2024 Income Tax Saving and Tax Planning Guide | New vs Old Regime | Assetyogi Show #4

[@AssetYogi]

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[@NaharTm-iq9yx]

😂

[@CA_Surajdeo]

Adding few points for people who make some COMMON MISTAKES while focusing on TAX SAVING: 1. Saving taxes should be incidental, not the primary driver of your investment decisions. 2. Prioritizing tax savings can lead to suboptimal choices. So, Investments should primarily align with your financial goals like child education, wealth creation, retirement planning, Foreing trips (why not) etc 3. Chasing tax breaks with short-term investments might provide momentary gains but may not contribute to long-term wealth growth. Focus on investments with higher potential returns, even if they offer less immediate tax relief.

[@CA_Surajdeo]

Simply put, if you can claim more deductions and exemptions then choose the old regime, otherwise the new regime.

[@anilkumarbuddha5986]

सर शायद सैलरी बेस्ड लोगो के लिये ओल्ड रेजीम ही सही क्योंकि टैक्स बचाने के बहाने ही लोगोँ के पास के पास छोटी मोटी सेविंग हो जाती है। एवम सरकार के उपक्रमो को भी रुपया मिल जाता है। नए रिजीम में शायद इस कम है। आपका सुझाव स्वागत योग्य है।

[@CA_Surajdeo]

@@anilkumarbuddha5986 completely true, BIlkul sahi Anil ji, Old best hai. Ushme forced saving hota hi, aisa 80C 80D etc ka option na rahe like tax benefit etc to kayi log jo thora saving investment etc old regime k karan karte the, wo bhi karna band kar denge.

[@anilkumarbuddha5986]

@@CA_Surajdeo Ji Sir bilkul sahi kaha apne.

[@CommercekiDuniyabyjeet]

New tax regime is leading to not to invest your money

[@user-cario]

Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 7k in August 2023...

[@George_vino]

Hello, how do you make such a monthly income? I'm a born Christian, and sometimes I feel down about myself because of my low finances. But I still believe in God.

[@dustinlynn3348]

most people fail to understand that living a Life without passive income isn't worth much except trying to pay off debts and loans.

[@user-cario]

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[@MUM_SANDRA]

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[@ahmedla7773]

I can sincerely say Mr Charles Lucas is one of the best Traders I have ever seen in the state in the past few years, now reducing losses and ensuring profits

[@KOUSHIKSAHA-ju4zd]

Extremely helpful video..hats off to you that you provide these precious videos without charging any fee ...❤ Thank you sir ...

[@chetankale3907]

After seeing so many videos, your video made a clarity about tax saving with very good example Thank you

[@tarundhawan9338]

@assetyogi this excel is superb the only thing to add would be is the net tax that a person will have to pay with the deduction on each level

[@RakeshYadav-sx8js]

Thanks a lots for your valuable information sir. Anuual CTC- 12L 80C= 1.50 lac used.(PPF ) Medical=20k MF= 4k per month PPF- 12500X12 TERMS INSURANCE -32K FD N RD SOME Share I have purchased HOW I CAN PLAN MY FINANCE AND future sir. I'm newly married person. Thanks in advance sir. I really like and follow your almost all videos for financial. You are real asset yogi🎉

[@AnilPrajapati-fz5ti]

If you can reduce you ppf amount to 10k per month as you can't use your term insurance premium in 80c or even less as you might have epf contribution from your end hence insurance ppf and epf all come under 80c so don't invest extra in ppf you can use that money to invest more in mf or help you to create emergency fund

[@suhasgali4796]

​​@@AnilPrajapati-fz5ti sir, I have a doubt plz clarify, I see (12*1800rs) deducted as epf from my salary, also I see contribution from employer In epfo portal ( 3.67% as employer share and 8.33 % as pension share counting to 1800 rs per month again). So can i put (12*3600rs) under 80c for deductions ?

[@AnilPrajapati-fz5ti]

@@suhasgali4796 no you can only consider your contribution into epf under 80c that is 1800×12= 21600 rs

[@hiteshraina4032]

Also use NPS 50K 80CCD1B for additional tax saving

[@Sachin_LearnandEarn]

Same bro. 3.67% employer contribution given​@@suhasgali4796

[@SaurabhKumar-bk4jm]

I have a simple question to government. When taxes are charged on percentage basis then why deductions are fixed. Deductions should be given on percentage basis too.

[@anitaghodke9565]

Thank you for your wonderful explanation. This will definitely help me to maximize tax savings.

[@sourabhsoni5927]

Amazing. Very detailed and helpful video! 👌

[@vaishakb8095]

extremely helpful sir. Best ever tax regrading explanation!!

[@rajanrasal2677]

Sir, your videos are very helpful n informative. I appreciate your way of communication. Very clear n pleasant. All d best. Keep it up. Thanks again.

[@amanac7305]

I spent my time on something that'll help me in future totally worth it. Thanks sir ❤

[@addahHusayn]

I’m 26, $300K net worth. Been saving 50% of my salary, investing in stocks & living below my means. My goal this year is to be more serious and consistent with my investments for long term. Starting to save for a house down payment. I want to invest more this year but I'm not sure on how to mitigate risk

[@Edgardo477]

A good number of people discredit the effectiveness of financial advisors. I’ve been DCA’ing into a diversified mix of low cost Index Funds/ETFs for months, buying heavier when low and lighter when higher. I haven’t checked in a bit but I’m already up like $100K because of this. My CFP and I are aiming for a sustainable cash flow portfolio generating at least 9% yield to partially fund my retirement!

[@Edgardo477]

Credit to 'Martha Cornell Kerns' will recommend you look her up, Well, she recommends about 5-9 big rising stocks every month, 3-4 every week and the profits on these stocks are about 20%-55% most times or even higher

[@goolqui]

Scam alert 🤬🤬

[@addahHusayn]

Amazing speaking with her on the phone, I really Appreciate 🙏

[@dipenpatel5317]

Thank you sir, you have clear all doubts about old and new regime

[@mrbishtji]

Thank u Asset Yogi for the useful info. . best part is to the point solution no faltu gyaan.

[@girishraddy6049]

Really Fantastic video sir. - Keep uploading like these types of videos

[@riteshguleria3557]

Very nice video sir. There’s one point I want to add regarding EPF contribution. 12% contribution is mandatory only when basic salary is Rs 15,000/- and below. Above this employer has option to cap the EPF contribution to maximum of Rs 3600(1800+1800 for employer & employee ) per month. So many employers exercise this option including mine. This we can’t take much advantage of it. Pls clarify me if I am wrong.

[@cachandraprakash943]

You are correct

[@AmdavadiAjju]

As always perfect video

[@gopalgarasiya4538]

As a teacher i want to save my Tax my income is around 8lac per annum. Make such a informative videos for teachers .. 🙏🏻

[@lulsec]

You don't fall under taxable income bracket !

[@meetvaghasiya3681]

Choose old regime 1.5 lakh elss, epd or ppf 50k nps Other 50k deduction yoi have to do from medical insurance, children education , travelling, 80ccd(2) , home load , or rent. Whatever applicable

[@SUBRATAMONDAL-wc4bw]

This is possible only on Theoretical form, if any one have two child then for their education minimum yearly expenses 2 lakh, for food, cloth,transport minimum 3 lakh in a year.. then how anyone can manage their expenses.

[@SUBRATAMONDAL-wc4bw]

No can afford both House rent and home loan that much of amount.

[@GopalPatil-y8t]

1.If l am government employee l will not get benifit as company employee's get. 2. I have rented my house.But staying in same city on rent. Can l claim HRA benifit for exemption?

[@dhirenderu1]

In New Tax Regime, we don't get EPF deduction. Kindly correct this in video (20:07)

[@compiled.7641]

Employer contribution is deductible

[@dhirenderu1]

@@compiled.7641 its only on Corporate NPS not EPF deduction that is also upto 10% of Basic and DA for private employee

[@dhirenderu1]

@@compiled.7641 Only the Corporate NPS benefit is considered in the New Tax Regime, not EPF. However, in the video, it was considered, which is why I mentioned it in my above comment.

[@neelshah5465]

All concepts clear bhai, thanks for explaining 🙂🙂

[@manalibhatt9913]

Aapki Deduction Calcution Me Mistake hai, New Tax Regime Me Let Out Property ( Rented Property ) me Home Loan Interest ko Sec 24(B) me Unlimited Deduction Claim kar sakte hai, Income Tax Advance Calcultor Ka Use kijiye...Waha Par Deduction Cheak kijiye...

[@pythonwithpankaj3469]

Let's say you changed your company in between FY then how tax will applicable? What documents are required? And someone who selected old regime in first company and then choose new in second company then how he/she can save maximum tax?

[@amollaate4657]

Sir, Thanks for this informative information and this is eye opner video. I would like to see a video of the combination of salary 18L and share trading @ 12L in one finacial year.

[@nabinmittal9735]

Excellent sirji , bahut badiya bataya aapne, thanks a lot

[@anuragadarsh9711]

Great video......this what I was looking for.....👍👍

[@matthai67]

Beautiful presentation

[@mayapadakapri5181]

Really helpfull video, thank you so much sir

[@jasikasaluja04]

Sir 1285000 wala jo amount ban raha tha taxable under new regime usme aage kitna tax calculate hona tha? Vo apne change hi kr diya tha bina final tax calculation ke. Can you please elaborate on that?

[@amanac7305]

Likha hua tha jis tax bracket me taxable income aayegi utna percentage of your taxable income se tax pay karna hoga

[@TRUEIndian413]

Thanks a lot Sirji. As always very useful and informative video

[@AssetYogi]

Always welcome

[@garrysingh3337]

I am a web designer. I do job in MNC. I want to start working as freelancer on upwork, fiverr etc. and do some extra projects through references. Q1. I want to be able to deduct my expenses for travel, stay, marketing, equipment purchases, depreciation in equipment from my income. How can I do this? Q2. If it is necessary to have some sort of entity then which is best such that I need not do any compliance, or extra expenses or extra work for the entity? I just want to focus on my web designing. Q3. Also how can I reduce taxes? My total income from job and side projects will exceed 20lacs.

[@vijaykashyap4618]

Sir,under sec 24 rental income to a salaried person from his residential property which is taken by him from home loan and he is paying loan intrest of rs.200000.= p.a is eligible for deduction of rs 200000.= under new regime

[@SimranKamboj]

Can u make a video on how as a freelancer we should be handling our finances ?? Getting a GST number , filing taxes and GST and other things

[@bravi8317]

Sir, Under New Tax Regime Govt must consider differentiate PWD 80U, Under Old Regime also there is no increase in Limit for Last 8 yrs (75 k/ 1.25k) It should atleast increase as per inflation during so many years.

[@rahindrapradhan5926]

Sir loss from stock trading ko salary income se set off kar k tax zero kar sakte hai kya...... please reply

[@Animajain_]

Joint loan - interest can be claimed by both? Double deduction?

[@tarunamehta7498]

Sir mujhe capital gain ke baare me jaanna tha, allotment date 2010 ki hai or registery date Jan 2023 hai, purchase date kounsi manege, or June 2023 me sale out karne par kounsa capital gain lagega or isme kya kya deduction or rebate le sakte hai, kaise show karna hai please detail se bataye

[@WalterWhite-og6wj]

30 lakh se upar ki CTC pe new tax regime hi beneficial hai chahe kitne bhi deductions laga lo old tax regime mein

[@beyoundyourself1]

Under which section/ Row should I put "Exemption: EPF Employer's Contribution (12% of Basic, upto 7.5 Lakh p.a.)" amount during ITR filling?? *NOTE: I am not concerning about the deduction u/s 80(c).

[@shubhangi3483]

Sir Agar comapny CTC vegra nahi dikha rahe hai aut Gross salary dal rahe. To kya kate Employment Providend fund kaise kam kare. ? 80 D mai mediclaim policy husband claim kar raha hai to wife uska claim le sakhthi hai kya. ? Home loan Husband salary ja raha aur joint home loan hai to husband wife home loan interest ka benefit le sakhi hai. ? Salary Aur insurance commission income hai to konsa form bharna hai? Form 16 mai medical exp nahi dala hai to return bharthe samay le sakha the hai? LTA form 16 mai nahi dala hai return filing karthe samay le sakte hai kya?

[@amolsapkale2453]

Thanks for this video. Eagerly waiting this video every year 😅

[@mohananen4488]

my requests for the clearing the following points sir 1. i have second flat where my daughter is staying with family. so can i claim HRA as shown in the rent out flat 2. what is the health insurance claim max to sr citizen, since i am the one 3. i bought dollar for Rs 30000 ,so how it will be calculated /any difference required in ITR forms. I am a pensioner and usually i am using ITR1 to file return, no income from business

[@manasiamate1018]

Sir.ghar ka possession milane ke bad interest on home loan ka exemption milata hai kya

[@vishaltawde8877]

For HRA mumbai parents home & Thane rent home can be considered? Also what will be document for rent to parents

[@bhupee29]

Very nice explain...thanks 👌 😊

[@ankurjain1513]

SIR INCOME FROM PF( AFTER LEAVING JOB )+ SHARE MARKET INCOME ( LONG/ SHORT TERM / OPTION ) HONE PR KESE CALCULATE KRE HAVE ANY VIDEO PLS SUGGEST

[@himanshuvlogs9700]

Inlaws ke home ko rent de sakte hai kya same city me, HRA bhi claim karna hai

[@CA_Surajdeo]

Yes You can. Even parents ko rent de rahe ho to wo bhi you can claim.

[@_gauravsharma_]

Definitely investing will become simple for someone who don't know even about 80C. But for others, we'll see. Good luck.

[@samratchakraborty8755]

Hi, Can you please clarify - 1) If the gratuity amnt. has been considered part of CTC, will it be factored under taxable income in the New Tax regime? 2) What about Professional Tax, will that also be considered in the New regime? looking for your answer. Thanks in advance.

[@navleensingh3807]

In new tax regime Professional tax is not deducted and is considered a part of income.

[@abentertainment8399]

This video is very informative. Thank you sir.👍

[@sangitapatel4222]

New regime handicap conveyance per month 3200/- and General professional tax per month 200/- Deductions milega

[@pkgambhir6296]

What about exemption on SB and FD interest in old regime?

[@prashantk25]

To claim so many exemptions we have to spend money in that category. Just imagine, 3L of HRA means, one must be spending approx 25k per month on rent, 200000 claim in home loan interest, means 20-25k of EMI. NPS contribution 6k. What will remain in hand or take home salary, how much one will invest in stocks or mutuals funds.. almost nothing.

[@ajayraval5130]

Great video with detail comparision amazing Work by You sir ❤❤❤

[@payaldan]

I am staying in a rented home and planning to buy an under contstruction home in the same city. I will have to stay in rented home until the new house gets ready ie 3 years. So for next 3 years, can I claim both HRA and Home loan exemption. My home loan will start as soon as I book the flat at cellar stage of housing.

[@sumitdubey5528]

Under which section or head i can claim employer epfo contribution?

[@CA_Surajdeo]

Everyone is aksing the same question😀I have replied to many people above, you can check . Else I will clarify

[@onlinesaidasa9105]

Namaste Investors can consider National Pension Scheme(NPS) for investment Employees contributing to NPS are eligible for following tax benefits on their own contribution: Tax deduction up to 10% of salary (Basic + DA) under section 80 CCD(1) within the overall ceiling of Rs. 1.50 lakh under Sec 80 CCE. Tax deduction up to ₹50,000 under section 80 CCD(1B) over and above the overall ceiling of Rs. 1.50 lakh under Sec 80 CCE. Thanks

[@manu_goyal007]

I dont have reciepts of rent , that why i didnt provided proof to the company , can i claim HRA now during filing itr

[@tryhemantana]

Thank you for this video. I was under impression, in new Tax Regime EPF Contribution is not considered. Is it Employer or Employee? Our firm has not shown the same in Form 16

[@prateeksharma1135]

Thanks for vedio, have Sone questions 1. If salary slip has only employer EPF contribution, so under which section tax exempt will filled. 2. Employee contribution missing in payslip, I need to ask employer or directly I can exempt U/S 80C

[@manjusv2560]

Sir, i have purchased house by home loan in 2016-17 and later transferred home loan to other bank in June 2021 ... please clarify whether should I claim home loan interest over 2 lakh under 80EE or 80 EEA

[@mukeshthakker6920]

I have old regime for me , can I shift to new regime & than next year to old regime if it will be beneficiary due to FM announcement every year for new limit of free income for new regime

[@payaldan]

Can you explain what all allowances can we get exemption in old tax regime? Meal allowance/Internet allowance???? In my CTC these are not added as taxable income though

[@TheBlissful_Life]

Sir, I have withdrawl the employee pf and also declared as tax investment in FY 2024, will income tax caught it during ITR assessment?

[@VMohan-qf1rh]

Sir Army person ki salary TR-2 main hum kese deduction le skte h please video bana dijiye ☺️

[@SunilGupta-yy1gh]

Awesome video

[@haradhan.mahanta]

Is Gratuity and leave encashment taxable in case of resignation from a pvt. Company.

[@prasantkumar1444]

Bahut badhiya information... Thankyou si much

[@496839]

Hello Sir, your video is extremely grateful but I have a question for you. In your video you have captured ₹96000 as an employer contribution to EPF but you didn't mention under which section?

[@pankajkumar-qs2je]

How can avail tax benefit under section 80ccd2 in new tax regime? Clarify plz...

[@Abhijitjitu]

A spouse receiving 85k per month as full compassionate family pension who is under 60 years old. Now, can she claim both standard deduction of 50k & deduction for pensioner 15k both? Say total deduction 65000 rupees under new tax regime?

[@RamapatiMaurya]

Hello sir, For a salaried employee if he has other income source such as stock market income then he will fill ITR2. In that case employee can switch from new tax regime to old tax regime?

[@mohitkumarjain9553]

Can you claim both if you are staying in the same city - 1. HRA & 2. Loss from property in sec 24

[@sureshhalmare8098]

This video is very informative. thank you sir.

[@kishordhilpe6439]

Nice Information Mukul ji

[@mahendrarasal6745]

Salary income 13L+ hain, housing loan bhi hai. Tax kitna kum ho sakta hai. Please give me advice.

[@hemantnaik4610]

Sir can you please make a specific video for government employees for salary upto Rs. 15 lakh

[@SandeepRana-rk5tg]

Is contribution made by employer and employee both is deductible under new tax regime???

[@traveej]

A government salaried employee who invests in MF and stocks will use which form to file the IT return?

[@vpstca]

Itr2

[@traveej]

@@vpstca thank you

[@pratikdevmurari412]

My employer will generate Form 16 soon. Should I let them know which Regime I want to choose? Or I can select while doing the ITR file.

[@bkcy18]

Where is the EPF head when filing in new tax regime?

[@Shubham-eo9qr]

Agar koi share market se ek financial year me 60k paise profit bnaya hai to kya wo bhi ek business me under hi count hoga ya aur is case me wo switch kr skta hai ya nhi old to new or new to old??

[@deepakbohra142]

Sir, house provided by company, same location in the factory, and 1k is paid every month as rent...... despite of the value of this facility has been imposed in perquisites option 1.38 lacs ( income), is it fair....? Or how it can I be exempted?

[@rameshchandradas3776]

Pls provide calculation for retired person old & new regim

[@dineshshah2336]

होम लोन ले व्याज और मुड़ी पर , पति-पत्नि कितना अमाउंट डिडक्शन में ले शक्ति है जी ?

[@JAYP20256]

aap ek video share market ki income pe tax kaise file krna hai us pr bnaiye? uska tax calculate kaise hoga? aur kya person income(salary or business) tax isme add hoga ya nhi?

[@santoshkumargupta3311]

Sir, EPF employer contribution kaun se section main exemption pa sakte hai...jaise ki apne Rs. 96,000 show Kiya hai video main.

[@ravimehta8884]

Epf deduction is not applicable in new tax regime,but u have shown in new tax regime

[@binosina5059]

Very well explained 🎉

[@surajbehera388]

Very nice & very informative video sir.. I hv a question sir. My income tax is already deducted as per new regime(by default),then can I file my ITR-1 as per old regime in this year??

[@kuldeepc01]

अगर आयकर आकलन प्रपत्र आपने new tax regime के हिसाब से भरकर जमा कर दिया है,! और जुलाई में ITR भरते समय आप ओल्ड टैक्स regime चुन सकते है क्या? या उसी हिसाब से भरना पड़ेगा जिस हिसाब से आयकर आकलन प्रपत्र जमा किया है???

[@shaileshyadav-gl2zc]

yes.. aap kar sakte ho change..

[@vaibhavchavan286]

Wanted to know does gift to family members can help in reducing taxable income?

[@purviporwal398]

Having other income like dividend along with salary income...can they switch from old to new n vice versa?

[@abhishekghode6397]

Sir, if the house is registered in both husband and wife name, then can the interest paid on home loan be claimed by both?

[@vpstca]

Yes, in the ratio of property

[@AssetYogi]

If you have taken a Joint Home Loan, then you both can claim it.

[@CA_Surajdeo]

If they both have taken a loan jointly and both are contributing to the EMI, then only, they both can claim.

[@farhank90]

Hi, can we change from Old regime to New regime before filing ITR? OR need to wait for next financial?

[@DeepakGoswami-f9l]

Nice information sir 👍

[@satinderpalsingh7268]

One Case, where dependent got medical treatment from the IT exempted hospital and the reimbursed amount would not considered as perquisites by the Employer if employee submit the certificate provided by IT dept to hospital. In this certificate under clause 2 they have used the word 'medical treatment '. Is it mean only IPD cases or subsequent OPD cases also. Pl clarify . APPROVAL UNDER SUB-CLAUSE (b) OF CLAUSE (i) OF THE PROVISO TO CLAUSE (VIII) OF SUB SECTION (2) OF SECTION 17 OF THE INCOME TAX ACT, 1961 (READ WITH RULES 3A(1) & 3A(2) OF INCOME TAX RULES, 1962)