Senior Citizens New Regime Deductions AY 24-25| Senior Citizens Income Tax Benefits| Old vs. New tax
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- čas přidán 30. 05. 2024
- Senior Citizens New Regime Deductions AY 24-25| Senior Citizens Income Tax Benefits| Old vs. New tax
Ur queries-
Senior Citizens New Regime Deductions AY 24-25
Senior Citizens Income Tax Benefits
Old vs. New tax regime 2024
Income tax benefits to senior citizens
New regime deductions to Senior Citizens
Senior Citizens tax slab rates
New tax regime
Old tax regime
Old or new regime which is better
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![Senior Citizens Income Tax Slab Rates and Tax Calculation 2023-24 [Examples]](http://i.ytimg.com/vi/n5crP-kyY1c/mqdefault.jpg)
Very well explained These we’re well documented in tax changes as well but she has done great job
Dear Shweta use ful video for senior citizens. Regards Gopal Srivastava Director Mumbai
Very good helpful vedio for seniors citizens with good voice.
Very clearly explained. Thank you madam.
Interest earned from Senior Citizens Savings Scheme (SCSS) should be made totally tax free. This is because unlike LIC Annuity Schemes where there is no upper limit on the investment amount, here the upper limit is restricted by the Government to Rs. 30 lakh, so that rich senior citizens cannot take undue advantage of it. Therefore tax should not be levied on the income of senior citizens from this scheme which is fixed and controlled by the Government.
Do we have the option to have a new tax regime or an old tax regime every year for senior citizens if the income is below 7 lakh
Clearly explained. Namasthe.
Useful video for Senior citizens
Thank you, no doubts left well informed.
Do we have the option to have a new tax regime or an old tax regime every year
Ma'am very useful vedio for Sr. Citizens. Thanks for your valuable guidance
Do we have the option to have a new tax regime or an old tax regime every year for senior citizens if the income is below 7 lakh
Too good...❤..thanks a ton
Very very useful vodeo❤
Very very useful thoughts
Useful thanks
Very precisely narrated
Thanks mam for good information
For senior citizens interest exemption should be rs. ONE LAKH rupees & for others it should be ₹50,000/=
Very good information
Excellent explanation
Madam shewta very useful and informatiove video thsnks 04/6/2024
Madam, how the gain amt of before maturity payment after running for more than 5 years from insurance co will be treated in ITR for sr. Citizen. Ins. Co deducted TDS @5%
Whether interest on saving bank account is also applicable for deduction for senior citizens along with FD interest.
Please let me know if LIC annuity pension received monthly is taxable? Thanks for the nice video Mam.
NPS contribution by employer sec 800ccd(2) will have to be added to salary of the employee for claiming deduction or not?
Continue from the Govt BONDS under 54Ec,pl clarify whether under section (10)(15) it is exemted?
If your salary falls between 7lakhs to 7,28,777 then till 7 lakhs there is no tax. Tax on 28,777 will be applicable.
Refer our video on marginal relief. Your concept will be clear.
INN on FDR deposit IN banks which was allowed in old regime whether allowed in new regime also. I think u/s 80 CCB or Luke that ?
Zero relief for middle class pensioners in income tax .On an average income tax =20% .Apart from this, one has to pay GST =20% on each and everything (on an average) + other taxes, such as:property tax etc etc
Madam 44ad me itr bharne ke liye ek profit and loss account and balance sheet Excel me banana sikhaye. And usme se 6% and 8% ki hisab se income ko kaise alag karna hai. And ek computation bana na bhi sikhaye.. tab to actual me normal log bhi bhar payenge. Barna kaise ek normal person Bina calculation karke itr 4 file karega... Practical sikhaye na..
Is there exemption on sale of equity under stcg?
In New tax..share profit long term ..short term how we should consider
Pls clarify if my salary income is below 7 lac but other business income from security and dividend and interest is also 2.78 lac, will all income to be inclusive as one ?
Madam pl. Clear on retirement benefit. Thanks.
In case of super senior citizen what is the maximum amount of income which attracts Income Tax?
Madam , can a pensioner change his tax regime in every year ? Is 10(10D) section is applicable for senior citizen pensioner in New Tax Regime ? Can a senior citizen pensioner pay advance tax and self assessment tax ? Please initimate .
Madam i have doubts on my income reg tax deductible. Could u pl help me
Kindly clarify if salaried person ka non taxable income ..in new regime after deduction 6.80 L... Net tax zero... But interest income aagya to income exceeds 7 lacks...tax liability is coming
Do we have the option to have a new tax regime or an old tax regime every year for senior citizens
If after deductions my income exceeds 700000/- then which tax slab will be applicable.
Details of exemption u/s 10 (14 ) may kindly be given.
If the net income after starting.deduction is 709000 what will be the tax under new regime.
Jyada better - double comparative?
Mutual funds purchaseko 80c dikha saktey kaya batay normal person
In new regime the amont of Standard deduction in new has been increased to 75000/-
If my income is 7, 16000 what will bathe tax under new tax regime, kindly clear the doubt
Sir I am allready ciniyar citizens from will be completed but I have no income how to fill the form & i don't any help to me.
I have inadvertently opt for Old Regime and now I want to convert in New Regime is it permissible?
Besides the deductions explained in the video, in my view, deduction of one third of the rent is allowed under section 24 on a let out property.
Yes
Please guide about section 10(15)(i). That is int from saving account in post office rs 3500 for single and 7000 for joint ac. can i claim this as exempt income. Many experts says you can claim but you say I can't claim
I am in confusion. Can I write under “any other” option in exempt income.
Section 10 15 exemption is available.In this video we have covered the deductions only. There are many exemptions which are available a new regime like Agriculture Income etc.
If I purchase Annuity scheme from LIC directly. Being a housewife, Can get standard deduction benefit of Rs 50000 under New Regime of Income Tax
My AIS showing Business receipts alongwith other Incomes like interest from Investment with Bank,P.O schemes. In 26AS showing TDS u/S 194JB as my services for remuneration as a visiting faculty of a college.
I have my Pension income also.Which ITR (1 or 4)will be applicable for AY 2024-25 in my case? Till 2023-24 Had filed ITR 1.
Kindly advise.
Dear Tax Guru Ji If my clint have only Interest income or Income from House property (Rental Income) or Long Term short term capital gain and we have select old regime this financial year 2023-2024 than my question is this can we change our regime in every financial year or not just like in salary case . Please guide.
Yes u can switch.
I am sinior citizen and having total income Rs. 856000/-for the assessment year 24-25 how much income tax will have to pay
What ab out medical expenses up to 50000 Rs for seniour citizens they claimed for deduction yes or no
Pl explain on old reseme
Sec 89 (1) relief is available or not
Madame you have not mentioned about rebate on interest on saving upto 50,000/.pl clarity?thanks for valuable information.
80ttb 50000 not available new regime
Madam, I became a senior citizen on 13.03.2024. May I take the advantage of rs.50000/- deduction from bank interest for F.Y. 2023-24 ?
Hi, just clear my doubt
Cancer relif is allowed yes or no
Can you give any example for income between 8 to 11 lacs where a salary person saves rs. 1.5 lacs under 80C still new regime is better. I hope no. Then all information in budget is mislrading.
mam iam retired person no source income except share market trading its taxable
Please explain marginal relief above 7 lakh in the new regime.
After the demise of tax payer legal heir received insurance amount, where it entered this amount in the ITR column.
Has the budget leaked before it is introduced in Parliament?
Kya main Rs. 2800 stock market intraday capital gain ko short term capital gain main dikha sakte haun
Nahin Kyunki taxation rules donon Ke अलग-अलग Hain
If my income goes beyond nine lacs, which would be better old or new.
Any logic behind old tax and new tax?
Item No.8 , ie. Marginal Relief above 7 lacs of income requires clarity. What does Marginal Relief means? Is there any limit on such marginal excess over 7 lacs. Leaving apart, the presentation is exceptional ❤. Could you please clarify
Detailed video on marginal relief already uploaded. Check on my channel
@@shwetataxsolutions6314marginal relief
Exceeding Rs.7 lacs 28777 means 100 % tax I.e., flat Rs.15000 plus 10% ezceeding Rs.6 lacs. I.e., 15000 plus 12877 = Rs.27877 tax. I paid like this only. Only 50000 standard d3duction. Nothing more 8n new tax regime.
Madam , can I show capital gain details as usual in old tax regime ?
Yes no change in rules.
What about LTCG...from shares or equity????
1 lakh exemption is available.
Is exemption of interest earned from MIS is allowed for Senior Citizens in new tax regime?
No
Madam, I am a Senior Citizen(74yr) mistakenly sold a equity Share of value Rs 11 & is reflecting in AIS.,Will I have to file ITR 2?
Yes. You will have to file ITR 2
What about the money received on maturity of PPF?
Exempt
Is there Any deduction for Donations in New tax regime Whereas Deduction under 80G is allowed in Old Tax Regime
Also deduction upto 25000 in case of family pension has been increased for the Assessment year 25-26
No 80g in new regime
What about LTC
Pl. Advice me
Is rebate on bank/FD etc. interest allowed in new regime
No
Madam, my gross total income 760000,then what would be my tax for f.y. 2023- 2024,senior citizen & new regime ,considering no exemption .
Whether interst on deposit is available in new regime
Kindly mention govt letter giving benefits to sr citizens-/pensioners as to whether return to be filed even though IT recovered ;-- not simply news
These are the extracts from budget. You can refer budget on Google.
Leave encashment is taxable na
Mam My pension income 582609/ deposit interest income 207935/ Savb bank intt 4106/ Total tax calculated by EMPLOYER 29418+1226 (SC) TOTAL PAID 30644 pl explain how n whether correct SR CITIZEN 73YRS.Thanks
Is deduction u/s 80 G available under new regime?
No
Men new tax Regime Mein handicapped employees ko conveyance allowance ki chhut milegi ya nahin yadi Milegi To kis section mein
Yes available sec 10(15)
Mam is Section Mein handicapped ko conveyance allowance Mein milane wali chhut show Nahin ho rahi hai mere office ke C A bhi is chhut Ko Nahin man rahe hain Unka Kahana Hai new tax Mein Is Tarah Ki chhut ka koi pravdhan nahin hai please guide me
Senior citizen should be exempted from all interest of any SB or FD account from any banks
What about 80u
Gratuity & earn leaves is tax free under new regime, specify the sections
Gravity and earn leave is full exempt for Government employees and partly for private employees.
I think, GRAVITY comes under Newton Law.
Am I correct?
What about 80 U
Sr citizen ko home loan ?
No income tax should be levied on pension income.It should be entirely free.
Is professional tax deductible in the new tax regime
No
My total income is 7,63000 hwmuch income tax I have pay
Now SENIOR CITIZEN ,DEVIDED.
LIC annuity is taxable?
Kya bank intrest upto 50000 bhi nhi milega ?
No
I am senior citizen having income from other sources .Am i entitled to get standard deduction of Rs50000
Thanks
No
Madam what about 80U rebate
80u not available in new regime
PPF ka interest ka kia rahaga
Exempt schedule
Can anyone pay tax online from other persons account in family without any issues
Yes
@@shwetataxsolutions6314 thanks
Madam, I am Sr. Citizen aged 72 yrs old. I want to choose new regime. My income is more than 8 lakh. I got rs. 138000 LTCG from MF. So in new regime can l take benefit on rs 1 lakh for exemption of tax on 1 lakh Pls guide me.
F.Y. 23/24 / A.Y. 24/25
Yes
Then which ITR form I have to filled
Mam? @@shwetataxsolutions6314