Old vs New Regime | Which is better? Tax Saving Options | Income Tax Planning Guide 2024

Sdílet
Vložit
  • čas přidán 24. 01. 2024
  • Income taxation in India has become complex with the introduction of the Old Regime vs New Regime. Individuals often struggle to determine the better option for tax payments. This is the season for proof submissions, and delaying action can result in significant tax payments in February or March. To avoid this, individuals earning 5L or more should refer to the table shown for regime comparison based on yearly salary and deductions.
    Salaried individuals can change their regime while filing the Income Tax Return (ITR) if they become eligible for additional deductions or exemptions during the year.
    Deductions play a crucial role, covering areas like home loans, investments, donations, and company reimbursements. The provided chart illustrates various deductions under the Old Tax Regime for a hypothetical annual income of 10L.
    Exemptions and deductions differ; exemptions mean a portion of income is entirely tax-free, while deductions reduce taxable income. The first level of exemption is the EPF (Employer's Contribution), accounting for 12% of the basic pay. Deductions include standard deduction, home loan interest, and various investment options under sections 80C, 80D, 80E, etc.
    When considering investments, emphasize term insurance over high-premium policies. Term insurance offers substantial coverage with minimal premiums. Ensure insurance choices align with your family's needs. Use reputable platforms like Policybazaar to compare and choose the right policy for tax deductions.
    Buy Term Plan & Get Online Discount Upto 10%👇
    tinyurl.com/3kpudxza
    Buy Health Insurance and Get up to 25% Discount 👇
    tinyurl.com/2v2d6es9
    Avoid common mistakes like obtaining a house loan solely for tax benefits, making meaningless investments for tax saving, or opting for ULIP plans. Utilize joint housing loans for maximum benefits, validate HRA proofs, and avoid fake proofs. Strive for maximum deductions, but prioritize investments aligned with broader financial goals.
    Lastly, be cautious about common mistakes in tax-saving efforts. Saving taxes should be incidental, not the primary driver of investment decisions. Prioritize investments aligned with financial goals, as chasing short-term tax breaks may not contribute to long-term wealth growth. Focus on investments with higher potential returns, even if they offer less immediate tax relief.
    Content taken from • 2024 Income Tax Saving...
    Courtesy : Asset Yogi
    ----
    Join Learner's Community : / @finance.boosan
    ----
    Stock Market Courses : www.financeboosan.in
    ----
    Whatsapp Channel : whatsapp.com/channel/0029Va6x...
    Instagram : / finance.boosan
    Other useful links : beacons.ai/boosan
    _______________________________________________
    Video Editor : / jagan_editor
    _______________________________________________
    #financeBoosan #usefulinformationBoosan
    Stock Market, Mutual Funds, Investments, Personal Finance, Make Money Online

Komentáře • 253

  • @finance.boosan
    @finance.boosan  Před 5 měsíci +6

    Buy Term Plan & Get Online Discount Upto 10%👉 tinyurl.com/3kpudxza
    Buy Health Insurance and Get up to 25% Discount 👉 tinyurl.com/2v2d6es9
    Content courtesy from Asset Yogi.

    • @kowsalya1291
      @kowsalya1291 Před 5 měsíci

      I am a beginner in investment.
      I saw ur videos investing in Nift 50.
      While investing. In Coin app
      In the subject line it mentions "Index find /Etfs"
      Should I invest in that.. Plz suggest
      What does that mean plz

    • @12thor21
      @12thor21 Před 4 měsíci

      Bro sip la epdi month on month amount change panrathu bro please say (angelone)

    • @12thor21
      @12thor21 Před 4 měsíci

      If I cancel sip where the money goes

    • @vishals4106
      @vishals4106 Před 4 měsíci

      Hi bro UTI Nifty 500 value 50 index fund is performing better than UTI Nifty 50 index fund. Do I switch into a Nifty 500 value 50 fund?

    • @selvamm1234
      @selvamm1234 Před 2 měsíci

      What is the difference between term insurance and health insurance

  • @ramprasad24_
    @ramprasad24_ Před 5 měsíci +11

    Much accurate and clearcut points on every single video. As a 21yr old boy seeing his video has already made a terrric change in my investment jouney. Already feeling immense pleasure to this guy and to his work. Your so good sir and thank you ♥️✨

  • @wisdomfactsinfo
    @wisdomfactsinfo Před 2 měsíci

    Thanks Anna , romba usefula irundhuchu ❤

  • @dayal4256
    @dayal4256 Před 5 měsíci +2

    Very useful and explained in layman terms...thanks bro...we are expecting more videos like this from you..🎉

  • @samprabhu06
    @samprabhu06 Před 5 měsíci +4

    Hi bro,
    Very clear video👍..
    Could you please explain below things,
    1) In standard deduction of Rs.50,000 (simply we can reduce Rs.50,000 from salary..? )
    2) Where should mention the interest income which we receive from bank F.D (1 or 2 years F.D)
    3) Where should we mention interest income receive from property
    4) Where should we mention STCG or LTCG .?
    Please explain where should we mention above things in your excel sheet.
    Mainly this STCG,LTCG is very confusing and don't knwo where to het that statement and also what to do with that

  • @surya445
    @surya445 Před 5 měsíci

    Very informative. Thanks for the clear cut video

  • @anandb9279
    @anandb9279 Před 5 měsíci

    Excellent calculation and video...

  • @vaishnaveesivakumar9769
    @vaishnaveesivakumar9769 Před 5 měsíci +2

    Thank you for your valuable content .

  • @SenthilKumar-on4qw
    @SenthilKumar-on4qw Před 5 měsíci

    Very useful and needed video bro..thanks a lot ☺️

  • @user-mu5ph6ew9t
    @user-mu5ph6ew9t Před 5 měsíci

    Welcome back from long time

  • @mohanasundhra
    @mohanasundhra Před 4 měsíci

    Thanks for the Useful Information Anna...❤

  • @endrumenedhu9153
    @endrumenedhu9153 Před 18 hodinami

    I always like the way you deliver the content..great and helpful..much appreciated

  • @praveenkumarg5074
    @praveenkumarg5074 Před 5 měsíci

    Your videos are very useful bro thank you ❤

  • @sitharamm4687
    @sitharamm4687 Před 5 měsíci

    Thankyou for detailed information

  • @jagadeeshraj8133
    @jagadeeshraj8133 Před 5 měsíci

    Great thank you... Excellent knowledge sharing. Kindly post the video, how to file the ITR and get the refund.

  • @abcdabcd8605
    @abcdabcd8605 Před 4 měsíci

    very useful video!

  • @selvaprakash20
    @selvaprakash20 Před 5 měsíci

    Hi, if you dont mind could u pls share what video making tools (camera, sotware, microphones etc) you use to create your videos? Thanks

  • @premanand3810
    @premanand3810 Před 2 měsíci

    Super ji.. awesome

  • @subbarayalumohandoss1545
    @subbarayalumohandoss1545 Před 4 měsíci +2

    Bank FD ஐந்து ஆண்டுகள் போடுவதற்கு பதில், NSC V111 issue வில் முதலீடு செய்யலாம் . அதில் வட்டி அதிகம். மேலும் Accrued int ஐ 80C ல் காண்பிக்கலாம்.

  • @FriendswithFoods
    @FriendswithFoods Před 5 měsíci

    super clear 👍

  • @srivasang
    @srivasang Před 5 měsíci +2

    Can your share your insights on how an NRI can invest in Indian stocks? What brokerage apps you suggest ? what are the tax differences on capital gains for NRI and Resident Indian. Thanks

  • @antonyraj1226
    @antonyraj1226 Před 5 měsíci

    Super super bro, very useful talk

  • @Gururain
    @Gururain Před 5 měsíci

    Good video,
    I checked the Tax calculator in G-link
    1st 2 sheets are same
    please add the deduction sheet.

  • @1974_me
    @1974_me Před 3 měsíci

    Thankyou sir

  • @akshayarathina3594
    @akshayarathina3594 Před 5 měsíci +11

    Brooooo 😭😭😭 ivlo naal enga irntheenga 😢, thanks a lot

  • @arun4846
    @arun4846 Před 3 měsíci

    Thanks bro ❤❤❤

  • @manojkumar_sm
    @manojkumar_sm Před 5 měsíci +4

    Bro , please explain Fund of Fund ( FoF) , i saw few nasdaq 100 funds which is better to invest via FOF or direct investment in US Stocks.

  • @umaranisampathkumar7619
    @umaranisampathkumar7619 Před 5 měsíci +1

    Your tax vedio is good. Post one vedio how to fill tax for the systematic withdrawal plan investment for a non salaried employee.

  • @musictime5319
    @musictime5319 Před 2 měsíci

    Very nice

  • @vineshsivasubramani7919
    @vineshsivasubramani7919 Před 5 měsíci

    Bro stock analysis made easy series ahh continue panduga or you can make a one lengthy video of stock analysis interested people watch whether it short or long

  • @srinaga1975
    @srinaga1975 Před 5 měsíci +1

    Very good video

  • @CyberPsychGaming
    @CyberPsychGaming Před 5 měsíci +1

    Idhavida detailed IT calculation kaatravanuku lifetime settlement ra 💥💥 The only detailed video needed for new IT payers. Thanks a lot ❤❤
    One question, is it possible to calculate at this point of time if I am eligible for tax free and invest the amount needed (in eligible deductions like ELSS funds) within March to become tax free?

  • @abineshzor
    @abineshzor Před 5 měsíci +1

    Hi Brother, I also live in the Netherlands. Could you please shed some light on the dutch tax calculation along with 30% ruling?

  • @sankarmayhul2907
    @sankarmayhul2907 Před 4 měsíci

    PPF VS INDEX GROWTH MUTUAL FUND WHICH ONE IS GOOD FOR RETURN

  • @rmano9933
    @rmano9933 Před 2 měsíci

    Useful

  • @hasanmeerashahib1008
    @hasanmeerashahib1008 Před 2 měsíci

    Thanks for Tamil explanation.
    I've noticed you mentioning standard deduction for salaried people, but it is applicable for all individual filers.
    In my understanding, difference in Exemption & deduction is-
    Exemption is applicable only to Salaried people (impact head Income from Salary) while
    Deduction is applicable for all individual filers ( impact Taxable income ).
    In terms of meaning both nature is same.
    Please correct if I'm wrong. Thanks again for understanding and sharing your knowledge.

    • @venkateshabalajibalan2706
      @venkateshabalajibalan2706 Před měsícem

      It is not so.. Standard deduction is only for salaried persons.. standard deduction is not like other section 80 deductions.

  • @sachinsathish7484
    @sachinsathish7484 Před 4 měsíci

    Good

  • @user-tq7co1xj4u
    @user-tq7co1xj4u Před 4 měsíci

    Bro first of all i thank for your video. Because of u i learned lot of knowledge, Terminology and tricks in share markets...can u suggest some best small cap mutual fund for short term like 3 to 5 years for lumpsum...

  • @arunkarthick4354
    @arunkarthick4354 Před 5 měsíci +1

    Neenga Employee than ethula sollurenga bro.. Bro Person nu Tax Save panna video iruku na sollunga or Video podunga Bro..

  • @PraveenKumar-et1uc
    @PraveenKumar-et1uc Před měsícem

    Bestttttttt Explanation

  • @anandharajanthony6639
    @anandharajanthony6639 Před 4 měsíci

    Section 10(I) and 10(ii) பத்தி சொல்லுங்க bro..

  • @akashsekar990
    @akashsekar990 Před 4 měsíci

    Bro,Endha time la SIP invest pannanum,acc to market trend pathi oru video podunga bro

  • @kayathrikayou34
    @kayathrikayou34 Před 4 měsíci

    Hi,,, please have a look in to the issue described in your class videos... Not able to access your videos... We have highlighted in your class... Please look into ASAP

  • @arunprakash9370
    @arunprakash9370 Před 5 měsíci +2

    sir iam invest nifty50,next50,hdfc midcap,nippon small cap,nasdaq100 sip is good?

  • @alphahalogaming3123
    @alphahalogaming3123 Před 4 měsíci

    India is becoming simplier

  • @brindhad7787
    @brindhad7787 Před 17 dny

    Thank you na

  • @sprakash9321
    @sprakash9321 Před 5 měsíci +38

    Robert Kiyosaki, author of 'Rich Dad, Poor Dad ' is having 1.2 billion debt .but their fans says ,the debt is for save tax . please explain ....

    • @finance.boosan
      @finance.boosan  Před 5 měsíci +51

      Not only Robert Kiyosaki, but any billionaire, including Ambani, may carry substantial debt. They leverage debt for investments, benefiting from potential tax deductions and also have access to debt at negligible interest rates.
      However, this scenario differs for the common man who might face more challenges. Unlike billionaires, ordinary individuals may not gain much from interest deductions and could incur losses. Managing debt responsibly is crucial, considering factors like interest rates and repayment terms, to avoid financial stress. Individuals should carefully assess their financial situation and make informed decisions about taking on debt.

    • @sprakash9321
      @sprakash9321 Před 5 měsíci +2

      @@finance.boosan Thanks for your information 🙏🔥

  • @muralibelieve1936
    @muralibelieve1936 Před 5 měsíci +1

    2024 best lumpsom investment fund ena bro?

  • @anbuanbu6591
    @anbuanbu6591 Před 5 měsíci

    Hi brother how to invest index fund

  • @vishals4106
    @vishals4106 Před 4 měsíci

    Hi bro UTI Nifty 500 value 50 index fund is performing better than UTI Nifty 50 index fund. Do I switch into a Nifty 500 value 50 fund?

  • @CA_Surajdeo
    @CA_Surajdeo Před 5 měsíci +6

    👉Want to add few points for people who make some COMMON MISTAKES while focusing on TAX SAVING:
    1. Saving taxes should be incidental, not the primary driver of your investment decisions.
    2. Prioritizing tax savings can lead to suboptimal choices. So, Investments should primarily align with your financial goals like child education, wealth creation, retirement planning, Buying a Car, or House, Foreing trips (WHY NOT) etc.
    3. Chasing tax breaks with short-term investments might provide momentary gains but may not contribute to long-term wealth growth. Focus on investments with higher potential returns, even if they offer less immediate tax relief.

  • @venkatp5158
    @venkatp5158 Před 5 měsíci

    Bro calculation i cant find your web site plz suggest

  • @jothi2650
    @jothi2650 Před 5 měsíci +1

    How long the course will be?

  • @boobalan4051
    @boobalan4051 Před 4 měsíci +1

    If TDS is deducted, should we consider it calculating tax and pay?

  • @FayazAhmed-rs1fo
    @FayazAhmed-rs1fo Před 5 měsíci

    I have 1 dout what is the difference between debts fund to bonds someone pls explain this

  • @ajayaj6890
    @ajayaj6890 Před 3 měsíci

    Hi bro
    how can i get the above video used tax Excel to calculate my own salary slab

  • @luck-xi2je
    @luck-xi2je Před 5 měsíci

    Sir I started HDFC LIFE classic police IN POLICY BAZZER growth will be good in that

  • @aravindhsai97
    @aravindhsai97 Před 4 měsíci

    Can u share your Excel tool

  • @marimuthujayaseelan
    @marimuthujayaseelan Před 3 měsíci

    Hi Boosan, Thanks for explaining clearly. Can you please make a video on how you converted your MF and shares to NRI account while being abroad and how to convert it back after settling in India. With zerodha it is offline process and with Kuvera they used to say to close all existing and start new NRI account where we will loose old Investments. Will this conversion works in same way for new OCI card holders also as they will renounce Indian citizenship? Thank you for your other explanations too.

  • @ajaychellakumar2886
    @ajaychellakumar2886 Před 5 měsíci

    Liquid fund details video please

  • @skeerthi1
    @skeerthi1 Před 5 měsíci

    As iam cg employee, my pension amount will accumulate under nps.There is option to change the pfm, but how to select the best pfm in this.if possible kindly make video for nps cg holder.nps tier 1 have 3 pfm lic,sbi &uti .but uti is performing low continuously . If i change the pfm , how will it perform

  • @user-dh4it7il9r
    @user-dh4it7il9r Před 5 měsíci

    Bro please explain about Motilal Oswal nifty 500 index fund.....

  • @sukumarchandran3010
    @sukumarchandran3010 Před 4 měsíci

    Can you share the excel sheet please or how you populate column details

  • @rhari007
    @rhari007 Před 5 měsíci +1

    Where is the excel to download?

  • @poornip1859
    @poornip1859 Před 4 měsíci

    Hi bro.. Can you please explain a video about sovereign gold bond which is going to be held this month with limited time period. Before that we can get a clear clarity. Thanks in advance!

  • @amcisth
    @amcisth Před 5 měsíci

    Bro IT calculator link not working

  • @parij4840
    @parij4840 Před 5 měsíci

    please tell me the 80DDB and 80DD

  • @jwssvo2366
    @jwssvo2366 Před 3 měsíci +1

    sir do you do itr filing.. what is the cost

  • @mohankumar.n6
    @mohankumar.n6 Před 5 měsíci

    Boosan pls tell about bike insurance and how to choose which company is good

  • @make_love_forever
    @make_love_forever Před 5 měsíci

    Tata capital monefy app சொல்லுங்க brother

  • @anbazsn1007
    @anbazsn1007 Před 5 měsíci

    9.3L which is better

  • @crktuty08
    @crktuty08 Před 4 měsíci

    Where can i see the details other than salary? Exp. Bank sb interst, Fd interest, ltcg, stcg and etc

  • @jeevithas9330
    @jeevithas9330 Před 5 měsíci

    Bro...namma below tax slab la vandalum equity, mutual fund, ltcg, stcg ku lam tax pay panra mathri irukuma

  • @thewelcometodark
    @thewelcometodark Před 4 měsíci

    Sir in my income, employers contribution is not included. Then should I deduct it in my income in new regime,?

  • @siva4885
    @siva4885 Před 4 měsíci

    50% pf from basic salary not happens in corporate company also what to where we can report

  • @dineshkumar-rj2bv
    @dineshkumar-rj2bv Před 5 měsíci

    Itc
    Wipro
    Coal lndia
    Tata power
    Sbin
    Long-term invest pannalama

  • @giridhar1287
    @giridhar1287 Před 5 měsíci +1

    Where is showing 40% discount code?

  • @shanthie5429
    @shanthie5429 Před 2 měsíci

    If both salaried person ,suggesting both to take term insurance?

  • @yuvarajm7415
    @yuvarajm7415 Před 5 měsíci

    ITR file panurathu epd soluga bro !!

  • @arulprakashsangararaj3260
    @arulprakashsangararaj3260 Před 5 měsíci

    Please elaborate more about term insurance.

    • @finance.boosan
      @finance.boosan  Před 5 měsíci

      Best TERM INSURANCE | Things to see before buying Term Insurance
      czcams.com/video/MybInIGu29w/video.html

  • @karthikeyan-sx9uj
    @karthikeyan-sx9uj Před 2 měsíci

    under 80c if i invenst in elss funds for the amount of 1.5 lakhs, then can i show the entire 1.5 lakhs which is the cap for the 80c in deductions ?

  • @ArchanaV-sd6bz
    @ArchanaV-sd6bz Před 2 měsíci

    Brother, 80G epdi tax reductions la shown panrathu, Atha konjam explain panunga, declare panrapapo panamudiyala, return epdi 80G ku vangurathu

  • @DINESHKUMAR-hf2tj
    @DINESHKUMAR-hf2tj Před 4 měsíci

    Hir sir Tn State govt employee oda CPS (CONTRIBUTION PENSION SCHEME) NEW REGIME LA LESS PANNALAMA UNDER SEC 80CCD(2)

  • @ayyappanramasamy7975
    @ayyappanramasamy7975 Před 5 měsíci

    Hi sir
    I have only trading income no other income, please suggest me the tax saving

    • @arunkumar-ty7rk
      @arunkumar-ty7rk Před 3 měsíci

      You are also eligible for deduction under section 80c and 80d up to Rs.200000

  • @hari.24
    @hari.24 Před 5 měsíci

    Bro deduction pathi soluga bro

  • @velmurugan8153
    @velmurugan8153 Před 4 měsíci

    Tata AIA Flexi Growth Fund and ULIP explain briefly bro?

  • @reshmamenon5730
    @reshmamenon5730 Před měsícem

    Bro...fixed and variable pay irukumpodhu which ampunt i have to take fr gross salary?

  • @poorneshp1387
    @poorneshp1387 Před 5 měsíci

    Brooo quant active fund la invest start pannirukan ipodha next 15years ku pannalaam nu irukan bro correct a irukuma

  • @pudhayalmusic
    @pudhayalmusic Před 4 měsíci

    Zerodha coin vs kitne defferent sollunga yendha app la long time sip pannala

  • @Prakashcenation
    @Prakashcenation Před 4 měsíci

    Brother tax harvesting every year panna compounding gains lose pannuvom ah atha konjam explain pannunga ?
    Anyone have idea about this ?

  • @KadiravanM-jw4yl
    @KadiravanM-jw4yl Před 2 měsíci

    My expected gross annual salary may come to 8 lakh.
    Should I pay the tax for the remaining amount after deducting 7lakh i.e rebate .
    Please give suggestions.

  • @ramkumark1470
    @ramkumark1470 Před 2 měsíci

    80G pathi solunga bro

  • @jeevithas9330
    @jeevithas9330 Před 5 měsíci +3

    Hi bro...ltcg tax la first 1lakh ku namma tax pay panna thevai ila adu every year vara first one lakh ka
    For instance 2020 mar la stock vanguren
    2021 apr la i sell stock as ltcg
    (First one lak tax free)
    2022 inda year vara first one lak um tax free ah bro or 2021 la matum tana
    And every upcoming year also..
    Clarify bro

    • @finance.boosan
      @finance.boosan  Před 5 měsíci +2

      Every year the first 1L₹ LTCG is tax free.. we can repeat this harvesting every year

  • @MohanT_design_engineer
    @MohanT_design_engineer Před 4 měsíci

    Hi Bro. Nice, can you please share this excel ?

  • @Aadhithyan01
    @Aadhithyan01 Před 4 měsíci

    How to become an entrepreneur from scratch oruu video podungaa brother ❤

  • @imranimu9406
    @imranimu9406 Před 5 měsíci

    New region claim pana mudiyatha

  • @jagaklinger2446
    @jagaklinger2446 Před 4 měsíci

    Super bro ❤❤👍👍 Good explanation 😮😮 Need your Excel sheet bro. Am in payroll role bro your TDS working template will help for my career bro please 🙏

  • @user-fw8ph4ed7m
    @user-fw8ph4ed7m Před 3 měsíci

    👍

  • @mrbalaji5939
    @mrbalaji5939 Před 4 měsíci

    Bro please self-employed tax details potuga bro

  • @deepikad6064
    @deepikad6064 Před 2 měsíci

    Bro, I have a doubt, in the new tax calculation, taxable income is 8,87,500. it is greater than 7 lakh. for this in which slab they will calculate the tax. whether they will consider 10% of taxable income as tax or the first 6lakh of taxable income is considered for 5% of tax and remaining in this case 1,87,500 of 10% of tax amount will be calculated. please explain bro.