New Tax Regime vs Old Tax Regime 2024 | Calculate income tax under both regimes with tax calculator
Автор: CA Kshama Chudiwal
Загружено: 2024-06-21
Просмотров: 291
Описание:
Link to income tax website - https://www.incometax.gov.in
https://eportal.incometax.gov.in/iec/...
Selecting the right tax regime can save you money and simplify your tax filing process. Whether you're a salaried employee, a business owner, or a freelancer, this guide will provide you with all the information you need to make the best choice for your tax planning.
With the ITR filing deadline approaching on July 31, many taxpayers struggle to choose between the old and new tax regimes. In this video step by step guide is provided on how taxpayers can quickly choose between the new tax regime vs old tax regime when filing their income tax returns using the income tax calculators basic or advance, without the need for knowing the tax slabs.
and towards the end you will find details on how to compute your tax liability using an income tax calculator.
Old Tax Regime - Better for those who can make use of the various deductions and exemptions and don't mind the complexity involved or lock their money into long-term investments just to save on taxes
New Tax Regime: Suitable for those who prefer simplicity and lower tax rates without the need for extensive tax planning.
#newtaxregime #oldtaxregime #taxregime #taxplanning #incometaxcalculation
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