BUDGET 2024 Zero TAX Strategy | మీకు ఎంత TAX ఆదా అవ్వనుంది?Explained | New Tax vs Old Tax Regime

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Understanding Tax Calculations in Budget 2024: A Comprehensive Guide
Welcome to Money Purse! In this video, we delve into the intricacies of the Budget 2024, focusing on tax calculations and key highlights. Whether you're a taxpayer or a financial enthusiast, understanding these changes is crucial for making informed financial decisions.
Key Highlights of Budget 2024
Budget 2024 introduces significant reforms aimed at boosting economic growth and simplifying the tax system. One of the central themes is the comparison between the *old tax regime* and the **new tax regime**, providing taxpayers with greater flexibility.
Tax Regime vs. New Tax Regime
The old tax regime follows traditional tax slabs with various deductions and exemptions, allowing taxpayers to reduce their taxable income. However, this can be complex and often requires meticulous planning.
In contrast, the new tax regime offers lower tax rates but eliminates most exemptions and deductions. This simplified approach aims to reduce compliance burdens and make tax filing easier. Understanding which regime benefits you the most is vital for optimizing your tax liabilities.
Tax Calculations
We break down the tax calculations under both regimes, using practical examples to illustrate the differences. Learn how to calculate your taxable income, apply the correct tax rates, and maximize your savings. We'll guide you through:
- Income slabs: Understand the revised income tax slabs and how they apply to different income brackets.
- Deductions and exemptions: Compare the impact of popular deductions like Section 80C, 80D, and others under both regimes.
- Tax rebates: Discover available rebates and how they can influence your overall tax liability.
Strategic Tax Planning
Effective tax planning is crucial for financial well-being. We offer insights into choosing between the old and new regimes based on your financial goals and income structure. Our tips will help you:
- Evaluate benefits: Analyze the pros and cons of each regime tailored to your specific financial situation.
- Maximize savings: Learn strategies to leverage tax provisions for optimal savings.
- Stay compliant: Understand the importance of timely tax filings and maintaining accurate financial records.
highlights from Budget 2024
Reflecting on Budget 2024, we revisit pivotal changes that set the stage for this year's reforms. The focus was on enhancing digital infrastructure, boosting startups, and promoting sustainable development. These initiatives continue to influence the economic landscape in 2024.
Conclusion
In conclusion, Budget 2024 presents both challenges and opportunities. By understanding the nuances of the old and new tax regimes, you can make informed choices that align with your financial goals. Whether you prefer the flexibility of exemptions or the simplicity of reduced rates, this video equips you with the knowledge to navigate the tax landscape confidently.
Don't forget to subscribe to Money Purse for more updates on financial insights and strategies. Leave your questions in the comments, and let's discuss how these changes affect your finances.
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[@MoneyPurse]

To support our channel use the link below IDFC free Credit Card (Free) - wee.bnking.in/ZTFkZTc1 AU Credit Card (Free) wee.bnking.in/NmZkNGQ4 You can compare Term Insurance here 👉bit.ly/46hsSJA You can compare Health Insurance here 👉 tinyurl.com/pgc9dcxc TELEGRAM: telegram.openinapp.co/money-purse Link to download Calculator: t.me/moneypurseadv/138017

[@venkateshmenta1993]

In telegram u updated the old excel file for tax calculation Can u pls update today's excel file which u showed in video

[@venkateshmenta1993]

And the sheet is protected,pls unprotected an

[@ranguupender9833]

New tax slab lo NPS ni deductions lo chupinchakudada sai garu. Please reply

[@nshylendarrao7801]

Avnu anna sheet protected undi anna Password adugutundi

[@naveenbandala837]

Ha sheet lo standard deduction 75k pettina 50k me consider chestundi

[@pandu2129]

The problem with the Indian taxation system is "taxes are high but services are poor". Where is this all money going? So, the answe is a major part of the money goes to either corrupted government or freebies😢

[@ManojKuma657]

That's why most of people will try to get as much refund as possible

[@sharmilakolli4869]

Exactly

[@krishnamurthy5838]

💯% Correct

[@parthasaradhimachiraju5615]

Getting used for so called politicians’ foreign and other trips..

[@karanamsagarmurthy6354]

The important problem is crores of people are not paying income tax. Only employees are paying because of TDS. Pity

[@Jagan3105]

For central government employees, employer NPS contribution is 100% deduction allowed. Request to add this component also in this excel.

[@JethuVlogs]

Providing the excel sheet with in short period is really great Sai Anna and team...thanks alot I have declared Old tax regime

[@mnvsatyanarayana7215]

Really sir channel is very very quick in providing information to our middle class people .Thanks for support from bottom of my heart❤️❤️

[@kscappana]

Middle class is only for name sake in india. Only difference is Middle class has to fight for food and shelter whereas poor people will get it for free of cost without struggles.

[@rajasekhardevatha9519]

Sai garu Naku asalu aratham kadu....sampadinchali .....but invest cheyoddhu (new tax regime) .... Invest cheyali but tax pay cheyali (no exemption)....adhe difference . From past 10yrs no increase in 80C limit and no increase in standard deduction......

[@tejeswararaoyenda5759]

From today, I understood that they won't give any more benefits in old tax regime; they want everyone to move towards new tax regime, which will happen before next elections in 2029

[@BharathkumarYadav143]

​@@tejeswararaoyenda5759Yes even i am thinking the same

[@rknadella03]

new is straight forward

[@Dr.VijayK]

Clear and crisp compilation. Thanks Mp team for all your swift efforts.

[@MoneyPurse]

Always welcome

[@tvrao3528]

Since I am a senior citizen, I opted for the old tax regime for availing SD, 80 C, 80 D, 80 TTB etc..

[@peepapampu]

As far I know, MP team one of the fastest guys to provide this cal today. Along with whoever did, kudos to the one(s) who planned this timely..

[@madhusudhanaraoa4366]

Sai gaaru. Yours is the most genuine and authentic channel. Many times, I share your videos to people across, India, with my personal request to subscribe to the channel. Some of my, freinds and people who I know ( Since I studied in HCU,) know only English and Hindi. Hence, may I request you to explore the possibility of bringing up an english version of channel, so that, it reaches wider audience. On my part, I promise, that, as has been the case, earlier, I can share the this, too to many people. Prof Ams Rao TPT.

[@RamaKrishna-je2nn]

మన దేశంలో మిడిల్ క్లాస్ వాళ్లు మాత్రమే సిన్సియర్ గా టాక్స్ కడతారు, మిడిల్ క్లాస్ వాళ్లు మాత్రమే గవర్నమెంట్ ద్వారా ప్రతి దాంట్లో టాక్స్ దోపిడీకి గురవుతు్నారు..! ఉన్నవాళ్లు ఎలాగు తప్పించుకుంటారు.

[@ashyamkumar8966]

Not only middle class effect below middle class and poor people also effected IT tappa they are paying all the other taxes

[@soilderi1189]

Good information with calculator sai garu. ఈ sheet లో LTCG & STCG తో ఇచ్చి ఉంటే ఇంకా బాగుండేది. Itr లో STT ను ఏ section లో చూపించుకోవాలో తెలుపగలరు. ధన్యవాదాలు

[@MaRvElOuSmAhEnDrA]

Meru chestunna e work ki joharlu 🙏

[@subrahmanyampenjarla3596]

Good Comparison sheet among old, new and new-fy25 tax regimes. But it would be good if you include capital gains section in calculator since most of the followers are investors impact with STCG and LTCG revisions.. Few issues with the calculator sheet is: in KZbin video new tax regime for current FY also showed but not found at excel sheet calculator. Standard deduction is given but no logic given to auto calculate if income is salary, currently showing 0 for any amount so it is not accurate. To fix this Total Income supposed to make from Salary/Pension Income and Other Income fields. So logic can create for Standard Deduction, there will no standard deduction if no salary/pension income. As I said above, if capital gains section added, we would know how does it impacting with PrevFY and Proposed new tax regime differences etc.. anyhow PrevFY new tax region was removed in posted excel version. if possible please add and release new version document.

[@viswanathreddyn8412]

Nenu, 30% Slab lo vvna, old e apudu epudu best

[@vvfg103]

You have very good knowledge, but people don't have any knowledge they r financial ministers

[@Praveen-yu8xk]

I am using old tax regime till now

[@prudhvivankineni4880]

Good boy

[@srikanthreddy9103]

As per the updated new tax regime, rebate will be till 7.5lac. because the rebate is upto 25000. If you calculate the tax for 7.5lac it is 25000. So if your income is 8.25lac or below, your will pay zero tax

[@velpurivenkat]

Madam has never considered the wishes of either employees or middle class in these 7 budgets. మసి పూసి మారేడుకాయ చెయ్యడం. 11 సంవత్సరాలనుండి ఎదో చేస్తారని ఎదురు చూడడం, బడ్జెట్ అయ్యాక నిట్టూర్చడం. The Government forcing us to spend not to save.

[@DianaDoane-r2j]

I really love your taste and style always so chic. My faves would be the kislux leather backpack and the Swarovski pave diamond ring so gorg. Thank you for your recommendations.

[@rajeshs7477]

సాయి గారు.... నాకు టెలిగ్రామ్ లో అకౌంట్ లేదు. మీ యూట్యూబ్ ఛానల్ మాత్రమే ఫాలో అవుతున్నాను. ఆ టాక్స్ కాల్క్యూలేటర్ ఇక్కడ షేర్ చేయండి ప్లీజ్......

[@TeluguVeeraKannadiga]

Same

[@RKJ553]

Same

[@madhuchinmay1859]

Same here as well

[@ramakrishnachebrolu3338]

Since I already trapped in tax saving schemes investments for tax benefits, now without option I am following old regime

[@narlamaniteja1045]

This video would be useful while filing next year ITR😂😂

[@santoshkumarg2585]

Sir, in tour calculator, please include option to enter bank interest, dividend, STCG and LTCG. It will be helpful.

[@manojm5747]

Going forward STCG & LTCG on stock market transactions shall be taxed under normal tax brackets.

[@chillbro.229]

Limit as increased

[@surendrak9394]

True bro

[@hrarunraj]

Using Old since i have 80c, NPS, Home Loan, Parents' Insurence

[@jaswanth_kumar_k]

Middle class will become poor by 2030 😅😅

[@44santu]

Hahaha😂

[@gurusaiprasanth]

Idi matram correct

[@ptspptsp7918]

నిజమే

[@ferozshaik1234]

Leaving india best option by 2030

[@laxmangunupudi4266]

😂

[@sivasankardivi146]

టెలిగ్రామ్ లోని calculator ప్రకారం 75L income కి 26k tax చంపుతున్నది

[@venkatamuralimutyalapalli9992]

Jet speed lo update iccharu thnx team

[@balaji2307balaji]

@moneyPurse - Thanks for your calculator Excel sheet. But it requires few changes. 1) Standard deduction still showing 50k. (it was increased to 75k in this budget). 2) As per latest news, FM announcted NPS decution is applicable to New Regime also. Please confider these points and provide us the latest Excel sheet.

[@manojm5747]

నిత్యం పెరుగుతున్న సమస్య భారతదేశంలోని అన్ని సమస్యలకు మూలకారణం. దీనిపై దృష్టి సారించే బదులు....ప్రభుత్వాలు జీవితంలోని ప్రతి అంశానికి ఎక్కువ పన్నులు విధిస్తున్నాయి, ఆదాయం సరైనది కాదు.

[@madineniashokkumar336]

With GST they are getting 1.5k lakhs income every month and still they killing middle class people

[@RameshChandra-sf3jb]

Hi Sai Anna, I am so loucky and proud that I have a money purse follower and Lover. U R literally awesome anna...THE BEST ....My Star...Literally I learned a lot from your videos.

[@SidduRishi-xm7oj]

మేడం గారు తియ్యటి హల్వా తిని ఇన్వస్తార్స్ కి మాత్రం పచ్చీ గోడ్డు పెట్టారు........😢😢😢

[@vijayakumar4106]

Yes.

[@naveen1508]

Dtt lo chusa

[@naveen1508]

Goddu karam

[@naveen1508]

Verey valladi copy paste

[@tirupathiraokondapalli1761]

Correct boss

[@SampangiBharat]

Old is best, atleast for youth sake, they learn about investments

[@karuturiratnaji8663]

ఒక రూపాయి మీద నాలుగు సార్లు పన్ను కడుతున్నాం

[@sd6899]

MAKE VIDEO ON HOW TO GET EXCEPTION FROM LONG TERM CAPITAL GAINS TAX ON SALE OF AGRICULTURE LAND IN URBAN

[@rajugundas9288]

మేడం గారు తియ్యటి హల్వా తిని ఇన్వస్తార్స్ కి మాత్రం ఎర్రటి గోడ్డు కారం తినిపించారు 😢😢😢

[@aravindb9881]

😢

[@rakeshlingam]

Overall for people with 15 lakh and above taxable income will save 18,200 in tax

[@serializationandinventory4490]

I too have watched budget and remembered our money purse immediately when there was a small change in tax slabs. I thought you would develop and share it later. But this is really awesome that you provided today itself. Awesome as always.

[@AnuRadha-qz9gl]

What about rebate under 87A lying there with no benifit... Provision should be increased to 8 lacs na to get benifit. They didn't discuss about this in budget.

[@tirumalagirisreepati421]

Sir can you please recheck once- for most of the people New tax regime is more beneficial-each company offers tax simulator tool to employees-when we simulated with it-we found new tax regime is more benificial

[@kvsbabu2124]

Old tax regime only. In excel for new regime Standard deduction is showing as 50000 instead of 75000. Please check and do corrections.

[@satishkumar-gc5rk]

I have opted for new tqx regime though i have nps,80c and med insurance.. If i had home loan i would have opted old tax but without home load for me new tax was better.

[@munna0431]

Hi sir, you are calculating 75K instead of 50k in standard deduction for old TAX Regime.

[@kirankumarbodla7978]

I am following old tax regime and want to continue the same further.

[@harshasai6660]

@moneypurse Tax calculator lo Meeru standard deduction limit 50,000 pettaru, 75,000 ga marchali

[@kiranvootori8101]

LTCG atleast normal income lo merge chesukune provision ivvalsindi. Retired employees SWP chesukodaniki veeluga undedi.

[@BV_Pavan_Varma]

What is the tax on gulf countries forign remitence tax slab pls answer this question

[@sharmilakolli4869]

Morning nunchi budget buzz nadusthoondhi. Kaani nenu TVlo news choodataniki kooda try cheyyaledhu. Just waiting for your upload in the evening, because you analyse and explain clearly

[@bojjalwarvishwamber9895]

Best budget for all category citizens of our country. My greetings to our union govt in this regard

[@venkatpataballa]

Still using old tax regime, thanks for quick video

[@parthasaradhimachiraju5615]

Basically, person who has investments across most of the deduction sections will have old tax regime only beneficial. New tax regime is for people who have just begun their career or earnings. However, since new regime discourages investments and hence routes to double taxation.

[@sunkusomanath3903]

There is no way to protest about this. More taxes and no services. With the current social media we can make our voice big. Unfortunately i dont know the strategy to fight. Some one should take initiation and should raise the voice very louder.

[@qutyr3769]

I prefer old tax regime. Thanks Anna

[@syedabdullah4967]

Sir on your xl sheet standard deduction section taken only Rs-50000/- , presently it's increased 75000/-

[@sreekanthvempati1757]

Ultimately Government discuraging the savings and investments, and indirectly encouraging the inflation!

[@UttarandhraTV]

Super explain sir, thankyou so much

[@yuvakrisshnaah]

Thanks sai garu,I really hurted after seeing the Budget 😢

[@venkatapraveenjannu4868]

Excel calculator is good, but please use lighter colours.

[@pandrajuanandaraju6942]

As per ur calculator old tax regim 182708..n new tax new regime.. 168189..I AM BENEFITTED WITH 14520 approximately..much which tallies with my personal calculation..so ur calculator exactly working.. Thsnkyou

[@PenchShar]

Old tax regime is beneficial

[@rakeshlingam]

I am using new tax regime for the past three years

[@mohammadmohsin8428]

Have already used old, As it is quite benefit compare to new Sai garu.

[@madhuj2999]

సార్ రియల్ ఎస్టేట్ ఇన్కమ్ మరియు టాక్స్ స్లాబ్స్ గురించి కొంచెం చెప్పండి, మరియు రియల్ ఎస్టేట్ ఇన్కమ్ వేరే ఇన్కమ్ లో కంబైన్డ్ చేసి టాక్స్ ఫైల్ చేసే విధానం గురించి చెప్పండి

[@venkatanagaamarboggavarapu8985]

Earlier: Old Tax regime; Going forward also: Old Tax regime. Madam gari budget valla no advantage. Ekkuva tax pay cheyali related to Equity Investments😢

[@mallikarjunaraoarava]

I have filed ITR under the Old tax regime

[@t.v.csekhar3514]

Thanks anna for providing calculator in this short period

[@vinodhkumar9003]

Banks lo nunchi yekkuva money stock market loki move avuthundhi - mutual funds, stocks or FnO dhvara.. mutual funds ki move ayye amount yetu yekkuvaga aapaleru so STCG dhvara konchem aina aapithey better anukunnaru.. andhukae ilanti steps theeskunnaru andhukae Real estate lo kuda indexation benefit theesesaru.. may be ee reasons valana ila chesaremo anukuntunna

[@atkuriraghavendra5474]

Hello Sai garu.. I am using Old Tax and No Benifit using New Tax Regime

[@bhaskaraprasad2015]

Hi, good evening everybody, I am using old tax regime.

[@srikanthrocksu]

Hello Sir, For Ap central government Announced 15000 cores through multilateral agencies in Today's central budget. Can you make one video on this by giving clarity is it det or grant. Thank you

[@bhagathmuggu854]

Excel sheet lo new regime before July ledu only 2 tax ( old, new after july) chupistundi

[@sudhakarm1661]

Thanks for the efforts.. Can you please add the LTCG, STCG in the Excel.

[@venkateswarluroyyala4539]

Sai garu, gòod evening. Iam using old tax regime. Thank you for your tax anylysis

[@mrohanreddy82]

Sir There is a mistake in ur Excel Sheet Standard Deduction upto 50k is in old and 75k in new but in Your Sheet it's fixed of 50k standard deduction for both old and new Tax... Where u need to add tha standard deduction formula in new and old tax table but u Added in Main Table ! Hope U find this Comment and Crrt it

[@maheshpreethi]

Hello Sai Garu, I feel there's some error in New Tax regime calculator. Let say if a person income is 16L then - the tax should be calculated on 15.25L (after deducting standard deduction of 75k). But the calculator taking whole 16L for calculation. Please check - i'm happy to be corrected. Note: I have not checked old tax regime.

[@phanikrishna3120]

Good evening Anna Thank you MP team All is well to all ❤

[@MoneyPurse]

Most welcome

[@ravishankerjosyula5705]

Old Tax regime and I got benefitted.

[@divyateja3079]

Thank u so much for Ur vedios anna...Im a house wife want to learn to something Ur financial knowledge helping me to build small profits which is giving me so much positive vibes thanku

[@MoneyPurse]

All the best

[@krishna.fit.master]

Anna dividend income medha eatha percentage tax paduthudii chapadiii please

[@srkrputti]

First of all, don't beg to ask to subscribe. If the person is genuine using this site advantaged, they need to subscribe... otherwise, they are not human being ...because for your team effort

[@mmuralivarma111]

I think on standard deduction new regime it's 75000 and old regime 50000 only can you give some clarity on that and if required please update the excel it will helpful. Thank you team

[@asanjeevak]

I also observed this

[@suresh85nit]

Thank you Sai Garu. It would have been more clear if you provide option to input Employer NPS for new tax regime. Thanks.

[@jonnalagadda1850]

Thank you, sir. I choose the old ..

[@prabhakarvardhan8832]

I am using old tax slab till now

[@shabareeshetta9850]

I am using New tax regime

[@venkatpatnam2866]

Superb.. your efforts are really very very valuable...from karnataka❤

[@krishnajaya6599]

I'm also opted for old tax regime. But new tax regime ki exemptions add cheste middle class vallaki chala use avutundi..

[@casanjithkotni725]

Apudu adi old tax regimr aypoddi😂

[@Sadhvika248]

ఇప్పటి వరకు Old tax resume but ఇప్పుడు New Tax Resume better అనుకుంటున్నాను.

[@jamisowji4613]

🎉im using old tax regime

[@ncvenugopal8742]

How is the new tax regime helping sec 80c, 80d, home loan, 80e etc...are the investments for these sections will be of any use

[@pranaypatla461]

Hi sai garu, okavela mutual funds lo invest chesthe capital gains emina impact untada please make a video on that, in mutual fund people hold it long term how does it effct

[@prasadeee0232]

NPS Employer deduction missing/not considered in the Excel

[@bennayyanaidu317]

Thanks Sai garu Chala fast ga tax details share chesaru

[@Purushotham2109]

I benefited around 16,000 with a new slab in the new tax regime But my brother and father got zero benefits because they are using an old regime with home loan

[@keerthideepu1684]

Thank you so much Sai gaaru and team..

[@chinnivenkataramesh4636]

I am using old tax regime

[@ikishorebabu]

Hi MP Team, Thansk a lot for this excel but I can not see the table TAX CALCULATION AS PER NEW TAX REGIME BEFORE JULY 2024..please check once.

[@sowjib4576]

Thanks for quick video with calculator 👏👏

[@narasimharaouppala2804]

for me New regime and for my wife old regime are beneficial