COMPLETE Tax Planning for Salaried Individuals! | Ankur Warikoo Hindi
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- Опубликовано: 6 авг 2024
- It’s tragic how few people do not take tax benefits on their income, and end up paying much more. I don’t want you to let your free money go to tax, when you have thought-through tax benefit options.
In this video, we will have an understanding of all those, and also taxes on them when they mature.
Check out all these options on PolicyBazaar here: bit.ly/3IMPwhr
Check out the notes to this video here: bit.ly/3KFJqAU
Here are my former videos on taxes, that could be of help to you:
Income Tax Saving Tips: • Top Income Tax Saving ...
Brokerage and Tax on stocks: • Brokerage and Tax on S...
Tax on stock market investing: • TAX on Stock Market an...
00:00 Introduction
01:38 Direct Taxes
02:20 Indirect Taxes
03:52 Income Taxes
04:25 Old Tax Regime
05:33 New Tax Regime
06:30 Income Tax Rates
08:50 Planning for your Taxes
16:38 Taxes on Investments
17:00 Taxes on Fixed Deposit
18:55 Capital Gain Tax
21:20 Government Revenue
#TaxSaving #Warikoo #PersonalFinance
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Check out all these options on PolicyBazaar here: bit.ly/3IMPwhr
Check out the notes to this video here: bit.ly/3KFJqAU
GST
Corporate tax
Please make video on tyke invest
GST
GST
GST for sure… have learned quite a lot about finance from RUclips this past year. Kudos to content creators like you 😀
GST
Hi, I too want to learn about finance from the youtube. Right now, I just know Ankur's channel. Can you recommend me some other channels as well which I should watch to get a good knowledge of Finance?
@@hitanshusharma1927 you can watch Akshat Shrivastava, CA Rachna Phadke Ranade, Parimal Ade, Yadnya Investment Academy, Asset Yogi and there are others as well. You can follow finshots as well.
@@vipulkumar9514 Thanks. I didn't know any of them. But now I do. :)
Started following all of them.
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $483k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
Wow, that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
I don't know why but you are like that Senior guardian who cares about their young ones. God Bless you Sir. I would be sharing your videos in my network because they are simply so awesome.
I can't begin to thank you enough Ankur. I'm an ex entrepreneur and I haven't had a steady income (virtually zero) for many years. I just started a new job and I'm very keen on planning and building up a sustainable financial life. These types of videos help so much! My answer to the question at @2:55 is GST.
I think the answer would be GST because it's on almost all services that we avail and everyone (salaried, non salaried, below poverty line) has to indirectly pay them.
Ig it's GST coz every one pays it
I made 2 page notes after watching this video , I was so unaware of taxes and use to run away from the tax paradigm .Thank you so much for such explaining in such easy way.💯💯
Thank you for making these things easy for us to understand. Usually, these are Greek & Latin for me but at least now I can begin to understand. Grateful for your videos! :) :)
3:16 As A CMA aspirant, I can confidently say that Biggest source of income for Government is GST as it is Levied on consumption and each and every person has to bear GST no matter if salaried or not or whatever is your income is..on consumption you have to pay GST. Like last year in December around 1 lakh crores of GST is paid to the government.
Now I have completely understood the whole concept of tax after watching this video. Thank you 👍😃
No you didn't
Very a very informative video. this man always comes up with a great topic. ❤❤❤❤
thank you very much Sir for giving this detailed information!
You've been a role model to the entire Indian you and motivating everyone to keep doing epic shit!
Obviously GST is the biggest revenue source for the Govt. because it implies on nearly all goods whereas IT is paid by a less amount of the population.
Thanks for the video, especially the market linked investment part, I surely would suggest this plan to my father as it will save a lot of money at maturation.
I was first confused between Corporate Taxes and GST but then I answered GST because it comes under Indirect Taxes and it is applicable to nearly everything we purchase so GST would easily be the best source of income for the government.
Gst is the right answer sir ..
Wow.. I wonder that we can save alot by investing in market -linked schemes ..
Great learning from a great teacher 🥰🥰🥰
Ankur sir i stopped at 3:44 and i think GST is the largest taxable income of Government because it implies on all goods by the way i love your personal finance videos keep making and motivating us for investing thank you 😊😊😊
💖💖💖
The Indian government's main source of income is from Goods and Services Tax (GST) and income tax. Both forms constitute nearly 90% of the government's total tax collection. In 2021-22, GST contributed over 57% to the total tax collection
For the 1st time, i understood it so well... thank you sir 😀😀
Hi Sir, as always great video
Thank you so much.
Just one request/suggestion - if possible could you remove that popup sound from videos when cards or titles show up on video.
That beep kind of sound distracts attention from content.
If many like this format then it's fine.
I just thought to give my view.
Thanks
Being a CA student I already knew all of this but I watched the whole video just to hear ankur sir 😌😁🔥... And yes GST is the biggest source of income for government
Same here😅
I already knew most of these things at the age of 24 and even when i am earning nothing, but i came to know most of these things because of your financial knowledge video so thank you so much sir keep educating us. 🤘
Why earning nothing? u are 24!!
Focus on earning, that will take care of taxes
GST is the major source of Income for govt
Hi, Ankur Sir,great content again. Thanks but can you create a video on tax planning .
How much one should put in ELSS, then health insurance amt and how to save them month by month basis.
That would be great
Humans are born and will die some day but not all fully utilises the already defined time period in between effectively. And some people like yourself have made the most out of it and even bring hope to this world of power dynamics that progress and responsible free will can win in the end for those who seek. Ankur you are one of the shining stars of the modern world. Thank you.
Taxes were very complicated issue. Thanks for your detailed explanation. I'm actually doing a job in an Accounting firm it will definitely help me in mine work. Jai Hind 🙏
@UCSSq8tlhbV7bC14ceyJSNmQ bilkul sahi bola. Ye 5 min may pura video dekh lea
Ofcourse, it should be GST. I believe the domestic consumption over goods and service should be much greater when compared to income tax/corporate tax. Maybe a few years back, before introduction of GST, this could have been corporate tax. But as of today, yes the major national income should be GST.
GST must be the major revenue source for the govt as it is paid by almost the whole of the general population as and when they consume goods. Corporate and Income tax on the other hand are also huge revenue sources but since the population percentage that fall into this category is far less may not be as significant as the total revenue earned via GST. The best analogy of the amount collected from GST that comes to mind is that 'Little droplets of water make a mighty ocean'
This video notes thing is so useful.....
The video was a great clarification on taxation, however one point of concern is:
The products you explained on policybazaar are ULIPs, and in budget of 2021 it is declared that the ULIPs will be taxed just like mutual funds if the premiums paid are in excess of 2.5L. Best is to separate term assurance/maturity assurance policies and investments separate.
Just wanted to clarify this.
If tax rebate is 1.5 lakh in ELSS why will one pay premium more than 2.5 lakhs in a year?
Can you explain more on ulips if they provide 13% return and then I don't need to pay any taxes when I redeem if I invest less than 1.5 lakh each year? Also what is locking period in ulips?
GST is their biggest revenue, i got literally no idea, learning about taxes for the first time. Still in my schooling and I'm learning a lot from your videos. Tysm for making RUclips experience so much more better!!
@warikoo Very nice video Ankur, really helpful
Feedback appreciated🤝🏽
kindly reach out to the what’sapp line above for consultation and investment purposes.
U have opened the mind
Obliviously GST, have you seen the GST collection data for every month last year you will come to know. Also the plans of Govt. is to increase it. We will come to know about changes in few days as this years Budget is around the corner. Very useful video Ankur bhai.
Option 3: GST
As Income Tax payable on Net Value,whereas GST is levied on Gross Amount, payment made by Big Company now automatically reflect to their Common Portal,also if Person does Fraud then their is Imprisonment not any Fines or Fees.
The Highest Revenue source for the Govt. is GST..!! Income Tax used to be the highest source, but now it's GST.
The answer is GST, since almost every product has GST attached to it and everyone has to pay for it, be it a salaried person or a school student.
Hey Ankur, Aren't the returns from investment under section 80C taxable?
You said in your video about investing 1.2lakh per year and the return after 10,20 years is tax free!?
GST looks like a major revenue for govt because it applies on almost all goods (commodities) and services as well. Though, Income and corporate tax is also huge -but people still have options to save a bit on it and it applies on employed mass only. So GST( or earlier VAT+ service tax ) should be major revenue.
I was expecting more on tax saving schemes, like I wanted a comparison between ELSS and market linked policies . I thought you will give more input on PF and voluntary PF, which is also coming under section 80. Again I was hoping you will give input whether we should invest in NPS or not for tax saving. After 1.5 lakh saving, what else we can save ? Can I save in sukanya samridhi if I have a girl child or I will invest somewhere else for her future. I know you are not a fan of buying house, but in case I buy house how much I can save in income tax? There are many things which atleast needed to be touched in this video to explain all about tax planning. It just felt like advertising policy Bazaar. I am a die hard fan of yours. So may be my expectations are high. But I know you will fulfill it soon.
Same here, I actually wanted to know more about NPS, is it worth saving tax through NPS
Consult a CA 😎
@@snehaa381 If consulting CA helps then we shouldn’t be watching Ankur. He is a kind of teacher who can teach anything to anyone. So expecting from ankur.
There are videos on NPS and PPF also...
Yes u can invest in sukanya samridhi yojna to save tax
There is additional deduction if you buy a house by taking a loan. The principle component can be claimed under 80c upto 1.5 lakhs while an additional 2 lakhs can be claimed under section 21 on the interest part.
I'm great full for earning knowledge day by day also hopefull for applying this asap
havent told that capital gain is again subjected to personal tax rates..still needs a part 2
Sir, considering the population of our country, I have a feeling that GST should be the biggest source of revenue for the government .
Regards Abhishek
Probably GST could be the right answer since it's applicable on most of the goods and services. Also, not many people fall under a high tax bracket and those who do fall in the tax bracket usually find legal means to not pay the same with help of CA, so Income Tax couldn't be the answer, and corporates always try to reduce they taxes by simply showing all the expenses as company's expense and by other means like investments hence Corporate Tax isn't the right one.
Gst
I was not aware of your channel until I bought your book "Do Epic Shit" while a train journey. Without knowing You I bought the book (seeing the overall content), loved the book, learnt and then started following your social media platform
Can you make a video on new budget 2022 and guide us more about crypto over it and should we continue it or is it the end of crypto ( love your video ♥️)
Would have been great if PPF, EPF, ELSS, NPS, etc. were also covered in the video. But maybe PolicyBazaar's endorsement was more important.
Covered in different videos
Thug life
Obsiously GST. Because GST is a tax on goods and services sold domestically for consumption. The tax is included in the final price and paid by consumers at point of sale and passed to the government by the seller.
Good explained.
Nice...
Very nice explaination
GST it is!....I love your channel sir just a question since you mentioned about the taxes on investments on longggg term and short term taxes, if I invest in smallcases due to rebalancing within a year it still means some of the stocks maybe sold or brought how would I determine the tax on that then?
I have a query, How do we decide the tax slab we fall into?
For example: My net taxable income after exemptions (HRA - 40% of basic + Conveyance allowance - ₹19,200) and deductions is ₹5,15,000.
Method 1:
1. 0 - ₹2,50,000 - 0% (First ₹2,50,000)
2. ₹2,50,001 - ₹3,00,000 - 5% (₹49,999) = ₹2,499.95
3. ₹3,00,001 - ₹5,00,000 - 5% (₹1,99,999) = ₹9,999.95
4. ₹5,00,001 - ₹10,00,000 - 20%(₹15,002) = ₹3,000.4
Tax to be paid = ₹2,499.95 + ₹9,999.95 + ₹3,000.4 = ₹15,500.3
Total tax after tax rebate of ₹12,500 = ₹15,500.3 - ₹12,500 = ₹3000.3
Method 2:
1. 0 - ₹2,50,000 - 0% (First ₹2,50,000)
2. ₹2,50,001 - ₹3,00,000 - 5% (₹2,65,000) = ₹13,250
Tax to be paid = ₹13,250
Total tax after tax rebate of ₹12,500 = ₹13,250 - ₹12,500 = ₹750
Method 3: (Seems pretty illogical because defies the Rebate of ₹12,500 Under section 87A)
As the net taxable income is ₹5,15,000 fall into the slab of ₹5,00,001 - ₹10,00,000 (20%)
Tax to be paid = ₹5,15,000 * 20% = ₹1,03,000
Total tax after tax rebate of ₹12,500 = ₹1,03,000 - ₹12,500 = ₹90,500
Which method is correct? I have always been confused between Method 1 & Method 2.
100% Sure About GST.
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GST has to be the highest income source. Then corporate and then income tax. I'm sure Vat on alcohol, fuel, and import duties also play a major part in revenue to govt.
Amazing video
GST is the right answer as it is the tax which is paid in a comparatively larger number .
BTW thank you sir for all the valuable information that you provide us on all the topics related to finance, I am a 16yr old student who is seeking a lot of knowlegde from you and will be going to start my investing journey soon in the upcoming months. I am extremely happy that I discovered your channel this year . Finally I ensure you that i wont be investing in FDs :)
There are platform where you can invest and they trade your money. Then pay you profit either weekly or monthly. That's investing.
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Could you please create a video on how to file ITR, starting from very basic.
I ❤ the way YOU explain
Hey Ankur! Thanks a lot for everything you share! Cheers!!
I've a question, if the salary has changed in the middle of the year. Let's say salary is 10L on April, to Sept and Salary got hiked to 15L starting from October to March. How does the tax calculation works then? Can you please shed some light on that.
The employer deducts the TDS accordingly. Tax is calculated on the gross salary (including income from other sources, etc) for the entire financial year. At the time of filing your tax returns, you may be liable to pay tax beyond the TDS or could get refunded if excess tax has been deducted by your employer or if you made some investments and have claimed deductions for the same u/ different sections in the old tax regime.
Hello Ankur Sir, your taxes videos are really informative, also request you if you could provide some information regarding income, if we are based in India and we are getting income from USA company, then how much tax we need to pay in India ? or what the way to handle this ? thanks for your help.
Wow the investment guru is sponsoring ulip without taking the name. Icici must be very proud.
Gst ... you are amazing sirrrrrrrrrrr
Feedback appreciated♥️
kindly reach out to the what’sapp line above for consultation and investment purposes.
GST for sure sir..... Thank you so much for such amazing informative videos :)
please make a video comparing exemption 1.5 lakh with paying tax on 1.5 lakh and investing in equity compare in excel
important question sir.
I don't come under any tax slab. Should I pay taxes on my short and long term capital gain? Is it exempted for 2.5 lakh Or i have to pay from beginning?
Cloud you please make a video on how we can buy Mutual funds and set up automatic payments in Coin App
it was really confusing for me. It will beneficial for many people like me.
As someone said this video stopped before even boiling started. Lot of questions ELSS vs Market linked and many shouldve been covered
@AnkurW.
What you have personally invested to save 1.5 Lakh?
Quick question
Is there any limit like below 1L or something for which taxes will not be deducted for short term gain tax on stocks??
@warikoo sir, if you re-invest the fixed deposit after maturity, Is the tax-payer liable to pay tax on the interest earned? given that the interest too has gone back to fixed deposit!
Those market linked plans you have shown are part of ULIPS right ? I have read somewhere that even returns on ULIPS are taxable from Feb 2021.
Please confirm
GST i think ... ankur sir i am replying after finishing the 16:49 min of the video honestly telling u because I think this video will benefit a lot of PPL ... Due to my parents i learnt tax calculation at the beginning of my career but just like u said a lot of my friends and juniors they were never enlightened about the benefits of tax saving and at the end of the year it used to pain me when I helped them how to file Their returns that they never saved anything under 80C or 80D ..many times PPL give excuses but we can at least have a target to save 10k from the time we r comfortable with our salary so that it will help us in long term. When i started my job FD used to give 10%return but I didn't have much money to fix So i concentrated on ppf at that time now we have so many options to save our taxes like nps, sip , ppf, premiums etc medical insurance premium
Sir , please also make video on dividend tax. How to fill 15G form.
So return on ELSS are completely tax free? or only return on these market linked Mutual funds are free?
Will I have to pay tax to the Indian government or to Thailand government If I am working in Thailand ?
Hi Ankur,
Thanks for this amazing video! I have one question on claiming HRA exemption. Can I claim it if the rental location is different from my work location. For example: My work location is BLR and I'm paying rent for a place in HYD.
Yes. There is no such condition.
It's GST as it is like compounding effect which makes up a large amount even though we don't realise it in real life
Do I have to pay tax on capital gains as flat 10% or do I have to consider my salaried income as well?
@warikoo can you please help me in more short doubt "All Plans provide tax benefit upto ₹46,800 under Section 80C & No Tax on Returns* " does it means I will be only able to take benefits upto 46800 not 1.5l?
I will opt for GST as the largest source of revenue for GOI.
GST - because at the end of the goods and services se hi company earn krti or individual bhii .
Thats why TAX on goods and services will be Highest contributor of Government Taxation Collection.
My annual income is 5.4 lakhs, can it be considered 4.9 lakhs after subtracting standard deduction(50k) and pay no tax..or do i need to invest/buy insurance to save tax?
STCG pe kitten profits per ITR file karna necessary hota hai ?
Mr. Warikoo it's obviously GST. We have learnt it from you only ❤️
I think GST sabse bada component h of government's income because GST is levied in almost every product/service which should be a huge number given our huge imports, exports and GDP
Can someone tell if warikoo sir is talking about buying ELSS schemes of mutual fund through policy bazar in first half to save direct tax or the plans are something else ?
Sir g.. I'm a big fan of you. But this video was a little disappointment for me for below mentioned reasons/uncovered options:
1. Insurance plans like ULIP have higher allocation charges & it's purely because of the current market bull Run that the returns are looking very attractive. On a personal front I prefer to keep my insurance and investment seperate & it's Only when I opt for 10 times cover in my insurance premium I get the benefit of 10(10)d.
2. Interest part on home loan also gives a seperate deduction apart from 80C
3. Political party donations is one aspect where you can save a lot...
It is GST just because everyone pays indirect taxes but this is not in the case of direct taxes
Sir LTCG on stock per share hota hai ya overall.. matlab 3 stock mein nivesh kya 3no pe 1 lakh each profit hai to kya ye 1 lakh pe 0% benefit sirf ek hi stock pe milegi ya 3no company pe.
Hi Ankur Sir, I think GST and Income tax are two big sources of income for the government.
Kindly make a video on "Taxes planning for sole proprietor ".
For sure it will be GST sir. The GST collection is also one of the important macro economic factor.
Sir what will be the best option to park our emergency fund.
My question about tax on capital gain when selling stocks from demat account that how taxation work for STCG and LTCG ???
Selling stocks within demat account make it taxable or when you book profit in my bank account makes it taxable. ?
Answer it Ankur.. please..😊
Hello Ankur Ji, I think GST is the answer which you asked in between the video.Thanks :)
Sir jyo modhiiji ne corona kaal me 20 lakha carodo ka fund uthaya tha kya??? uska tax ka boza amm adami ko bhuhatana padata he......
Sir, if i have opened DMAT account in May 2022, and buy some share from NIFTY 50, but don't sell any share in financial year 2022. Then, which ITR i have to file, ITR 1 or ITR 2 in the next financial year? (I am filing ITR 1 since 2020, since I'm salaried person.)
Shandar sir ji
Feedback appreciated🤝🏽
kindly reach out to the what’sapp line above for consultation and investment purposes.
GST : Goods and Service Tax . Since it's applicable on the most of purchases. (28٪)
GST will be having the highest percentage considering the combination of market size and degree of tax percentage
Sir ji 1 video youtubers and app devlopers k taxes k upar lagne wale taxes pe 1 video
I have a bit confusion , what if we calculate total tax jo year end mai cut hoga annual income pe then according to that amount we plan our deduction which matches that amount. But still our remain income is falls under slab ranges , in that case still we have to pay tax? is this the right way? or we just have to lower down our taxable income so that we dont have to pay any tax? which is the right way?😅