I always come to your channel when I have to get any finance-related information. No non-sense talk, no unnecessary information. What I get is precise, accurate and useful information, without any noise.
Sir please create a video explaining how capital gains are taxed (In both regimes) for salaried employees assuming salary as 5L to 10L. Or if you already have a video for that then plz share the link
For HUF taxation - I will be funding my newly opened HUF account with gift money from my friend (non-member/non-relative). How much amount would be good enough to get the maximum tax benefits Or minimum tax as per latest 2024-25 tax slabs, which tax regime shall I opt and how much amount to be transferred ? Can anyone please…
I think you missed to calculate Health & Education Cess on Final Calculation (Old regime). For my 35 Lakh income, there is difference of ~29000 and is equal to Cess amount. But Overall, it's good,, thank you.
Hello good explanation. Question - I understand under the new tax regime I do not get the 80C deduction but can I still invest in one of the 80C investments upto 1.5 lacs so the interest earned is at least tax free at withdrawal? Same question with other deductions like 80CCD upto Rs 50K? Thanks.
Brother those who are salaried by government and having short term capital gain through equity.. Eg- gross salary- 624520/- Capital gain 13200/- Dividend -10000 Total of these three -766520/- Then what will be the total income considered for tax calculation and what amount to be paid I think many on this salary area having confusion..... Appreciate your presentation 👍
Hi yogi ji.....is there any negative effect or not in compounding if i do tax harvesting in mutual fund?........can you explain this topic in details 🤳🏻
Thanks for provide the correct information about the same, but Excel file is protected, so kindly confirm the password or provide the any alternative option.
मैने हाउस लोन ले रखा है जिसमे मुझे सलाना 4 लाख इंट्रेस्ट लगता है जिससे हम दोनो ( वाइफ) deductions का बेनिफिट लेते है । हमे तो old regime hi theek rhegi ?
Sir u have not added section 10 exemptions column for old tax regime. Someone who falls in any exemption category may not be able to use this calculator without errors
hello, Nice video. I have a question. I`ll come under 30% tax slab. I don`t have any deductions to submit except 80C (1.5 lac). In that scenario, which tax regime best suits me, Old or New.? I need more take home salary. Pleas kindly reply me in your free time.
Hello Sir, Thankyou so much for the comparison. Can you pls tell what would be the HRA value in the calculator. For example, suppose if I submit 1 lakh HRA but the IT dept. takes the least minimum as per the HRA rules like around 60k. So should I keep 1lakh or 60k in the calculator ?
Is the new long-term capital gains (LTCG) tax rate for US equity investments 12.5%, and is the ₹1.25 lakh exemption also applicable to LTCG from US equities?
Very good and informative video. After downloading the sheet to decide new regime or old one, I was quickly able to decide which one is more profitable for me. Thanks AssetYogi and Mukul Bhai for great information as always !
Sir, along with NPS, the new tax regime would also exempt 12% EPF contribution right? and if so, that exemption would be on the actual 12% invested or capped at 1.5L? can you advise.
I have downloaded the excel sheet you attached here and I entered the total amount as ₹1652512 as salary and checked for tax amount. Because as per old tax regime there is no change so it should reflect me the accurate tax but your calculation is showing tax amount ₹263254 (old tax regime) and ₹143254 as per new tax regime but my question is that as per form 16 my total tax is showing 180754 when there is no other deduction apart from standard deduction. So please tell me why your calculation is showing that difference
I have calculated TAX as per new regime but compare to your sheet I am getting 20K more TAX. Kindly reverify your sheet, it is showing 20K less TAX in new regime. TAX as per old regime which I calculated is matching with your sheet.
Tax rebate kya hota ye humko claim karna hota hai means if salaried people have salary between 3 to 7 lakh then 5 percent tax cut hoga phirr baad mein claim karna hoga ?
Sir, one question : me and wife are paying home loan interest (Pre emi) and For the time being, giving rent amount as well. Which one will be better for us? Old or new?
Is 80ccd(2) available under new tax regime if the employer deducts contribution from salary and deposits in a pension fund other than New pension scheme of govt say Coal mines pension fund? 🤔
I claim HRA 1.3L + interest on home loan 1.2L + 50k standard deduction + 1.5L 80c + 25k Health insurance + 50k NPS = 5.5L deductions HRA is very less still I am able to claim other deductions and still the old regime is better for me.
Brother can you create video for equity trader only with short term and long term gains.......humble request.....also advice if any deduction or how we can save tax....
Haan ji..... request u to make a video on TDS. First toh TDS matlab aapko utni salary mili nehin... fir year end pe usko income Maan ke uspe tax lagti hai.. aur fir agar koi income tax refund aati hai toh woh next year income Mai add ho jaati hai, matlab uski upar fir tax... Mera maan na ye hai ki agar 10000 TDS aapka deduct hoti hai per month, then that amount 120000 should not be included in income for tax calculation. Kyonki uss 10000/month ko hum invest karke year end tak kuchh kamaa lete...6-7% TDS ka kya Funda hai ki locha hai thoda samjhaiyega toh ... sir ji
What is percentage of population paying IT. What is percentage share of net revenue after deductions on IT administration? For such a small percentage- there is so much complications, rules, sub rules, exemption, rebates, cess , additional tax etc. inspite of all, nothing happened or happens to tax evaders- people in public media. There is real need for reforms in IT laws, more simplified rules. All people over certain limit to pay IT, may be small.
Hello sir agar mere 2,3 account he alag alag bank me aur me apni is bank ke khate mese apni hi bank ke dusre khate me paise dalu aise har bank me karu aur uske baad jo sabhi transaction ka total hota he finacial year me us me agar wahi ke wohi paise baar baar is khate se us khate me aise transfer karu aur total incoming money agar 10,15 lakh dikhane lage to kya tobhi bhi tax lag sakta he?
@@ChhotaTrex Do you know if we need to change form 16 as well in case of change regime while ITR. I think we don't need to change. But your inputs will help
@@girishsapariya2306 no we don't need to change anything related with form 16. Just done with my ITR filing. I am a salaried person and was in old regime but at the time of filling i changed it to new regime.
Dear Sir, please make a video on other than the salaried person i.e only and only income from capital gains (LTCG/STCG) by sale of shares (equity) for up to which amount of income, no income tax to be paid
With my understanding 1) If your capital gain income (LTCG+STCG) is 2.5 lac in old regime and 3 lac as per New Regime then you don't have to pay any Tax. 2) If capital gain (LTCG+STCG) more than 2.5 lac or 3 lac then you have pay taxes as per capital gain tax rate , that is STCG - 15% and LTCG- 10% (FY-23-24) Note- LTCG amount taxable above 1 lac only. Please correct me if I am wrong.
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You never share the password for the excel
Pl share excel and password
Please provide the excel sheet
I always come to your channel when I have to get any finance-related information.
No non-sense talk, no unnecessary information. What I get is precise, accurate and useful information, without any noise.
Always On Point. You have helped start my Personal Finance Journey
87a no one discussed. I checked my return on new and old. (Salar+capital gain). Old regime is good for me.
😊
1:07
Ye line koi samjayega please
Tax rebate ?
Matlab
And kese milta he ? and also the line please explain
Thank U sir,You cleared my doubts in preparing Advance statement of 2024-2025.
Sir please create a video explaining how capital gains are taxed (In both regimes) for salaried employees assuming salary as 5L to 10L. Or if you already have a video for that then plz share the link
TQ Sir,
Apki video ka wait tha, Jabse Nirmala Tai ne Budget pass Kiya tab se apki video ka wait kar rha tha, abi sab clear ho gya.
Will there be any video regarding LTCG on sale of property before July 23, 2024? Some changes are declared to attract more IT, is it?
For HUF taxation - I will be funding my newly opened HUF account with gift money from my friend (non-member/non-relative). How much amount would be good enough to get the maximum tax benefits Or minimum tax as per latest 2024-25 tax slabs, which tax regime shall I opt and how much amount to be transferred ? Can anyone please…
You are really great and to the point. Great explanation sir!
I think you missed to calculate Health & Education Cess on Final Calculation (Old regime). For my 35 Lakh income, there is difference of ~29000 and is equal to Cess amount. But Overall, it's good,, thank you.
Vow, what a a explanation sir.. very clear.. Thank You For Guiding us ❤
Hello good explanation. Question - I understand under the new tax regime I do not get the 80C deduction but can I still invest in one of the 80C investments upto 1.5 lacs so the interest earned is at least tax free at withdrawal? Same question with other deductions like 80CCD upto Rs 50K? Thanks.
Very well explained. Thank you for the calculator.
Brother those who are salaried by government and having short term capital gain through equity..
Eg- gross salary- 624520/-
Capital gain 13200/-
Dividend -10000
Total of these three -766520/-
Then what will be the total income considered for tax calculation and what amount to be paid
I think many on this salary area having confusion.....
Appreciate your presentation 👍
Capital gain up to 1 lakhs is exempted of taxes
Very informative video, it cleared all my doubts, Thanks a lot
Hi yogi ji.....is there any negative effect or not in compounding if i do tax harvesting in mutual fund?........can you explain this topic in details 🤳🏻
Sir what about leave encashment and Gratuity is that exempt in new regime
Thanks a lot Asset Yogi for the calculator. I just switched to New Tax Regime in my company's portal as it's beneficial for me in FY 24-25.
As usual superb explanation with unique way of organizing things. Thank you so much Sir.
Thanks for provide the correct information about the same, but Excel file is protected, so kindly confirm the password or provide the any alternative option.
Do we benefit from the professional tax deduction under new regime?
Thanks for sharing excel sheet calculator, Kindly help me to understand if home loan interest can be claimed under new tax regime ? please confirm.
मैने हाउस लोन ले रखा है जिसमे मुझे सलाना 4 लाख इंट्रेस्ट लगता है जिससे हम दोनो ( वाइफ) deductions का बेनिफिट लेते है ।
हमे तो old regime hi theek rhegi ?
Political fund or Charity Fund Section 80GGC will covered in both regimes??
Sir u have not added section 10 exemptions column for old tax regime. Someone who falls in any exemption category may not be able to use this calculator without errors
hello,
Nice video.
I have a question. I`ll come under 30% tax slab. I don`t have any deductions to submit except 80C (1.5 lac). In that scenario, which tax regime best suits me, Old or New.? I need more take home salary.
Pleas kindly reply me in your free time.
Videos are really simplified. plz guide to unprotect tax calculator.
Thanks
what is difference in tax system for salaried person before and after budget 2024 can you pls explain
Hello Sir,
Thankyou so much for the comparison.
Can you pls tell what would be the HRA value in the calculator. For example, suppose if I submit 1 lakh HRA but the IT dept. takes the least minimum as per the HRA rules like around 60k. So should I keep 1lakh or 60k in the calculator ?
What happens when PPF investment is encashed in a new regime. Will it be taxed?
Is the new long-term capital gains (LTCG) tax rate for US equity investments 12.5%, and is the ₹1.25 lakh exemption also applicable to LTCG from US equities?
Very good and informative video. After downloading the sheet to decide new regime or old one, I was quickly able to decide which one is more profitable for me.
Thanks AssetYogi and Mukul Bhai for great information as always !
Sir, along with NPS, the new tax regime would also exempt 12% EPF contribution right? and if so, that exemption would be on the actual 12% invested or capped at 1.5L? can you advise.
Very Good Description & Idea
Hi Sir, if I only have income from Equity and no any other source of income
Will it come under normal tax slab or still it will cover under LTG/STG
Employer ka contribution salary me add krne ke bad dalna hoga? yaa without add kre dal skte h?
pls ans
If income is generated in last financial year but received in current financial year then the said income is taxable in which financial year?
Please provide a detailed video on NPS VATSALYA SCHEME
Thank you, very informative video.
I have downloaded the excel sheet you attached here and I entered the total amount as ₹1652512 as salary and checked for tax amount. Because as per old tax regime there is no change so it should reflect me the accurate tax but your calculation is showing tax amount ₹263254 (old tax regime) and ₹143254 as per new tax regime but my question is that as per form 16 my total tax is showing 180754 when there is no other deduction apart from standard deduction.
So please tell me why your calculation is showing that difference
Check your ITR, there would be deduction of home loan interest (2lakhs), 80C investment, medical insurance premium, 80CCD(1B)investment.
Great information sir ji..but calculater download nhi ho rha..plz help
Sir,
Can we claim deduction under new regime if I do Investment in NPS by myself?
My employer donot contribute to NPS. It contributes to PF only.
Hello sir, I have a question.
For a regular user, On earning 7,75,000 rupees there is no tax, same as that How much tax free amount for HUF?
I have calculated TAX as per new regime but compare to your sheet I am getting 20K more TAX. Kindly reverify your sheet, it is showing 20K less TAX in new regime.
TAX as per old regime which I calculated is matching with your sheet.
In 12-15 lakh TAX slab, TAX need to calculate on 3 lakh, which in your sheet it seems like it is calculated on 2 lakhs. Please check.
@@er_akash_bundela bro it's 2 lakhs because he took salary as 14 lakhs
@@ItsGaganHereput any salary above 14 lakhs it is showing the same 20K difference.
Share market loss or profit add karke banaiye na video. Short term gain me 2.50 lakh tak free hai?
Tax rebate kya hota ye humko claim karna hota hai means if salaried people have salary between 3 to 7 lakh then 5 percent tax cut hoga phirr baad mein claim karna hoga ?
Agar salary 7 lakhs se kam hai to tax nahin katega.
Sir, Seafarer Stock aur mutual fund k liey kaun sa account open karay ? Q ki kabhi kabhi NRI status pura nahi hota us ko kaise solv karey ?
Can we switch to old regime now, looking to file income tax return , after last date of filing.
Sir, one question : me and wife are paying home loan interest (Pre emi) and For the time being, giving rent amount as well. Which one will be better for us? Old or new?
What should be the maximum home loan interest amount, and principal amony can deduct from the annual income. In new tax scheme.??
In new tax regime you can claim only home loan interest if the property is let-out (rented out), self occupied property will not have any deduction.
Is tax saver elss funds still relevant in 80C exemption?
Is 80ccd(2) available under new tax regime if the employer deducts contribution from salary and deposits in a pension fund other than New pension scheme of govt say Coal mines pension fund? 🤔
I claim HRA 1.3L + interest on home loan 1.2L + 50k standard deduction + 1.5L 80c + 25k Health insurance + 50k NPS = 5.5L deductions
HRA is very less still I am able to claim other deductions and still the old regime is better for me.
Can we claim both HRA and home loan interest ?
Yes@@_abhishekmj_
@@_abhishekmj_ Yes if we live in different city or distance between both houses is 25 kms
@@nagar4u Oh, okay. Then not possible.. I m living in same house..
Brother how much HRA you received monthly
Try to make video on financial planning while planning for kids for couples
Great video Sir. Does this mean that slowly as New Tax Regime becomes more attractive, the idea of buying a house on loan is becoming less attractive?
Buying a house depends on various other factors so this statement cannot be true entirely
Please clear me, If i want deduction of 14% Employer Contribution as exemption.. is it compulsory to show that amount in Gross salary also
Brother can you create video for equity trader only with short term and long term gains.......humble request.....also advice if any deduction or how we can save tax....
Can you please tell me about the tax slab for seniors citizen?
Sir ltcg stcg ki income add kare to old hi better hoga na?
If gross 20l which one will be better
In one financial year mey kitna invest kar sakte hai mutual fund may without any tax
Thanks. You are unmatched.
Donation to PM relef fund is taxable on new regimee?
Where to invest to save tax in new tax regime? Is post office schemes like PPF still useful in new tax regime?
no benefit in OTR.
New regime me deduction pakadte hai ya nahi...,? Jaise ki 80c ...jaise...?
Sir Agar Meri Total Gross Income (4 Months ki) Standard Deductions Se Kam Hai To Kya Hum ITR File Krr skte hain??
Thank u so much for the calculator.
Sir, is Grandfathering clause still applicable while selling shares or it has been removed?? Please confirm, Thank you.
Standard deduction in old tax regime will remain ₹50K or ₹75K applies to old regime also?
Will remain 50k
would you mind making a video on “Invest Your Money In The Name of Your Parents”
Haan ji..... request u to make a video on TDS.
First toh TDS matlab aapko utni salary mili nehin... fir year end pe usko income Maan ke uspe tax lagti hai.. aur fir agar koi income tax refund aati hai toh woh next year income Mai add ho jaati hai, matlab uski upar fir tax... Mera maan na ye hai ki agar 10000 TDS aapka deduct hoti hai per month, then that amount 120000 should not be included in income for tax calculation. Kyonki uss 10000/month ko hum invest karke year end tak kuchh kamaa lete...6-7% TDS ka kya Funda hai ki locha hai thoda samjhaiyega toh ... sir ji
My doubt do is this applicable for this year
This is applicable to asessment year 2025-26 (financial year 2024-25).
Pls share calculator or excel if you have for new tax regime
Govt employee ke liye jo new regime select kiye kiya ab uska nps me distribution 14% hoga ya fir Jo pahle the 10%
What about if NPS is not considered in New tax regime. It was not clear
hey I have a question, Can an individual with annual income less than 3,00,000 file tax for the AY 2023-2024?
Extra deduction claim karna means?
Does Indexation in Ltcg mutual fund still available??
What is percentage of population paying IT. What is percentage share of net revenue after deductions on IT administration? For such a small percentage- there is so much complications, rules, sub rules, exemption, rebates, cess , additional tax etc. inspite of all, nothing happened or happens to tax evaders- people in public media.
There is real need for reforms in IT laws, more simplified rules. All people over certain limit to pay IT, may be small.
Very nice explanation, sir❤
Thank you so much sir ❤
I like your all videos 😊
Is it true that exemptions like fuel and the internet are excluded from the new regime now? Pls confirm
My employer has stopped calculating these benefits
Now all the doubts have been cleared.... thank you so much sir 🙏
Glad it was helpful!
Please share the password for Excel first. @@AssetYogi
I have already selected old tax regime, can I move to new regime in Financial year 2024-25
Yes, you can while declaration of investment proof in your company.
Hello sir agar mere 2,3 account he alag alag bank me aur me apni is bank ke khate mese apni hi bank ke dusre khate me paise dalu aise har bank me karu aur uske baad jo sabhi transaction ka total hota he finacial year me us me agar wahi ke wohi paise baar baar is khate se us khate me aise transfer karu aur total incoming money agar 10,15 lakh dikhane lage to kya tobhi bhi tax lag sakta he?
deduction under section 80 U (person with disability) available in new tax regime??
Very insightful video. Thanks
Ltcg jo 12.5% hua hai vo kewal new regime ke liye hai ya for both regimes?
Both
share market walom konsa pe karega ,irrespective loss/profit .
I have filed my return as per old tax regime
Can I revise return with new tax regime?
I think yes.
139(5) revised return.
But cross check once again.
Hey, thanks
I have checked it, and what I understood is we can change regime before 31st july
@@ChhotaTrex Do you know if we need to change form 16 as well in case of change regime while ITR. I think we don't need to change. But your inputs will help
@@girishsapariya2306 no we don't need to change anything related with form 16.
Just done with my ITR filing. I am a salaried person and was in old regime but at the time of filling i changed it to new regime.
Residual Pay Choice ?
Thanks a lot Sir.
It's very helpful.
ITR form not showing deduction option, all are grey when total income less than 3 laks.
Sir PPF is EEE in new tax regime or koi tax Lagega
Dear Sir, please make a video on other than the salaried person i.e only and only income from capital gains (LTCG/STCG) by sale of shares (equity) for up to which amount of income, no income tax to be paid
With my understanding
1) If your capital gain income (LTCG+STCG) is 2.5 lac in old regime and 3 lac as per New Regime then you don't have to pay any Tax.
2) If capital gain (LTCG+STCG) more than 2.5 lac or 3 lac then you have pay taxes as per capital gain tax rate , that is STCG - 15% and LTCG- 10% (FY-23-24)
Note- LTCG amount taxable above 1 lac only.
Please correct me if I am wrong.
@@IAMBHARTIY thanks please
Please make video on indexation remove from capital gains tax
And guide people how govt has silently taken such a big step
how is the amount of tax being calculated?