ITR Filing: फाइनेंशियल ईयर( FY24-25) खत्म होने वाला है. ऐसे में टैक्सपेयर्स के टैक्स बचाने और प्लानिंग की कवायद शुरू हो जाती है. आप भी टैक्स में अपने लाखों रुपए बचा सकते हैं. कैसे? देखिए GoodReturns की Editor Bhawna और Tax Expert Sharad Kohli के साथ स्पेशल एपिसोड. इस एपिसोड में आपको मिलेंगे इन सवालों के जवाब-
क्या FY 24 में 12 लाख तक की इनकम पर टैक्स-फ्री का फायदा मिलेगा?
Old Tax Regime और New Tax Regime में पैसा कैसे बचाएं?
Tax Saving के लिए कहां Investment करें?
80C के तहत कहां निवेश करें?
Tax Harvesting क्या है? कैसे फायदा लें?
Capital Gains पर Tax कैसे बचाएं?
#ITR #IncomeTaxReturn #IncomeTax #Tax #LTA #LeaveTravelAllowance #LTAClaim #goodreturns #businessnews #personalfinance #investment #taxplanning #taxsaving #savetax #ITRFiling #ITRFile #Form16 #NewTaxRegime #OldTaxRegime #CapitalGainTax #LongTermCapitalGain #ShortTermCapitalGain #ShareMarket #TaxSavingTips #FilingITR #ITRFilingFY24 #31March #FinancialYear #CA #TaxExpert #SharadKohli
Also Read
Taxpayers Alert! Last Date To Claim Tax Rebate Under Section 87A; Eligibility, Benefits, And How To Claim? :: https://www.goodreturns.in/personal-finance/taxpayers-alert-last-date-to-claim-tax-rebate-under-section-87a-eligibility-benefits-how-to-claim-1399227.html?ref=DMDesc
Good News For Taxpayers! Now, You Can Claim Tax Rebate Under Section 87A; Eligibility, Benefits, How To Claim? :: https://www.goodreturns.in/personal-finance/good-news-for-taxpayers-you-can-claim-tax-rebate-under-section-87a-eligibility-benefits-how-to-claim-1397147.html?ref=DMDesc
Income Tax Rule Changes In January: Deadline For Filing Belated ITR Extended; Know Penalty, How To File Online :: https://www.goodreturns.in/classroom/income-tax-rule-changes-january-deadline-for-filing-belated-itr-extended-penalty-how-to-file-online-1397133.html?ref=DMDesc
~HT.410~PR.147~ED.70~
क्या FY 24 में 12 लाख तक की इनकम पर टैक्स-फ्री का फायदा मिलेगा?
Old Tax Regime और New Tax Regime में पैसा कैसे बचाएं?
Tax Saving के लिए कहां Investment करें?
80C के तहत कहां निवेश करें?
Tax Harvesting क्या है? कैसे फायदा लें?
Capital Gains पर Tax कैसे बचाएं?
#ITR #IncomeTaxReturn #IncomeTax #Tax #LTA #LeaveTravelAllowance #LTAClaim #goodreturns #businessnews #personalfinance #investment #taxplanning #taxsaving #savetax #ITRFiling #ITRFile #Form16 #NewTaxRegime #OldTaxRegime #CapitalGainTax #LongTermCapitalGain #ShortTermCapitalGain #ShareMarket #TaxSavingTips #FilingITR #ITRFilingFY24 #31March #FinancialYear #CA #TaxExpert #SharadKohli
Also Read
Taxpayers Alert! Last Date To Claim Tax Rebate Under Section 87A; Eligibility, Benefits, And How To Claim? :: https://www.goodreturns.in/personal-finance/taxpayers-alert-last-date-to-claim-tax-rebate-under-section-87a-eligibility-benefits-how-to-claim-1399227.html?ref=DMDesc
Good News For Taxpayers! Now, You Can Claim Tax Rebate Under Section 87A; Eligibility, Benefits, How To Claim? :: https://www.goodreturns.in/personal-finance/good-news-for-taxpayers-you-can-claim-tax-rebate-under-section-87a-eligibility-benefits-how-to-claim-1397147.html?ref=DMDesc
Income Tax Rule Changes In January: Deadline For Filing Belated ITR Extended; Know Penalty, How To File Online :: https://www.goodreturns.in/classroom/income-tax-rule-changes-january-deadline-for-filing-belated-itr-extended-penalty-how-to-file-online-1397133.html?ref=DMDesc
~HT.410~PR.147~ED.70~
Category
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NewsTranscript
00:00Hello and welcome to Gudrutans, your go-to channel for all things business. My name is
00:11Bhavna and today we are joined by Mr. Sharad Kohli, who is a tax expert and economist.
00:17The 31st March is about to come, the financial year is about to close, so it's a perfect
00:23time to discuss tax planning, ITR and other important things that a person or a business
00:29should keep in mind. So, in this episode, we will learn from Mr. Sharad Kohli, what
00:35are the things you need to keep in mind while filing an ITR, what are the common mistakes
00:40that you need to avoid, which ITR is perfect for you, which you need to fill, and many
00:45other things related to ITR and tax that we are going to discuss in this episode with
00:50Mr. Sharad. Mr. Sharad, welcome to Gudrutans and thank you very much.
00:54Mr. Sharad, first of all, a very common question that our viewers have asked us in our last
01:01tax videos. In the Union Budget of 2025, it was announced that the income up to 12 lakhs
01:08has been tax-free, and this happened in the new tax regime. So, this announcement, this
01:16new income, can it be benefited this year? I mean, can it be benefited in this financial
01:21year? Hello, first of all, I would like to welcome you and all the followers and viewers
01:27of Daily Hunt. Yes, from April 1, 2025, these new rules will be implemented, which came
01:34in the budget, and you can take advantage of these new rules from April 1. But the returns
01:41for the previous year, i.e. 31 March 2025, we all know that they are filed between April
01:48and July. The last date is 31 July, unless the government increases it for some reason.
01:53So, the benefit of this is that from April 1, your tax payable for the next year, i.e.
01:59the tax for the year 2025-26, you can take advantage of the provision of those new budgets.
02:06Keep in mind that some people are thinking that the return that will be filed now, we
02:10can take advantage of the new rebate of up to 12 lakhs in 87A. This is not the case.
02:16By 31 March 2025, which was of the previous year, i.e. in the new regime, which you know
02:21is up to 7 lakhs, and the old regime is also going on, the new regime is also going on,
02:26the old rules will be implemented. So, you prepare for your return filing of the previous
02:30year. And the tax planning that you have to do from the next year, i.e. from April 1,
02:342025, you will do your tax planning. Suppose you do a job, then the TDS that you get,
02:40your salary slip will be deducted every month. Everyone knows this. So, the planning of
02:45that TDS, i.e. your TDS will be reduced. If your income is up to 12 lakhs, it will be
02:50completely zero. You will get to see a lot of good news from the April salary slip.
02:55And those who have income from other sources, they will also get to see its benefits.
03:02Sir, if someone wants to shift to the new tax regime from the old tax regime,
03:07what is the time when we can shift? Can we shift now in this financial year,
03:12before 1st March?
03:15Yes, those who like the new regime or like the old one and you have not taken it,
03:22let me tell you its rules. If you have income from the salary, then while filing the
03:27return, you can shift your regime. And even if you have income from the business,
03:32you can shift once. But in the business, it is not allowed to do it again and again.
03:36Once you shift, then you cannot go back to the other regime. Shifting is allowed once.
03:43But the salary person has the benefit that whenever he will file the return,
03:48he can change it at that time. And let me tell you one more thing,
03:52even if your company has deducted tax according to some other regime,
03:57but while filing the return, you can change its regime.
04:02So, this is also beneficial for you that while filing the new or old regime,
04:06when you will file the return, you will see options there.
04:09Whether you want to go to the new regime or the old regime. Not only this,
04:12you can also compare both the regimes.
04:15That is, you put your data in the old regime, in the new regime,
04:18and there is a calculator in the income tax portal.
04:21Through that calculator, you will know which is more beneficial for you.
04:26Is the new regime more beneficial or the old regime?
04:28So, I will advise everyone that those who have doubts that
04:31maybe the old regime is more useful for us and the new regime is more useful for us,
04:35then you can choose your regime accordingly.
04:38You can change it while filing the return.
04:43The end of the financial year is almost here.
04:45So, what are the three tax saving strategies that you would like to share with our viewers
04:50that can be considered at this time?
04:55Tax savings depends on two things.
04:59First, what is your source of income?
05:02You must know that there are five sources.
05:04Salary, business, capital gain, house property, and income from other sources,
05:09which we call residual sources.
05:11So, what is your source of income?
05:13First, it depends on this.
05:14Second, it depends on whether you are in the old regime or the new regime.
05:17Because in the old regime, there are tax saving options.
05:20And everyone must have known by now that in the new regime,
05:23the tax saving options were almost eliminated.
05:28Some are left, like NPS, and some small things are left.
05:33But the purpose of bringing the new regime was that
05:36all the investments, rent payments, and donations were eliminated.
05:45A very simple system has been implemented,
05:47where you just look at your slabs, calculate the tax, and deposit it.
05:54So, if you ask me about the top tax saving schemes in the old regime,
05:57there is still ATC, up to 1.5 lakhs.
05:59Mediclaim, that is, you take medical policy,
06:02insurance, you take advantage of that too, 25,000.
06:04If you are a senior citizen, up to 50,000.
06:06That is still there.
06:07If you donate, you can take advantage of the donation.
06:10Apart from that, whatever section 80, which we call the deductions of chapter 6A,
06:15are all there.
06:16And if you are salaried, then you know that if you take house rent allowance,
06:19HRA gives your company, and you pay rent,
06:22then you can also forgive HRA.
06:25Against rent payment, you show the rent receipt,
06:28show the agreement, it will be forgiven.
06:30So, the top tax saving schemes in the old regime are still there.
06:34And now, Bhavna, the new thing that is coming out,
06:36which I think all the viewers and followers of Daily Hunt should know,
06:40that my own calculation says that now,
06:44when the new financial year will start from 1st April 2025,
06:48I think that about 95% people will go into the new regime.
06:52So, the way of tax planning, which was till now, till 31st March,
06:572-3% people are still in the new regime.
06:59But after 31st March 2025,
07:02from the next year, about 95% will go into the new regime.
07:06So, what I mean to say is that very few people will remain,
07:10who will now remain in the old regime.
07:12So, the options of tax savings will gradually decrease.
07:16The best tax saving option that the government has at this time,
07:20is section 87A rebate, because of which it is Rs. 12 lakh.
07:24Otherwise, the basic exemption limit is Rs. 4 lakh.
07:26I am talking about the new year.
07:27In the old year, it is Rs. 3 lakh.
07:29So, the rebate of 87A, which has been increased,
07:31because of which it has become Rs. 12 lakh,
07:33that is the way of top tax saving.
07:35It applies for all income categories.
07:37Otherwise, if your house property income is there,
07:40then you get a standard deduction of 30%.
07:43You can take that.
07:44If you are a salaried person,
07:45you know that the standard deduction of Rs. 75,000 for salaried people,
07:49is still there.
07:50It is in the new regime as well as the old regime.
07:52This also comes under the top tax saving option.
07:54If your income is from other sources,
07:56then in the old regime,
07:57to some extent, your bank interest is exempted.
07:59If your income is from your capital gains,
08:01then it depends on your shares or any property.
08:05In that, the tax saving options are different.
08:07Section 112A is there,
08:08in which you can take the exemption of equity shares up to Rs. 1.25 lakh.
08:12If you have sold a house,
08:13then you can take another house.
08:15In section 54, you can take the benefit by taking another house.
08:18In this way, for every income category,
08:21the tax saving options are different.
08:23The new regime and the old regime are also different.
08:27Sir, in the old regime,
08:28ATC is very popular.
08:30Please tell us a little about ATC.
08:32In this, how can the tax be saved?
08:37ATC is a very old provision.
08:39People used to say,
08:41see the ATC of C-ATC and increase it.
08:44You get an exemption of up to Rs. 1.5 lakh.
08:47In PPF, National Saving Certificate,
08:50you can take an insurance policy.
08:52You pay the tuition fees of children.
08:55The company provides a provident fund.
08:57In total, it is only Rs. 1.5 lakh.
08:59By combining all these things,
09:00you cannot take more than Rs. 1.5 lakh.
09:02You reduce Rs. 1.5 lakh from your income.
09:04Those who work on salary,
09:05whose salary is good,
09:07their provident fund is enough for Rs. 1.5 lakh.
09:10If it is saved,
09:11then the things I told you,
09:12PPF, NSC,
09:14tuition fees of children,
09:16housing loan, principal repayment,
09:18all these things come under ATC.
09:20You can get an exemption of up to Rs. 1.5 lakh.
09:24Sir, the financial year is about to end.
09:26What are the things that need to be taken care of
09:29before 31st March?
09:34I think before 31st March,
09:35if you invest,
09:37like you mentioned about the old regime,
09:39if you save tax by investing,
09:42then my advice is
09:43to assess all your investments
09:46and complete them.
09:47Because there are some actions
09:49that you can take only till 31st March.
09:51Once 31st March is over,
09:52then a new financial year starts.
09:54Then you won't be able to take those actions.
09:56So my advice is,
09:57especially those who are in the old regime,
09:59I will advise them
10:01to take out their investment options
10:03beforehand.
10:04And if they are unfulfilled,
10:06that is unused,
10:07then you can use them.
10:09And after using them,
10:10you can check if there is anything left.
10:12Otherwise, your tax will be wasted.
10:14If you are in the new regime,
10:16then before 31st March,
10:17I will say that
10:18if you haven't done NPS,
10:20National Pension Scheme,
10:22if you haven't done it,
10:24then you should definitely invest in NPS.
10:26Because you get it in the new regime as well.
10:29Apart from that,
10:30you should collect all your documents.
10:31You should take your statement from all the places.
10:33If you want to file your return on time,
10:35and don't want to wait for the crowd till July,
10:37then before 31st March,
10:39you should start collecting all your documents.
10:41You have to get a statement from the broker.
10:43From the company,
10:44Form 16 will come after 31st March.
10:46You have to collect bank statements from other places.
10:48Whatever you have to do,
10:49you can start your work.
10:52Sir, if someone misses the deadline,
10:55the deadline for tax,
10:57what should they do?
11:00There is a lot of time in the deadline.
11:02The deadline is 31st July.
11:04So, if someone misses the deadline,
11:06then you know that
11:07you can file a belated return till 31st December.
11:10There is a penalty in that.
11:12There is a penalty in the penalty amount.
11:14It is not too much.
11:15It is 5000-10,000 under 234F.
11:17You can pay that and complete it.
11:19But there is still time in that.
11:22I would like all the followers and viewers of Daily Hunt
11:26not to miss this deadline.
11:28Because it is till 31st July.
11:30And it starts from 1st April.
11:32Generally, the returns of Bhawana are
11:35mostly filed between 15th May and 31st July.
11:40Because it starts from April.
11:41Generally, people don't file it.
11:43Because it takes time to get the statements,
11:45to get Form 16.
11:47And it takes time to collect the documents.
11:50So, it is 31st July.
11:52If someone misses the deadline,
11:53then you can file a belated return till 31st December.
11:56Sir, my next question is that
11:57the freelancers and self-employed people,
12:00how can they maximize their tax savings
12:02by the end of the year?
12:06See, the freelancers who have their own income,
12:09do small businesses,
12:10or are associated with a profession,
12:12I would advise them.
12:14Because your expenses are subtracted from your income.
12:19That is, your net profit is taken out.
12:21And if you are in presumptive tax,
12:23then that is a different thing.
12:24But generally, you minus your expenses.
12:26So, you keep your bills of expenses safe.
12:29If you do small work.
12:30Normally, I have seen people go to restaurants,
12:32do business meetings, do anything.
12:33After that, they throw away the bill.
12:35They don't keep the bill safe.
12:36So, I would advise them to keep their bills safe.
12:39And they don't even maintain their accounts properly.
12:44So, maintain an Excel sheet,
12:45in which you can see where you got your income from,
12:48where you spent.
12:50Make a list of that.
12:52If your income is in crores,
12:53then you have to keep books of accounts.
12:56You see that your books of accounts are complete,
12:58not incomplete.
12:59You have to take care of all these things.
13:01Apart from this, for small businesses,
13:03for professionals,
13:04there is a presumptive tax scheme for them.
13:06Where there are turnover limits.
13:08Rest, for self-employed,
13:10I think in your system,
13:12in your computer,
13:13in your laptop,
13:14in your phone,
13:15in your papers,
13:16there should be a list of accounts.
13:18Where you got your money from,
13:20and where you spent it.
13:22Especially, the money you spent for official purposes.
13:25Keep a separate account of that money.
13:28Because all that is subtracted from your income.
13:31Now let's talk about
13:33the tax on the profit made from your investment.
13:37In which Long-term Capital Gain Tax
13:39and Short-term Capital Gain Tax.
13:41If you are also incurring a loss,
13:43then you can also make a profit from the loss-making share.
13:46How?
13:47We will understand that from Sharad ji.
13:49Sharad ji's term is Tax Loss Harvesting
13:51and Tax Gain Harvesting.
13:53About this,
13:54we would like to understand in a little detail.
13:56What is this?
13:57When should it be used?
13:59Who can use it?
14:00How beneficial is it?
14:02What benefit can it get?
14:06Tax Harvesting means that
14:08before 31st March,
14:09if you earn from investment,
14:11you are absolutely right.
14:12Assume that
14:13Tax Harvesting is normally counted in Equity Shares.
14:16Equity Shares means that
14:18Assume that you have an income from Equity Shares.
14:20And you are making a profit from those shares.
14:23Or assume that
14:24there are some shares where there is a loss.
14:27You can do this.
14:28Nowadays, the market has fallen a lot.
14:30It has fallen from Rs 26,227.
14:32The market has recovered for 3-4 days.
14:35But it is still low from that peak.
14:37Assume that you are sleeping.
14:38Many investors meet me
14:39who say that there is a loss.
14:40So, what you should do is
14:42you should book your loss.
14:44After booking the loss,
14:45even if you enter again after 1st April,
14:48what will happen is
14:49by booking the loss,
14:50you will incur a long-term capital loss.
14:52You can adjust the loss
14:53or you can carry forward the loss.
14:55And if you are making a profit,
14:56then you can do tax harvesting.
14:58Then what you should do is
14:59you should book the profit.
15:01There is a provision of harvesting
15:02in Section 112k up to Rs 1.25 lakh.
15:06That means,
15:07against the gains of Equity Shares,
15:10you get a loss of Rs 1.25 lakh in tax.
15:13So, book your profit.
15:14Because until you book,
15:15you will not get a loss.
15:16Book it.
15:17And if you want to keep that share for a long time,
15:20then you should buy it again.
15:22Send it once in a while
15:23and re-enter it.
15:25By selling it,
15:26it does not mean
15:27that I am telling you
15:28to sell your investments
15:30because you want to do tax harvesting.
15:32It does not mean that.
15:34It means that
15:35you sell it
15:36and use the benefit of Rs 1.25 lakh
15:39and re-enter it.
15:41This is called tax harvesting
15:43for loss making
15:44and profit making.
15:45Most of the time,
15:46the concept of tax harvesting
15:48applies to the people
15:49who have invested in Equity Shares.
15:54So, we have understood
15:55tax loss harvesting
15:56and tax gain harvesting.
15:58Now, I would like to ask you
15:59a small question.
16:01Can we adjust short-term
16:03against long-term
16:04and can we adjust long-term
16:05against short-term
16:06through this harvesting?
16:09Short-term can be adjusted
16:10against long-term.
16:12But long-term
16:13cannot be adjusted against short-term.
16:14So, you should keep this in mind.
16:16You can take advantage of losses
16:17in two ways.
16:18First, you can set it off.
16:20Second, you can carry it forward.
16:22For example,
16:23if you don't have enough profit
16:25for the next 8 years
16:27and all your losses
16:28have been adjusted,
16:29then you can take it forward.
16:31After taking it forward,
16:32you can set it off
16:33against the coming profits
16:34for the next 8 years.
16:36So, this is the short-term rule.
16:38Most of the time,
16:39this rule applies
16:40when you sell equity
16:41or security.
16:43Or if you have lost
16:44by selling a house
16:45or property,
16:47especially residential property,
16:49you can take advantage
16:50of this rule as well.
16:53You talked about
16:54carrying forward your losses.
16:56I have a question related to this.
16:58Can you explain
16:59how to carry forward
17:00your losses?
17:03Who can do it?
17:04How can it be done?
17:05For how long
17:06is the process
17:07of carrying forward
17:08your losses?
17:10For how many years?
17:14When you file your return,
17:16the loss will come out.
17:18When you file your return,
17:20the loss will come out.
17:21Let me explain it to you.
17:23Your loss was set off
17:25against the profit.
17:27Even after that,
17:28the loss was saved.
17:29This is called
17:30the remaining loss.
17:32The remaining loss
17:33will be carried forward
17:34in the coming years
17:35in the column
17:36of income tax return.
17:38When you make a profit
17:39in the next year,
17:40then you minus the loss
17:41and your tax will be saved.
17:43Even then,
17:44it will be saved.
17:45By doing this,
17:46for 8 years,
17:47if you don't make
17:48any profit in the next year,
17:50but your loss
17:51is still there,
17:52then you can
17:53carry it forward
17:54for 8 years in a row.
17:56In the coming,
17:57that is,
17:58in the 8th year of profit,
17:59you can knock off
18:00this year's loss.
18:02Your tax is saved.
18:04Those who have
18:05a loss in shares,
18:06a loss in selling property,
18:08we cannot compensate
18:09for that loss.
18:10We are sorry
18:11if someone has lost.
18:13But at least,
18:14in saving tax,
18:15you must use
18:16ITR 1.
18:18Sir, whenever people
18:19file their ITR,
18:21there are many
18:22common mistakes
18:23that people often make.
18:24What are those
18:25common mistakes
18:26and how can
18:27they be avoided?
18:28Do you want to
18:29give some tips?
18:31Look,
18:32while filing a return,
18:33the mistakes that happen,
18:34I will tell you
18:35some of the mistakes
18:36that most people make.
18:37First of all,
18:38they take the wrong
18:39form of income tax return.
18:40Suppose,
18:41you have income
18:42from your salary
18:43and income from
18:44a house property,
18:45then you can use
18:46ITR 1.
18:47If you have income
18:48from your capital gain,
18:49then you can use
18:50ITR 2.
18:51If you have income
18:52from business,
18:53then you can use
18:54ITR 3.
18:55If you have
18:56presumptive tax,
18:57then you can use
18:58ITR 4, etc.
18:59So, people take
19:00the wrong form.
19:01Firstly,
19:02this is a mistake.
19:03Because of this,
19:04your return can be
19:05rejected.
19:06Secondly,
19:07you don't show
19:08all your income.
19:09That means,
19:10you lose some
19:11income.
19:12You said that
19:13you have to prepare
19:14for ATC.
19:15You don't have
19:16to include anything
19:17in that category.
19:18You included it
19:19in ATC.
19:20That is a mistake.
19:21And a very big
19:22mistake that is
19:23happening with people
19:24these days,
19:25which I have seen
19:26for the past few years,
19:27which is very
19:28important to mention,
19:29is 26AS.
19:3026AS is where
19:31all your TDS
19:32reflects online.
19:33That means,
19:34whatever tax
19:35is deducted
19:36on your income
19:37is 26AS.
19:38I have given
19:39a new name to it.
19:4026AS is a
19:41form number.
19:42I have given
19:43a new name
19:44to it.
19:4526AS is
19:46Aamna Saamna.
19:47That means,
19:48your TDS
19:49is Aamna Saamna.
19:50Open it and see.
19:51People don't
19:52reconcile
19:53your income
19:54from 26AS.
19:55If you do it
19:56without reconciling
19:57from 26AS,
19:58then your
19:59return will
20:00be a fault.
20:01It will be a
20:02mess because
20:03it won't
20:04match.
20:05That means,
20:06the income
20:07that you have
20:08shown,
20:09the TDS
20:10that you have
20:11shown,
20:12they will
20:13fill it wrong.
20:14And it is important
20:15to fill the
20:16bank account
20:17correctly because
20:18let's say,
20:19you have to
20:20get a refund.
20:21That refund
20:22won't come.
20:23Then people
20:24say that
20:25they didn't
20:26get a refund.
20:27If the tax
20:28is deducted
20:29unnecessarily,
20:30you will know
20:31that there
20:32is a refund.
20:33And if you
20:34filled the
20:35bank account
20:36wrongly,
20:37then your
20:38refund will
20:39bounce.
20:40So, fill the
20:41bank account
20:42correctly.
20:43And the
20:44next thing
20:45is,
20:46you have to
20:47read the
20:48income tax
20:49carefully.
20:50If you read
20:51it carefully,
20:52then you
20:53will know
20:54that there
20:55is a
20:56refund.
20:57So,
20:58if you
20:59read it
21:00carefully,
21:01then you
21:02will know
21:03that there
21:04is a
21:05refund.
21:06So,
21:07if you
21:08read it
21:09carefully,
21:10then
21:11you
21:12will
21:13know
21:14that
21:15there
21:16is a
21:17refund.
21:18Everything
21:19is written
21:20in the
21:21income tax
21:22Here.
21:23So,
21:24I would
21:25request
21:26all the
21:27followers
21:28and viewers
21:29of Daily
21:30Hunt
21:31that you
21:32try
21:33to file
21:34your
21:35own
21:36return.
21:37That
21:38will
21:39There is nothing like that because I also believe that the more educated people are, the better it is for the government and for themselves.
21:47So, return should be taken very carefully.
21:49You said, what are the things that are not wrong?
21:51So, the things that I have told you, there are preventive steps hidden in them.
21:55Like I said, choose the right return, return form.
21:58So, you see in which category you come, where is your income coming from.
22:01According to that, you choose the return form.
22:04So, you won't make a mistake.
22:07There are a lot of people who do not come under the tax, but they file ITR.
22:13There are also a lot of people who do not come under the tax, but they do not file ITR.
22:18So, in this case, I would like to ask you to tell our viewers,
22:22whether you came under the tax or not, but what are the benefits of filing ITR?
22:31See, around 8.5 crores, around 40 lakhs of returns were filed last year.
22:37And two-thirds of the returns were such that there was no tax.
22:40That is, there were zero tax returns.
22:42So, in total, those who gave tax were 2 crores.
22:45So, you see, there are a lot of people who do not pay tax, but still file ITR.
22:49I am telling you the government figure, which has recently come out.
22:53So, filing ITR is a good habit for you.
22:56I understand that if you file ITR, you have to take a loan tomorrow.
22:59There will be a benefit.
23:00Tomorrow you have to apply for a visa of some country.
23:02Returns are asked there.
23:04It is considered for your income profiling.
23:07So, I would advise you that if you have a return, then you should file it.
23:11You should not avoid filing ITR.
23:13And if your TDS is cut, that is, the tax head source is cut,
23:17then you will have to file ITR to take a refund of the tax head source.
23:22And if you have made a foreign transaction, then it is mandatory.
23:25If you have bought or sold a property, then it is also mandatory.
23:28So, there are a lot of things like this.
23:30It is not necessary to pay tax, but still it is necessary to file ITR.
23:35And the two main purposes that I told you,
23:38keep in mind that if you are taking a housing loan, then
23:41and if you have to apply for a visa,
23:43for this, sometimes you are applying for a big credit card,
23:46for that too, you need a return.
23:48So, if your return is being made,
23:51you check whether you have applicability or not and you file it.
23:55Finally, after the end of the financial year,
23:57people start planning for the next year.
24:00So, from April 1, 2025,
24:03how can the tax planning of the next financial year be done?
24:07What should be taken care of?
24:08What can be done?
24:09Sir, what tips will you give our viewers about this?
24:16Bhavna, I will conclude by saying this,
24:18what you asked in the beginning,
24:20that it is very important for you to decide the regime first.
24:23Which regime are you in?
24:24And till last year, i.e. 31st May, 2025,
24:27I think the number of people in the old regime was 1 third,
24:322 third people came in the new regime.
24:34So, they have to decide their own regime.
24:38After deciding the regime, you will be able to plan
24:40where you have to do it.
24:42So, I think the rest of what we have said in the show,
24:44all the answers are hidden in it.
24:46And I hope after watching this show,
24:48you will have more confidence to file the tax.
24:51And you will try to file it yourself.
24:53If you have any more questions,
24:54I am sure you can put your direct message below.
24:58So, Shauratji, thank you so much for sharing all the information.
25:02All the insightful details that you have shared with us,
25:06I am sure our viewers have got a clear understanding
25:10as to which mistakes should not be made,
25:12how to do it.
25:13The basic things, the basic understanding that a common man should have,
25:17I am sure you have got that.
25:19Thank you so much for connecting with us and talking to us.
25:22I hope all the viewers found this episode to be very informative.
25:29If you are watching this video on Facebook,
25:31then like the Facebook page.
25:32If you are watching on YouTube,
25:33then don't forget to subscribe to the GoodReturns YouTube channel.
25:35And if you have any questions related to tax,
25:38related to ITR,
25:40then you can definitely ask us in the comment section.
25:43We will try our best to answer all those questions.
25:46Otherwise, we will try to bring one more episode with Shauratji.
25:50Thank you for watching us.