New Tax Regime vs Old Tax regime Which is Better? Income Tax Calculation Examples

New Tax Regime vs Old Tax regime Which is Better? ₹5 Lakh to ₹20 Lakh Income Tax Calculation Examples
In this video by FinCalC TV we will see New Tax Regime vs Old Tax regime Which is Better for your in hindi. We will check Income Tax Calculation examples for FY 2024-25 with Rs. 5 lakh to Rs. 20 lakh income and compare old tax regime with new tax regime, that can help you to decide which one is better for you.
Income Tax Calculation examples for FY 2024-25 AY 2025-26 with comparison of old and new tax regime in hindi. Standard deduction is applicable in new tax regime (Rs. 75,000) and old tax regime (Rs. 50,000) for salaried employees and also 7 lakh income will not attract any tax under new tax regime due to tax rebate under Section 87A.

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Section 80C Deductions List:

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HRA Exemption Calculation:

Tax rebate and Marginal Relief in New Tax regime:

New Tax Regime 2024-25:
- Rs. 75,000 Standard Deduction
- Revised Tax Slab Rates

After watching this video following queries will be solved:
New tax regime vs old tax regime which is better?
How To Calculate Income Tax FY 2024-25 AY 2024-25?
What are the income tax slab rates for FY 2024-25?
New tax regime slab rates 2024-25
tax rebate limit in new tax regime
marginal relief in new tax regime
What is standard deduction for FY 2024-25?
Old Slab rates vs new slab rates?
old vs new tax regime which is better
Income Tax calculation FY 2024-25 using excel examples?
Tax rebate under section 87A?
What is tax rebate u/s 87a
Eligibility for tax rebate 87a
Old income tax slab rates calculation vs new income tax slab rates calculation
New Budget 2024 income tax
standard deduction new tax regime

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. 7 lacs
- 10% Tax on Income between Rs. 7 lacs to Rs. 10 lacs
- 15% Tax on Income between Rs. 10 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.

#IncomeTax #Calculation #TaxCalculation #fincalc

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DISCLAIMER:
Examples and demo used are for Illustration purpose only and might not cover every detail of examples shown.
I Am Not A SEBI Registered Adviser. All The Information Provided By Me Are For Educational/Informational Purposes Only. We Do Not Take Any Responsibility For The Accuracy Of The Data But As It May Contain Typographic Or Other Errors And Inaccuracies And We Expressly Disclaim Liability For Any Errors On The YouTube Channel (FinCalC TV). Please consult your Financial Advisor before taking any decision or action in terms of your Finances.

[fincalc]

New Tax Regime vs Old Tax regime video kaisa laga? COMMENT KARO 👇👇
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[asghar]

Very excellent information with lot of calculators. It is very helpfull.

[sunilkumarkamra]

Is HRA exempted u/s 10, if new tax regime is opted

[SadhanaNande-zich]

hello Sir, how much amount need to invest for tax 0.

[ume]

STCG & LTCG Ki kitni income per kitna tax pay karna padta hai, uska calculator batauna. New & OLD dono tax regime main..Jaise ae video main aapne old & new dono tax main IT tax calculator dikhaya uss tarah se New & OLD dono tax main STCG & LTCG tax ka calculator dikhav na ki kitni income per kitna tax pay karna padta hai-free tax limit etc...please...

[neeleshverma]

dear exccel sheet kanha se download hogi...?

[priyankasadhwani]

Apne sidhe 5 lakh se shuru kia..3-4 lakh slab bhi apko rakhna chahiye fir tax calculation. Hum kaha jaye 😢

[beingshoaibkhanb.s.k]

Hame kaisa pata chalega ki hamara new tax regime hain ya okd tax regime mein Hain

[sudhirkoparkar]

Sir, old regim मे int incom upto 50000 भी exempt हैं

[ume]

Meri only STCG & LTCG income hai, other koi income nahi hai. To mujhe Old tax regime main STCG ka 5, 00, 000 tak tax free ka benefit mil shakta hai k usme bhi 3, 00, 000 tak hain free STCG limit

[slalitha]

Is there any deduction allowed for Donation US 80G in New Tax Regime

[pratikkamble]

Sir I am a student and if i invest only 1000 rupees in short term in shares or intraday and mutual fund then it is taxable or not?? I need to file itr for this ?

[dhritilspersonalfinanceaca]

Bro ek baar check krna muze calculation mr doubt ho ra hai in new regime when we enter value in income inbetween 776000 to 797000..ek baar check kr k btao

[abhijeetrane.]

10 lkh salary required calculation for zero tax.

[kallyanjaras]

Can fincalc support over mobile number. Please let me know any official number for contact. I have some queries regarding tax and return
Thank you

[pratikkamble]

Sir I am a student and if i invest only 1000 rupees in short term in shares or intraday and mutual fund then it is taxable or not?? I need to file itr for this ?