Old v/s New Tax Regime Explained | Money Psychology

With the ITR filing deadline approaching on July 31, many taxpayers struggle to choose between the old and new tax regimes. In this rush, it's easy to miss out on the regime that offers the best tax benefits. That's where this video helps. We'll first explain how tax slabs work, discuss the issues with deductions, and finally show you how to compute your tax liability using an income tax calculator.
To make things easier, we've also provided a ready reckoner to help you compare both regimes for different income levels and deductions.

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Happy Watching :)

Ready Reckoner & Income Tax Calculator: https://docs.google.com/spreadsheets/...

0:00 - Let’s begin
1:34 - How do the tax slabs work?
5:16 - Income tax rates as per the new tax regime
7:46 - Are you choosing the old tax regime only because of deductions?
8:37 - Income Tax Calculator
11:10 - Ready reckoner
12:00 - Bloopers!