Save Income Tax with 21 Sections in Old Tax Regime | Income Tax Calculation [Hindi]
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- čas přidán 27. 12. 2023
- Save Income Tax with 21 Sections in Old Tax Regime | Income Tax Calculation [Hindi]
In this video by FinCalC TV we will see 21 sections under income tax act to help you save income with old and new tax regime in hindi. These sections include investments under section 80C, section 80D, section 80CCD(1B), section 24 and many more sections.
These options will help you to save income tax with old tax regime and new tax regime.
All Deductions Website Article:
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Income Tax Calculator Online:
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Income Tax Slabs 2023-24:
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New Tax Regime Deductions Allowed:
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After watching this video following queries will be solved:
How to Save Income Tax with old tax regime
Deductions allowed in old and new tax regime
Is section 80C allowed in new tax regime
What are the Income tax saving options
Income Tax return filing things to know
Old vs new tax regime which is better
Income Tax Calculation 2023-24
All deduction sections to save income tax
Deductions in income tax act
Income tax slab rates 2023-24
How is 80C Calculated?
Total Deductions in 80C includes sum of the investments amount made in above mentioned 80C schemes along with Section 80CCC and 80CCD investments. The maximum limit is Rs. 1.5 lacs under Section 80C in a financial year. And additional amount of Rs. 50,000 under Section 80CCD(1B) with NPS - National Pension Scheme
Can you claim Deduction in 80C and 80CCC separately?
Not separately, but a total of Rs. 1.5 Lacs can be claimed after combining amounts from both Section. Only Section 80CCD(1B) for NPS investment allows to claim additional Rs. 50,000 apart from Rs. 1.5 Lacs in Section 80C.
Which option in Section 80C has minimum lock in period?
ELSS or Equity Linked Saving Scheme is the option that helps you to save income tax under Section 80C with minimum lock in period which is just 3 years. Watch Best ELSS Mutual funds to invest here in this video.
Is NPS under 80C or 80CCD?
NPS full form is National Pension scheme and falls under Section 80CCD(1B) with maximum investment limit of Rs. 50,000, which is apart from Rs. 1.5 Lacs under Section 80C
NEW TAX REGIME:
- No Income Tax on Income between Rs. 0 to Rs. 3 lacs
- 5% Tax on Income between Rs. 3 lacs to Rs. 6 lacs
- 10% Tax on Income between Rs. 6 lacs to Rs. 9 lacs
- 15% Tax on Income between Rs. 9 lacs to Rs. 12 lacs
- 20% Tax on Income between Rs. 11 lacs to Rs. 15 lacs
- 30% Tax on Income above Rs. 15 lacs
OLD TAX REGIME:
- No Income Tax on Income between Rs. 0 to Rs. 2.5 lacs
- 5% Tax on Income between Rs. 2.5 lacs to Rs. 5 lacs
- 20% Tax on Income between Rs. 5 lacs to Rs. 10 lacs
- 30% Tax on Income above Rs. 10 lacs
EXAMPLES:
Let's say your gross total income as Rs. 6,15,000
Let's say your total investments as Rs. 75,000. So your net taxable income becomes equal to Rs. 6,15,000 minus Rs. 75,000, which is equal to Rs. 5,40,000. These Deductions are applicable only if you are using Old Tax slab rates. Your net taxable income when considering New Tax slab rates remains Rs. 6,15,000, as no deductions are applied on your total income.
Now to calculate your income tax, if you are an employee or pensioner, you get a standard deduction of Rs. 50,000 only if you are using old tax slab rates.
So your net taxable income becomes equal to Rs. 4,90,000 if you are using Old Tax Slab Rates. But it remains as Rs. 6,15,000 based on new Tax Slab rates.
WATCH FULL VIDEO TO KNOW MORE ABOUT NEW INCOME TAX SLAB RATES AND MORE EXAMPLES.
#SaveIncomeTax #TaxSavingSections #IncomeTax #FY2023-24 #IncomeTaxCalculation #FinCalCTV
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DISCLAIMER:
Examples and demo used are for Illustration purpose only and might not cover every detail of examples shown.
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List of All Deductions:
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Home loan ke top-up per rebat milega video bhejo
You explained clearly for each and every section of Income Tax thank you Sir 🙏
Very nice information, very easy to understand.
Very helpful nd easy to understand 😊
Namaskar Sir, bahut sundar❤❤
Sir, you provide very valuable information, Thanks a lot 👍❤🙏
Thanks and welcome
Can you please tell what amount is taxable in case of salary received in hand after loss of pay or gross pay is taxable
Please add additional cess in income tax calculator, which is applied after calculating income tax.
Spine surgery treatment ke liye koun sa section me deduction claim kar sakte
I retired from government job in Jul 23 and drawn HRA for FY 23-24 upto Jul 23. Still I am living in a rented house. What will be my HRA exemption?
80G me donation ki kuch limit hoti hai kya or usme chhoot kitni le sakte hai
Pl make a detail vdo of NPS as we don’t know , how quit the NPS account & how one can withdraw the whole amount out of it & what is the lock-in period for it W? What if the amount in NPS is less than 2.5 lac
Can we claim both deduction u/s 80 DDB fo person, who suffered massive heart attack and3 stens had to be implanted for which medical expenses was above 3 lac s , also ha d hip 11 years back and now has mobility problems 80U?
Very well explainedCan you please help me with my question? I have a home loan on my retired father's house who is a co-borrower in the loan and I live in the same house. I claim exemption (u/s 24b) against interest paid on the loan. Can I also claim HRA for living in his house? I pay him 20k per month in his account.Nobody has been able to answer me correctly on this. Please do answer. Thanks.
Mera stock market income 500000 lakh hai aur shop ka income 300000 lakh hai, 150000 ₹ 80c me invest ment hai kitna tax lagenga new or old regime me 5 lakh short term capital gains hai
Retired persons ke liye deductoons bataye
Sir mane ki, Maine post office me 5-year ka fixed deposit kiya hai of Rs 1 lakh ka so I can claim deduction of Rs 1 lakh under 80C, right? Please clear this doubt.
Sir my father is 67years old and he is a pensioner. Is he applicable for NPS if yes then please explain how ?
Meri income 7 lakh hai aur mai 7000 rent deta hu per month to iska bhi kuchh dena hoga ya 80c me count ho jayega
@fincalc new tax regime mei LIC ka premium bharna parta hai? If I am giving premium like 60k yearly. Then isko new tax mei declare karna padega?
new regime me lic premium ko claim nahi kar sakte, sirf old me kar sakte hai
80G unlimited limit hai kya?
80GGC bhi unlimited hai kya?
Section 80G ka maximum limit kitna hai?
Kya employed ladies 80 D m apne sasur ke medical claim m rebate le sakti h kya
Sir my total salary 8.5 lakh which tax regime is good
Make an video on tax saving in new tax regime
sure, stay tuned!
Pf contribution from both employee and employer is calculated under 80c or only employer contribution only pls help me to understand.
Only employee contribution
Ye PDG kse milega ?
hello sir, if all investment done in all section but how much Max tax save. Plz suggest consider old tax regime
depends on how much investments you can make in mentioned deductions, more investments you make - more tax can be saved with old tax regime
I am receiving HRA 80000 , Can i claim interest on home loan for 1.9 lakh
80 CCD 2 des 14% hai na ?
what about section80CCD(2) ? Is it coming under 80C or outside from it ?
Employer's contribution to NPS is outside of 80C
Expenditure on medicine and investigation incurred on existing diseases like Diabetis and Hypertension and it's complicstion can it be exempted in IT calculation ,if yes then explain under which section ?
Medical expenses and transport allowance was replaced by standard deduction of Rs. 50,000 for salaries employees and pensioners
So we get flat deduction now as standard deduction instead of claiming the bills separately
Medical expenditure like medicine for parents can be claimed under 80D
Sir ek baar NSC karva lene ke baad is NSC ko continue 5 year tak istemaal ker sakte h ya per year tax rebate ke liye per year alag se karvate rahni padegi
Har saal Alag investment pe claim kr skte h
Sir mujhe itr file karwana h kya ap karte hain
To fincalc, bhai Mera papa ka health checkup 15000 annual hai, aur medicine 5000 monthly kya 80 d me deduction le sakte hai plz plz reply
Yes
Sir let's agar feb 2024 ko 1lac ka NSC karva leta hu to iska benifit 2023-24 m melega ya ye 2024-2025 m rebate milega
FY 2023-24 me milega tax benefit
Ye pdf kse milega
मेरी इस वित्तीय वर्ष की कुल आय 865000 हैं न्यू और ओल्ड रेजिम में कितना टैक्स लगेगा 150000 की छूट एवम होम लोन का ब्याज 60000 हैं कृपया जानकारी देवे
old tax regime me Rs. 34,840 tax hoga
new tax regime me Rs. 37,960 tax hoga
Income Tax Calculator use karo yaha: fincalc-blog.in/income-tax-calculator/
Salaries income hai ya business income hai aap ka
U/S 24
Please divine 80DDB
If I opt for new tax regime for the financial year 2023-24, then can I shift to old regime for the financial year 2024-25?
Yes while filling itr you can select the tax regime
Bhai 150000 April me ek baar deposit krne par interest jyada milega ya nahi🙏
Kidhar?
dear, can u provide all calculation excel sheet as u made.
You can download Income Tax Calculator in excel here:
fincalc-blog.in/income-tax-calculator-fy-2023-24-excel-download/
Also use the online calculator here:
fincalc-blog.in/income-tax-calculator/
@@fincalc all excel sheet in 1 sheet ...all kind of related taxes
Meri Income es Saal 1473696h muje kon sa regime Lena chahiye pls batana
Old agar investment kar rakhe hai in tax saving schemes
Sir PLI 80c me atai hai kia?
life insurance premiums 80C me aata hai
पिलाई आपकी सैलरी portion मे आयेगी means Income portion मे आयेगी
House rent calculation kaise hoga
Meri salary 604000 hai aur Lic 48000 hai, kitna tax pay karna padega
0000
Aap CA ho kya bhai
OLD
good
Sir Mera. Salary 12Lk hai mujhe kitna tax aayega old or New resigm mai
In hand kitna aata h bhai 12 lakh me cut karke
Aur PF kitna company deduct karti h
Meri 50L h
Bhai apka telegram chanel par is video ki PDF nhi h pls provide bhai ji
Kya ek bar new tax resume ko select karne ke bad pratyek sal isi ko select karna padega ki old tax resume ko bhi select kar sakte hai
woh government badme batayegi, jaise last year bataya tha unhone.