No Tax till 12 Lakh income if you follow this | Income tax saving | வருமான வரி சேமிப்பு
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- čas přidán 5. 02. 2022
- In this video, we have explained how to save tax by doing right investments
There are several deductions under Income tax act - deductions under Sections 80C, 80CCD, Sec 80D, 80DDB, 80E, Sec 24, 80EE, 80EEA
Watch our income tax series - Calculation, old vs new tax regime, HRA, Income tax savings, Section 80C and more: • HOW TO CALCULATE INCOM...
Section 80 C full details
A) Guaranteed Return - Low Risk Investments
1. Employee Provident Fund (EPF) - • Employee Provident Fun...
2. Public Provident Fund (PPF) - • Public Provident Fund ...
3. Sukanya Samriddhi Yojana - • Sukanya Samriddhi Yoja...
4. National Savings Certificate
5. Senior Citizen's Savings Scheme
6. Tax saving Deposits
B) Market linked - Moderate Risk Investments
7. National Pension System (NPS) - • NPS is Tamil | Nationa...
8. Equity Linked Savings Scheme (ELSS) - • ELSS - Equity Linked S...
9. Infrastructure Investments
C) Insurance linked Products
10. Term Life Insurance
11. Life Insurance Endowment Plans - • What is ULIP and Guara...
12. Unit Linked Insurance Schemes (ULIP) - • What is ULIP and Guara...
D) Others
13. Housing Loan Principal Repayment
14. Children's Tuition Fee
Complete details on 80C: • Section-80Cஇல் 14 வழிக...
EPF in Tamil: • Employee Provident Fun...
PPF in Tamil: • Public Provident Fund ...
NPS in Tamil: • NPS is Tamil | Nationa...
ULIP/LIC & money back plans: • What is ULIP and Guara...
ELSS: • ELSS - Equity Linked S...
Sukanya Samriddhi Yogana: • Sukanya Samriddhi Yoja...
Comparison of 80C: • Section 80C Comparis...
Watch our income tax series - Calculation, old vs new tax regime, HRA, Income tax savings, Section 80C and more: • HOW TO CALCULATE INCOM...
Watch Sharemarket for beginners series: • Basics of Share Market...
Subscribe to our channel: / @thinkingtamizha007
We have answered many of your questions & doubts in this part 2 video - czcams.com/video/kx63l4FWUJg/video.html
Watch our income tax series - Calculation, old vs new tax regime, HRA, Income tax savings, Section 80C and more: czcams.com/video/wtriages-KQ/video.html
Section 80 C full details
A) Guaranteed Return - Low Risk Investments
1. Employee Provident Fund (EPF) - czcams.com/video/RslX1344Bfc/video.html
2. Public Provident Fund (PPF) - czcams.com/video/I9UTR3kB01Y/video.html
3. Sukanya Samriddhi Yojana - czcams.com/video/_sThIPt_coc/video.html
4. National Savings Certificate
5. Senior Citizen's Savings Scheme
6. Tax saving Deposits
B) Market linked - Moderate Risk Investments
7. National Pension System (NPS) - czcams.com/video/RVC2jZXwsdQ/video.html
8. Equity Linked Savings Scheme (ELSS) - czcams.com/video/9upZSyPl0vs/video.html
9. Infrastructure Investments
C) Insurance linked Products
10. Term Life Insurance
11. Life Insurance Endowment Plans - czcams.com/video/4NAviRROgGE/video.html
12. Unit Linked Insurance Schemes (ULIP) - czcams.com/video/4NAviRROgGE/video.html
Hi Brother, I've been watching all of your videos about tax .Thanks for posting it.Can you tell me which will be good for saving tax, whether a low basic pay or a high basic pay and HRA?
Llh
Ò
Keep video in English bro
The concept of saving 40% of salary will give you the optimum fund to carry on your retired life in the most satisfying manner. Great video. Love it !!!
Thanks for your kind words sir!!
.
@@thinkingtamizha007 nenga CA va bro?
@@thinkingtamizha007 ll
What is the guarentee u will live the same quality of life or even be alive after 70?
Very nice explanation and practical examples. Only less number of videos available in Tamil, please keep doing this impressive work to make this education reach everyone.
Thanks
After all monthly amount gets reduced, though we aim for future savings, but we are ignoring the present. Good & Evil both.
நல்ல தெளிவான விளக்கம்.. சேவையை தொடர்ந்து வழங்க வேண்டுதலும் வாழ்த்துகளும்..
Good presentation.
For a senior citizen whose income is only FD interest. Can you give illustrations on how to avoid TDS and tax dedications allowed.
Vera level brother... crystal clear
Very useful explanation to all. Thank you.
அருமை நண்பரே வாழ்த்துகள்
Nice and clear explanation!
Subscribed bro.. the way you explained is really great and helpful. Thanks a lot buddy..
It is the best video about TDS in Tamil.....thanks a lot
Good! Please try to make similar video for non salaried people such as income from other source like MF, share trading, interest from FD, rental income etc, and show how tax can be saved?
Great video, thanks a lot for clear and crispy explanation
Either EPF or NPS, any one will be offered by companies, not both.
The employer contribution of EPF or NPS , is not the part of CTC. These are business expenses of that company , not to be the deduction or borne by the employee .
Also if the HRA of 240000, is to be deducted as rent, we should submit the PAN number of the house owner, who may not prefer .
No. Companies consider these part of CTC. Let us say, an employee doesnt opt for EPF or NPS, company will pay it to employee as part of salary. if it is a business expense alone, it is not paid. If you want check with HR of big companies.
And some companies offer both EPF and NPS. It depends on company policy, its not a rule.
This video will give clarity to your question - czcams.com/video/kx63l4FWUJg/video.html
@@thinkingtamizha007 you are absolutely right ... Its company policy ..my company offers both ..
சிறப்பாக விளக்கம் சகோ
i'm really appreciate and thank you for your great sharing sir..
Hi Sir
Super Video
Kindly make a same topic Video for Business owner And Sole Properiter
Please advise tax benefit for 30%with housing loan (both occupied and rent) sir
Really neat presentation and very helpful... Thanks bro
Thank you so much bro, ipo than salary increase achu, enaku kanaku sonna madam ku nana parava ila😂, en salary ku savings lam poga 0 tax thane varanum nu sonen. But finally ipo than nimadhiya eruku bro. Thank you
Great info
Just one thing to add for Sodexo card till 2200 can be added for one month(Rs 50 for 2 times a day)
Good video bro! Haven't realised this before..
Govt salary person kku one video podunga for saving income tax,sir
Really good informational video.👌
Very clear . well explained. Very educative . May be you may have a video or pl include a case who takes a home loan and pays EMI . Also percentage wise give the profile of earnings, loan interests, savings , tax for a 12 lakhs case and 18 lakhs case as it may cover 45 to 55 age middle class also .
simple and useful ...thanks for this video
Bro, Good one. But, tricky one. Hope many would agree to me the fact that almost all the top corporate companies who employ most of the workforce that provide salary more than 10 lakh per annum won't agree to give this much basic salary. That is the catch point. Reason is, they would have to pay a hefty amount as Employer PF amount in that case. Also, it's not advisable to put all or most of the salary into long term investments. And, to get LTA exemption you need to show your travel bills which means you are spending that money for the sake of exempting it from taxation. Sometimes, paying tax is better than not paying tax. We just have to decide which one is better and suitable as an individual based on current lifestyle and future plans...
1) The idea of this video is to show a case where such level of tax saving is possible. So, people are encouraged to save more. WHile I agree with you on the point that many dont provide 50% basic, there are some good companies that do. Some companies are moving towards this practice to maximize benefit for employees.
2) While I have shown LTA as a component of CTC, I have not shown as a deduction here. Hence, the above scenario is possible even with out LTA
சூப்பர் தல😀
Very well explained.. Awesome bro :)
Practically speaking 25000 rent is too high and need to submit PAN of the Land lord..80C is max 1.5 lakhs... You have added one other 80CCD which I'm not aware of but overall 3.24lakhs is not possible. Also all MNC employee will bear insurance. Though we consider all the caclaculation is right how much he will get as salary. Tat you need you need put.. He hardly get less than 50k (rent 25000 PF 6000 VPf 6000 insurance 6000) put logical video don't fool around people.
If a salaried person with 40% of his income goes to Personal loan will not be able to save for his tax. It depends on situation how your income is spent .. good video 👍
That's right. But, our intention to show that there is such a scenario possible and encourage people to save and invest
@@thinkingtamizha007 video is useful bro i am telling the pain of some people who move their life with PL.
40% loan ketuna tax keta venava
Very Useful one. Hats off to you.
Wow great presentation
Very useful video bro!! We got an idea how to save money now. Thank you so much and I wish you all success ❤️
Thanks for your kind words bro!!
Super Bro...
Super bro, good informative
Simply super ❤️
Superb information
Thanks for your information.
இதே போல் மூத்த குடிமார்கழுக்கும் ஒரு பதிவு போட வேண்டுகிறேன்
Sure!!
Hi sir. My husband CTC is 7.5L / annum. Pls guide in what are all the ways he can invest to avoid tax
Great video
Good, same like this put video for ITR-3 & 4
Very Informative
Nice explanation bro..
Can you please upload any videos regarding pay fixation to CGS
very good explanation
Arumai nanbare!
bro 150000+50000 maximum deduction 80c+nps, if employer contribution is detectable what is section for it
The amount that he is saving actually goes towards investment. End of it, he tend to gain on a long term.
Very very informative
Your video gives a clear picture , thanks 🎉
Useful
In govt under old pension EPF, under new NPS. Only one option available. Not both
Nice bro!
Very useful video, can pls explain for a person whose income is only from rent, and it is about 1lakh permonth, how much would be tax for him.pls explain
Nice 👍
Nice explanation sir
Brother, thanks for nice explanation. But companies won't offer 12 percent of basic also additional cost in NPS, pls chk actual and let us know. Most of the companies will not be ready to pay more contribution
Hi Brother. You are partially right. Many companies dont provide 12%, but many companies do. Note that these arent additional cost for company. Once a company negotiates a CTC with an employee, everything is paid within that only. there is no concept of additional contribution here. The intent of this video is to show one case where there is a possibility of zero tax. This is to encourage people to save more tax.
Please advise tax savings for NRI, NRO account holders
Good info ❤️❤️❤️
Thank you sir
Most of the house owners don't provide pan details for HRA. Maximum declaration in that case is usually 8777 per month.
That is a decision every tenant make. You need to get it before taking the house.
Is Employer contribution in Contributory Pension Scheme (CPS) of Govt of TamilNadu is eligible for deduction under sec 80CCD(2)?
Super
Please don't say you are not a taxation expert. Iam a chartered accountant, your presentation is more professional and detail than many of the college tax professors
Thanks for your kind words!!
It is informed that employer contributions in NPS & EPF can be taken for deduction in gross income, when it is added to total income
Yes. Private companies define CTC by including these components. Just in case, if you dont opt for EPF or NPS through your employer, you will get this in your hand as salary in which case it becomes part of your taxable income.
This video will give clarity to your question - czcams.com/video/kx63l4FWUJg/video.html
@@thinkingtamizha007 Can u tell difference between NPS and EPS...which is useful...if investing on both.....Which one to be stopped??? answer please?
@@kandasamyarunachalam3321
Watch the following videos. You will get a clear understanding
14 ways in invest under 80C: czcams.com/video/EYTM3JpaKPU/video.html
EPF in Tamil: czcams.com/video/RslX1344Bfc/video.html
NPS in Tamil: czcams.com/video/RVC2jZXwsdQ/video.html
Nice one Bro. You can change the title as 14L instead of 12, employee with a fixed CTC of 12L will have around 1.5L as variable and 50K as gratuity.
No bro.. variable pay is fully taxable
@@thinkingtamizha007 Hi bro. Can you explain this in a video
Very well explained
Thank you
If Employer does not deduct the NPS, EPF and they did not provide Meal coupon, what do we do
Super bro
Hello you tuber,, for a pensioner HRA is allowed ?.... Is it been seperated in pension payment ?
Tax savings mutual fund will come under 80C... We can use that to get more returns
Ji... How can we opt for NPS through employer? Is it applicable for all employers?
Hi. Online game income ku tax evlo kattanum? Tax exemption edhavadhu Iruka? Enaku imps la money bank account ku trs pandranga
Sir please make a video for free Lancers earning 12 CTC how to save tax under old and new tax regime.
Thanks for you nice explanation.
Question:
The employer contribution on NPS alone is deductable through 80CCD(2), whereas employer contribution on EPF (7200 in your example ) is not able to deduct in any class. could you please specify how to get this deduction in tax calculation?
Employer contribution from PF will come within ctc. When one opts for it, the employer contribution becomes tax free and not considered as part of gross taxable salary..while it is not shown as deduction in form 16.. it essentially becomes tax free..
On the contrary, if one doesn’t opt for pf, then this amount becomes taxable income..
@@thinkingtamizha007 Thank you.
In mutual fund there is plan called tax saving fund. So we can invest upto 1.5lakhs PA under section 80c. That too they are giving more than 13% return (average).
They are market linked and not stable.. for e.g see market returns between may 2021 and 2022.. even nifty didnt move 10%
NPS private companies should support right then only you will get the employee contributions if not that will not be there
Thank you. What about elss mutual fund?
super
Great video with nice example! Pls explain how will taxes work if I'm investing in direct equities for long term instead of mutual funds.. I'm only planning to invest and not sell/book profits for a decade. Still they would be taxable?
It will be under long term capital gain slab. So stagger your withdrawals. First 1 lakh is tax free and all above 1 lakh is taxed at 10%
@@rbikarthik I think he is asking about exemptions in income tax after investing in equity
The gains from equity market comes under Long term capital gains tax(LTCG) and Short term capital gains tax(STCG)
@@siddharthjmt8216 : There are only 2 ways to pay STCG or LTCG
@@siddharthjmt8216 yes
Hi bro i agree with all your points, I'm 30 now If I'm start investing in NPS, Postal, LIC I'll get full returns after 30 years only, I'm worried about What is the inflation rate after 30 years, Would the NPS organization will be available at the time, What about the safety. Of my money, LIC is Privatized. The same might be happen to other sectors right. In simple words I don't trust the organization. Based on the recent policies implemented.
Hello Sir , just inform Employer PF contribution amount taken income tax exemption?
Sir. I like to investing in kissan vikas is advisable since i dont have any commitments and whether tax can be paid annually or at the time of maturity only
good bro :)
Bro. Parents ku gift amount send panni deduction kaata mudiuma. Let's say I send my father 2 L and he invests in senior citizens scheme
In new tax regime…how much self contribution other than 10% that’s already deducted in salary can be claimed sir…
Bro ellam ok, EPF nu solreengalla.. athula namma invest panna mudiyuma? Or salary ley pudichidrangale atha solreengala?
Sir , Good informative video 🎉. I have a doubt . I will be very thanful if you clarify . Im not getting hra. My company is providing me lease accomodation for 16,000 per month . However actual rent im paying is 28000 per month . 12,000 from my own pocket . Whether any possible way to show some or full amount of 12000 as deductions in any section ??
Both employee contribution and employer contribution, voluntary contributions comes under 80c limit. NPS has one time contribution of 50 k plus 10 percent of basic from monthly contribution. You can contribute more In nps but won't get tax benefit. Life insurance like lic and ulip is in 80c. Medical insurance 80 d
Employer contribution in epf doesnt come under 80c limit of 1.5L.
@@thinkingtamizha007 employer contribution around 1 to 2k per month for stated CTC. Since most of company providing less basic.
Also I am still not sure about NPS employer contribution, I am hearing this as new.
Anyway I got some good points to save in NPS. Thanks.
@@thinkingtamizha007 Rent also 25 K, really tough to get landlord pan card to get claim, even though if we pay 25K, due to less basic, we can't get benefit value as you mentioned in your calculation.
Home loan interest and principle show panna, HRA kamika mudiayathula?
Bro, Soopr for tax saving Benefits.
Tax saving kaga Nama investment Kula porom , suppose emergency fund thevapatta enna panrathu for example child education...
Flexible benefit plan la bike , car and phone bill potta enum koraikalam
What about those running their life by getting Fixed deposit interest, no other source of income??? How much annual interest not taxable??
PPF & EPF comes under 80C . NPS max 50K that comes under 80CCD. You can’t deduct your own category.
Nps also comes under 80c, only additional 50k comes under 80ccd(1b)
What about pensioner Tax saving who is getting Rs 40 k p. m as pension and Int on deposits Rs 25 k p. m?
NPS returns v poor, no employer contribution taken even while they give f16, reg health insurance it's like either you serve insurance companies or pay tax...
How come govt can levy tax on already taxed pay. Is govt not encouraging FDs??
Sir no deduction inHRA and deduction in GPF and gross salary is 12 lakhs then is it possible? Maximum allowed savings only 1.5 lakhs? Is in it?