I Asked ChatGPT “How to Save Income Tax” for FY 2024–25 — I Was Shocked by the ₹45,000 I Saved
When the FY 2024–25 tax season began, I had no clue how to structure my finances. So, on a whim, I typed into ChatGPT:
👉 "How can I save income tax this year?"
What followed changed my financial year.
📉 From owing ₹1,05,000 in taxes, I reduced it to just ₹60,000. A whopping ₹45,000 saved — legally and strategically.
🔍 Choosing Between Old vs New Regime
The first insight ChatGPT gave me was to compare the Old vs New Tax Regimes.
| Income Slab | Old Regime | New Regime |
|---|---|---|
| ₹5–7.5 lakh | 10% | 5% |
| ₹7.5–10 lakh | 15% | 10% |
| ₹10–12.5 lakh | 20% | 15% |
| ₹12.5–15 lakh | 25% | 20% |
✅ Since I had eligible deductions under 80C, 80D, HRA, and NPS, I was better off with the Old Regime.
💸 Here's Where I Saved ₹45,000
1. Section 80C – ₹1,50,000 invested
PPF: ₹60,000
ELSS: ₹40,000
EPF + Life Insurance: ₹50,000
💰 Tax Saved: ₹30,000
2. Section 80D – ₹25,000
Family Health Insurance
💰 Tax Saved: ₹5,000
3. HRA Exemption – ₹1.2 lakh claimed
💰 Tax Saved: ₹10,000
✅ Total Tax Saved: ₹45,000
🧠 Powered by Vizzve Financials
I validated these results using Vizzve Financials’ Tax Planner — it instantly recalculated my actual liability under both regimes.
🔹 “More than 61% of salaried Indians overpay tax due to incorrect regime selection,” Vizzve notes.
🔸 “Combining ChatGPT’s smart prompts with Vizzve’s calculators gives you the best of both worlds.”
❓ FAQs:
Q1: Is it legal to save tax using ChatGPT recommendations?
✅ Yes. ChatGPT uses current tax slabs, deductions, and exemptions based on Indian laws.
Q2: How did you know which tax regime was better?
I used ChatGPT's prompt and verified it with Vizzve Financials’ Tax Regime Comparator Tool.
Q3: Can I save tax without investing ₹1.5 lakh?
Yes. You can use standard deduction, HRA, NPS, and 80D. ChatGPT and Vizzve both highlight low-cost options.
Q4: What’s better—Old or New Regime in FY 2024–25?
If you have deductions >₹2.5 lakh, Old Regime may be better. Otherwise, New Regime offers simplified filing.
Q5: How does Vizzve help further?
Vizzve offers real-time, AI-driven planning tools, alerts for eligible deductions, and one-click filing integration.
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Published by Benny on July 3, 2025.
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RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed