New Tax Regime vs Old Tax Regime: Which Is Better? | Economy | UPSC

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In this video, compare the old and new tax regimes to determine which is more beneficial for taxpayers and the economy. Analyze key differences, advantages, and disadvantages of each system. Explore the impact of tax reforms on individual taxpayers, businesses, and the overall economy. Prepare effectively for UPSC examinations with comprehensive insights into taxation policies and economic implications.

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[athaullaathu]

We need more videos on Tax in India'.... Salaried persons are being used as cash cows leaving middle class to stay in middle class and not allowing them to grow to upper middle class...

[Notata]

Even after paying so much tax, the government is not providing any good facilities.

[ap-hldl]

Tax payers who pay income taxe have no benefit from centre Government, this is very disappointed.. Government should giving some benefits to tax payers like...life Insurance, Medical treatment benefit...etc.

[pranovraj]

Ministers like MP, MLA etc. should also pay tax. It is so unfair that they get free telephone, air tickets, house, servants, free electricity, subsidised canteen food in government offices / state rooms, no tolls and so much more. It's more like a lottery for them.

[bkm]

Tax 10%se jyada nahi hona chahiye by Rajiv Dixit

[CccHaresh]

PPF - PENSION PROVIDENT FUND ❌

PUBLIC PROVIDENT FUND ✅

[JoelMathewThomas]

Thank you sir please make more videos about topics like finance, taxation, tax harvesting...etc, topics like this are very helpful

[deepakverma-dcex]

10-12 lakh and above tax hona chahiye and highest tax slab should not be be more than 25%

[RuralInvestor]

For those who is happy from increase rebate bracket of 7 Lakh but truth is different.
- Govt removes 80C (ELSS, PPF, EPF, FD, Children tuition fees, etc) which is having limit of 1.5 lakh exemption.
- HRA (House Rent Allowance) is also removed which can benefit you to exempt 50% of basic salary or 10% of total salary.
- Medical insurance premium or 80D is also removed.
- Savings Bank Interest u/s 80TTA and 80TTB is also removed from exemption.
- Interest on Home Loan u/s 24b on self-occupied or vacant property is also removed from exemption.
- Other Chapter VI-A deductions

[Manas-fi]

New regime is simpler as there are fewer specific exemptions but increased base exemption. Overall you will pay the same tax but new regime will make it easier to file tax.

[MrSam]

In next election, we middle class or working people will only vote for the government who talks about improving taxations for working class. We won't vote for religion or anything else, our main concern will be taxes.
What do we get for paying such high taxes?

Can we atleast get faster legal case completion, priority in legal matters etc etc.
We get no benefits even after paying this much tax from govt

[Sinner_]

I think max tax shall be 10-20% that too above 7-8 lakhs....

Any percentage higher than 10-20% in tax makes people unwilling to pay tax ultimately leading to lesser collection of tax

[nomadic]

Recently joined the Central gov job ..i was worried about filling ITR ..many thanks to you !!!

[janvirawat]

* Chlo shururaat krte h or dkhte h chl kya rha h*
Ankit Sir best line 😂❤❤

[sashanksuraiya]

New Tax Regime would be beneficial for most of the people...less complicated and easier to file

[iamrohitbarik]

Include politicians income under income tax, every person will get rax benefits after that...80C will get increased to 10L.

[akshayraj]

New tax regime introduced under section 115BAC of Income Tax Act, 1961
From the Previous year 20024-25 as per Income Tax Act, 1961 (fy 24-25) it will be the default tax regime for taxpayers
Here is the slab rate for tax calculation
Upto
3, 00, 001 to 6, 00, 000---5%
6, 00, 001 to 9, 00, 000---10%
9, 00, 001 to 12, 00, 000--15%
12, 00, 001 to 15, 00, 000-20%
Above 15 lakh
Income Upto 7 lakhs is exempt (no tax will be paid)due to rebate under section 87A of Income Tax Act, 1961

[NetXNinja]

The ruling government is distributing this tax to all the criminal leaders such as Brij Bhusan Singh.

[Dipu-pm]

Really Ankit sir's explanation is best...