New Tax Regime vs Old Tax Regime: Which Is Better? | Economy | UPSC
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- Опубліковано 26 січ 2025
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In this video, compare the old and new tax regimes to determine which is more beneficial for taxpayers and the economy. Analyze key differences, advantages, and disadvantages of each system. Explore the impact of tax reforms on individual taxpayers, businesses, and the overall economy. Prepare effectively for UPSC examinations with comprehensive insights into taxation policies and economic implications.
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We need more videos on Tax in India'.... Salaried persons are being used as cash cows leaving middle class to stay in middle class and not allowing them to grow to upper middle class...
True but I am happy to contribute in my country GDP and looking after lots of infra developments recently enabling me to drive and commute conveniently ... We need more such videos to plan smartly .. agree !!!
@@Viveksharma0071mera lavda development
Ministers like MP, MLA etc. should also pay tax. It is so unfair that they get free telephone, air tickets, house, servants, free electricity, subsidised canteen food in government offices / state rooms, no tolls and so much more. It's more like a lottery for them.
Exactly!! It is like private employees, millionaires and billionaires paying taxes and govt sector looting this, mostly ministers.
Tax on what salary? Or the amount of black money they get ? 😂
Yes. I support you.
@@umabisht3588 MP MLAs got 1 lakh to 3 lakh/month. So they should pay tax.
Plus they get 3 Lakh salary per month 😂😢😢
Tax payers who pay income taxe have no benefit from centre Government, this is very disappointed.. Government should giving some benefits to tax payers like...life Insurance, Medical treatment benefit...etc.
Even govt excluded these benefits in New Tag Regime
Even after paying so much tax, the government is not providing any good facilities.
Time lagta hai bhai 10 saal mein sab kuch nahin hoga
@@nikhilvardhantawania4591 mai kisi political party ko target nahi kr raha hu dost. Bas bata raha hu ki hamare system me bahut jyada loopholes hai. India ko china se pahle freedom mili thi lekin aaj china aur India me jameen asman ka fark hai
9000+ crore saare party milka kr electoral bond ke through sab party kama rhe hum yaha 80crore 100crore aur 200crore me baat kr rhe aur wo v 10saal ka baat kr rhe jo kaam padd rha 🙂👍🏼
😂😂😂😂😂 10 saal se 18 ghante kaam kr rhe hai ab aaram krne do @@nikhilvardhantawania4591
@@user13rs25880 cr. logo ki baat hai naki paise ki, 80 cr. logo ko free khana deke har saal 2.5 lakhs crores ka loss karti hai ye govt. or 12 lakhs crores se bhi jyada ka kharcha hoga 5 yrs mein😮. Tax leti hai Middle se or loan maaf karti hai corporate companies ke, free ki cheeze deti hai garibo ko, Middle man ko kya mila - BABA JI KA THULU😂
Tax 10%se jyada nahi hona chahiye by Rajiv Dixit
Rajiv dixit ki party ki hi sarkar hai 😂😂
Comment krne Ameer nhi aate yeha or tax system achanak he nhi khatam Kiya ja skta
Rajiv Dixit expert economist tha kya ?
@@khottasikka4700Rajiv Dixit kisi party ke nhi the 🙏
@@khottasikka4700राजीव दीक्षित किसी पार्टी में नहीं थे
PPF - PENSION PROVIDENT FUND ❌
PUBLIC PROVIDENT FUND ✅
NPS - NATIONAL PENSION SYSTEM ❌
NATIONAL PENSION SCHEME ✅
PPF - invest is applicable in new tax....?
@@sanjibkumarsen1163yes
@@sanjibkumarsen1163 no
@@go1dmonthly 1000 in inflation i am dead😂😂
For those who is happy from increase rebate bracket of 7 Lakh but truth is different.
- Govt removes 80C (ELSS, PPF, EPF, FD, Children tuition fees, etc) which is having limit of 1.5 lakh exemption.
- HRA (House Rent Allowance) is also removed which can benefit you to exempt 50% of basic salary or 10% of total salary.
- Medical insurance premium or 80D is also removed.
- Savings Bank Interest u/s 80TTA and 80TTB is also removed from exemption.
- Interest on Home Loan u/s 24b on self-occupied or vacant property is also removed from exemption.
- Other Chapter VI-A deductions
In next election, we middle class or working people will only vote for the government who talks about improving taxations for working class. We won't vote for religion or anything else, our main concern will be taxes.
What do we get for paying such high taxes?
Can we atleast get faster legal case completion, priority in legal matters etc etc.
We get no benefits even after paying this much tax from govt
tax dene ke liye job karni hoti pahle wo dhundh le, i am 80 percent sure that you will gonna exceed the annual income 7 lakh, you need to earn above 8L, koi logic na mile to religious matter bol ke cool bann lena chahiye,
Job hai bhi sahi tere paas?😂
@@divym0 🤣👌🏼
@@Mananyadav- jitna tere ghar ka saal ka kharcha hoga na usse jyada tax deta hu mai. Aur nalle berojgaro ko kya pta tax hota kya hai. Baap ke paise pe jeene walo khud kama ke dekho tb pta chalega
@@divym0 behen ka rishta laega jija ji ke lie?
10-12 lakh and above tax hona chahiye and highest tax slab should not be be more than 25%
are you mad that is not even 1% of the population. 98% of the population is already not taxable. we need to tax everyone but reduce the percentage.
@@parasgahlaut1866 yes true ..
True but 25 % means we are working 4 months for government
Tax should not be more than 2%
@@AG-wm5mo E bhai esa nahi hota . wo toh jisspe surcharge lagta hai woh 25% ka rr karte hai
@@parasgahlaut1866 INDIRECT TAX TO SAB DE RHE HAIN!
I think max tax shall be 10-20% that too above 7-8 lakhs....
Any percentage higher than 10-20% in tax makes people unwilling to pay tax ultimately leading to lesser collection of tax
Policy makers have phd degree in economics 😂😂
@@kapindrasinghrajpoot8779 PHD degree done in close cabin with zero field knowledge : they are the main reason many people evade paying tax
New regime is simpler as there are fewer specific exemptions but increased base exemption. Overall you will pay the same tax but new regime will make it easier to file tax.
No, this is not correct, in new tax regime taxes are higher, approx doubled. Thats why i am still filling tax under old tax regime.
If govt really wants people to opt for new tax regime, they would have to increase income brackets.
@@H_ibeesh Did you not watch the video? They did increase the income bracket... In old system Tax exempt till 5Lakh in new system tax exempt till 7 lakh. Government is trying to increase compliance by reducing complexity. Also less paper work equals less processing cost for government which translates to taxpayer money saved. Money saved is also money earned after all.
@@H_ibeesh you have to pay less tax in new tax regime than old one but their are no or very less exemptions in new tax regime
@@parveshsinghbisht7421 Yes if you have invested in EPF then you can deduct it.
@@Manas-f5i so tax will not get deducted if net income is less than 7 lakh
Thank you sir please make more videos about topics like finance, taxation, tax harvesting...etc, topics like this are very helpful
* Chlo shururaat krte h or dkhte h chl kya rha h*
Ankit Sir best line 😂❤❤
Recently joined the Central gov job ..i was worried about filling ITR ..many thanks to you !!!
New tax regime introduced under section 115BAC of Income Tax Act,1961
From the Previous year 20024-25 as per Income Tax Act,1961 (fy 24-25) it will be the default tax regime for taxpayers
Here is the slab rate for tax calculation
Upto 3lakh-------------exempt
3,00,001 to 6,00,000---5%
6,00,001 to 9,00,000---10%
9,00,001 to 12,00,000--15%
12,00,001 to 15,00,000-20%
Above 15 lakh ---------30%
Income Upto 7 lakhs is exempt (no tax will be paid)due to rebate under section 87A of Income Tax Act,1961
No tax untill 750000 because 50,000 standard deduction also for salaried person
@@Human12914 yeah you are absolutely right for salaried individual exemption is upto 7.5 lacs
Can i got a job in your firm. I'm jobless despite of knowledge. Everywhere unemployment
@@Human12914 Sorry, I'm a student myself, how can I give you a job
Include politicians income under income tax, every person will get rax benefits after that...80C will get increased to 10L.
Question answer is (a) agriculture income partial income upto 50,000.00 exmpted then after amount will be taxable
The ruling government is distributing this tax to all the criminal leaders such as Brij Bhusan Singh.
Kuch bhi 😂😂😂
phir yahan bhi politics , u r*tarted immature 2 rupees IT cell.
@@prodoshdutta5136😂
😂
Bro only 1.5% people give tax in india so government don't have that much money and then government take loan from world Bank OR IMF ... if 10% people start giving tax to government then government will not have to take any loan from word bank or imf
True
Well income tax is direct tax paid by few peoples whether indirect taxes are paid by everyone over goods and services .
08:09 - Public Provident Fund. Not Pension provident Fund.
00:04 Debate between new tax regime and old tax regime
01:45 Benefits of specifying old tax regime
03:38 Comparison of tax calculation under old and new regimes
05:12 Comparison of tax rebates in new vs old tax regime
07:01 Comparison of tax benefits between old and new tax regime
09:11 Old tax regime offers more deductions and benefits
10:45 New tax regime offers limited deductions compared to the old tax regime.
12:32 Comparison of surcharge in old and new tax regimes
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Firstly govt has not been able to brought out Direct Tax Code Bill. And people has to pay income tax at higher rates than corporates/ companies pay taxes.
Dear Sir u said the new tax regime is the default option now. Is it applicable to state govt employees also ? Or do state government employees have to inform their employer separately ? If yes within which date we have to inform ?
If your investments are more than 3 lakhs then go for old regime, if not then new.
I think we all youths need to unite and not side with any political parties and ask the government and held them accountable for taking our tax money and not improving the quality of life
Can common people go to the court regarding income tax?
New Tax Regime would be beneficial for most of the people...less complicated and easier to file
Ca kis liye hai
Paise k hisab nahi rakh sakta to paise kyse kamayega 😂
Not at all anpadh
Paagol😂 after 60 family rasta pe hoga
@@A2ZcLIp Bhai CA Finalist hu...😂
Jitni facility mil rhi hai vo bhi bohot badi baat hai , sirf 7-11% log hi tax *bharte* hai . Khud hi socho ye 90% logo ka tax burden in 11% logo par aaega to tax to jada lagega hi , imandari se sabko tax bharna chahiye
Chup government political loot 🎉
Kyu bhai maine 90% public ka theka le rkha hai kya
If taxable income is more than 15 lakh, Then which regime is good????
Why the government felt need of having two different tax regime. If you can throw some light on this..
Mene new Activa 6 g kharidi paise jodkar or mene 2 saal tak savings ki or jab kharidi 3 April ko jismein mene 17000 tax gst ka or 8000 tax RTO kaa diya
PPF is public provident fund.. NOT pension provident fund.
Meaning of surcharge is useless as high income group never gets paid all in salary form. Salaries are on TDS but LTCG and STCG are taxed low.
Very simple explanation ❤👍🏻
PPF is public provident fund and not pension provident fund
Option A (Agriculture Income)
So overall OLD TAX REGIME is Better if you hav investment.
IF you are earning more than 15 lpa then the new regime is better
Sir, a minor mistake in the video, ppf means public provident fund not pension provident fund , and other is that u keep on saying that upto 7 lakhs no tax ,its only in the case of new tax regime
I think he is not clear about tax calculation. Lots of wrong information
Can we opt old in next year if we opt new this year ?
Government takes so many taxes from saleried employee to provide facility for rich businessman and poors. 😢
Sir what about Ambani and adani do they pay income tax
Come on boy, you should ask about tax by business man / entrepreneurs.. why only Adani and Ambani why not Birla, TATA, etc??
The three listed Ambani companies paid more than Rs 20,730 crore in tax in FY23.
Seriously Jain Sahab ?
@@PankajSharma-df8yp Rahul mutra drinker hai isko bas 2 hi yad rahte hain
How change new tax regime to old tax regime
If criteria for the eligibility of EWS is income under 7 lac then, why govt is even imposing tax on such person. Income upto 10 lakh should be tax free on the othet hand highincome earners like corporate getting rebates. From 37% to 25% Wow
Tax free income slab has to be moved to Rs 10 lakhs and slabs should be Rs 10 - 20 lakhs with 10% tax and above that 20 and 30%.
Government is taking almost one month salary from a middle salaried income person in the name of tax but sadly no body is talking about. Is this should not be the agenda in the election.
Thanks it is really helpfully
PPF- Public provident fund not pension provident fund
Thank you my doubt has been cleared, I will go with new regime....
Is there any excel calculators available?
Simply going with the new tax regime!
Great video sir❤
I Pay 45k tax every month for God knows what! Such a pain in the ass
I know it's just jajiya
Same here, 45k tax every month for no effing reason.
Great session
Sir my brother is an army officer......pls guide us which income tax regime is good for him....
Sir, NPS or OPS ke bare mein ek video banaiye
Maximum Businessman and Shopkeepers do not pay taxes properly. A salaried person already has to pay tax directly or indirectly!
Populatiin vs Tax payers in 🇮🇳 100:01 , which means only 1.4 cr citizens have paid tax whereas it will be arround 5 cr.
That means, almost 3.50 crore population evades tax.
Buisness/professional income walo ko 20/10 lakh kamai pe zero tax wahi salary emloyee ko तकरीबन 1.5 से 3 lakh टैक्स.
Govt का ये कैसा न्याय है.
इसके लिए अगर सोशल प्लेटफॉर्म पर public support kare aisa koi petition or issue raise kar sakte hai??
Bahut badiya explain sir
PPF stands for public Provident Fund
Is it necessary to declare about the tax regime for pensioners??
Very informative video..
Taxation is high especially as Rupee is so much devalued..
What about epf in new tax regime? Is it taxable
Sir wo refund nhi aata...govt. ne 25000 tax maaf kr diya...naa aap tax jmaa kroge naa he koi refund aayega
PPF investment is applicable in New tax ...
Sir, maine 1 lakh ka PPF liya hai iss baar aur 6 LPA salary hai... mujhe kon sa tax regime lena chahiye pls bataiye?
Political parties needs to stop freeby promise during elections and make India income tax free.
Really Ankit sir's explanation is best...
Apni pathsala wale sir
R8 now, do we have the options to switch from new to old....?
Let the tax slab be there but increase the limit of every slab by the percentage of inflation every year.
A person with an income of 5 lakhs can survive today after 5 he has to earn 10 lakhs per year.
Great sir 👍🏽
Income tax collection is increased by 24 % in this year. So goveronment should introduce a term insurance plan free to the taxpayers as per their income tax paid. For ex. there should be term insurance of Rs 50 lakh to 2 crore to taxpayers. So that it shall encourage them and also securitise them in case of his death.
can we change go from new to old tax regime once chosen?
Yes, you can but only if you are a salaried person. For businessmen once they have chosen a regime they can't change it ever.
Thank you for clarifying sir
Great knowledge
It's Public provident fund and not pension provident fund
How many government employees paying Income tax, all of government employee and politician looting this country, wasting common public money in their Ayyashi
Paying 30L in taxes this year
This is really outrageous
(c) payment of lease rent
We can also invest in Elss and term insurance
india me tax itna jayada hai ke Aisa lagta hai ke hum Apne liye nhi balki Sarkar ke liye paise kama rahe h.. itne paise to mai government ko nhi dene waali. mai swiss bank me account khol lungi..
😂😂😂😂
India ka tax to gdp ratio abhi bhi itna low hai. Bahar kabhi nikloge to pata chalega aakhir tax hota kya hai. Aur tax hota hi hai sarkar ki madad ke liye, taaki wo desh ki economy sahi se sambhal paaye. Aaj jo infrastructure, highways, space exploration, low external debt, gdp growth, strong military mil raha hai, wo tax ke badaulat hi hai.
@@Global-Netizen Australia mein 40% tax chahe koi kitna bhi kamaye pr wahan unke kharche ko deduct krte hai, jaise - ghar ka kiraya, bijli bill, khane pine ka samaan, study, petrol-diesel, car kharidna, health, etc.
you are trying hard day and night but still not able to earn 500000 per annum and talking about tax imposition, go and learn taxation first it looks heavy taxation its not i am CA student but ill-informed people directly start criticizing law, just to become cool in comment section not good thing, you should learn taxation first
@@Abhishek-qv7es deductions India mei bhi available hoti hai bhai
Ye australia ka system yaha apply kardiya to sab rone lagenge ki savings nhi bachti high cost of livings, vagerah vagerah
Australia is better economy hai hum
Sir can u explain 80cccd(2) with example??
sir mera monthly salary 69120 hb gross h to income tax kitna katega aur mujhe kaun sa regime select karna chyie
Kya mutual fund ko invest ki jaankari de sakte hai
Why should an individual invest in ppf,nps if deductions are not provided?
New tax code is of no use as tax free income slab has not been increased and all the deductions have been removed.
Govt atleast should relief from TDS and in income tax after applying GST.
A taxpayer is suffering from three sides.
Hello I have 8LPA. How much Tax will pay
Can we choose our tax regime every FY?
Yes
How tax is calculated if someone is getting arrears of previous financial year?
your arrears income will be considered as Income of current financial year & will be taxed this year.
Small businesses ko cover nai kiya explanation me.
C) Payment of lease rent
Shi mai vedio quality ek no. Aari h
Thank you sir❤
Nice explanation
Thank you sir for the clear explanation 🙏
Is there any Standard deduction in new tax regime?
Yes. There is. 50k
This year if I go for new tax system, can I still opt old one next year?
Yes, can switch to old tax regime in next financial year. But old tax regime will soon be abolished by govt to simplify taxation.