How to Calculate Income Tax 202324 AY 202425 Tax Calculation EXPLAINED in Hindi

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How to Calculate Income Tax 2023-24 (AY 2024-25) | Tax Calculation EXPLAINED in Hindi • In this video by FinCalC TV we will see How to Calculate Income Tax FY 2023-24 AY 2024-25 with examples in hindi and comparison of old and new tax regime. Standard deduction is applicable in new tax regime now from FY 2023-24 and also 7 lakh income will not attract any tax under new tax regime due to tax rebate. • Income Tax Calculator: • https://fincalc-blog.in/income-tax-ca... • Download Excel Calculator: • https://fincalc-blog.in/income-tax-ca... • JOIN Telegram Group: • https://t.me/fincalc_tv_channel • Download Android App: • https://play.google.com/store/apps/de... • CHAPTERS: • 00:00 How to Calculate Income Tax 2023-24 Intro • 00:50 Changes in new tax regime for FY 2023-24 • 02:03 Income Tax Slab Rates FY 2023-24 • 05:14 Using calculator for Income Tax Calculation • 08:53 Using Income Tax Excel Calculator • 09:57 Tax on Rs. 6 lakh Example • 11:31 Tax on Rs. 10 lakh Example • 12:52 Slab wise details calculation • 13:33 How to Calculate Income Tax 2023-24 Conclusion • 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 • ============================ • LIKE | SHARE | COMMENT | SUBSCRIBE • Mujhe Social Media par FOLLOW kare: • Facebook : / fincalctv • Twitter : / fincalctv • BLOG: https://fincalc-blog.in • Telegram: https://t.me/fincalc_tv • Instagram: / fincalc_tv • ============================ • MORE VIDEOS: • SIP Excel Calculator: • SIP Returns Excel Calculator| SIP vs ... • Income Tax Calculator: • How To Calculate Income Tax FY 2021-2... • Loan EMI Calculator: • Home Loan EMI Calculator Excel with P... • 20 Years SIP Calculator: • 20 Years SIP Returns Excel Calculator... • Loan EMI Prepayment Calculator: • Home Loan EMI Prepayment | How to Sav... • ============================ • DISCLAIMER: • Examples and demo used are for Illustration purpose only and might not cover every detail of examples shown. It is advised to seek professional help before taking any financial decisions. The owner of this channel shall not be liable in any way.

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