How to Calculate Income Tax with Slab Rates 2023-24 | Income Tax Calculation
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- čas přidán 17. 05. 2024
- How to Calculate Income Tax with Slab Rates 2023-24 | Income Tax Calculation with old and new tax regime
In this video by FinCalC TV we will see How to Calculate Income Tax Examples using Income Tax Slab Rates for FY 2023-24 in hindi using simple calculator and excel. We will see old tax regime and new tax regime calculations and which is better to choose between old and new tax regime. Also we will see various deduction options to save income tax in 2023-24
Income Tax Calculator Online:
fincalc-blog.in/income-tax-ca...
Income Tax Slab Rates:
fincalc-blog.in/old-vs-new-ta...
New Tax Regime Deduction Options:
fincalc-blog.in/new-tax-slabs...
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CHAPTERS:
00:00 How to Calculate Income Tax Intro
00:50 Old vs New Tax Regime Calculations
01:52 Old Tax Regime Slab Rates 2023-24
02:35 New Tax Regime Slab Rates 2023-24
03:04 Rs. 10 Lakh Income Tax Calculation
04:56 How to Calculate Taxable Income
05:27 Slab 5% Tax Calculation
06:15 Slab 20% Tax Calculation
07:23 Calculating Sum of All Slabs
07:41 Tax Rebate 87A Eligibility
08:05 Cess 4% Calculation
08:24 Total Income Tax Calculation
08:55 New Tax Calculation with new regime
13:26 Deductions available in new tax regime
13:47 Income Tax Calculator using FinCalC Blog
17:30 Conclusion
Section 80C Deductions List:
• Section 80C Deductions...
Save income tax video:
• How to Save Income Tax...
Tax Rebate 87A Explained:
• Standard Deduction & T...
Income Tax Calculation Examples:
• Income Tax Calculation...
After watching this video following queries will be solved:
How To Calculate Income Tax FY 2023-24 AY 2024-25?
What are the income tax slab rates for FY 2023-24?
What is standard deduction for FY 2023-24?
Old Slab rates vs new slab rates?
Income Tax calculation FY 2023-24 using excel examples?
Tax rebate under section 87A?
What is tax rebate u/s 87a
Eligibility for tax rebate 87a
Old income tax slab rates calculation vs new income tax slab rates calculation
New Budget 2023 income tax
standard deduction new tax regime
NEW TAX REGIME:
- No Income Tax on Income between Rs. 0 to Rs. 3 lacs
- 5% Tax on Income between Rs. 3 lacs to Rs. 6 lacs
- 10% Tax on Income between Rs. 6 lacs to Rs. 9 lacs
- 15% Tax on Income between Rs. 9 lacs to Rs. 12 lacs
- 20% Tax on Income between Rs. 11 lacs to Rs. 15 lacs
- 30% Tax on Income above Rs. 15 lacs
OLD TAX REGIME:
- No Income Tax on Income between Rs. 0 to Rs. 2.5 lacs
- 5% Tax on Income between Rs. 2.5 lacs to Rs. 5 lacs
- 20% Tax on Income between Rs. 5 lacs to Rs. 10 lacs
- 30% Tax on Income above Rs. 10 lacs
EXAMPLES:
Let's say your gross total income as Rs. 6,15,000
Let's say your total investments as Rs. 75,000. So your net taxable income becomes equal to Rs. 6,15,000 minus Rs. 75,000, which is equal to Rs. 5,40,000. These Deductions are applicable only if you are using Old Tax slab rates. Your net taxable income when considering New Tax slab rates remains Rs. 6,15,000, as no deductions are applied on your total income.
Now to calculate your income tax, if you are an employee or pensioner, you get a standard deduction of Rs. 50,000 only if you are using old tax slab rates.
So your net taxable income becomes equal to Rs. 4,90,000 if you are using Old Tax Slab Rates. But it remains as Rs. 6,15,000 based on new Tax Slab rates.
WATCH FULL VIDEO TO KNOW MORE ABOUT NEW INCOME TAX SLAB RATES AND MORE EXAMPLES.
#IncomeTax #Examples #FY2023-24 #IncomeTaxCalculation #FinCalCTV
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DISCLAIMER:
Examples and demo used are for Illustration purpose only and might not cover every detail of examples shown.
![Senior Citizens Income Tax Slab Rates and Tax Calculation 2023-24 [Examples]](http://i.ytimg.com/vi/n5crP-kyY1c/mqdefault.jpg)
![Senior Citizens Income Tax Slab Rates and Tax Calculation 2023-24 [Examples]](/img/tr.png)
Income Tax Calculation Video kaisa laga? COMMENT KARO👇👇
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Good n easy to understand
@@shashin5092❤q
N
Good , Excellent
@fincalc is Professional Tax 2400 along with standard deduction 50000 applicable in this new regime?
Please reply
@@kingrajaneesh276 only standard deduction is allowed. professional tax deduction is not allowed in new regime
भाई अपने बहोत बढिया बनाया very Good🎉🎉🎉
Very useful and easy to understand👌👌👌
Thanks Bhai🙏🙏🙏
Very useful information Great video tax ke bare mein sabse behtarin video
Thank u sir very useful video
Very informative video, well explained, thank you
Glad it was helpful!
Lovely calculations
Thank you thank you thank you. Just because of u I finally Crack it. Thank you.
Great Sharing.
thanks :)
Best video sir
great video, i easily understood how tax is calculated
Glad it was helpful! Please share with your friends
Thanks a lot very very educative step by step in detail🎉🎉🎉❤❤❤😊
welcome. please share with your fiends!
Thanks a lot for the clear explanation on tax. We have 2 PF components - employee contribution and employer contribution. 1 contribution comes under 80c, is the another contribution taxable or non taxable ??
Veri nice your teaching capacity is veri good
Confusion cleared, thanks bro.
welcome
Thanks for clarify
Easy to understand ❤
Pura tax ka concept hi clear kar diya,,,
Very clearly explained. Easy to understand. Excellent video. Could be even better with the mention of sec 80tta and 80ttb. Thank you
Very nice information for step by step calculation under both regime
Thanks for liking
Nice description of calculating the tax... Thanks a lot
Glad it was helpful!
very well explained, Sir. Thank you!
Glad it was helpful!
Very good news for all
Thanks sir ❤❤❤
Good bahut aache se bataya thanks
Welcome 🤗
Thanks very much for your nice and clear explanation of the subject.
Glad it was helpful!
thank you
Thanlu bhai
nice
Thank you so much for saving my time sir ❤❤
Always welcome
VERY FINE
Very good demo. I'm senior ctzn. What is the calcn, for new regime. pl post. Thnx
I want to know whether income from other sources are included with the gross income while calculating in the new tax regime.
Very good explanation
thanks
Best guidance
thanks
Intt on ppf will treat as intt income in new regim?
Thanks for providing calculator 😊
Most welcome 😊
It is a nice Demo for filing ITR, FY.23-24.
जो लोग सर के द्वारा बताए गए तरीके से टैक्स फाइल करते है। और अधिक टैक्स बचाना चाहते है तो 80 G ke तहत मानव जन कल्याण फाउंडेशन को डोनेट करके 50% तक टैक्स save kar सकते है।
Please make a video of ITax calculation in Excel sheet mentioning different section of Income Tax act.
Very easy to understand
Thank you 😊
welcome :)
Nice
Good explanation
Thanks for liking
Sir Education fees kon se section me or kitni diduction hiti hai bataega
Very nice 👍
Thank you 👍
My home loan is running on and I am staying in another state in a rented house so can I claim both as deduction?
Old & new IT Calculation will deduction professional tax or not. Please
Good Video Sir
Thanks
for 80 tta deduction, should we consider the interest of q4 of FY 2022-23 credited in q1 of FY 2023-24 for filing ITR of FY 2023-24 AY 2024-25?
, Thank you.
welcome
Agr 11L gross h or HRA(saving) nhi h to kya hum New ke sath ja skte h????
Nice information
Thanks
Very good, if we can calculate our income tax at your site .
जो लोग सर के द्वारा बताए गए तरीके से टैक्स फाइल करते है। और अधिक टैक्स बचाना चाहते है तो 80 G ke तहत मानव जन कल्याण फाउंडेशन को डोनेट करके 50% तक टैक्स save kar सकते है।
Gross pay pr tax lgta h ya net pay pr confusion h reply kijiye plz
New slab mein development tex deduct hovega k nahi
Your website is not updated to calculate income tax for FY
2024-25 please update
Thanks for making this awesome content which is really helpful
Sir ak senior citizen hai jinki na koi income hai na koi job h, sirf ak post office me fd h aur usme unka tds kata h too refund lene k liye kon sa ITR bhare 1-2-3-4❔❔
जो लोग सर के द्वारा बताए गए तरीके से टैक्स फाइल करते है। और अधिक टैक्स बचाना चाहते है तो 80 G ke तहत मानव जन कल्याण फाउंडेशन को डोनेट करके 50% तक टैक्स save kar सकते है।
New tax slab me kya NPS ka benifit nhi milta kya????
If my income is 3 lac and short term capital gain is 3 lac. So under new tax regime no tax i need to pay?
One help which regime I need to use if my gross salaried income is more than 18 lakh please advise
if you make investments than old regime, else new regime
use calculator and compare tax with both regimes:
fincalc-blog.in/income-tax-calculator/
जो लोग सर के द्वारा बताए गए तरीके से टैक्स फाइल करते है। और अधिक टैक्स बचाना चाहते है तो 80 G ke तहत मानव जन कल्याण फाउंडेशन को डोनेट करके 50% तक टैक्स save kar सकते है।
good
Thanks
Sir, what will happen if I take 1.5L exemption in 80C when I don't have any PF, LIC, Health insurance etc
New regime me NPS ki chhut milti hai na?
Tds ke bare me aap batayi
Sir kya hra ki hme 3guna slip deni hoti h
Sir cess 4% lgana jruri hai sbke liye
Bro as per new regime for 700000 no tax. So no need submit tax proof for the same. Please help. Thanks!
you should file ITR so that you have for record purpose in future
जैसे अपने 60 साल उमर के IT भरने तरीके दिखाए उसी तरह Senior citizen कै IT भरने का (नए और पुराने) एक Demo दिखाए तो आपका बहुत आभारी रहूंगा।🙏
ji video banaya hai senior citizen ke liye.
yaha dekho:
czcams.com/video/n5crP-kyY1c/video.html
for senior citizen what will change?
Please ye comparison 1450000 ke liye kaisa hoga ?
Please suggest Tax slab Rate for Senior citizens for F. Y. 2023-2024 in New Regime
Thanks Sirji
check this article for tax slab rates of all age groups:
fincalc-blog.in/old-vs-new-tax-regime-slab-rates-fy-2023-24/
जो लोग सर के द्वारा बताए गए तरीके से टैक्स फाइल करते है। और अधिक टैक्स बचाना चाहते है तो 80 G ke तहत मानव जन कल्याण फाउंडेशन को डोनेट करके 50% तक टैक्स save kar सकते है।
House loan kaisey calculation kaise kare
❤
Thank you, I have been using your calculator for a long time, I wanted to draw your attention that in your calculator for FY 2023-24, the calculation of surcharge on salary income above 50 lac is wrong. Please change it.
10 minutes video is more than enough
last year aap ne gov employ ke liye total year excel calculator diya tha wo nai mil raha hai
में एक government employees hu Kya government ka 14 % NPS and 50000 std deduction new tax scheme m hoga
Mahoday ki jo aadami agent ka karate unka tax kaise hisab hoga 18:10
Sir ccd 2 ke bareme samjayye. Goverment employed. New tax regim pleas reply
जो लोग सर के द्वारा बताए गए तरीके से टैक्स फाइल करते है। और अधिक टैक्स बचाना चाहते है तो 80 G ke तहत मानव जन कल्याण फाउंडेशन को डोनेट करके 50% तक टैक्स save kar सकते है।
Bhai new mai 14% of govt contribution to nps भी chhut मिलती hai
Sir, kya new tax slab lene ke baad future me kabhi ni old tax slab le skte hai ???
yes ITR file karte samay switch kar sakte hai
Teacher HRA exemption kar sakte hai kya...
जो लोग सर के द्वारा बताए गए तरीके से टैक्स फाइल करते है। और अधिक टैक्स बचाना चाहते है तो 80 G ke तहत मानव जन कल्याण फाउंडेशन को डोनेट करके 50% तक टैक्स save kar सकते है।
Can someone please tell me that in gross income , do we have employee and employer PF contribution amount, gratuity and professional tax is also there or not?
yes bro it is included in GTI. Against employee contribution you will get max deduction u/s 80c is 1.5 lakh. for employer contribution you will get exemption upto 12%of salary
जो लोग सर के द्वारा बताए गए तरीके से टैक्स फाइल करते है। और अधिक टैक्स बचाना चाहते है तो 80 G ke तहत मानव जन कल्याण फाउंडेशन को डोनेट करके 50% तक टैक्स save kar सकते है।
Bro please Bussiness ke liye income tax calculation video banaye
जो लोग सर के द्वारा बताए गए तरीके से टैक्स फाइल करते है। और अधिक टैक्स बचाना चाहते है तो 80 G ke तहत मानव जन कल्याण फाउंडेशन को डोनेट करके 50% तक टैक्स save kar सकते है।
Sir yadi mujhe 60000 /- hra received huaa company se aur maine house diya 150000 to mujhe kya krna chahiye
Bhai,Salaried person house rent pay karta hai usko kis section me deduction claim kr sakte hai???
Hra claim kar sakte hai.. hra nahi hai payslip me to section 80Gg me Max 60,000 in a year
Ye video dekho
czcams.com/video/J5KugtFfmJw/video.htmlsi=klnUkt3cgWuEB-vd
HRA
rebate ke liye reciet jaruri h ?
nahi, lekin receipt hai to better rahega
Groce income..8.5lakh above ..which is the best for income tax old or new and whY
जो लोग सर के द्वारा बताए गए तरीके से टैक्स फाइल करते है। और अधिक टैक्स बचाना चाहते है तो 80 G ke तहत मानव जन कल्याण फाउंडेशन को डोनेट करके 50% तक टैक्स save kar सकते है।
Why not govt/IT dept not publishing the correct calculation sheet showing taxable income & limits? One side no tax upto 7-27 lakhs.but paying/disbursing authorities are deducting tax as they like especially nov to Feb months
सर....100 % गवर्नमेंट ग्रांट पानेवाले प्राइवेट स्कूल में मैं टीचर की जाॅब करता हूँ...मेरी सॅलरी में NPS EMPLOYER CONTRIBUTION 14 % आता है...तो income tax में section 80ccd(2) में बेनिफिट 14 % मिलेगा या 10 % मिलेगा ?
जो लोग सर के द्वारा बताए गए तरीके से टैक्स फाइल करते है। और अधिक टैक्स बचाना चाहते है तो 80 G ke तहत मानव जन कल्याण फाउंडेशन को डोनेट करके 50% तक टैक्स save kar सकते है।
i have hb loan ..how can i add this?
We have to file ITR in both schemes or not???
while filing ITR you need to choose between old regime or new regime
Nps employer contribution ka kitna deduction hoga new tax regime m?
10%
Pensioner ko konsa tax old ya new theek rahega
Abhi jab mein March 2024 may tax bharunga tho yeh Jo apne pura bataya hai vo sab applicable hoga ?
yes
जो लोग सर के द्वारा बताए गए तरीके से टैक्स फाइल करते है। और अधिक टैक्स बचाना चाहते है तो 80 G ke तहत मानव जन कल्याण फाउंडेशन को डोनेट करके 50% तक टैक्स save kar सकते है।
Bhai 317000 year income par kitna tex banega
Vikang ko new main deduction hai kya😊
Kya new regime mein 80u ki deduction eligibility hae ?
जो लोग सर के द्वारा बताए गए तरीके से टैक्स फाइल करते है। और अधिक टैक्स बचाना चाहते है तो 80 G ke तहत मानव जन कल्याण फाउंडेशन को डोनेट करके 50% तक टैक्स save kar सकते है।
I am in new tax regime. My investment is only homeloan. Salary bracket is 9to 12 lac.... Will the new tax regime will benefit me?
जो लोग सर के द्वारा बताए गए तरीके से टैक्स फाइल करते है। और अधिक टैक्स बचाना चाहते है तो 80 G ke तहत मानव जन कल्याण फाउंडेशन को डोनेट करके 50% तक टैक्स save kar सकते है।
How to calculate income tax between 750000 and 800000.Calculator shows different result. ....and calculation shows different result. .....please reply