuals with income of ₹15.5 lakh and above have been made eligible for astandard deduction of ₹52,500 in thenew tax regime in Budget 2023.
Correct is bande ko kuch nahi pata
Usse ghanta kuch kaam hoga 2500 is like chuna
Thankyou verymuch giving clearcut differences in New and Old Income tax regime.
HRA component plays a vital role....
Thanks for the calculator
Which is not considered in this video.. if considered picture will be opposite
Agree.. Need HRA component to be included
@@ABS_3838 i added the HRA and Full 80C component, still the new regime is good. It saves almost 16k compared to old.
Very Helpful, thanks a lot for providing Video and calculator together.
Glad it was helpful!
Dude - why are you considering only 80C under the old regime ? what about other exemptions like home loan interest, education loan interest, 80D, 80DDB etc ?
Nps
Means without any loan... I can deduct.. 14% nps. Govt share... 50000 standard deduction.. 150000 .. 80c...50000 nps wala.... Nd health insurance 80 d... Old regime is best
Also he is ignoring major deduction of HRA as well
Bhai har koi loan nahi leke baithe rahta hai 🤔
@@coalescentgirl1013 if any cent govt employee invest 50000 in NPS then how much max deduction he can get through NPS deduction? Govt share in NPS also be calculated in this deduction?
Very simple method... You explained... Thanks
Most welcome 😊
What's the HRA maximum limit?
HRA limit depends on certain calculations
Watch this video
th-cam.com/video/O-wluM-mvG8/w-d-xo.html
Good Information. THanks
Glad it was helpful!
Standard deduction will be 52500 now from fy 23-24. Not 50000.
But only for people having 15.5L+ salary right
@@sanketnegi1 nope. For all.
Sbke sb sale ak no ke ghadhe hn pdhte likhte hn ni bs a jate hn. SD sirf 15.5 lakh se upar ki income walo ko milega jisse unka tax benefits 52.5k rs ho jayega new tax system me
Not for all..
Only for income 15.5L plus
For income above 15.5 lakhs
Well explained, simple way everyone can understand. Please include Sr. Citizens calculator also.
thanks, senior citizen income tax calculation is already present, watch this video:
th-cam.com/video/n5crP-kyY1c/w-d-xo.html
Awesome content bhai. Really well explained. I just want to understand if deductions like SD, 80C, 80D, 80CCD(1B), HRA, 80TTA, Section 24 etc will also be available under new tax regime?
Nope nothing only 50 SD on New tax regime
@@AmandeepSingh-ns6qe Gosh. Then its basically an eyewash. 😊 Guess we need to do serious calculations of our investments this year, and then finally choose to opt for new/old regime. But, I have a hunch, that most middle class salaried people would still go with old regime.
@@upakaranacharyyachowdhury7562 see if u are salaried and if u invest in NPS or other deduction then go for Old one and if u have hardly any deductions then go for new one... Like if someone has home loan and 80 c then it is suicide for him to go for new regime... The government says earn and spend everything in the market and Don't save anything for your future..
1 deduction available in new tax regime is employer contribution towards NPS limit 50000
@@AmandeepSingh-ns6qe Yeah. We need to save some as well right. And that too should be done in safer options like PPF, LIC or NSC rather than always going for stocks or MFs.
For me, I will still be having home loan, 80C, HRA, also 80D as med insurance. So, I guess sticking to old regime is better.
Pls confirm how to calculate income.. Total CTC or only gross or fixed component??
I would like to know if i opt for new regime for this year, & whether i çan change next year in old regime or otherwise.
Yes you can
Woow so good taken viewers inputs asap
Thanks 👍
very informative in very simple language
Glad you liked it
VERY GOOD INFORMATION
RECEIVED.
THANKS
Glad it was helpful!
What are the savings (PPF.LIC) possibilities can be shown in new tax regime?
Only standard deduction of 50000 available. No other deductions
Very informative to all 👌👌
thanks
Best information till now.
Thanks for liking
Your calculator is very useful, Thank you
Glad it was helpful!
thank you for the video. The new tax regime in actual will not do much saving as there are many other provisions to save tax in the old tax regime. Also once you opted for New tax regime, we cannot go back to old tax regime. I will stay with New Tax regime and wait for the Congress to come in power in 2024.
Mughe yeah btao ki Abhi jo budget me slabs aayi hai wo apply hogi ya previous year ki.
Sir, video is very nice. I have a query. Is sec 80TTB (deposit intrest for senior citizens rs.50000) allowed in deduction in New tax regime.
No
Wow!! what a fantastic tool! 😄super duper cool, no confusion.👍👏👏
clearly explained. it means below 7.5 lc income. new tax regime beneficial irrespective of deductions?
Yes right
बढ़िया था बहुत सारी इनफार्मेशन , अगर हो सके तो एक और कॉलम ऐड करके सारे डिडक्शन क्लेम करने के बाद कितना हो रहा है वह भी ऐड कर सको तो बहुत बढ़िया होगा
Superb....Excellent!
thanks
Hey @fincalc tv , which is better regime for salary under 6/7LPA ? Please comment
For fy 2023-24 new tax regime is better within 7 lakh in year
Watch this video
th-cam.com/video/HrTEUtVBHlQ/w-d-xo.html
Very clearly explained. Thanks 😊
You are welcome 😊
Very nice information in a very simple way .
Thanks for liking
Good Explanation Sir
Thanks and welcome
Thanx sir now it's opening
Welcome
Very good information. Please continue for any other information
Thank you, I will
Thanks for very useful information
Welcome
Superb explanation, n talent u have,
Very good in4. Ramesh Gandhi Lonavala
Thank you very much! It was on point.
Glad it was helpful!
Any concessions for senior and super senior citizens in the new tax regime of 2023-24 budget
No. Will make separate video on senior citizens soon. Stay tuned 👍
Very nicely explained. Thanks. Please also explain as to, upto what income IT return is not required to. be filed. Thanks again.
Thanks 👍
Please advice whether standard deduction of Rs50000 is available in new tax regime
Yes available
Very nice video thanks a lot
Most welcome
Please advice standard deduction of Rs50000is permissible in new tax regime
Yes available in new regime
TDS charged by bank will be deducted and should be mentioned in other deductions right?
Very nice explanation with illustrations. Thank u.
You're most welcome
Very well explained till now
Thanks 👍
Congradulations. Thank u sir
Thanks to you
This is excellent ,convenient, useful to common people. Thank you.
Easy to understand old ot new regime
Is it possible to choose any regime i.e old or new regime by our choice in every financial year?
Please send the details of link about salary employees
Thank you.
You're welcome!
आपने हाउस rent revate के वारे में kuchh नहीं कहा. कृपया बताएं क्या new tax regime में taxable income के लिए HRA / house rent rebate मिलेगा ?
HRA pe maximum kitna value enter kar sakte he ?? Uski limit kya he ??
HRA exemption limit calculation ka ek process hai. Check this video
th-cam.com/video/O-wluM-mvG8/w-d-xo.html
To know your HRA limit
Thankyou very simple explanation ❤
Is there any difficulty for IT returns in new tax regime?
New Income tax slab (2023-2024) NPS me Dale hue 50000₹ Ki ginti hogi ya nahi.? Please NPS Ke bare me bataie sir.Naye slab me liya gya hai yaa nahi? kripya karke bataie sir .
Nps sirf old regime me available rahega
Gar me ak vyakti ki income pe lagta he TAX 1 years ki ? Ya Puri family ke liye ?
Great
Thanks
Nice informative
Thanks for liking
All people see this bro video. He has true Indian
Sir in new tax regime can we show nps deduction under 80 ccd1 for government salary persons
Knowledgeable video. Thanks for sharing !
2023-24 financial year me house loan, medical treatment. Ph deductions claim kar sakathe ya nahi
Housing Appartment me monthly maintenance aur experience par koi Excel sheet kaise prepare kare
Please help
How about the income from the rented property, Rwe eligible for 30% rental deduction during the Financial Year? Thank u
Sir which regime I should choose with 14 lpa package?
depends on your investments as well.
Watch this video also:
th-cam.com/video/HrTEUtVBHlQ/w-d-xo.html
hope this helps
Commendable and hope you will add your comments for senior and super senior citizens taxations
Thanks for creating nice video. Keep it up!!!
Thanks, please calculate 60 year and above old saleries person.
Yes sir, very soon.. stay tuned 👍
Is new tax regime and rebate is applicable while filling ITR this year? Or only from next year?
Yes applicable in this year as well
Watch this video
th-cam.com/video/eW5VPU9oL0k/w-d-xo.html
well described. can you please tell the income tax on nps exit withdrawal if the balance is less than 2 lakhs.
Assessment year 2023-24 and financial year 2022-23 ke liye bhi yahi latest wala rule apply hoga kya ??
Please guide for sr & vsr citizen, thank you .
Yes will post separate video.. stay tuned 👍
Good information
Thanks
Sir 80c ke alava standard deduction and nps me 50000 80cddb1 ko bad karane ke bad new or old me se kaunsa beneficial rahega?
2022-23 main jo income hua hai...Use pay karne keliye ye new tax rule applicable hai ya nehin
Nahi.. new rule 2023-24 se applicable hai
Thankyou
Welcome
Tax calculation for Sr Citizen above 60 yrs
and as per the Old tax regime ?
Please explain.
Is this salarybamount including pf contribution?