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Best Tax Regime according to your salary | Old vs New Tax Regime , Which one saves you more money?
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- Опубліковано 6 сер 2024
- Are you a salaried employee wondering which tax regime will help you save more in 2024? You're in the right place! In this video, we break down the old and new tax regimes, making it easier for you to decide which one suits your financial situation best.
To maximize your tax saving, head to ClearTax - clr.tax/3LR84mfN
Use CTPRANJAL to get an additional 10% discount on all the plans on ClearTax.
Download & Use Finology Free Income Tax Calculator: bit.ly/finologyincometax
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00:00 - Introduction
01:38 - Which tax slab is better for you?
01:55 - About the Old Tax Regime
03:28 - About the New Tax Regime
05:26 - Important Tax Deductions & Exemptions
08:15 - How can you file the taxes?
10:25 - Which regime to opt for based on your salary?
11:22 - Tax Calculations as per your Salary
14:34 - Conclusion
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🎥 Video Edited by Ayush Verma
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#tax #finance #incometax #Ad #taxplanning #taxregime2024 #taxcomparison #oldvsnewtaxregime #cleartax
To maximize your tax savings, head to ClearTax - clr.tax/3LR84mfN
Use CTPRANJAL to get an additional 10% discount on all the plans on ClearTax.
Please Download the calculator, to use it at your convenience
Finology 30 kab ayega sir ji.....😢??????
Sir I am not in tax slab, should I pay Long term capital gains tax. This comment is for everyone who read this, pranjal sir may not notice this comment. Is anyone aware of this please reply.
Very well explained.
Covered All information🎉
@@manashprotimgogoi4273If total income is below taxable limit = 2.5 L then no need to pay any capital gain tax. However you should always file returns every year and declare your capital gains.
Summer series kab?
Despite the challenging economic situations, you have taught me the most effective methods to increase profits. May God bless you with even more knowledge! Sir Ronal'
he’s mostly on Telegrams, using the user.
# Ronalfx2
Thank you so much, Sir Ronal’ I never imagined to receive profits after investing in my trades with you. God is going to continue to bless you.
May God bless Ronal’ for his help. I’m glad my doubts have been cleared, and i received my profit from last week’s investment. Keep up the great work
I'm favoured financially, Thank you Ronal’
$32,000 weekly profit regardless of how bad it gets on the economy
In 2015, investing ₹1,50,000 could get you 57.69 grams of gold. By 2024, the same ₹1,50,000 only buys 25 grams of gold. Despite the Section 80C limit staying the same, the purchasing power has significantly decreased due inflation and price rise in every sector . This effectively provides lesser real value in 2024 compared to 2015.
Still no media talk about.. it’s 9 years no change in 1.5 lakh rebate ..only educated people may understand what I am talking about!
Well there are only a few who can think upto this and they are insignificant for government. 😐
I think this should be increased upto 2.5 lakh
I absolutely agree with you Sir. Thank you so much to clear my doubt.
Super and very essy explan 😊😊
Ur videos r very helpful
Please if possible make a video on filing ITR using ITR 2 even if the video is long
i see your yt channel sir so helpful and knowledgeable
Unpopular opinion! If you have a proper investing habit you can profit more from the new tax regime. Consider section 80C where you can invest in FD, PPF, ELSS, LIC, ULIP etc. You invest 1.5 lakh. And best return consider 10%. After 30 years you get 2.8cr. Same amount consider you pay 30% tax and invest 1.05lakhs in an index fund with full discipline. At 12% you make 3.08cr. This I have excluded any tax benefit which you would get from the new tax regime due to a better slab rates, plus you can also increase the return by investing in a mix of madcap and small cap. The same goes for NPS also. However the old tax regime brings discipline. Had it not been to save tax I would have never started investing. I follow old only but if you have proper knowledge and plan theoretically New is better.
It also bring in locking of investment which will discourage you to withdraw amount for leisure. ALSO amount invested in MF etc comes under LTCG and its not wise to predict next 30 years returns based on last 30 years.
True.. I was just filing my returns.. I paid advance tax on all my salary, cap gains, dividend and interest earlier in the year and when I chose to file in the new tax regime, I'm practically getting charged 2% lesser, compared to the old tax regime.
LIC is for risk management, not for tax saving purpose. ULIP is a very unproductive marketed product which one should not opt just for tax saving. The fees and charges of ULIP with low returns will hurt a lot more than the tax saved
Bhai wo 3.08cr me bhi LTCG lgta h
Question here on how rental security deposits are taxed - Who holds the legal right of use of any security deposit funds collected ? Does the ownership and tax responsibility move from leasee to leasor?
Sir, after investing some amount in equity already, for tax saving and long term point of view, should i invest in PPF or ELSS?
Please consider another point :-
Whether one person should try to invest and save taxes but mostly that invested amount has locking period and that cannot be used for short term or mid term goals. So is that investments worth or paying some more tax at cost of achieving mid term goals and short term goals.
Approximately 20% needs to be invested and this 20% covers the tax benefit ones then how can one individual invest in mutual funds or other schemes other than this tax benefit to make wealth .
I Expect your team will consider this point as many people are unaware about the same.
Thank you.
Regards,
Hemant Takawale
You definitely have my sub. This content is next level. For me Eledator was the turning point. Please keep doing what you do and keep being you, love it.
Pranjal still your view on etf is same?if no kindly guide
If ur salary is above 15 lac per year then go for new tax regime .
If it is less then after all deductions plus home loan plus health insurance u will hv to pay lessthan new tax rules but after 15 lac nothing is of any value
This is true for people earning 22+
Great video by you and that too in the simplest way. Not sure but I'm not able to download the exccel sheet given in the link - "Finology Free Income Tax Calculator" and the tabs are locked only having view access, am I missing something, please let me know how to access the excel sheet. Thanks in advance
can you make according to salary slip how we get effective calculation
sorry to point this out, but the cell linking is currently wrong in the link shared by you for the excel
Are tradind and income incompatible? I think you're not keeping up with the news. While you thought it was impossible, some enthusiasts from Eledator made ai copy trading tool. Everyone now can make money on trading. What do you say now?
Spam comment
Eledator is a scammer. BEWARE ⚠️⚠️⚠️⚠️
@pranjalkamra at 7:35 mins you mentioned employer contribution in NPS is limited to 50k in NPS new regime, were as it's more than that in both new and old tax regime. If possible please make the corrections.
Sir I am not able to use your calculator as you have not provided the edit permission .we can only view the sheet and cannot edit with our income. Kindly slove this
is Zerodha charges interest on intraday leverage???... please clarify
Kindly make a video on Home loan loopholes on Taxation part please
Sir please tell me I have purchased 4 years ago ulip policy from police bazaar how can I exit
Can someone file ITR in old scheme though TDS deduction was based on new regime ?
Not open your calculator through link. Not found in website
Your worksheet is not usable. It is View Only. No inputs can be given. Even after requesting for Edit access, nothing moves forward. Kindly upload a new one.
Aj evening m hi dekh rha tha isko m ,thanks guru
Great sir
I always confuse about which salary we should take for tax liability.....salary on pay slip or CTC what we had on our offer letter? Please guide.
Nice
Sir, in calculater m edit nhi ho rha only view show rha h.... Kese use kre?
Thanks, Kamra bhai! :)
I opted for OLD TAX REGIME during FY23-24 declaration and my tax got deducted based on OLD REGIME. While filing ITR today, I see the NEW TAX REGIME gives me lower tax liability and some refund. While filing ITR for FY23-24 can I select the NEW TAX REGIME despite of selecting OLD TAX REGIME during declaration?
How is NPS related to EPF?
there is a total cap of 50k for the 10% + 12% deduction from basic?!?!
If we have booked long term profit and losses in stocks and mutual funds during a financial year and we have net LTCG but below ₹1,00,000 do we need to show it in ITR 2 or can we still file using ITR 1 because anyways there are no taxes for LTCG gains below ₹1,00,000
same question.. someone please reply
Even if u have one rupee LTCG you have to show it by filing ITR2 even though LTCG tax is zero
hello sir good evening 🙏 I am a student and i wants to do gov job but there is a craze of share market now a days so i wants to ask you sir that i should go to enroll in stock market yes or no sir and my annual income is 120000 ,every month money comes 20 k from also other sources only from my father bec only he works
Not an exhaustive calculator, eg payslip HRA, Sodexo, LTA is not there
While this video provides a good overview of tax regimes, I believe there's more to consider beyond just the rates themselves. Choosing the right tax regime should also factor in opportunities for asset building, healthcare benefits, and financial security, not just the tax savings.
For instance, in the old tax regime, even if the rates are comparable to the new regime, one has the potential to invest in assets like property or education, secure health benefits for the family, and build a safety net through insurance-all while paying the same amount of tax. These are crucial considerations that impact long-term financial stability and well-being, which should be part of the decision-making process when choosing a tax regime.
Sir please suggest best mutual funds 2024 list
80G is not added in the calculator, is it not required?
Sir please Debt and Hybrid mutual funds recommendation pe bhi video banao.🙏
i think the employer NPS deductin is missing the XLS , pls add tht too
Please advise if we should stay invested in tax saving funds even after switching to New Tax Regime. Love your videos @pranjalkamra
What are the privacy policy if clear tax. Where are they using this data against you.
Not able to download your tax calculator excel
unable to use calculator. Excel is in protected mode..
Are you sure about the 50k limit on the employer NPS contribution in the new tax regime?
There is no limit.. It just says Maximum 10% of (Basic+DA).. Pranjal might have got confused
Sir
Can you please make a video on PLI (Postal Life Insurance)? I had taken PLI @ ₹2991/- per month in my initial days of job (2018).
I didn't have any financial understanding at that time. Now it seems a loss to me and quitting is like a bigger loss (premium paid for 6 years as of now). My surrender value is 67k, I've paid 2.25 Lakh. If i don't surrender, I'll have to pay till 19/11/2055.
Waiting for summer series ...
Please make video as per new budget report.
Tax calculation, in hand salary pe hota hai ya CTC pe??
Gross Salary
sir urgent ek help chahiye,,,,mera name pan card main sirname ke sath tha,,,,aur adhar card main sirf first name tha,,, uske baad govt ka ek order aya tha ki pan ko adhar se link karna hai maine online apply kiya but name difference ki wajah se nahi hua,,,,phir maine pan card main name adhar ke according karwaya only first name. phir dono ko link karwaya to ho gaya...ab recently kya hua ki mera zerodha main account hai usme pichle ek saal se bse share ki trading nahi hui,, to unhone bse segment deactivate kar diya...ab jab main usko activate karwane gaya to bole ki pichle ek saal se use nahi kiya to bse segment deactivate kar diya...wapas pan adhar bhejo aur form bhejo,,, jab main ye sab formalities puri ki to wo bol rahe hain ki pan card main jo name pahle diya tha aur jo ab pan card de rahe ho dono main name difference hai,,,,aur bole ki apne ye name change karwaya to newspaper main diya hoga uski cutting lao to update karenge nahi to nahi....kya karu muje paiso ki jarurat hai urgent.....please guide.
I didn't find your FINOLOGY calculator
80 ccd(2) employer NPS contribution limit is not 50k. It is 10% of basic upto 7.5 lakhs (this limit also includes employer PF etc)
Yes right.
But u get benefits of 50000 only
That is self contribution, 80ccd1(b)
Sir Aap Stock market for beginners ka series lane Wale the Sir upload kijiye videos ko hmlog wait kar rhe hn
If one opt for New tax regime, on next year after making tex effective investment can he file return on old tax regime?
Never .
Next year the old tax regime might not even exist😂
according to goverment employees you have not describe all factor as deduction or not deduction both in old or new tax resume .
Course link bhejo
Kamra jee parnam.
Mai ek gov emp hoon,
Aaj mere nps m 24 lakh hai, avi har mahina 18k credit ho raha hai Jo ki 12%/Y bahkar credit ho raha hai, Mera DOB 92 hai, aab aap batayen ki mera kitna pension banega, 2051 me..
7:32 please elaborate on other allowances
you were wrong in the NPS part .10% of basic is exempted not 50k
Not able to edit the income tax sheet
Wait, do you think cryptocurrency will crash? I don't think so. I'm using Eledator, traders just do business instead of me :) I don't afraid even if crypto will crash
Ignore this crap, this is just a bot spamming
What happened to your 100Days reading Challenge!
Please resume….I was motivated by you😅
Whenever this government does something new it's certain that they will be massively wrong.
Absolutely.
No calculator available
Sir please 🙏 kam selari valo ke liye bhi koyi videos banaiye
Sir i also waiting for finology 30
Summer investment class series kab ayega sir ?
Stock market tax details
Good content but for people earning 25lakhs, i guess you miss to add HRA in tax rebate
Calculator is in read only mode. Could you please approve edit request.
New is Best for people who is earning upto 12 lpa, i am already in new this year and last year as well.
calculator is not working
मैं एक gov employee हूँ mje tax return filing krna h shmj मे nh a rha h kya kaise hota hai tier 1,2,3 kya h or अभी tk tax return filing kaise krte h btaiyega
Form 1 fill Krna hota h
Kya Sir, Government job hai aapki phir bhi CA ko 1000-1500 deneme hichkicha rahe ho?
Koi bhi accha CA pakro 1000 rupay de do aur tension free tax file karo.
We are unable to access your Tax Calculator. Please advise how to access
Please Download the calculator, to use it as per your convenience
Pranjal Sir
I already downloaded the same but unable input values in that.
Can we switch between old n new regime multiple times?
No only once in current financial year!
@@pgcreation3249Hi.. mujhe please bataiye k old tax regime better h ya new tax regime. Please help.
@@poonamkumaridubey7170 Ji agar aap ka investments se 100% claim nhi kr sakte hai, to Aap new scheme select kriye!
Finology stock 30 kab batayega aap
Simple है, अगर कोई all eligible exemptions and deductions avail करता हैं तो Old regime benificial हैं ।
The best regime is the new tax regime with the discipline of saving and investing
Sir I am not in tax slab, should I pay Long term capital gains tax. This comment is for everyone who read this, pranjal sir may not notice this comment. Is anyone aware of this please reply.
If your long term gain is more than 1 lakh then you only you have to pay tax but only 10% on anything above that 1lakh amount. For example your profit is 1 lakh 20 thousand then you have to pay 10% of 20 thousand only which is ₹2000.
@pranjalkamra ... Just wanted to check why can't I login to any of your website with my gmail account only .. why mobile number is needed??
your calculator is not working
Your video quality is good but it can be better, if possible please improve ❤
FIN 30 STOCKS sirrrrrrr......
waiting it from soooo long.
I am also waiting
Koi mes bhi nahi de rahe ayegi ya nahi ayegi
Bahut baar mail bhi kar chuka hu no answer
Pls daily video bnaya kro
Tax calculator doesn't work
Bhaiyya yahi video pichle saal bana dete toh zyada acha hota.😢😮
Excel sheet is not correct. please update and pin it in comment section
Pls bring finology30 asap... lagta hai sab log vul i gaye hain...
I'm also waiting desperately
jinke pass job na ho and salary hi na ho wo bechare kya Karen 😭
Aam ducha
3:11 sir this is wrong on income above 10 lakh tax is 30% on that amount which becomes 150000 rupees . Shayd galati Ho gayi apke video editor se
Jo link mention Kiya Hai calculator wala , please uski permission edit all b kr du vo sirf view all hai , and please do before 31st July otherwise ignore
KYA HUAA SIR AAP KA STOCK MARKET SERIES KA NAHI BANANA HAI HAI TO NAHI BATANA CHAHIE THA AAP KO😵
80G sayad new me avilable nahi h
22 crore par kitna tax lagta hai and surcharge kitna lagega
Surcharge will be 25% of tax liability calculated on income other than dividend and stcg and ltcg . It will be 15% on capital gains and dividend income
Govt must resolve this confusion among people and old and new tax regime must be removed.
Only one simple tax calculation system must be there. Income upto 10 lakh must be exempted from tax.
Ek saal wait karo
Government old tax regime gayab kardegi.
Sabko fir new tax regime me hi jana hoga.
Abhi problem kya hai yeh video se aur bhi confuse hogya 😰 apne indirect cleartax pe chhod diya
True ❤
LOL... I am grateful to Pranjal and I give him full credit for what I have learnt about Stock Market....But this video too sounds like one that is aimed to promote clear tax.... Especially considering that returns filing due date is nearing.....
There is nothing wrong in Promotions but these days Pranjal is doing videos with main motive of promotions.....See most of his recent videos...1 video he is promoting particular company credit card, in other he is promoting specific term insurance company etc.... Even if u promote something just do it as part of regular videos but don't Just do videos with main motive of promoting certain products & earn some money.....
Also he dropped/ stopped value addition videos he used to do and doing promotional videos.... What happened to 100 days challenge, Finology 30....
My point is do a value add video and in between add promotion too making it very obvious that ur promoting that product... Instead of just designing a video just to promote a product....
Plz don't say Pranjal didn't have those intentions.. if u think deeper anyone should clearly understand why he made this video...
I am just disappointed that I am missing that honest, transparent, value adding Pranjal.... Don't loose ur hard earned credibility.... As saying goes "Rome isn't built in day but is destroyed in one".... It doesn't take much time to loose what u have earned over years especially people like me....