{"id":93710,"date":"2025-02-17T13:49:59","date_gmt":"2025-02-17T13:49:59","guid":{"rendered":"https:\/\/peraltafinancing.com\/analytics\/which-model-is-your-best-accountant\/"},"modified":"2025-02-17T13:49:59","modified_gmt":"2025-02-17T13:49:59","slug":"which-model-is-your-best-accountant","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=93710","title":{"rendered":"Which Model is Your Best Accountant?"},"content":{"rendered":"


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It\u2019s that time of the year again and tax filing is indeed a taxing process! Are you struggling with filing your ITR? Or are you still relying on your personal CA to handle it all? How about having a personalized AI tax assistant at your fingertips? With powerful AI models like OpenAI\u2019s o3-mini<\/a> on ChatGPT, and DeepSeek\u2019s R1, tax filing is now easier and faster than ever. But which AI model does a better job at handling deductions, understanding new tax laws, and optimizing your savings? In this blog, we put o3-mini and DeepSeek-R1<\/a> to the test with real-world tax scenarios \u2013 involving salary slips, rent receipts, and tricky deductions \u2013 to see who\u2019s the better AI accountant.<\/p>\n

New Tax Regime 2025-26<\/h2>\n

In the Union Budget 2025, Finance Minister Nirmala Sitharaman has introduced significant changes to the income tax slab under the new regime. These new slabs will be effective from April 1,2025 for the financial year 2025-26. This budget\u2019s tax structure is designed to majorly benefit employed taxpayers, especially in the middle income category. Here are the major take aways from Budget 2025.<\/p>\n

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  1. Standard Deduction:<\/strong> The standard deduction for salaried individuals has been raised from \u20b950,000 to \u20b975,000, providing additional tax relief.<\/li>\n
  2. Increased Tax Exemption Limit:<\/strong> Individuals earning up to \u20b912 lakh annually are now exempted from paying income tax. For salaried individuals, after accounting for a standard deduction of \u20b975,000, this exemption effectively applies to incomes up to \u20b912.75 lakh.<\/li>\n
  3. Revised Tax Income Slabs:<\/strong> Here\u2019s the table for revised tax slabs, according to the new regime.<\/li>\n<\/ol>\n
    \n\n\n\n\n\n\n\n\n\n\n\n
    Annual Income (\u20b9)<\/td>\nTax Rate<\/td>\n<\/tr>\n
    0 \u2013 4 Lakh<\/td>\nNil<\/td>\n<\/tr>\n
    4 \u2013 8 Lakh<\/td>\n5%<\/td>\n<\/tr>\n
    8 \u2013 12 Lakh<\/td>\n10%<\/td>\n<\/tr>\n
    12 \u2013 16 Lakh<\/td>\n15%<\/td>\n<\/tr>\n
    16 \u2013 20 Lakh<\/td>\n20%<\/td>\n<\/tr>\n
    20 \u2013 24 Lakh<\/td>\n25%<\/td>\n<\/tr>\n
    Above 24 Lakh<\/td>\n30%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

    Are you feeling overwhelmed by all of these changes? Are you worried about remembering all the details and planning your taxes correctly? No worries! Why stress when you can have an AI tax assistant do it for you?<\/p>\n

    DeepSeek-R1 vs OpenAI o3-mini for Tax Filing<\/h2>\n

    You\u2019ve probably heard about the Chinese AI model DeepSeek-R1 and its biggest American competitor, OpenAI\u2019s o3-mini<\/a>. Although both these AI models are known to be exceptional at logical reasoning, mathematics, and more, can they actually help with tax calculations? Let\u2019s put them to the test!<\/p>\n

    We\u2019ll use DeepSeek-R1 and o3-mini as AI tax assistants and explore two different scenarios to see how well they handle financial planning. But before that, let\u2019s see how to access these models.<\/p>\n

    How to Access o3-mini?<\/strong><\/p>\n

    Step 1: Head to https:\/\/chatgpt.com\/<\/a> and select o3 mini from the top left drop down of model options.<\/p>\n

    Step 2: Give the prompt.<\/p>\n

    Also Read: How to Run OpenAI\u2019s o3-mini on Google Colab?<\/a><\/em><\/p>\n

    How to Access DeepSeek-R1?<\/strong><\/p>\n

    Step 1: Go to https:\/\/www.deepseek.com\/<\/a> and select \u2018Start now\u2019. Then sign in using your Gmail account.<\/p>\n

    Step 2: Select DeepSeek-R1 and then provide the prompt.<\/p>\n

    Now let\u2019s get to the tax filing.<\/p>\n

    Scenario 1: Which Model Has Better Understanding of the New Regime FY 2025-26?<\/h3>\n

    Prompt:<\/strong> \u201cHere\u2019s a link to the new tax regime proposed in Budget 2025: https:\/\/economictimes.indiatimes.com\/wealth\/income-tax-slabs?from=mdr.<\/a>
    Using only the information in that article, what is the standard deduction for the financial year 2025\u201326\u201d<\/em><\/p>\n

    Response by o3-mini (high)<\/h4>\n
    \"filing<\/figure>\n

    Response by DeepSeek-R1<\/h4>\n
    \"filing<\/figure>\n

    Comparative Analysis<\/h4>\n

    You can clearly see that OpenAI ChatGPT o3-mini gave the wrong answer, while DeepSeek-R1 got it right. Under the new tax regime, the standard deduction for a salaried employee is \u20b975,000. This shows that DeepSeek-R1 could collect the relevant information from the article better than ChatGPT o3-mini.<\/p>\n

    Also Read: Can o3-mini Replace DeepSeek-R1 for Logical Reasoning?<\/a><\/em><\/p>\n

    Scenario 2: Which Model Can Handle the New Tax Regime Better?<\/h3>\n

    Let\u2019s Take a Test Case: Priya Mehta<\/p>\n

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    1. Age: 29<\/li>\n
    2. Salary: \u20b913,00,000 per annum<\/li>\n
    3. Deductions & Expenses:\n