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Different between old and new tax regime

Software Developer

Different between old and new tax regime- Grapevine

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OLD vs NEW TAX REGIME

Chartered Accountant

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For a salaried employee ranging from 10 lpa to 17 lpa, which tax regime would you suggest for? Old vs. New?

Old vs New tax regime

Product Owner

Which tax regime best for 20LPA salary?

Product Manager

Which regime is best 

New 

Old

I have a House loan only...

Tax Regime

UX/UI Designer

Guys my ctc is 8.5 LPA could you please suggest which tax regime is best.. Assume I won't be taking any tax deductions.

Which regime is best best?

Consultant

I'm working in infy with a salary of 13.6 LPA and no investments.

Which tax regime is better

Old / New tax, Which regime is better

Which is better old or new tax regime if falling in the 30 % tax bracket?

Old regime vs new regime?

Software Engineer

Welcome to News Discussion's Private Community

Inspite of so many "better than earlier govts" reforms in the last 10 years...the govt hasnt done much needed reforms in the income tax regime.

The govt is doing a few good things like dissolving inept psu's, selling off entities like Air India (privatisation), etc.
But when and how  are we going to increase the tax base?? Why is govt failing to do so? It is high time we rationalise it. We cannot dream of becoming a prosperous country with such poor policies in place

https://timesofindia.indiatimes.com/pay-income-tax-be-political-orphans-why-it-matters-for-indias-economy/articleshow/107405605.cms

Inept income tax dept

Hey, I'm a fresh college passout working for a startup and I gotta do taxes now(how fun). 
The organization is making me choose between the old tax regime(2022) and the new tax regime(2023).

 My in hand is 9LPA. 

Which tax regime should I choose?

Tax regime advice for fresher

Folks, this is for my parents. Let’s suppose we have huge amount in FD, and want to divert some portion of that to any place other than FD, from Tax saving perspective, what is the Best avenue? Please note that it is hard earned retirement money, risk appetite will be a moderate. What all are best lump-sum investment ways? Index Funds? Actively managed Mutual Funds? Anything else?

Best place to park 25 lakhs for Pensioned Employee?

Seems like since last year the focus of government has shifted from actually making beneficial policies to enable innovation and growth of India to just collecting taxes blindly. 

They just want to harvest tax in as many ways possible and kill the middle class person.

First it was crypto. 

Then us salaried individuals started receiving notices. 

Then they levied 28% GST on online gaming. 

Now they are also checking proofs for HRA allowance and other stupid stuff which wasn't done before. 

I was wondering why there is a sudden increase in such incidents? Is the government hiding something? Are they running out of money?

Or are they just smoking weed just like us and making stupid rules?

Nirmala tai is looting us

This government’s primary intention is to collect more and more taxes in whatever mean’s possible. They don’t give a f**k about anything. And then will brag every month/quarter about record GST collection! This government is pathetic to say the least! No accountability and arrogance is at its peak. We have come to a point where we can’t even question the government otherwise you will be termed as anti national.

Hi, I have recently graduated and now I'm going to start my career as a software developer. Can you suggest me with resources  for managing finances along with taxes and how to do investments or guide me how I can manage my expenses by giving some tips?
 
My base is around 14Lpa. 
My rent is around 25kpm. And monthly necessary expenditure of around 15kpm.
I am not that well-versed with taxes also. I'm learning about them. Currently I invest 3k in MF every month.
I would like to your suggestions and advises for the same.

Personal Finance Tips for fresher

Congratulations - you're off to a great start! Thats a tidy income to start off with. 
  
 My advise, cut out all the noise and random friendly advise from all and sundry and keep it really really simple till you hit a 50L investment corpus. 
  
 0. Buy a Term Insurance (vanilla, no riders) for 2 Cr. Annual Premium. Till 65 years of age.  
 0. Buy a Health Insurance cover for 10L.  Annual Premium. 
 0. If your parents aren't insured, buy a family floater cover for them now.  15L. Annual Premium.  This may become impossible as they age. 
 1. Start a monthly SIP in a single Nifty50 Index Fund (UTI : HDFC / ICICI / Nippon / doesn't matter).  From your data I'd say put in ~40K per month. 
 2. Start a PPF account and maximise annual investment - 1.5L pa.  
 3.  Invest all bonuses / increase in salary in the same Index Fund.   
  
 Watch the magic of compounding begin.  You'll see the impact of laying this foundation only post 20 yrs.  
  
 If your salary (and as a result your SIP) doesn't change, you should hit 50L in ~7 years.  Faster if you get good salary hikes and appraisals. 
  
 When you hit 50L, diversify into other asset classes (SGB + Flexicap MF + Real Estate for own use).  Do not create clutter by adding MFs and complicate life.  Keep investments simple as you scale: 
  
 30% - Index Fund 
 30% - Flexicap 
 20% - Gold (demat) 
 20% - Debt (EPF/PPF) 
  
 Rebalance asset allocation annually. 
  
 Never invest or choose instruments for tax planning. Tax optimisation leads to suboptimal instrument choices with your money (Insurance / Debt / etc). 
  
 Suggested Reading: Let's Talk Money, Monika Halan.  Easiest book to understand and follow.  
  
 Good luck!

Sales Manager

Hey folks,
I opted for the new tax regime when my CTC hardly touched the tax bracket. 
Now I earn 22LPA and my heart almost collapes after seeing the tax paid. 
2 ques: 
-Is it possible to move to the old scheme to save taxes?
- Given my salary, what are the best avenues to save tax?
Thanks 🙏

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