Maximizing Tax Savings: Understanding the New Income Tax Regime and Tax saving guide in 2024

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  • čas přidán 20. 05. 2024
  • Small correction sec 80CCD(2) limit is not restricted to 50000. Please refer this video for 80CCD(2) for limit.
    czcams.com/users/live3jqTPIbI428?...
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    The Union Budget for Financial Year 2024 brought significant changes to the income tax landscape, making the new tax regime the default option for many taxpayers. From revised tax slabs to extended rebates and new deductions, understanding these changes is crucial for optimizing tax savings.
    📊 In this detailed video, we delve into the nuances of the new tax regime, exploring strategies to maximize savings while navigating the trade-offs of exemptions and deductions.
    💡 Our comprehensive Excel calculations guide you through various tax-saving options, including Section 80C deductions, HRA exemptions, LTA claims, and Section 24 house property loss deductions. Whether you're a salaried individual or a business owner, this guide empowers you to make informed decisions for a tax-efficient financial year.
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    Disclaimer- Although all provisions, notifications, updates, and live demos are analyzed in-depth by our team before presenting to the public. We hereby provide our point of view only and tax matters are always subject to frequent changes hence advisory is only for the benefit of the general public. Hence neither Fintaxpro Advisory LLP nor its designated partner is liable for any consequence that arises on the basis of CZcams videos.
    Copyright Disclosure - As per Sec 52 of The Copyright Act,1957 Fintaxpro Advisory LLP shared this video with a clear objective to educate the public at large and thus constitute the fair dealing with content for the purpose of reporting of current events and current affairs, including the reporting of a lecture delivered in public
    ©️Fintaxpro Advisory LLP
    #TaxSavings #IncomeTax #TaxPlanning #FY24Budget #TaxRegime #FinancialPlanning #TaxTips #TaxDeductions #TaxExemptions #Section80C #HRA #LTA #Section24 #FY24Update
    Tags:
    Tax Savings, Income Tax, Tax Planning, FY24 Budget, Tax Regime, Financial Planning, Tax Tips, Tax Deductions, Tax Exemptions, Section 80C, HRA, LTA, Section 24, FY24 Update, Union Budget, Tax Calculation, Tax Strategies, Taxpayer Education, Tax Efficiency, Personal Finance, Business Finance
    Video Timing
    0:00 Intro to Topic
    1:30 Default tax regime for AY 2024-25
    1:40 How to opt in for old tax regime
    3:02 Tax Rates in new tax regime for AY 2024-25
    3:35 Surcharge in new tax regime for AY 2024-25
    4:27 Pros of new tax regime
    4:38 Standard deduction available in new ta regime
    5:02 Rebate in new tax regime
    5:33 Tax relief of 25000 in new tax regime
    10:56 Concept of Marginal Relief in new tax regime
    12:45 Family pension deduction in new tax regime
    13:24 Deductions available in new tax regime
    15:03 Cons of new tax regime
    17:15 Deduction/Exemptions not available under new tax regime
    21:01 Evaluate between old vs new tax regime
    31:20 Outro

Komentáře • 132

  • @FinTaxPro
    @FinTaxPro  Před měsícem +2

    Small correction sec 80CCD(2) limit is not restricted to 50000. Please refer this video for 80CCD(2) limit.
    czcams.com/users/live3jqTPIbI428?feature=share

    • @aniketgupta3899
      @aniketgupta3899 Před 4 dny

      Sir ji link aapne share Kiya hai usme 80ccd2 k baare me kahan btaya hai.Plz sahi link share kre ya bata de ki isme max. Limit kitni hai 50000 ya usse jyada.

  • @parmindersingh3530
    @parmindersingh3530 Před 2 měsíci +1

    Thanks sir for your support

  • @ramaiahg3495
    @ramaiahg3495 Před 2 měsíci

    many many thanks for your detailed information

  • @surajprasad7396
    @surajprasad7396 Před 2 měsíci +1

    Thanks you sir 🙏

  • @SanjaySharma-yc4cb
    @SanjaySharma-yc4cb Před 2 měsíci +1

    Very Great.

  • @arvindsrivastava6504
    @arvindsrivastava6504 Před 2 měsíci +2

    Rich information thanks

  • @oye__vansh
    @oye__vansh Před 2 měsíci

    Very important video sir thanks ❤

  • @premjibhaichaudhari2532
    @premjibhaichaudhari2532 Před 2 měsíci +1

    Thank you Thank you Thank you

  • @mukeshgarg1909
    @mukeshgarg1909 Před měsícem

    Great information. Thanks

  • @aaishakhan2892
    @aaishakhan2892 Před 2 měsíci +2

    How to prove k home loan let out property k liye liya gaya hai???
    For claiming interest deduction in new regime.

  • @itsvinitsingh
    @itsvinitsingh Před 2 měsíci +1

    Vivek sir please make a video on how to manage a Revaluation account in tally ...main thing is what would be the "under group" income or expense ?

  • @narayanarao395
    @narayanarao395 Před 2 měsíci +1

    very good infermation sir

  • @renusharma-to8jx
    @renusharma-to8jx Před 2 měsíci +1

    Great !!

  • @pawanprabhakar202
    @pawanprabhakar202 Před 26 dny

    Excellent presentation

  • @punitjsh
    @punitjsh Před 2 měsíci +2

    Great effort sir very usefull information about new tax regime 👌👌👍

  • @abedali1353
    @abedali1353 Před měsícem

    Very helpful video for me

  • @SwaroopVITB
    @SwaroopVITB Před 2 měsíci

    best video

  • @amritharevankar1534
    @amritharevankar1534 Před měsícem

    Well explained, thanks

  • @DevendraKumar-kb7vs
    @DevendraKumar-kb7vs Před 21 dnem

    Very educative . Thanks

  • @travelfor9024
    @travelfor9024 Před 2 měsíci +1

    Sir Ek Sawal hai ki agar humne goods purchase Kiya sale karne ke lie or usme se kuch goods staff ne khane peene me istemal me le liya to use hum kaise treat karenge kharche ke taur par ya koi other head me ?

  • @itsamit82
    @itsamit82 Před měsícem

    Excellent Video. Also can you please suggest which tool you used to create the process flow. 😊

  • @vandanaparashar5497
    @vandanaparashar5497 Před 2 měsíci +2

    VERY INFORMATIVE VIDEO

  • @CMSenapati-xc9tf
    @CMSenapati-xc9tf Před 2 měsíci

    VERY NICE

  • @gauravnaliyapara1710
    @gauravnaliyapara1710 Před 2 měsíci +1

    Hello sir please inform to salary person in receive areas big amt. To section 89(1) in relief the tax amt. In new tax regime

  • @deepakbajaj7615
    @deepakbajaj7615 Před 2 měsíci

    Sir agar koi state govt employee hai aur uska gpf account hai aur usne pran main personal invest kiya hai without employer contribution to kya woh nps aur gpf dono claim kar sakta hai in old and new regime?

  • @mayankkapse6950
    @mayankkapse6950 Před 9 dny

    Really appreciate it 🙏 🙌 😌

  • @nijblog
    @nijblog Před 2 měsíci +2

    Nice sir❤

  • @aaishakhan2892
    @aaishakhan2892 Před 2 měsíci

    If any person opt for old regime and claim home loan deduction and also claim HRA
    What are the consequences and when it is possible to clam both??

  • @aaishakhan2892
    @aaishakhan2892 Před 2 měsíci +1

    @20.38 par jo tax free reimbursement hain unko kaise claim karna hai??
    Where to fill this data.??
    Please give example

  • @akshayp5042
    @akshayp5042 Před měsícem +1

    Let out home property ke liye kya document submit krne pdenge?

  • @user-lr8vl1qs9e
    @user-lr8vl1qs9e Před 2 měsíci +1

    What about Pre EMI on house loan under new regime?

  • @sanjayjain6286
    @sanjayjain6286 Před 18 dny

    very nice information

  • @ravindrasinha7383
    @ravindrasinha7383 Před 2 měsíci +1

    Sir itr 3 for ay 23-24 filed on December 2023 in new tax regime but on processing new tax regime not allowed as form 10 IE filed after due date and return process with demand, Sir in such case can i file updated return and claim 80 C deduction

  • @balaiyer1973
    @balaiyer1973 Před 2 měsíci +2

    Both tax regimes explained beautifully. Very nice video. Sir can you make a similar video for NRI s also.

  • @banamalidas4981
    @banamalidas4981 Před 2 měsíci +2

    Nice sir

  • @gauravnaliyapara1710
    @gauravnaliyapara1710 Před 2 měsíci +1

    Hello sir big question in new & old tax regime how many times change in tax payers

  • @Sanjeev1915
    @Sanjeev1915 Před 2 měsíci +1

    Sec 24(1) deduction will be available?

  • @priyaranjanmishra75
    @priyaranjanmishra75 Před měsícem

    Sir, gross income around 32 lac including govt pension and professional income.total deduction 80c,80 ttb and 80u 2.75 lac. Which one will be better old regime or new regime

  • @hardyalarora4578
    @hardyalarora4578 Před 7 dny

    Sir
    In P/H case conveyance allowance rs. 38400 is rebatable Or not in new tax regime.

  • @iqrazonecommerce6126
    @iqrazonecommerce6126 Před 2 měsíci

    Sir 85000 has been deposited in NPS by the state government for salaried employee and 85000 from my salary. Article 80CCD2 will be found in the new REGIM? But there is no mention of NPS amount of 85000 by Govt in the pay slip

  • @vijaysinhsolanki4530
    @vijaysinhsolanki4530 Před 2 měsíci +4

    सर थैंक्स बहुत बढ़िया डिटेल
    सर मेरे को एक क्वेरी है लॉन्ग टर्म कैपिटल गैन में मुझे 120000 का मुनाफा हुआ है तो न्यू टैक्स रेजीम में कैसे काउंटिंग होगी

    • @vijaysinhsolanki4530
      @vijaysinhsolanki4530 Před 2 měsíci

      Dedection of Rs. 100000/- LTCG under section 112A. Is available in new rigim. Please guide us.

  • @witneywilliam
    @witneywilliam Před 2 měsíci +2

    No doubt, one of the best ways to grow and save your money is through investing. You don't need a fortune to get started. Even a small amount can turn into millions if you invest wisely. I wasn't financially free until my 40s, and I'm still in my 40s, but I've already purchased my second house, enjoy a monthly passive income, and achieved 4 out of 5 of my financial goals. I hope this inspires someone to realize that it's never too late to start, regardless of your age. You can begin investing today and change your future! Investing has been a life-changing decision for me

    • @ugojazzy7812
      @ugojazzy7812 Před 2 měsíci

      Nice one,any investment tip? I would love to know how you made it this far

    • @witneywilliam
      @witneywilliam Před 2 měsíci

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    • @ugojazzy7812
      @ugojazzy7812 Před 2 měsíci

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    • @witneywilliam
      @witneywilliam Před 2 měsíci

      you can easily find her information by doing a quick 🔎 search. Feel free to reach out to her directly with any questions you may have.

    • @veradominic6270
      @veradominic6270 Před 2 měsíci

      This is a shocker seeing Regina Louise Collaro is being mentioned here. I always had mixed feelings about hiring a Investment advisor. For the record, I started working with Regina in 2019, and she manages about 70% of my Investments, while I manage the other 30%. My philosophy is that I care more about my own money than anyone else, but she made me accept that they have wealth of information on current conditions and future trend

  • @arvindsrivastava6504
    @arvindsrivastava6504 Před 2 měsíci

    OK now taken HRA REBATE

  • @iMukesh_24
    @iMukesh_24 Před měsícem

    which tax regime is good for physically handicap employee with 70% disability certificate.?

  • @user-ud2sp8hf8c
    @user-ud2sp8hf8c Před 2 měsíci +1

    Vivek sir i am a accountant, I have no words for u love u so much way of talking and nature of voice

  • @shrimayi4046
    @shrimayi4046 Před 2 měsíci +1

    In new tax regime under 80ccd (2) the limit is 50000 or has no limit as it is employeer contri. in salaried case

  • @SurinderKaur-to4tp
    @SurinderKaur-to4tp Před 18 dny

    Pl.sir handicaps Alose ka Bara btaeg

  • @HarvendraSingh-kb6qu
    @HarvendraSingh-kb6qu Před 21 dnem

    Kitni income per ITR nahi bharna hai?

  • @Solution4Doubts
    @Solution4Doubts Před 2 měsíci

    Now got it after reading text on screen

  • @sanekiron3941
    @sanekiron3941 Před měsícem

    Sir I retired from a Government Bank service on 31/3/2023. Employer paid me leave encashment in April 2024. He deducted income tax on encashment of leave. Can I claim full exemption in my Return. Please reply

  • @narayandasgupta416
    @narayandasgupta416 Před měsícem

    How can I get tax rebate on maturity of Krishan Vikas patna

  • @balarampatel4965
    @balarampatel4965 Před 2 měsíci

    I have salary income till 31st December 2023, & now starting my own business how can I fill itr .

  • @vijaychopra6128
    @vijaychopra6128 Před 2 měsíci

    I want to fill utr from u...and now my tax deducted is 46000..can I minimize my tax?

  • @anandas3733
    @anandas3733 Před měsícem

    Brother, rebate under 80ccd(2) is not restricted to 50000.this limit is under 80ccd(1b) which is not allowed in new tax regime. Plse amend. Otherwise you have given a good detailed explanation. Thanks.

    • @FinTaxPro
      @FinTaxPro  Před měsícem

      Thank you so much for the value feedback. Yes you are correct 80CCD(2) limit is not 50000 thank you for correcting.
      You may refer this video for 80CCD(2) limits Maximize Your Tax Savings: Essential Income Tax Deductions for Better Tax Planning PART 2
      czcams.com/users/live3jqTPIbI428?feature=share

  • @hemantakumarbhattacharjee6399

    Is 80CCD(1) available for deduction in new regime in AY 24-25 that is self contribution to NPS up to Rs.50,000/. Pl explain.thanks

    • @anandas3733
      @anandas3733 Před měsícem

      Not available in new tax regime.

  • @sumangogia8258
    @sumangogia8258 Před 2 měsíci

    Sir, Good morning. Urgent guidance needed. Sir my son is studying in Canada and his status is NRI. He earned Rs. 3000 as Savings account interest and earned LTCG Rs 9000 by selling MF totalling Rs 90000/- during the FY 2023-24. He could not get NRO Account yet but likely to open the same in his visit to India shortly. Can he file his ITR showing his NRI residential status without having NRO Account.
    Regards

  • @prathamlimje4464
    @prathamlimje4464 Před 2 měsíci +1

    Sir aapne gst itr aur tds ke course ne ek topic hai gstr1 iff filing usme 2020-21 ka data file kaise karte aap e wo bataya hai par woh gst ki online site par se bataya hai scigst ki help se gstr1 iff kaise file kare woh bhi usme update kijiye ya youtube par bataye latest koi data ke sath🙏

  • @vinodalbuquerque2488
    @vinodalbuquerque2488 Před 2 měsíci +1

    Sir Other Interest Income (a) Interest on Securities?? does it mean Dividends u/s 194

  • @bitsurendra
    @bitsurendra Před 2 měsíci +2

    New tax regime me 80G for religious trust applicable hoga ya nahi?

  • @madhurivyas7590
    @madhurivyas7590 Před 2 měsíci +1

    Hello, I have taken a course of GST TDS. I have few queries regarding GST so how to connect with Vivek sir.

    • @FinTaxPro
      @FinTaxPro  Před 2 měsíci

      Please call at 8368741773

  • @user-dm9ic5hc5m
    @user-dm9ic5hc5m Před 2 měsíci +1

    Please provide pdf as asked by you in video of deductions chart

    • @FinTaxPro
      @FinTaxPro  Před 2 měsíci

      Please check telegram channel

  • @QamarSaifi-in9fj
    @QamarSaifi-in9fj Před 2 měsíci +1

    Do you register trademarks? If yes then what is your fee?

    • @FinTaxPro
      @FinTaxPro  Před 2 měsíci

      Yes we do.
      Please call on number provided in description.

  • @richanagar7951
    @richanagar7951 Před měsícem

    Old regime is best

  • @arvindsrivastava6504
    @arvindsrivastava6504 Před 2 měsíci

    HRA NOT TAKEN IN ACCOUNT

  • @ravikumar-oz3xj
    @ravikumar-oz3xj Před 2 měsíci

    Sir My income is less than 7 Lacs. TDS deducted from interest paid by bank.
    Sir in New Tax regime will I get refund of TDS.

  • @Vinayak07.
    @Vinayak07. Před 2 měsíci +1

    80CCD(2) kitna hota hai jaise 80990

  • @nikhilmugganawar
    @nikhilmugganawar Před 5 dny

    where is the pdf to download?

  • @premjibhaichaudhari2532
    @premjibhaichaudhari2532 Před 2 měsíci +1

    hoe can i download you pdf

  • @sakinderpal7956
    @sakinderpal7956 Před měsícem

    Sir I have retired from govt job I got disability pension please tell me is my both pension tex exesumption

  • @suklamajumder132
    @suklamajumder132 Před 2 měsíci

    Pensioner's ko ki income tax Dene porega?

  • @SGET75
    @SGET75 Před 2 měsíci +1

    Accountant apni balance sheet bana skata hai

  • @wellwisher0
    @wellwisher0 Před 2 měsíci +8

    Kya mera comment pin 📌 ho sakta hai. 😊

  • @vishwanath861
    @vishwanath861 Před 2 měsíci

    Sir
    Where is pdf of deduction? is it available for those who are not your course student?

    • @FinTaxPro
      @FinTaxPro  Před 2 měsíci

      Join telegram channel for free notes

  • @goyalmangat331
    @goyalmangat331 Před 2 měsíci

    If Income Above 5 Crore Then What Is The Rate of Surcharge???????

  • @sumitlehri5704
    @sumitlehri5704 Před 2 měsíci +1

    pdf available nahi hai?

    • @FinTaxPro
      @FinTaxPro  Před 2 měsíci

      Telegram group m check kijiye

  • @jilanibashas
    @jilanibashas Před 2 měsíci

    New tax regime me 80C me 50000 kaise milega( Case:B)?

    • @FinTaxPro
      @FinTaxPro  Před 2 měsíci

      80CCD(2) m milega only

    • @saurabhpandey7828
      @saurabhpandey7828 Před 2 měsíci

      ​@@FinTaxPro upto 50000rs only aur old scheme me upto? Aur yeh scheme is saal apply hogi ya next years se?

  • @SGET75
    @SGET75 Před 2 měsíci

    80c to 80 u deduction for new tax regime

  • @SGET75
    @SGET75 Před 2 měsíci +1

    Jab main itr 4 fill krne jaunga usmein default new regime shiw krega old ke liy 10iea bharna hoga

  • @Solution4Doubts
    @Solution4Doubts Před 2 měsíci

    If my taxable income is 725000 than what

  • @sanjayvishwanath6123
    @sanjayvishwanath6123 Před měsícem

    👌👏👏👏🌹🙏

  • @CAyashpanjwaniji
    @CAyashpanjwaniji Před 2 měsíci +1

    Sir marginal relief to bahut azzeb h 7 lakh k uper jitni income h man lijiyega 1000 extra h to bus 1000 per tax dedenge ??? 7,01,000 per new tax main STCG main 36,556 ka tax bn raha tha ab sirf marginal relief k karan 1000 extra denge or 4 % cess please 🙏 doubt clear Krna sirji😊

    • @sanjaykumar-ek6co
      @sanjaykumar-ek6co Před 2 měsíci

      Because 87 A rebate only applied less then 7L salaries when u exceeded limit of 7L u fall in 5% after 3L and 10% after 6L

    • @CAyashpanjwaniji
      @CAyashpanjwaniji Před 2 měsíci

      @@sanjaykumar-ek6co ye rule ab aaply nhi ho raha naa 87 A main marginal relief aagya h naa bhai ab calculation alag ho rahi only excess amount per tax aa raha

    • @sanjaykumar-ek6co
      @sanjaykumar-ek6co Před 2 měsíci

      आप बोल रहे है कि 701000 पर 36556 टैक्स आ रहा है

    • @CAyashpanjwaniji
      @CAyashpanjwaniji Před 2 měsíci

      @@sanjaykumar-ek6co wo pehle jab marginal relief nhi aaya tha per marginal k baad only 1040rs tax itna bada mistake h government ka

  • @deepak07041979
    @deepak07041979 Před 2 měsíci +1

    Ye course me add hai kya ?

  • @chetanraval8628
    @chetanraval8628 Před měsícem

    waaaahhhhhhhh

  • @Solution4Doubts
    @Solution4Doubts Před 2 měsíci

    Sir Why r u confuse while talking or explaining

  • @Solution4Doubts
    @Solution4Doubts Před 2 měsíci

    Don't understand marginal relief

  • @rajendraprasadsau7723
    @rajendraprasadsau7723 Před 2 měsíci

    754000
    How much tax would be pay

  • @accountsjob5448
    @accountsjob5448 Před 2 měsíci +1

    partner ka jo partnership firm se Renumeration milte hain woh Salary income hote hain ya BGBP income hote hain....aur partner ka ITR 1 hote hain ya ITR2 hote hain

    • @FinTaxPro
      @FinTaxPro  Před 2 měsíci

      naam se clear nahi ho raha kya ;)
      Salary head m hi jayegi salary to

    • @RakeshKendole
      @RakeshKendole Před 2 měsíci

      ​​@@FinTaxProplease check.. it should be pgbp

  • @adv.pradeepkumarrathour5902

    Thanks sir 🥰