Save Income Tax with 21 Sections in Old Tax Regime

Save Income Tax with 21 Sections in Old Tax Regime | Income Tax Calculation [Hindi]

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6 ай бұрын

Save Income Tax with 21 Sections in Old Tax Regime | Income Tax Calculation [Hindi]
In this video by FinCalC TV we will see 21 sections under income tax act to help you save income with old and new tax regime in hindi. These sections include investments under section 80C, section 80D, section 80CCD(1B), section 24 and many more sections.
These options will help you to save income tax with old tax regime and new tax regime.
All Deductions Website Article:
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Income Tax Calculator Online:
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Income Tax Slabs 2023-24:
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New Tax Regime Deductions Allowed:
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After watching this video following queries will be solved:
How to Save Income Tax with old tax regime
Deductions allowed in old and new tax regime
Is section 80C allowed in new tax regime
What are the Income tax saving options
Income Tax return filing things to know
Old vs new tax regime which is better
Income Tax Calculation 2023-24
All deduction sections to save income tax
Deductions in income tax act
Income tax slab rates 2023-24
How is 80C Calculated?
Total Deductions in 80C includes sum of the investments amount made in above mentioned 80C schemes along with Section 80CCC and 80CCD investments. The maximum limit is Rs. 1.5 lacs under Section 80C in a financial year. And additional amount of Rs. 50,000 under Section 80CCD(1B) with NPS - National Pension Scheme
Can you claim Deduction in 80C and 80CCC separately?
Not separately, but a total of Rs. 1.5 Lacs can be claimed after combining amounts from both Section. Only Section 80CCD(1B) for NPS investment allows to claim additional Rs. 50,000 apart from Rs. 1.5 Lacs in Section 80C.
Which option in Section 80C has minimum lock in period?
ELSS or Equity Linked Saving Scheme is the option that helps you to save income tax under Section 80C with minimum lock in period which is just 3 years. Watch Best ELSS Mutual funds to invest here in this video.
Is NPS under 80C or 80CCD?
NPS full form is National Pension scheme and falls under Section 80CCD(1B) with maximum investment limit of Rs. 50,000, which is apart from Rs. 1.5 Lacs under Section 80C
NEW TAX REGIME:
- No Income Tax on Income between Rs. 0 to Rs. 3 lacs
- 5% Tax on Income between Rs. 3 lacs to Rs. 6 lacs
- 10% Tax on Income between Rs. 6 lacs to Rs. 9 lacs
- 15% Tax on Income between Rs. 9 lacs to Rs. 12 lacs
- 20% Tax on Income between Rs. 11 lacs to Rs. 15 lacs
- 30% Tax on Income above Rs. 15 lacs
OLD TAX REGIME:
- No Income Tax on Income between Rs. 0 to Rs. 2.5 lacs
- 5% Tax on Income between Rs. 2.5 lacs to Rs. 5 lacs
- 20% Tax on Income between Rs. 5 lacs to Rs. 10 lacs
- 30% Tax on Income above Rs. 10 lacs
EXAMPLES:
Let's say your gross total income as Rs. 6,15,000
Let's say your total investments as Rs. 75,000. So your net taxable income becomes equal to Rs. 6,15,000 minus Rs. 75,000, which is equal to Rs. 5,40,000. These Deductions are applicable only if you are using Old Tax slab rates. Your net taxable income when considering New Tax slab rates remains Rs. 6,15,000, as no deductions are applied on your total income.
Now to calculate your income tax, if you are an employee or pensioner, you get a standard deduction of Rs. 50,000 only if you are using old tax slab rates.
So your net taxable income becomes equal to Rs. 4,90,000 if you are using Old Tax Slab Rates. But it remains as Rs. 6,15,000 based on new Tax Slab rates.
WATCH FULL VIDEO TO KNOW MORE ABOUT NEW INCOME TAX SLAB RATES AND MORE EXAMPLES.
#SaveIncomeTax #TaxSavingSections #IncomeTax #FY2023-24 #IncomeTaxCalculation #FinCalCTV
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DISCLAIMER:
Examples and demo used are for Illustration purpose only and might not cover every detail of examples shown.

Пікірлер: 91

@fincalc 6 ай бұрын

Save Income Tax Video kaisa laga? COMMENT KARO 👇👇 List of All Deductions: fincalc-blog.in/all-deductions-in-section-80c-80ccc-80ccd-80d-chapter-6a-video/ JOIN Telegram Group: t.me/fincalc_tv_channel

@nupeshbisen2229 5 ай бұрын

Home loan ke top-up per rebat milega video bhejo

@raghubellurkar8552 5 ай бұрын

You explained clearly for each and every section of Income Tax thank you Sir 🙏

@swapniln8904 6 ай бұрын

Very nice information, very easy to understand.

@n.r.bakshi7849 5 ай бұрын

Namaskar Sir, bahut sundar❤❤

@SumanKumari-ke3bj 5 ай бұрын

Very helpful nd easy to understand 😊

@MK_Good_Life_Solutions 6 ай бұрын

Sir, you provide very valuable information, Thanks a lot 👍❤🙏

@fincalc 6 ай бұрын

Thanks and welcome

@prachi6897 28 күн бұрын

Very well explained

@PANKAJKUMAR-wp8ez 23 күн бұрын

Good

@indhumathichakaravarthi1097 6 ай бұрын

Can you please tell what amount is taxable in case of salary received in hand after loss of pay or gross pay is taxable

@swapniln8904 6 ай бұрын

Please add additional cess in income tax calculator, which is applied after calculating income tax.

@anshurawat6305 5 ай бұрын

I retired from government job in Jul 23 and drawn HRA for FY 23-24 upto Jul 23. Still I am living in a rented house. What will be my HRA exemption?

@dwarakeeshdwaraka3308 5 ай бұрын

Spine surgery treatment ke liye koun sa section me deduction claim kar sakte

@saurabhgarhewal7295 5 ай бұрын

80G me donation ki kuch limit hoti hai kya or usme chhoot kitni le sakte hai

@sushmitadutta2783 3 ай бұрын

Can we claim both deduction u/s 80 DDB fo person, who suffered massive heart attack and3 stens had to be implanted for which medical expenses was above 3 lac s , also ha d hip 11 years back and now has mobility problems 80U?

@SumitPatel5192 20 күн бұрын

Good job

@fincalc 17 күн бұрын

Thanks

@poonamdhingra2435 6 ай бұрын

Pl make a detail vdo of NPS as we don’t know , how quit the NPS account & how one can withdraw the whole amount out of it & what is the lock-in period for it W? What if the amount in NPS is less than 2.5 lac

@ajay.y 3 ай бұрын

Very well explainedCan you please help me with my question? I have a home loan on my retired father's house who is a co-borrower in the loan and I live in the same house. I claim exemption (u/s 24b) against interest paid on the loan. Can I also claim HRA for living in his house? I pay him 20k per month in his account.Nobody has been able to answer me correctly on this. Please do answer. Thanks.

@dineeshbhutada5872 5 ай бұрын

Mera stock market income 500000 lakh hai aur shop ka income 300000 lakh hai, 150000 ₹ 80c me invest ment hai kitna tax lagenga new or old regime me 5 lakh short term capital gains hai

@ushabhatnagar4616 4 ай бұрын

Retired persons ke liye deductoons bataye

@anjankrdas5467 6 күн бұрын

pl.tell about post office savings bank interest excemtion in new tax regime for the assessment year 2024-25.u/s 10(15)(i)

@soothingandme 3 ай бұрын

Sir mane ki, Maine post office me 5-year ka fixed deposit kiya hai of Rs 1 lakh ka so I can claim deduction of Rs 1 lakh under 80C, right? Please clear this doubt.

@neverendingjourney1273 5 ай бұрын

Meri income 7 lakh hai aur mai 7000 rent deta hu per month to iska bhi kuchh dena hoga ya 80c me count ho jayega

@sourodeepsinha974 6 ай бұрын

Sir my father is 67years old and he is a pensioner. Is he applicable for NPS if yes then please explain how ?

@Trinath-sg1zw 5 ай бұрын

Section 80G ka maximum limit kitna hai?

@ashaverma8157 4 ай бұрын

Kya employed ladies 80 D m apne sasur ke medical claim m rebate le sakti h kya

@souravbardhan9985 6 ай бұрын

@fincalc new tax regime mei LIC ka premium bharna parta hai? If I am giving premium like 60k yearly. Then isko new tax mei declare karna padega?

@fincalc 6 ай бұрын

new regime me lic premium ko claim nahi kar sakte, sirf old me kar sakte hai

@ajinkyamandavkar973 2 ай бұрын

80G unlimited limit hai kya? 80GGC bhi unlimited hai kya?

@mahalaxmimahi6646 6 ай бұрын

Pf contribution from both employee and employer is calculated under 80c or only employer contribution only pls help me to understand.

@rajshahu2141 6 ай бұрын

Only employee contribution

@sudhirpawar9109 6 ай бұрын

hello sir, if all investment done in all section but how much Max tax save. Plz suggest consider old tax regime

@fincalc 6 ай бұрын

depends on how much investments you can make in mentioned deductions, more investments you make - more tax can be saved with old tax regime

@santoshkumarsahoo4777 5 ай бұрын

I am receiving HRA 80000 , Can i claim interest on home loan for 1.9 lakh

@vijaykjami 6 ай бұрын

Make an video on tax saving in new tax regime

@fincalc 6 ай бұрын

sure, stay tuned!

@ganeshrachkuntwar4503 6 ай бұрын

Expenditure on medicine and investigation incurred on existing diseases like Diabetis and Hypertension and it's complicstion can it be exempted in IT calculation ,if yes then explain under which section ?

@fincalc 6 ай бұрын

Medical expenses and transport allowance was replaced by standard deduction of Rs. 50,000 for salaries employees and pensioners So we get flat deduction now as standard deduction instead of claiming the bills separately

@mainaksaha7602 6 ай бұрын

Medical expenditure like medicine for parents can be claimed under 80D

@biswajitsingh7501 6 ай бұрын

what about section80CCD(2) ? Is it coming under 80C or outside from it ?

@ContentArm 6 ай бұрын

Employer's contribution to NPS is outside of 80C

@pravinbhadake1721 6 ай бұрын

80 CCD 2 des 14% hai na ?

@randheersingh76 29 күн бұрын

Sir mujhe itr file karwana h kya ap karte hain

@manvikyadav4272 6 ай бұрын

Sir ek baar NSC karva lene ke baad is NSC ko continue 5 year tak istemaal ker sakte h ya per year tax rebate ke liye per year alag se karvate rahni padegi

@pranaykohale24 5 ай бұрын

Har saal Alag investment pe claim kr skte h

@nileshsatghar7777 6 ай бұрын

U/S 24

@manvikyadav4272 6 ай бұрын

Sir let's agar feb 2024 ko 1lac ka NSC karva leta hu to iska benifit 2023-24 m melega ya ye 2024-2025 m rebate milega

@fincalc 6 ай бұрын

FY 2023-24 me milega tax benefit

@parmanandchouhan6610 6 ай бұрын

मेरी इस वित्तीय वर्ष की कुल आय 865000 हैं न्यू और ओल्ड रेजिम में कितना टैक्स लगेगा 150000 की छूट एवम होम लोन का ब्याज 60000 हैं कृपया जानकारी देवे

@fincalc 6 ай бұрын

old tax regime me Rs. 34,840 tax hoga new tax regime me Rs. 37,960 tax hoga Income Tax Calculator use karo yaha: fincalc-blog.in/income-tax-calculator/

@Radhavallabhkripa786 4 ай бұрын

Salaries income hai ya business income hai aap ka

@thetriplevisions 4 ай бұрын

Ye PDG kse milega ?

@Ravich.007 6 ай бұрын

To fincalc, bhai Mera papa ka health checkup 15000 annual hai, aur medicine 5000 monthly kya 80 d me deduction le sakte hai plz plz reply

@ManishJha-np3fp 3 ай бұрын

Yes

@snehlatamishra1522 6 ай бұрын

Please divine 80DDB

@yogeshchunara9190 6 ай бұрын

dear, can u provide all calculation excel sheet as u made.

@fincalc 6 ай бұрын

You can download Income Tax Calculator in excel here: fincalc-blog.in/income-tax-calculator-fy-2023-24-excel-download/ Also use the online calculator here: fincalc-blog.in/income-tax-calculator/

@yogeshchunara9190 6 ай бұрын

@@fincalc all excel sheet in 1 sheet ...all kind of related taxes

@sanjeevpatyal8975 6 ай бұрын

Bhai 150000 April me ek baar deposit krne par interest jyada milega ya nahi🙏

@ContentArm 6 ай бұрын

Kidhar?

@satyavirpunia8188 6 ай бұрын

Meri Income es Saal 1473696h muje kon sa regime Lena chahiye pls batana

@ayushmantri5868 5 ай бұрын

Old agar investment kar rakhe hai in tax saving schemes

@ashishgupta-zm3mi 12 күн бұрын

मेरी इनकम 2.5 लाख से कम है ITR filling करते समय मुझे एटीसी80 C, PF deduction की छूट लेना चाहिए या नहीं

@fincalc 11 күн бұрын

zarurat nahi hai kyuki 2.5 lakh pe koi income tax nahi lagega

@thetriplevisions 4 ай бұрын

Ye pdf kse milega

@amitkumarbarat6719 6 ай бұрын

If I opt for new tax regime for the financial year 2023-24, then can I shift to old regime for the financial year 2024-25?

@fincalc 6 ай бұрын

Yes while filling itr you can select the tax regime

@soaibshaikh3057 6 ай бұрын

Aap CA ho kya bhai

@anushreem5048 3 күн бұрын

Aap bole rahe ho according to tax slab more than 3 lakhs income then 5% tax. And also aap bol rahe ho upto 7 lakhs no tax. Dono samjha me nahi araha he ?

@fincalc 2 күн бұрын

Agar income 7 lakh se kam he to koi tax nahi lagega. Lekin 7 lakh se zyada income pe, 3 lakh to 6 lakh ke income pe 5% tax Dena hoga Ye video dekho Excel me to aapko samjhega Link: kzfaq.info/get/bejne/Y65haddeys6RdKM.htmlsi=2gtgMCjs_-TMSPQF