The best part of old regime was we were investing our money for future and in some cases the money was tax exempt. Where in the new regime the slab is less to reduce tax. But in return we don’t have money in investment schemes.
That is exactly the purpose of new regime dear. There are tens and thousands of people not investing in anything as they are not interested in such. New scheme will be beneficial for them. That is the SOLE purpose of that scheme. That scheme is actually a lifesaver for many.
People paying tax to government for each and everything whether in form of GST or through Tax and all the government employees are being paid through this amount of TAX received, yet instead of helping the Indian people government employees consider themselves as superior and acts as if they are doing beneficence on us whether they are police or any government hospital doctor etc.
according to you today i know i am that famous and powerful but ground reality is something else 😂 come and see our condition in Income tax office Kolkata 😂 not in your mobilephone😂
Investment 80C is 1.5L , in that case more or less same. U have pf deductions. Old tax regime have more basic exceptins than shown here. Cash donation of 2000 also can be included.
Not every employer has adopted NPS. If I take that in example then those who are not covered under it will have complaint with the video. Examples are examples and you can understand that not everything can be covered in a one minute short.
Respected sir, under new tax regime, can we take deduction of employer PF contribution & broadband reimbursement in case of work from home. If yes, where can we mention both as getting no option in ITR 1 form.
@@darshikagarg1636 deduction towards PF contributions is not allowed under new tax regime. Regarding reimbursement of broadband connection expenses please note that it wil not be a part of your income in your form 16.
Yes, income of first 2.50 lakh is exempted from tax and that has been considered while doing the calculation in this video. There are 3 different things Exemption, Deduction and Rebate.
I have 12 lakhs rupees ctc, but i only worked 4 months in the year and earned only 4 lakhs income in whole year, i was unemployed other 8 months in same year, do i need to pay tax
Its wrong calculation.... New tax regime me samjhayein k 90k kese hua jabki house loan and baaki section 80 k under k deduction me benefit milega wo Kahan gya.
Deduction is allowed only for employer's contribution u/s 80 CCD (2). Applicable only for government employees who joined the employment on or after 1st April 2024. Some states have also not adopted it. Not adopted by all corporate houses and its optional for the corporate employees even if it has been adopted by the respective corporate houses. Only general examples have been considered in the video as it's not possible to cover everything in a 1 minute reel or a short video.
@@pankajmathpal abhi Jo tax bhr rhe h..31 July 2024 tak wala...usme mother pasioner h..but Nps ka alag se humne hamari taraf se khula rkha h..kya us Nps ki 50K wali deduction milgi
1 अप्रैल 2023 से 31st मार्च 2024 के बीच हुई इनकम पर जो TDS कटा है वो आपको अभी जो फॉर्म 16 मिला है उसमे दिखेगा। 1 अप्रैल के बाद हुई इनकम पर कटा TDS आपको अगले फॉर्म 16 जो 2025 में मिलेगा उसमे दिखेगा।
@@pankajmathpal is saal ka April main cut hogaya sir paisa.lekin hamara form 16 abi aayatha usmain dikraye ye bhi.lekin mobile main nahi dikraye uske liye kya karna sir
You are filling now the ITR for financial year 2022-23 and standard deduction in new tax regime is applicable in FY 2023-24 for which you will file ITR next year after March.
Only when we declare all investments then only old one will be better right ? Even if we don't declare will they provide those benefits without any declaration under new regime ?
You should calculate and compare that after claiming all elegible deductions whether your tax liability is lesser than new tax regime and then take the decision accordingly. If you don't declare your elegible deduction to your employer and opt for new tax regime but realise later that the old tax regime is more suitable for you then you can change your decision while filing your ITR and claim refund of extra tax paid by you.
@@pankajmathpal thanks for the response. Mine is 18 fixed AGP. Could you please suggest which one is better. My only doubt is....like in old one we have to declare for eligible deduction but in new we don't have that option to declare and hence will they give any default deductions irrespective of declaration? Or no deductions given in new regime ? By default will they give any deduction in new regime?
80 C 150000 80 D 50000 80TTA 10000 80 CCD 50000 80EEA 150000 24B 200000 Total deduction 610000 1250000 Less 50000 S deduction Less 610000 chap VI A 590000 net taxable income.
Sarkar ki sirf aur sirf yhi Manisha hai old chhodkar sab nye tax pr aa jaye pr new tax na apnaye sabhi old tax se bhare jaise sarkar ne nps jabardasti sabko de diya pr neta khud nhi le pa rhe nps itna achha hai to neta kyo nhi le rhe
@@soumsgaming238 standard deduction under new tax regime was Rs. 50,000 for FY 2023-24 which has been increased to Rs. 75,000 for FY 2024-25. It's not 70k in any of the financial year. Moreover, please check the date of video for the correct information.
Ek video waisa hai, doosra video thaisa hai. We should calculate and decide for each circumstances. But you cannot change frequently. Only one chance marriage and one divorce.😅
750000 mein se salary deduction ka 50000 mines kar do total bacha 7 lakh 7 lakh mein se 3 lakh ki chhoot h Bacha j rs 4 lakh rupaye 400000 mein se naye slev ke dwara 300000 ka 5% hai 15000 baccha 1 lakh 1 lakh ka 10% 10000 hota hai total hua 25000
@@saheldas7271 it's not allowed for FY 2022-23 but allowed for FY 2023-24. Select the correct financial year. If you are filing your ITR now that will be for FY 2022-23 and standard deduction will not be allowed under new tax regime in such case.
Video carefully watch karo. Yadi fir bhi na samjh paye to mai fir explain kar dunga. Tax incremental basis par slab me calculate hota hai. highest band me nahin.
Old Tax Regime (AY 2024-25) 1st Rs. 2.50 lakh - Nil Next Rs. 2.50 lakh @5%- Rs. 12,500 Next Rs. 5 lakh @20% - Rs. 1,00,000 Total Rs. 10 lakh - Tax Rs. 1,12,500 Video me 1,12,500 hi bola hai. Hope I'm able to explain you well. Calculation under new tax regime has been explained in reply to your another comment.
@@ffeditz_standard deduction kya hota h Jaan ke kya kroge. Ese maan lo total income me 50000 rupye ese h jo ghta lene h. Wo tex calculation me nhi aayenge. Bs
![New Income Tax Slab 2023-24 | New Tax Regime vs Old Tax Regime [with Calculator]](http://i.ytimg.com/vi/-Ivrnaj0Ycc/mqdefault.jpg)
It depends on investments/ House loan… you can pay 0 tax in old regime with 12.5 lpa but with new regime you will have to pay taxes.
U r correct
and employers often give many deductions like petrol deduction, professional pursuit deduction, food coupons etc
SD is 75000 in new.
How so
He clearly shows 1,12,500 rupees as tax in old regime
@@Sudarshan.primodial_balanceyou can have several deduction option in old one but new one doesn't provide them.
Roughly, you need at least 25% of deduction to get lower tax in the old tax regime
That means government doesn’t want us to invest and grow our money… should we carry our PPF, NPS accounts? Are they beneficial or just liability?
It depends on investments/ House loan… you can pay 0 tax in old regime with 12.5 lpa but with new regime you will have to pay taxes.
no use in new tax regime, there are no deductions under 80c
@@amritbonia330 80c standard deduction dono me hai
Investment are always beneficial. Yes it's less beneficial in new regime as we can't claim tax deduction but for our future need we need investment.
The best part of old regime was we were investing our money for future and in some cases the money was tax exempt. Where in the new regime the slab is less to reduce tax. But in return we don’t have money in investment schemes.
Govt don't want us to save money
That is exactly the purpose of new regime dear. There are tens and thousands of people not investing in anything as they are not interested in such. New scheme will be beneficial for them. That is the SOLE purpose of that scheme. That scheme is actually a lifesaver for many.
But instead we can invest in mutual fund as well which gives high return and no issue of liquidity in times of emergency
People paying tax to government for each and everything whether in form of GST or through Tax and all the government employees are being paid through this amount of TAX received, yet instead of helping the Indian people government employees consider themselves as superior and acts as if they are doing beneficence on us whether they are police or any government hospital doctor etc.
according to you today i know i am that famous and powerful but ground reality is something else 😂
come and see our condition in Income tax office Kolkata 😂
not in your mobilephone😂
What about NPS Employer's contribution deduction in New Regime
It qualifies for deduction but the choice is not available with every employee.
@@pankajmathpal can i avail I am state gov employee
@@pankajmathpal To whom this NPS. Employer's contribution deduction is applicable? Please share. Tq
Please give one example of new tax regime with nps employer contributions 14 percent
It's applicable only if employer's contribution forms part of salary.
Can you explain how ₹112500 under old tax regime and ₹90000 under new tax regime arrived?
1000000
- 250000 ( nil)
--------------
750000
-250000(5%tax) = 12500
----------------------
500000
-500000(20%tax)= 100000
Therefore 112500 in old regime
When to choose which tax regime I want to go with?
standard deduction is 75k 😐
What component they consider for taxable salary?
Investment 80C is 1.5L , in that case more or less same. U have pf deductions. Old tax regime have more basic exceptins than shown here. Cash donation of 2000 also can be included.
New
tax regime standard deduction 75,000?
In new tax regime NPS is also allowed 80CCD (2).
10% of basic salary we can get exempted.
Not every employer has adopted NPS. If I take that in example then those who are not covered under it will have complaint with the video. Examples are examples and you can understand that not everything can be covered in a one minute short.
So many have adopted and it is compulsory in govt employees not in private sectors
14% for govt employee not 10% from Employor contribution to NPS
What about 87A rebate?
10lakh ka tax 15% ke hisap se 90k kaise hote hain thora samjaye
Complete 12 lakh pr ek saath 15 percent tax nhi lgta hai bhai.
Shuru ke 3 lakh pr zero tax
Remaining income= 12-3= 9 lakh
Agle 3 lakh pr 5% = 15000
Remaining income= 9-3= 6 lakh
Agle 3 lakh pr 10 % = 30000
Remaining income= 6-3= 3 lakh
In 3 lakh pr 15% = 45000
So total tax lg gya = 45k + 30k + 15k
= 90k
Are Chapter vi deductions 80c to 80u not available in new tax regime
Bhai lekin mai to Numericals khojne aaya tha 😢
Bhut acha smjhaya sir
Sir 1350000/- how much would be tax, if we invest 26k in health insurance. 1.5lac in other insurance and all. Please tell
If package lestt than 8 lac then how much amount will be taxable for new and old
Experienced tax payers who chose old tax finds this video is so funny. Giving the wrong direction to take the new tax regime.
VisiT clear tax website.....this video is correct
Sir, is new tax regime having Section 54 and 54f expemtion?
Yes
NPS mai invest kar sakate hai na new tax regime ke under
Employer contribution in NPS qualifies for deduction under new tax regime but not the voluntary contribution.
80c max deductible was Rs 1.5L right?
Yes
Cant we make more deduction in old regime?
Bhai PF insurance aur bhi hai
Now if i choose new regime and in future can i change back to old ?
I think till next year march you should wait to change
New tex regime lene ke bad next year old tax regime se itr file kr sakte hai ya fir har bar new se hi itr file krna pdega
New se old me dobara nahi ja sakte aap
How 90,000/- tax came ?
Respected sir, under new tax regime, can we take deduction of employer PF contribution & broadband reimbursement in case of work from home. If yes, where can we mention both as getting no option in ITR 1 form.
@@darshikagarg1636 deduction towards PF contributions is not allowed under new tax regime. Regarding reimbursement of broadband connection expenses please note that it wil not be a part of your income in your form 16.
But they get rid of all the savings & they will charge more next year. Its a scam.
But will we not deduct basic exemption of 2.5L???
Yes, income of first 2.50 lakh is exempted from tax and that has been considered while doing the calculation in this video. There are 3 different things Exemption, Deduction and Rebate.
Hello Sir You have forgot about NPS investment
30/40 lakh walo ka Keya means middle class walo ka Keya
Pahli baat to home loan interest 90000 se above de hi nhi sakte
Sir section 80c me jo deduction amount 150,000 rs hai ya inki limit bhi change hogi
80c -80u Tak ki section me bhi change hoga
New tax regime me 80c deduction is denied
मैने टीडीएस रिटर्न के लिए पोस्ट ऑफिस सेविंग अकाउंट का नंबर दिया है क्या ये ठीक है??😊
I disagree, it varies from situation to situation keeping in mind the exemptions and deductions allowed under the old regime.
New tax ka return hota hai sir ...
ITR
I have 12 lakhs rupees ctc, but i only worked 4 months in the year and earned only 4 lakhs income in whole year, i was unemployed other 8 months in same year, do i need to pay tax
You pay taxes on what you actually earn in that fiscal year.
SEC 80C K ACCORDING TO 1.50LAC KI HI DEDUCTION MILTI H TO SOLUTION THIS
Its wrong calculation.... New tax regime me samjhayein k 90k kese hua jabki house loan and baaki section 80 k under k deduction me benefit milega wo Kahan gya.
No deduction under new tax regime
12.5 lacs kisaki salary income hai?
Sir, new scheme m NPS ka deduction h kya??
Deduction is allowed only for employer's contribution u/s 80 CCD (2). Applicable only for government employees who joined the employment on or after 1st April 2024. Some states have also not adopted it. Not adopted by all corporate houses and its optional for the corporate employees even if it has been adopted by the respective corporate houses. Only general examples have been considered in the video as it's not possible to cover everything in a 1 minute reel or a short video.
@@pankajmathpal abhi Jo tax bhr rhe h..31 July 2024 tak wala...usme mother pasioner h..but Nps ka alag se humne hamari taraf se khula rkha h..kya us Nps ki 50K wali deduction milgi
Old k hisab se 112500 kaise hua? 75000 hona chaiye na? Pls explain, I am new to this.
10L pe 1,12,500 hoga.
First 2.5L exempt
Next 2.5L @ 5% = 12500
Next 5 L @ 20% = 100,000
Total 112500
Sir march ke baad cut hua income tax O form 16 main dikraye kaisa karna hain.O mobile main nahi dikraye
1 अप्रैल 2023 से 31st मार्च 2024 के बीच हुई इनकम पर जो TDS कटा है वो आपको अभी जो फॉर्म 16 मिला है उसमे दिखेगा। 1 अप्रैल के बाद हुई इनकम पर कटा TDS आपको अगले फॉर्म 16 जो 2025 में मिलेगा उसमे दिखेगा।
@@pankajmathpal is saal ka April main cut hogaya sir paisa.lekin hamara form 16 abi aayatha usmain dikraye ye bhi.lekin mobile main nahi dikraye uske liye kya karna sir
@@pankajmathpal main aapse ek baar baath karsakte
Where will this standard deduction under section 16 is applicable under new tax regime, while filing it is showing me "0" For standard deduction
You are filling now the ITR for financial year 2022-23 and standard deduction in new tax regime is applicable in FY 2023-24 for which you will file ITR next year after March.
Can I claim 80 CCD (2) under new tax regime as govt employee?
Yes
Help me sir
Bhai old tax mein 6L Tak deductions mil sakta hai
Loan ke liye 4 lack ka itr fill kiya but loan nahi mila to kya mujhe is sal itr fill krna pdega
Kuch to income hui hogi. Us par ITR file karo.
12 lakh per new regime ke hisab se 15% yani 1,80,000 hua, aap kaise 90,000 bata rahe ho
Nps investment se 50000 extra discount (new tax resume). Yes or no
No
Sir NPS ka jo pesa kat ta hai, uski chhoot to new me bhi milti h
nhi milti hai.😢
tension kyon hai....puchne se....hum kya bolen..???
Govt hamesha humlogonko tension deti hai. Hum bht prshan ho rahe hai.
Wrong standard deduction on new tax regime correct is 75000
Or refund ka kya wo to new tax ma nhi milega na
New tax regime main 80ccd deduction mil jata hai N.P.S OR ATAL PENSION YOJANA
Only when we declare all investments then only old one will be better right ? Even if we don't declare will they provide those benefits without any declaration under new regime ?
You should calculate and compare that after claiming all elegible deductions whether your tax liability is lesser than new tax regime and then take the decision accordingly. If you don't declare your elegible deduction to your employer and opt for new tax regime but realise later that the old tax regime is more suitable for you then you can change your decision while filing your ITR and claim refund of extra tax paid by you.
@@pankajmathpal thanks for the response. Mine is 18 fixed AGP. Could you please suggest which one is better. My only doubt is....like in old one we have to declare for eligible deduction but in new we don't have that option to declare and hence will they give any default deductions irrespective of declaration? Or no deductions given in new regime ? By default will they give any deduction in new regime?
As per financial 2023 and 24 your tax slabls is 300000 to 15 lakh nearly you will pay only 10% tax when your invome is 1550000 also i.e 150000 only
What if i invest 3lakh deduction will be more
New tax regime 2024-25 standard deduction 75,000
ua-cam.com/video/d6CSQxAFerQ/v-deo.html
@@pankajmathpalidiot.
New tax SD 75000. You don't know?
Agar aap ka home loan hn toh better to go with old tax regime
90,000 kaise aaya
Roughly
Home loan interest 1L/ Hra 2L
80c 1.5L
Lta 30k
Nps 50k
Chacha 1L + ka exemption bhul gaye lagta hai
12,50,0000 CTC or in hand salary?
In hand
hra kaha gaya?
Example me jis tax payer ko liya hai wo khud ke ghar me rahta hai. Home Loan ka interest pay kar raha hai.
80 C 150000
80 D 50000
80TTA 10000
80 CCD 50000
80EEA 150000
24B 200000
Total deduction 610000
1250000
Less 50000 S deduction
Less 610000 chap VI A
590000 net taxable income.
Sarkar ki sirf aur sirf yhi Manisha hai old chhodkar sab nye tax pr aa jaye pr new tax na apnaye sabhi old tax se bhare jaise sarkar ne nps jabardasti sabko de diya pr neta khud nhi le pa rhe nps itna achha hai to neta kyo nhi le rhe
Standard deduction milta hai kya new tax regime me ? ... Hamare teacher ne to mna kiya hai ... Or bolte hai ki new regime me 24/b lagu hota hai
Standard deduction and NPS milta hai
70k standard deduction
@@soumsgaming238 standard deduction under new tax regime was Rs. 50,000 for FY 2023-24 which has been increased to Rs. 75,000 for FY 2024-25. It's not 70k in any of the financial year. Moreover, please check the date of video for the correct information.
75,000 hai na deduction
@@moonramblesthis video was for 2023-24. In FY 24-25 standard deduction Rs . 75000 under new tax regime.
Do we need to submit Proof of Investment in new tax regime?
No
Pls share new tax regime slabs
Can i change regime?
@@xy0988 yes
itna tntn nhi lena ka. DOno bhr ke dkh liya maine. Jisme kam aaya wo bhr diya.
mujhe bhi bata do mere ko kon si bharna chahiy, for 10lpa salary
@@movetoautomation5444 deductions h tumhare to bhro old nhi to new. Dono bhr ke compare kr lo na. Whi kiya maine vi
Sir,
Where do I see old and new resimes on income tax portal to choose while filing e return?
First page only while filling ITR
Prpoer ID vala tax 0 karo in old regime
Sir yai new tax regime 22-23 k liye hai ya 23_24 k liye
New Tax regime me 2022-23 ke mukable kafi changes hue hain. Ye video 2023-2024 ke hisab se hai.
Par agar new tax regime opt kar li tho fir wapis old me aasakte hai kya?
Yes
Yes you can come back but in the next financial year only
@@Ksureshkumar01 correct, and shayd IT return file karte time bhi u can change
Yeb but vapas nahi ja paoge😂😂😂
Iss baar 240 seat aayi hai agli baar 120 batao kon sa better hai😂
Ek video waisa hai, doosra video thaisa hai. We should calculate and decide for each circumstances. But you cannot change frequently. Only one chance marriage and one divorce.😅
If i have short term capital gain of 6 lac. So under new tax regime no need to pay tax?
STCG MUST BE PAID@15%
IN BOTH REGIMES.
NO SLABS EXEMPTION.
You have to pay 90 000 tax in both regimes. They will not consider your slabs nor your income.
But aisa kaise and kyu?
90000 kaise
NPS ka deduction New tax regime me hota h ki nhi
nhi
750000 mein se salary deduction ka 50000 mines kar do total bacha 7 lakh 7 lakh mein se 3 lakh ki chhoot h Bacha j rs 4 lakh rupaye 400000 mein se naye slev ke dwara 300000 ka 5% hai 15000 baccha 1 lakh 1 lakh ka 10% 10000 hota hai total hua 25000
Standard deduction of rs. 50000 not allowed under new regime
It's allowed in FY 2023-24 i.e. current financial year. It was not allowed in the previous financial year.
@@pankajmathpal ok sir thank you
in income tax official website tax calculator standard deduction is not showing for new regime what to do
@@pankajmathpalty for clearing this
@@saheldas7271 it's not allowed for FY 2022-23 but allowed for FY 2023-24. Select the correct financial year. If you are filing your ITR now that will be for FY 2022-23 and standard deduction will not be allowed under new tax regime in such case.
Yrr ye calculation bhi krke bta do pls
New Tax Regime ( AY 2024-25)
1st Rs. 3 lakh - Nil
2nd Rs. 3 lakh @5% -Rs. 15,000
Next Rs. 3 lakh @ 10% -Rs. 30,000
Next Rs. 3 lakh @ 15% - Rs. 45000
Total Rs. 12 lakh - Tax Rs. 90,000
Hope I'm able to explain you well.
@@pankajmathpal thankyou sir 😊
@@pankajmathpal
Thankyou sir 😊
@@pankajmathpal💞💞💞
Are old ne baji Mari hai according to the income example you have given
Sir ye 10,00,000 pe 15 %ITR 1,10,500 thori na hogi?
Video carefully watch karo. Yadi fir bhi na samjh paye to mai fir explain kar dunga. Tax incremental basis par slab me calculate hota hai. highest band me nahin.
@@pankajmathpal sir ek vedio me pls calculate krke explain krdijiye
Nhi smajh aarha
plsss explain 🙏
Old Tax Regime (AY 2024-25)
1st Rs. 2.50 lakh - Nil
Next Rs. 2.50 lakh @5%- Rs. 12,500
Next Rs. 5 lakh @20% - Rs. 1,00,000
Total Rs. 10 lakh - Tax Rs. 1,12,500
Video me 1,12,500 hi bola hai.
Hope I'm able to explain you well.
Calculation under new tax regime has been explained in reply to your another comment.
@@pankajmathpal thankyou sir u explain me very well
All crystal clear
But ye standard deduction kya hota hai pls ye bhi bta do😅
@@ffeditz_standard deduction kya hota h Jaan ke kya kroge. Ese maan lo total income me 50000 rupye ese h jo ghta lene h. Wo tex calculation me nhi aayenge. Bs
Misleading video .
new regime no std deduction?
It was not available for the financial year 2022-23 but allowed in FY 2023-24.
💕💕💞💞💞💞💞
Misleading video
80TTA deduction kaha hai
Interest income nahin hai isliye 80TTA deduction nahin hai.
Is 80TTA there for new regime?? I have seen for old regime till now
Tution fees exemption milega? New tax me jo 1200 deduction hota hai?
Nice video
7.5 lac pr btaye
आधा आधार मत बताओ
Deduction Exemption pura batai na
Old hi better hai