Best Tax Saving Guide | Complete tax planning for salaried persons

Best Tax Saving Guide | Complete tax planning for salaried persons | LLA

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Hax to Save Tax:
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In this video, we will learn about How can we save Taxes? How to Save Income Tax for salaried employees? How to save tax other than 80C? Exemptions for salaried employees? Deductions for salaried employees?
Chapters:
00:00 How to Save Tax for salaried persons?
00:53 Income Tax Deduction & Exemption
02:29 Old Tax Regime Vs New Tax Regime
04:04 Exemptions for salaried persons
05:20 HRA Tax Exemption
08:10 Leave travel Allowance Exemptions
09:47 Reimbursements
12:37 Deductions for salaried persons
12:58 80C Deduction
13:45 80CCD Deduction
14:33 80D Health Insurance
15:00 80EE Interest on home loan exemptions
16:30 Tax Calculation Example
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Tax Planning Guide #1: • 12 Lakh Salary, Zero T...
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#LLA #Taxsaving #Tax

Пікірлер: 2 700

@LabourLawAdvisor 3 жыл бұрын

Hax to Save Tax: www.taxplanningforsalariedemployees.com 💸DEMAT Account: link.lla.in/Demat QuickPayroll: quickpayroll.in/

@sachin1st555 3 жыл бұрын

VPF is one of best option I think

@dineshjanyani7676 3 жыл бұрын

Value investor kese aapna tax bachae ??

@namanmodi9134 3 жыл бұрын

Sir for business person examination and direction video

@gokulp3271 3 жыл бұрын

Video's seems good and interesting but I don't know hindi bro, I am from south India. So Can you do video's in english or with subtitles.

@suryavamsi2211 3 жыл бұрын

@Labour Law Advisor. I have a different scenario. Let's say I stayed in home(non metro) with parents for 6 months and later shifted to city and stayed there for other 6 months. Can I apply for hra for 2 houses now? In video you told you can't apply for hra when you stay in 2 houses parallallely. Thank you

@chandanmishrikoti2392 Жыл бұрын

after 10+2 Income tax should be a compulsory cource in ever educational institution as the Student enter into market.

@robinbajaj6323 Жыл бұрын

How will government suck ur money then!! 😂

@abhishekcpadwal1989 7 ай бұрын

Taxation is mandatory in commerce graduation

@Mihirvyas555 3 ай бұрын

Ham kya kare fir? Job chod de?😅

@Tausifsiddiqui 3 жыл бұрын

First 2 minutes into the video and i can already see massive value. Keep up with the content folks!

@siddiquiirrfan 2 жыл бұрын

Video dekhne ke baad payslip dekha maine apna.. Jitna sab apne bataya yeh log already de hi rahe hai.. itna breakout sirf shortcut mein padha hai aaj saara matlab samhaj agaya.. Corporates bahut smart hai apni tax saving mein humme bhi khush kardete hai breakdowns ke naam par..Kudos for your work 🤘🏻 SUBSCRIBED ♥️

@sumitrajput16_5_95 2 жыл бұрын

Boss... Maza aa gaya... Last line apki bdiya lgi ki sikhne ka interest h... Thanks for such a beautiful knowledge with easy examples.... U r best

@shivamchawla6206 3 жыл бұрын

One of the best KZfaq channels. Thanks for putting those efforts out there sharing the knowledge and saving some of our hard earned bucks :)

@ashishsurve3347 2 жыл бұрын

An employee's contribution to provident fund (PF) is considered as part of Section 80C of the Income Tax Act. So for 12 lac income we can consider PF will be 40 to 50k year. It means we can only save 1 lac on 80C in ELSS. I think you missed this one. Great video.

@shivanshsrivastava6280 2 жыл бұрын

it depends, In many companies, you have option to chose the amount of PF. So lets say you chose to pay only 1400 / month as PF than it will be around 16-17k year in PF .

@DeepakRaj-zw6jj 2 жыл бұрын

@@shivanshsrivastava6280 It can't be less than 1800 /-. In my company it's like this. Even though Basis is more..

@suniladiyodi 2 жыл бұрын

@@shivanshsrivastava6280 you cannot reduce the amount i guess. You can only increase the contribution. As per govt rules, 24% of your basic should go to PF (12+12).

@VinodSingh-ig8zj 2 жыл бұрын

No 10% from each is mandatory. and in central govt it's 10 + 14% you can only increase it.

@koshalsingh9786 2 жыл бұрын

I think 12% from employee and 3.41% minimum is mandatory from employeer

@jayshah2796 2 жыл бұрын

SEND

@harshvardhan688 3 жыл бұрын

THANKS , YOUR VOICE GOT WEIGHT & THAT MIDAAS TOUCH USE YOUR VOICE FOR DUBBING HOLLYWOOD MOVIES IN HINDI YOU HAD GOT LEADER VOICE THNAKS AGAIN

@adityapatra9183 3 жыл бұрын

I wish this video was available when I started my job. This is pure gold!❤️

@signerai03 3 жыл бұрын

Where u work & with whom??

@adityapatra9183 3 жыл бұрын

@@signerai03 I work with a digital marketing startup company.

@karanrathod640 3 жыл бұрын

This is the most basic things to know abt taxation.. Nothing great explained here... If u did not know this.. Doesn't make it oire gold.. Makes u an fool who is ignorant of necessary things to know

@adityapatra9183 3 жыл бұрын

@@karanrathod640 Just an FYI, I already know most of the concepts explained here. But majority of the people who start their jobs don't know. I hope you read my comment from the beginning (although I doubt that). Also you calling people "fool" in the comments doesn't make you the wise one :)

@karanrathod640 3 жыл бұрын

I on implying that people who donot equip themselves with basics of money management & tax planning are fools is an exclusive point to me claiming to be wise. But ur comment - which FYI i read 2wice as i cudnt believe myself seeing some1 openely admitting to being ignorant to basic money management skills - is to point out the fact that self home-work is paramount while beginning to. Earn! So stop treating this as GOLD when this shud have been basic

@jagatbashista 2 жыл бұрын

Agricultural income is exempt from income tax, but there is a concept called "the partial integration of agricultural income with non-agricultural income" if certain criterion satisfied. Here, your example attract this calculation.

@ABHISHEK-237 Жыл бұрын

Agricultural income upto 5000 exempt hai

@jagatbashista 7 ай бұрын

@@the_hemant376 Yes..

@rangerfc1307 3 жыл бұрын

Very good video, concise but informative. Thanks a lot !

@diyasn5200 2 жыл бұрын

Thank you so much for your explanation! You made it easy to understand this topic 👍

@MrYogo1 3 жыл бұрын

You teach so well, man. Better than any professor I had in school or college.

@vikramaditya3195 3 жыл бұрын

Because we don't focus on school book. And for your information school books teach only terminology they don't teach current policy.

@rupeshmishra778 Жыл бұрын

It is not taught in schools, it is taught in professional courses like ca intermediate level paper 4

@maxfreakk.4955 3 жыл бұрын

What a progress by mandip.. from fitness trainer to business partner 😂

@LabourLawAdvisor 3 жыл бұрын

❤️❤️💪

@jessy9643 3 жыл бұрын

@@LabourLawAdvisor Do we consider PF CONTRIBUTION OF EMPLOYER in gross total income during tax computation? For eg, Gross salary = 508867 Interest on employee PF = 628 Interest on employer PF= 287 Employer contribution to PF = 9977 So for the above case, do we calculate total gross income as the sum of all the the above? Means, GROSS TOTAL INCOME = 508867 + 9977 + 628 + 287 = 519759 Is this the gross total income from which we have to deduct the deductions ?

@I-M-WITH-YOU 2 жыл бұрын

Zinke pass samjhdari aur samjhane ke tarika hota hain vo kuch v achieve kar sakte hain...

@kauraman6991 3 жыл бұрын

Really helpful. Thanks alot sir. Gained ample of knowledge from this channel.

@gautambansode2294 3 жыл бұрын

One of the best video I have seen on Tax Saving... Very well utilized 19 mins...Keep up the same work bro!!

@kushalsharma3718 3 жыл бұрын

Succinct and lucid illustrations buddy, good luck with everything ❤️ way to go!

@PrinceSogani 3 жыл бұрын

Thank you :)

@RohanRamVaswani 3 жыл бұрын

Watching this video for the 5th time, and still getting to learn something new.

@rahulchoudhary6205 2 жыл бұрын

@@ryanimpossible4985 You are jerk?

@maheshsankeshwar4902 3 жыл бұрын

Great explanation. Can you also make video on ESPP, RSU, ESOP gains and how are they taxed in india if they are listed outside Indian stock exchange.

@rockmoon123 3 жыл бұрын

You people r enjoying your all quality information and love your teaching. You r doing remarkable job for the welfare of community. Thank you very much Sir, Regards,

@varshachavaan1393 3 жыл бұрын

This video is extremely informative and helps us plan and understand the major components that are included in tax savings and planning. Thank you! ☺️

@sonitlohan 2 жыл бұрын

Kahan extremely informative hai...sirf attentation grabing headlines daal k 15 mint waste kr di...12 lakh pe tax dena hi pdega

@sandeep6750 2 жыл бұрын

@@sonitlohan sahi bola bhai. Itna perfect aur accurate deduction lena bahut mushkil hai. 1200000 ki salary pe poora 200000 home loan interest claim kar liya, ab zabardasti loan le kya ye claim karne,

@kamalbansal7181 2 жыл бұрын

Could provide with better advice. How are you considering him informative? He's just fooling around. It's hard to believe how did he get so many likes. Does he pay for it and also for positive comment like yours?

@Harsh-og8cn 2 жыл бұрын

@@sandeep6750 what if i live in my home and not rented house. can i claim HRA in this case?

@eg8049 Жыл бұрын

This is not informative. This is something what an 18 yr old who has just started studying income tax will tell you too.

@neeleshsahu9534 3 жыл бұрын

Thankyou so much for this video. Many talk about this topic. But this is a complete guide as it says🔥

@dhanukashyap8928 3 жыл бұрын

Thank you LLA! Could you please make a detailed video on how one can claim HRA exemption like rent agreement format, e-stamping, notary, generating rent receipts, etc. Especially for an employee working from home and going to claim HRA for the first time. New legal online method to do this will be really helpful for most of us.

@hemantpandey2366 3 жыл бұрын

It's doesn't matter, whether u r using office or home for HRA claim. If u r residing in a rented house, then u just put rent receipts stamped with 1/- treasure ticket n cross signed, submit to ur employer. It also doesn't matter, how much u are paying for rent annually, there is a formula under which calculatuins done, finally u get exemptions upto a certain limit, even u are paying rent higher than this amount.

@gauravkumar-uq5uw 2 жыл бұрын

@@hemantpandey2366 How come he is deducting HRA of 3 lakhs then?

@sandeep6750 2 жыл бұрын

@@gauravkumar-uq5uw hra k liye owner ka pan card dena padta hai na?

@harshitchauhan3771 2 жыл бұрын

@@sandeep6750 if rent is greater than 8333 /m or more than 1 lakh /anumn

@husler7424 Жыл бұрын

@@hemantpandey2366 what if i'm living with my parents and not paying any rent? How will my employer deduct HRA?

@ankit-san 3 жыл бұрын

Rest of the content was awesome except for what you said at 13:10 When you calculated returns between PPF and Equity MF earlier in the video, you took into consideration the fact that out of Rs.1.5 lakh yearly investment in Equity MF, 30% would be taken out as tax (if you fall under 30% slab) hence reducing actual investment amount in the fund. But in case of ELSS, you do get that 80C deduction benefit which PPF has and therefore the investment amount remains same. Now, keeping this in mind if you compare the returns between PPF and ELSS/Equity MF over 15 years, even after 10% LTCG tax, Equity MF gives you around Rs. 19.5 lakhs more return (considering 8% and 13% rates of return for PPF and Equity MF respectively). PS: If Equity/ELSS MF gives 10% returns (which I think is easily achievable), then too after LTCG tax deduction the MF returns would be higher than PPF Nevertheless, I believe making these videos is not easy and I thank you for sharing this knowledge with the general public. You guys are doing an awesome job. Massive like on my part.

@Kalyanadduriak 2 жыл бұрын

Like he mentioned. If u are a risk taker you can go with the ELSS. No doubt Elss gives good return like u said but there’s a risk included in this.

@bharathg7284 2 жыл бұрын

Lol. Even I got pissed he said ppf is bette tthan mf 🤣

@aditya4622 2 жыл бұрын

That comparison was originally referenced at the start around 3:00 where Rishabh was comparing PPF investment under old tax regime Vs investing the same amount in ELSS under new Tax regime.....hence the statement "8% PPF returns > 13% ELSS returns" If u compare both the returns under same regime then obviously ELSS returns would be higher (with compounding) 👍👍

@iamrobot396 2 жыл бұрын

You are also wrong in one of your points . Tax on equity mf is 15% irrespective of slab for short term and long term 10% that too only if gain > 1 lakh

@jaypunjabi28 2 жыл бұрын

If you take a CAGR of Equity MF for 10 yrs Tenure, you will realise earning 8% is also a big challenge. So it’s not easy if you consider it for a long term scenario !

@EveryPaisaMatters 3 жыл бұрын

Good video Rishabh (not Mandeep) but what we simply ignore to tell in these cases is at the end, while Tax Paid is Zero, the actual In-Hand salary for their personal expenses comes to only ₹38,333. Paying 2 Lakh Interest an year will usually mean a very high loan and which will not be recommended for someone at 12lpa salary. Lastly the HRA being paid is 3Lakh. So basically almost 50% of salary is on Rent and Home Loan. Not really a good position that this person is in, as per my view. 🙏

@LabourLawAdvisor 3 жыл бұрын

Well said! that's why I told that loan should not be taken just to save taxes. Also you will come across many such cases where both husband and wife are working, there one person can pay rent and interst to.save taxes to maximum limit. PS : My name is Rishabh, Mandeep is other one :)

@EveryPaisaMatters 3 жыл бұрын

@@LabourLawAdvisor Yups agree with that and corrected your name as well. What mesemerises me is that very simple fundas are not known to our people and which is why people focus towards earning more and not on saving or better still saving at the right places. Keep up the great work!👍

@sagarsaxena7241 3 жыл бұрын

@@EveryPaisaMatters I ALSO AGREE with you.....the structure shown in the video is really aggressive and leaves a very little amount towards saving and investment purposes.....

@adityasrivastava6235 2 жыл бұрын

I think if we live with our parents then we can make rent agreement on thier name, so now indirectly amount you pay for household activity is getting benefited as HRA(only if u live with parents in house) . Correct me if i m wrong

@EveryPaisaMatters 2 жыл бұрын

@@adityasrivastava6235 This is correct.

@rups1390 3 жыл бұрын

I wish we had you when we started our career back in 2011

@noornawaz8294 3 жыл бұрын

Yep true.. 🤦🏻‍♂️🤦🏻‍♂️

@xamantiwari 3 жыл бұрын

He was not know about tax back in 2011

@chandrakantsurye6851 3 жыл бұрын

Same feeling

@manojmudaliar 3 жыл бұрын

I have recently changed my job. As part of my CTC there is a component of Leave Accruals, which gets deducted from my monthly salary and is a substantial component. Can this be claimed as deductions from CTC for tax saving benefits?

@realabbas5 2 жыл бұрын

Good video. One question - @Labour Law Advisor You didn't consider DA (Dearness Allowance) which will also be used in calculating HRA. All the formula where Basic pay is used , it will become (Basic + Dearness Allowance)

@kindaca7950 11 ай бұрын

Turnover commission is considered along with basic and DA (in terms), but he didn't considered that.

@deepakiam7253 3 жыл бұрын

Very good content. Keep educating us👍

@HK-ec6bq 2 жыл бұрын

Thanks for the video. Really good one. Knowledge enhancer.. I have a question: can we claim/show the medical premium (while filling ITR) deducted by the employer? which employer have shown under CTC.

@haardanjaria6938 2 жыл бұрын

The one who deducted it can claim it, if employer is deductor, employer can claim! If employee is deductor, employee can claim!

@mavericks7179 3 жыл бұрын

In 80D, you can also claim the Medical checkup bill of 25000. If your employer is not allowing, then you can file your return the same

@bhuvieswari4505 3 жыл бұрын

No need any proof??

@prassimplified2313 2 жыл бұрын

@@bhuvieswari4505 u have to keep proof with urself. If asked by department, u need to givd

@abhishekchauhan7863 3 жыл бұрын

In HRA component metro cities are Mumbai, Delhi , Chennai & Kolkata rest all are considered Non Metro , People usually get confused sometimes considering big cities like Bangalore & Hyderabad etc as metro cities :)

@MINATOYELLOWFLSH2005 3 жыл бұрын

Nope. Metros are classified as per census 2011. There are many more metros.

@abhishekchauhan7863 3 жыл бұрын

@@MINATOYELLOWFLSH2005 For your Information Mr Anoop the metro cities which are seen under HRA are according to Income tax act, for more information on the same please refer to the stated article { House Rent Allowance (Sec. 10(13A) & Rule 2A)} of the income tax act, Thanks for your comment :)

@MINATOYELLOWFLSH2005 3 жыл бұрын

@@abhishekchauhan7863 ok. Thanks.

@ravindrabosamiya9837 3 жыл бұрын

also wfh helps 😅

@rupenbhavsar 3 жыл бұрын

CAN WE CLAIM 3 lac HRA IN NON METRO? IF YES, LANDLORD HAS NO PANCARD THEN HOW WE CLAIM?

@virendrasharma1546 2 жыл бұрын

@labourlawadvisor thank for such informative content. please let us know at 3.05 why did you take rate of interest as 13% instead of 8%

@nikhilpatil1644 3 жыл бұрын

Loved this video so much Sir The editing is next level please bring more videos like this😍🔥🔥.

@PrinceSogani 3 жыл бұрын

Thank you :)

@narayanrawat5470 2 жыл бұрын

Excellent information in simple and short video..Thanks 🙏

@hiralpandya3685 3 жыл бұрын

Nicely explained thank u sir..As a sci student even i have understood it very well 😊👍

@SaurabhDeshlahra 3 жыл бұрын

Please make video also on Tax Savings for Self Employed and Businessman

@amitesh0602 3 жыл бұрын

Nice education video. however, could you please let us know how and where to claim these exemptions? Is it during the tax filling?

@mayurraithatha2056 3 жыл бұрын

I couldn’t find the excel link to optimise HRA. Would you be able to share the link pls?

@shorttravelvlogs 3 жыл бұрын

Thank u so much for this video....it is very very helpful. I am going to plan my entire year 🥺🥺🥺🥺🥺

@rkb009 3 жыл бұрын

One job milega.

@abhaybansal8482 3 жыл бұрын

80EE deduction allowed only when the loan is sanctioned between 1/4/16 to 31/3/17 (Max deduction 50,000). Section 80EEA helps first-time homebuyers to save an additional Rs 1.50 lakhs per year against the home loan interest payments or the purchase of housing units worth up to Rs 45 lakhs only when the loan is sanctioned between 1/4/19 to 31/3/21 (Max deduction 1.5 lakhs) Both the deduction are over and above the Rs 2 lakh deduction limit allowed under Section 24 (b) which means your interest should more than 2 Lakhs in order to claim interest as deduction under these sections.

@pranaysaraiwala8149 3 жыл бұрын

fooling people by showing "0" tax in the thumbnail of this video

@mridul6574 3 жыл бұрын

At 17:19 they give am example where it's possible. Sure, it's not a very likely situation but it's not an attempt to fool. Clickbait? Maybe.

@diggajsharma8649 3 жыл бұрын

At least u should acknowledge this channel efforts in educating people. Don’t jump to conclusions

@pranaysaraiwala8149 3 жыл бұрын

@@diggajsharma8649 education should be provided with the right information. This is how coaching center's advertise. I am not against the content. That's absolutely useful . But the "0" tax paid advertisement is false marketing just to attract views.

@pranaysaraiwala8149 3 жыл бұрын

@@mridul6574 I agree to that.

@siddhartha-xd1me 3 жыл бұрын

If he pays 300000 as rent and need to pay EMI for home loan think about his condition 😅 .. And rent he gets is also taxable right ? We can save tax a little govt is not that flexible. Can't make it 0 just like that .

@brahmadevmahadik8891 Жыл бұрын

Is there any deductions for agricultural expenses if yes which in which section

@kirankumar4960 3 жыл бұрын

Hi, in the last example for 12 LPA package, I see you have exempted HRA first and also home loan interest. I think its not that simple. If you are paying home loan, then you might be staying or renting it out. 1.If you are staying, you can't claim HRA 2. If you renting it out, then you have to declare the rent received as income. PS: Chances of buying a home and not renting it out and staying somewhere else by paying rent are odd.

@vibhutidevadhara6856 2 жыл бұрын

There are cases where this stands valid. When you have a home loan in city A. But working and have rented house in City B. You can have exemption on both at the same time. BTW, it is no mandate to rent your own house if not self occupied.

@abhijitprabhu7874 2 жыл бұрын

@@vibhutidevadhara6856 I think even if your house is not let out still it will be deemed to be let out and you will have to show deemed rent income

@ManishKumar-ze4ec 2 жыл бұрын

A case could be when you pay home loan from the start but for the first few years ypu have not yet recived the posession of house

@CinemaTalkiesPro 2 жыл бұрын

@@vibhutidevadhara6856 there can be a case where in the new home parents are staying and I'm working somewhere so I have to be in rented house.. in other city.. or maybe in same city in different area or near to office.

@rawatranjeet1421 2 жыл бұрын

I am living in own house(with home loan) and I show both home loan and HRA for tax saving.it is possible..

@itsLaggeR Жыл бұрын

Well structured and complete help from LLA ...Hope you keep doing this every year based on changing govt norms

@shubhammalviyashubham 3 жыл бұрын

Very informative video 👍

@mithulmotty 3 жыл бұрын

But can we claim HRA and home rent interest at same time? Also about the max limit of HRA, is it possible to claim HRA of 300000?

@ncpstock523 3 жыл бұрын

Sir make, " Complete Tax saving for Rental income only " Say 15 - 20 lakhs/yr..

@yashpilliwar 3 жыл бұрын

🔥🔥🔥 what a content... massive respect sirji for the efforts

@arunveersingh4916 3 жыл бұрын

bhai chori sikha raha hai wo

@ayush5121 3 жыл бұрын

Very Informative... Thanks, Team LLA !!

@CARocks 3 жыл бұрын

6:23 HRA me only basic salary ka 40/50% ni lete... Salary= Basic + DA(in terms) + T/O Commision

@manasikhanolkar8685 3 жыл бұрын

And one can either claim HRA or Home Loan interest and not both

@ishannarang5111 3 жыл бұрын

@@manasikhanolkar8685 i think we can claim both.

@yogeshgarg7509 3 жыл бұрын

@@manasikhanolkar8685 only one a acccording to me

@manas5110 3 жыл бұрын

@@manasikhanolkar8685 You can claim both if your loaned apartment is more than 30kms away from your workplace.

@caaspirant-alokr.5862 3 жыл бұрын

Both can be taken if u are living in city and home loan taken for construction of House

@Imran-M- 2 жыл бұрын

I have 2 questions, please clarify. 1- Reimbursements section/component are not available in "Income Tax Declaration" form of the company I work for but certain components (ex: Internet) we reimburse monthly. How do I include them under "Exemptions"? Is it possible? 2- 80D - Medical Insurance premium is paid by company itself to an employee (I do not pay any premium for self). Can I still claim this as "Deductions"? If yes, how??

@SameerOp-gy1kj Жыл бұрын

NOPE BCZ it's already exempt . Medical insurance premium paid by company are not include in your taxable salary

@pranaysinghpardeshi3357 3 жыл бұрын

Income Tax Department wants to know your location😂😂😂😆😂😀

@LabourLawAdvisor 3 жыл бұрын

@jayantjaiswal7390 3 жыл бұрын

No use....since he did #TaxPlanning and not #TaxEvasion..

@jayantjaiswal7390 3 жыл бұрын

@@RaviSingh-yk9yc You need to do some work ,go and read the defination of tax evasion and tax planning and understand ....

@RaviSingh-yk9yc 3 жыл бұрын

@@jayantjaiswal7390 suppose any person earn income 1 crore and his / her net tax payable is nil this is tax planning wow...

@jayantjaiswal7390 3 жыл бұрын

@@RaviSingh-yk9yc come on man grow up don't comment like a kid..... The salary structure were discussing over here is 12 lakhs.....with which it is possible...if you can understand this,, discussion ends if not Then showcase your stupidity........

@rohitdubey1694 3 жыл бұрын

I think no company will allow you to claim HRA and as well as 80EE interest on home loan. If your salary is 12L, HRA will be max 1.2L not 3L. Children education tution fee will be considered under 80C only .There is no separate exemption for that.

@drugeshjaiswal1024 2 жыл бұрын

Right..Just for views . they are misguiding people.

@radhikagokani3660 2 жыл бұрын

truee we can't claim that much HRA

@mallutornado 2 жыл бұрын

Your home loan is for a flat in Kochi and you are living and working in Bangalore. Such scenario u can claimHRA and loan interest

@Saumya_puneet_ 3 жыл бұрын

Jabardast video 🔥

@ravindrabosamiya9837 3 жыл бұрын

dope content 👍

@ivaibhavarya 3 жыл бұрын

A very informative video, thanks for sharing it. However, I could see Standard Deduction part was missing from the example you’ve given at the last. Please clarify on this matter?

@piyushdwivedi3896 2 жыл бұрын

@TRUSTED FINANCE tu bhai thoda sa pagal hai kya?? People are asking important info. and u just scamming here. By the way tere se whatsapp ni likha jara si se aur kitna frzi bnega yrr...

@rajesh_404 2 жыл бұрын

Standard deduction is applied only when you have Taxable income greater than 5L ig

@karansharma8042 2 жыл бұрын

But in the video taxable income after exemptions was 8,30,400 which is greater that 5lakh. But still standard deduction is not applied. What could be the reason?

@manishk308 3 жыл бұрын

I have a question on getting tax refund. I filled itr for fy18 on time the same yr and paid the outstanding tax due. Somehow it was not received by IT dept and they demand tax last year and have deducted from the refund I was getting. How to get the previous tax paid back? I have the challan of the tax paid by me.

@avinashebizfiling1988 3 жыл бұрын

Feel free to stalk us here - Call: +91 9643203209

@subodhkant5353 2 жыл бұрын

You're the savior for salaried people. Thanks a lot . God bless

@Kaashif 3 жыл бұрын

Good video just two technical correction 1) HRA section is 10(13A) not 10-13A. 2) Deductions are given in Chapter VI-A not chapter VI.(Chapter VI deals with set off and carry forward of losses)

@rishabhguptaful 2 жыл бұрын

tu gltiya dhoond baith ke bs

@aadinarayanpatil9039 Жыл бұрын

income tax ki book ki link do na plz 🙏

@Vinayggoel 3 жыл бұрын

Sir, can you help in explaining this new EPF taxation rule in detail. I have read the news multiple times but not sure how it will be calculated and how it will be handled in next financial year for the extra contribution done in previous years

@john2.054 2 жыл бұрын

Excellent sir, you have a good voice quality and knowledge too.

@redteamgarage299 2 жыл бұрын

Kya khoob tarikese samzhaya hai. Thank you for all your work.

@SuperSati07 3 жыл бұрын

In HRS exemption, is it Actual rent - 10% of ( Basic) or (Basic plus DA)?. Many internet sites suggests Basic plus DA

@jitendrakarna1617 2 жыл бұрын

Include DA also

@mini_radio1996 3 жыл бұрын

If you have an agricultural income along with any other income you have to aggregate such income is chargeable to tax. Refer section 10(1) of income tax act

@AjayThakral 2 жыл бұрын

Sahi bolu iss sir ko tax ki complete knowledge nahi bus ese hi muh utha ke har baar video bna dete hai. Mostly ye logo ko Misguide karte hai

@satyavijay4913 2 жыл бұрын

Thanks a lot team LLA, answered many queries which generally HR simply say it's for employee benefit and does not disclose actually how. Thanks again 🙏 I also see lot of comments where people getting confused, for them ~ this is just a quick video and LLA cannot discuss entire Income Tax subject in minutes of time. Please refer to links shared and then make your calculations. If some of you are really tallented then please guide others don't just add me o further confusion. Thanks all

@jitendragehlot452 2 жыл бұрын

Very very helpful sir, बहुत ही साधारण language मे समजाया🙏

@shreyverma1227 2 жыл бұрын

Hi there, It was really an informative videos, thanks. I have a question, considering your example, if salary is 12L and after removing all exemptions and leveraging deduction, it becomes 7L. In that case, what will be the tax slab Ram will fit in? Will it be 30% basis his CTC or 20% as basis his net taxable income? Let me know please, I am not very good with taxation. Additionally, can the donations made, be part of deduction? If so then how?

@mithundj1979 2 жыл бұрын

After all the exception and deduction the rule to calculate the tax remains same. 0 to 2.5 lakh it will be 0. 2.5 lakh to 5 lakh it will be 5%. 5 lakh to 10 lakh it is 20%. And above 10 lakh it is 30%. So if your taxable income is 7 lakh. It would be ( 2.5 lakh * 0% ) + (2.5 lakh * 5%) + 2 lakh * 20% = 52500 rupees.

@Moon_Rise6393 Жыл бұрын

12 Lakhs to 15 lakhs income is not heavy in india as per current market situation but government is imposing too high income tax on employee. You do your hard work and government will come to sneach from you

@ashutoshtiwari3029 Жыл бұрын

30 percent tax this is huge

@sparshwadhwa8695 Жыл бұрын

M apka tax save kra dunga, We are providing free tax saving consultancy in which we help you to save your tax. If you need help regarding tax saving and filing your ITR you can contact us. contact number is shown in description and DP.

@priyanka12169 Жыл бұрын

Thank you so much sir....itne asani se koi dusri video samjh nahi aayi .. 🙃

@gtirumalareddy 2 жыл бұрын

Awesome video. Thanks for sharing many other exemptions or deductions I was not aware of.

@sanketmahajan2548 3 жыл бұрын

Very nice Video LLA team Thanks for helping lot of employees. ELSS interest is taxable if the gain exceeds above 1 Lakh and it can be saved if one rotates elss units smartly. I still do not see how 7% of ppf is better then ELSS investment, could you please explain this bit in detail?

@LabourLawAdvisor 3 жыл бұрын

I compared with other equity investment without tax saving

@deepanshujain6512 3 жыл бұрын

Hi Rishabh, For a salary between 13 to 15 LPA, can we save complete tax, need to understand in detail Please convey this info.

@mbgain411 2 жыл бұрын

U guys nailed it, I love your content keep growing and inform us ❤️✌️

@w0nderw0manjy 2 жыл бұрын

I just love this channel… superb video and extremely useful info

@shettigarrammohan2201 3 жыл бұрын

I just had one question. How can we claim both HRA and house loan deduction under exemption? you can only claim one at a time right?

@MenezesLouis 2 жыл бұрын

You can claim both if u are staying in a rented home different from your purchased home

@subhrajyotipal 3 жыл бұрын

For claiming 2 Lacs as interest for home loan (loss in house property), what will be his EMI ? Will he be able to manage it with a salary of 12 Lacs? Should he take such a big home loan with this salary ? As per your other video, EMI's shouldn't be more than 30 % of his total earnings? Isn't this flawed financial planning then? :)

@sagarsaxena7241 3 жыл бұрын

exactly

@manikantaraju9137 3 жыл бұрын

It is an unrealistic example, don't even bother worrying about it. Who claims HRA 3laksh and buys a house of 2laks EMI loan...lol!!??

@bhairabnathbanerjee8714 3 жыл бұрын

Why do you think 2lac tax exemption on Home.loan is not possible??? If someone has taken 26lac loan for 20 years in pre covid time at around 8% his EMI would be around 22k/monthly. However after that if he is still staying at rented house that would be unfortunate. In 12 lac one would not like to pay 3lac for HRA (unless he is paying that to his parents) and 2.6 lac for home loan.

@bhairabnathbanerjee8714 3 жыл бұрын

@@manikantaraju9137 possible if he has bought home in another city (under construction still) and stays in parents home... however in normal circumstances people generally claim just one.

@gsb22 3 жыл бұрын

Dislike kro vidoe aur agye bado. Ye C** KZfaq click bait banate h bus. Indirectly agar 12lakh pe 0 tax dena hai to full khol krna hoga.

@MySimpleGuide 2 жыл бұрын

बहुत अच्छी जानकारी सर जी, आप वास्तव में एक अच्छे सलाहकार हैं THANKS

@Videoskhunas Жыл бұрын

Hi, You talked about 10000 and 50000 deductions in FD interest apart from the 80C deductions, is there actually an option available over and above claiming the 5 year tax saver FD for example? OR what is better, claiming a 10000 deduction on normal FD or booking a tax saver FD for 5 years and claiming it in 80C?

@sharadsaurabh4898 3 жыл бұрын

Well very informative video. I have one doubt. If the fee paid for children education is being claimed under 80c, can one claim the exemption of education charges as described?

@nirmaljoshi5437 2 жыл бұрын

There is minimum tax amount which gets deducted every month.Can we save that amount

@srikantmohanty106 3 жыл бұрын

I was never into economics.......until see this....... You made it so understandable...... Just one word.....OP

@rajkishangupta2722 3 жыл бұрын

Bro still u r not into economics. This is taxation and not economics.

@parumal23 3 жыл бұрын

bro .. there is nothing new in this video.. these all claims and deductions company will do for you through there portal if you regularly claim in that.. also logic is you have to spend to get get tax benefit.. in some cases its just better to pay little tax .. and have more income in hand .. like hra LTA

@piyushjain5629 2 жыл бұрын

Very very informative video. Thank you team for making such videos 👍🏻

@AA7860 Жыл бұрын

No words! explained well! ⚡⚡⚡🫡🫡🫡 keep growing sir... 🥰

@ShashankLohia 3 жыл бұрын

To add to mentioned list, one can also ask employer to contribute upto 10% of basic as employer contribution to NPS, which is again tax free.(over and above 50k and 1.5L) If we go for aggresive NPS plans (higher equity share), we can expect 10%-12% tax free annual returns, (ie, you save 30% tax today as well as 30% saving on capital gain part during retirement (except for annuity part) @labour law advisor: Please correct me if wrong.

@LabourLawAdvisor 3 жыл бұрын

Good point

@AkashBhayekar 2 жыл бұрын

Only problem with this investment is lock-in period till age of 60. Which might not be preferred for most of individuals.

@iamrobot396 2 жыл бұрын

It's pretty bad to invest in nps right now. Insane lock in period plus the elss option even with 1.5l vs 2l difference easily outpeforms the nps in the long run

@cooladi002 2 жыл бұрын

@@iamrobot396 what do u mean 1.5 l vs 2 l. Can you explain

@rahulgptgupta339 3 жыл бұрын

Example me standard deduction minus krna bhul gye sir ji

@ashokkumarhadimani3141 2 жыл бұрын

Excellent Best Tax saving narration. Thanks for your effort.

@gauravarora4591 2 жыл бұрын

Great Video, Just one question i.e. I know , we can show more rent paid to get more exemption but how one can change basic salary to get more exemption that you have mentioned in HRA tax exemption on excel sheet?

@aliasgarvanak 3 жыл бұрын

Sir, Can you please make a video or give us any calculation for a higher income salary person? How a person can save maximum whose income is more than 20LPA?

@eg8049 Жыл бұрын

its better you hire a CA to do the best tax planning for yourself.

@rohitsinha6130 3 жыл бұрын

Is salary structure (Basic & HRA components) something that employee can decide?

@LabourLawAdvisor 3 жыл бұрын

In many MNCs yes, you can try for your company too

@mohsinsayyed01 Жыл бұрын

thank you this was really helpful for my net taxable income calculation

@mfinance10 2 жыл бұрын

Thanks to Rishabh bhaiya and Mandeep bhaiya. Aap ke videos bahut useful hain . aap ke videos dekh ke ye dil se feel hota hain ki Technology is boon for us ,particullary for me its. Honestly I avoid to comment on anything but aapke,Pranjal bhaiya ke ,Dhruv bhai ,Neeraj bhaiya ....ke video dekh ke aap logo se grateful feel react kiya bina reh nhi paata. from the bottom of My heart THANK YOU VERY MUCH TO YOU ALL for immence contribution towards my knowledge which make to my life as easy as possible and give feel of boon of born in Technology Time. once again THANK YOU VERY VERY MUCH.

@dangerboy234 3 жыл бұрын

Big hole in the calculation 1. Cant claim HRA and interest on HL. Exception only if the houses are in a different city 2. To claim HRA of 3 lakhs, we need to pay a rent of atleast 30 k. With a CTC of 12 lakhs, your take hom eis around 80k. Paying 30k from this in rent is a bad financial decision But good point that you covered salary restructuon whcih not a lot of people talk about

@shivathealmighty 11 ай бұрын

Paying 30K as rent out of in hand salary of say, around 90K is very common in Mumbai. 30K is minimum in Mumbai for dwelling in a decent society... Salaried class in India are a dead class..

@barthwalgaurav 3 жыл бұрын

Very good video but, in your example you mentioned HRA and Interest on house loan. Is it possible to claim both?

@ganeshprasad9424 2 жыл бұрын

No u can't claim both in the same city

@petpet4332 2 жыл бұрын

4:36 was the besttttt part. Bought smile to my face. lol

@tusardas1676 2 жыл бұрын

Hello Sir, I am interested in knowing how we can save more tax using 'tax deferred account'. I do not own any business, just for learning I am interested in this. Please recommend me if you have any course that covers this topic.

@krishnaavinash1284 3 жыл бұрын

The best detailed video 🙏

@priteshmalani9182 3 жыл бұрын

During the lockdown, I made a rent agreement between me and my mom and took full benefit of HRA. Paying rent to our parents is completely Legal ( Provided that your parents are showing that rental income in their ITR)

@MayurK-ko9st 3 жыл бұрын

Is parent have to file itr if rent amount shown is annually 96000.?

@priteshmalani9182 3 жыл бұрын

@@MayurK-ko9st If you want to claim 96000₹ via employer then you don't need to provide PAN number to your employer. In that case you can mention any dummy name as Landlord's name On the other hand if you still want to pay rent to your mother then you don't need to provide your mother's PAN number to your employer ( iff rent < 1 lacs) and then you may or may not show that income in ITR of your mom

@tamalkantide402 3 жыл бұрын

@Pritesh can we do this agreement in online? And from where you got the rent receipt?

@priteshmalani9182 3 жыл бұрын

@@tamalkantide402 As long as your employer accepts that, you can do it from anywhere. Rent receipts templates can be found anywhere.. just google it

@Damien1_1 2 жыл бұрын

@@charlieoocharlie9466 India's IT dept says payment of rent to parents is absolutely legal (has always been since independence). Google it. Your office HR might have also advised you during HR meetings.