Income tax saving tips and tax planning guide for 2024. New Tax Regime vs Old Tax Regime: Which is better from a tax-saving point of view for each salary bracket?
With an easy to use Tax Calculator, you can calculate income tax and increase tax savings in different salary brackets. We’ll cover deductions under Sections 80C and 80D, HRA exemptions, LTA claims, Section 24 deductions and a lot more.
0:00 Intro 0:36 Pay ₹0 Tax on Salary Income 01:19 Which Tax Regime is better? 03:20 How to get Maximum Deductions? 03:25 Tax Deductions in Old Regime 04:05 EPF 05:18 HRA 06:43 Children’s Education Allowance 07:04 LTA 07:39 Reimbursements 08:09 Standard Deduction 08:21 Deduction under Sec-24 09:55 Deductions under Sec-80C 14:07 Taxable Income 17:13 New Tax Slabs 17:52 Deductions in /New Regime 20:24 Important Tips
About the Video
The government has announced new income tax slab rates and a new tax regime has altered the calculation of income taxes. We all want to save in tax but most people don’t know about tax-saving investments, deductions and exemptions available to them. We either hire a tax expert for tax planning or do it ourselves. Our detailed Excel calculations will help you understand how to make the most of various tax-saving options, including Section 80C deductions on investments, HRA exemptions, LTA claims, and Section 24 house property loss deductions. Learn how to leverage Section 80D benefits, explore the nuances of education loan tax exemptions under Section 80E, and gain insights on switching between the old and new tax regimes. Whether you're a salaried individual or a business owner, this video will equip you with the knowledge to make informed decisions that optimize your tax savings every financial year. 1. In this video, we’ll cover the following concepts: 2. New tax regime vs old tax regime. 3. Which tax regime is better for saving income tax? 4. Income Tax Saving Tips 5. How to maximize tax savings for salary income? 6. What are the tax saving options under the new tax regime? 7. Best tax saving options under old and new regimes? 8. What are the new tax slab rates? 9. Effective tax planning tips for 2024 10. How to plan taxes for salary income? 11. Is the new tax slab more beneficial? 12. How to save more tax on salary? 13. Tax planning guide for individuals. 14. Tax savings with joint home loan
