New Tax Slabs FY2025-26 – How to Check Your Tax Savings in 2 Minutes?

introduction

The Indian government has revised the income tax slab in FY2025-26. Many taxpayers have a hard time understanding accurate tax savings under these new slabs. Fortunately, tools like Chatgpt can quickly analyze the tax status based on Forms 16. This article describes a new tax slab, how to check the potential tax savings in just 2 minutes, and whether it is safe to use. Chatgpt for this purpose.

Current tax slab (old new system -20124-25)

Check your existing slabs before jumping into the revised slab.

Revised tax slab (new system -20125-26)

The government has introduced an updated tax rate.

Using these revised slabs can benefit from a lower tax rate. But how do you calculate savings efficiently?

How to use Chatgpt to confirm tax savings?

It is boring to check the tax savings manually, but AI tools like Chatgpt can do it for you Just 2 minutes! The method is as follows:

Step 1: Download Form 16 (Part A and B)

• Your employer problem Form 16 At the end of the fiscal year.
• Make sure you have it Part BIncludes the details of the taxable income and the tax paid.

Step 2: Upload Form 16 to Chatgpt

• Open Chatgpt and start a conversation.
• Upload Form 16 (Part B)。
• The Indian government has written or changed based on your needs. This is my 16 part B of my form last year, and there is no hiking of this year’s salary. Alternatively, there is a salary hike from the annual X CTC to the annual Y CTC (deleted one of them)。 I use a new tax system (If you are using it, change to an old tax system) Please tell us how much tax savings you will have from next year.
  Up to 3,00,000 0 %
  3,00,001-7,00,000* 5 %
  7,00,001-10,000,000 10 %
  10,00,001 -12,00,000 15 %
  12,00,001-15,00,000 20 %
  30 % over 15,00,000

  New tax rate
  RS 4,00,000 -no tax from zero
  RS 4,00,000 to 8,00,000-5 %
  RS 8,00,0001 to 12,00,000-10 %
  Rupee 12,00,001-16 rupees -15 %
  RS 16,00,001-20 LAKH rupee -20 %
  Rupee 20,00,001-24 Rupy -25 %
  240,000 or more -30 %

Step 3: Get a tax saving report

Chatgpt is as follows:

• Extract the main salary details from Form 16.
• Please compare tax obligations Both old and revised tax slabs。
• Please show me Annual and monthly savings。

For example, in your case The taxable income is 24LYour taxes may decrease 1.25L per year Under the revised system Saving 10,400 pounds every month。

Is Chatgpt safe to upload personal tax data?

Chatgpt is a powerful tool, but many are worried about privacy and data security. This is what you need to know:

• Cryptence and security: Chatgpt does not store or hold uploaded files.
• There is no human access: Uploaded documents are safely handled without human intervention.
• Best Practice: When relevant Delete sensitive details (Bread, name, bank details, etc.) Before uploading form 16.

Can this be calculated manually?

Yes, you can manually calculate your income by baking your income to the old tax rate and the new tax rate, but this will take some time. Before you conclude this, you need to be free of accuracy

Conclusion

201025-26 revised tax slabs can lead to significant tax savings. Instead of calculating manually, you can use ChatGpt to confirm tax savings 2 minutes。 However, before uploading, delete the confidential details and keep your data privacy. Update, make a financial decision based on sufficient information to maximize tax profits!

This article was published in the first cut information available during the budget discussion, so if there is an incremental update, this will be updated.

SURESH KP is a veteran financial expert with more than 20 years of experience. He is a NISM certified investment advisor and research analyst. For more information about his expertise and certification, please see Suresh KP.

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