Discover and read the best of Twitter Threads about #newtaxregime

Most recents (6)

💡5 Points to consider before switching to new tax regime -

..🧵

Retweet for max reach ♻️
#tax #newtaxregime #taxsaving
🪙Business income will mean additional compliances

Tax laws consider trading in derivatives and commodities, freelance work, income from YouTube or any other content publishing platform, among others, as business income. So if you are a salaried taxpayer who also has
a business… twitter.com/i/web/status/1…
🪙 Home loan deduction only if
property rented out

Under the new tax regime, a deduction for interest paid on housing loan can be claimed only
if the said house for which the
loan has been taken is rented out.

Also, this deduction is limited to the amount of rent, and if you… twitter.com/i/web/status/1…
Read 6 tweets
Old or new?

Which tax regime is better after Budget 2023-24.

Read the thread to know more ⬇️

#BudgetSession #Budget2023
1/

Prominent changes in the new tax regime (image) ⬇️
2/

If your annual income is up to Rs 7 lakh-

Under new tax regime: No tax
Under the old tax regime: No tax.

But, you'd have to claim standard deduction of Rs 50,000 and 80C benefit of Rs 1.5 lakh.
Read 8 tweets
The side-effects of Budget 2023.

A column by @dhirendra_vr

Check out the thread to read more 🧵⬇️
1/

The country is moving towards the new tax regime, but removing incentives to invest is a most unfortunate side-effect.
2/

It’s true that the new tax regime has lower rates and drastically few exemptions, which is better in theory and practice.

But it can impact people's savings and investment habits.
Read 6 tweets
#newtaxregime - good or bad?
The debate has just begun.
Firstly, no sensible person saves or invests to avoid taxes.
We do it because we know we need to.
It's for our own good.
By investing a part of our income, we ensure we have enough money when our income stops or reduces.1/n
When we invest for our future, we need to have a plan.

We need to have measurement.

We need flexibility.

We need to practice a blended approach.

When one studies what people did with their tax savings, it will be amply clear their investing lacked on these critical needs. 2/n
Here are some glaring blunders.
Firstly, look at insurance.
Most people were missold insurance.
Yet they ended up being under insured.
People bought 50k worth of insurance policies.
Yet, they weren't even insured for 1 cr .

They saved taxes. But, still were exposed to risks. 3/n
Read 8 tweets
Here are few Explainer videos for you on latest changes in the budget having an impact on all of us.
Enjoy and Please retweet #newtaxregime #Budget2023
Calculation of Tax with and Without Rebate under New Tax Regime. #newtaxregime #Budget2023
1% Tax only. Turnover ₹ 3,00,00,000. Tax only ₹ 2,49,000. This is possible now. Retweet Maximum.
#newtaxregime #Budget2023

Read 5 tweets
We're breaking #Budget2023 down for you.

Sit back, relax, and have a great read! 👇
#AskKamra
1.

Infra gets boost:

- Highest ever capital outlay of Rs. 2.40 lakh crores for Railways

- 50-year interest-free loans to states one more year for infra spends
2.

Agri & Fisheries to benefit:

- Agricultural accelerator fund to promote agri-startups

- 10,000 bio-input resource centres in next 3 yrs to promote natural farming

- 6000 Cr outlay for Animal husbandry, dairy, and fisheries
Read 28 tweets

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