Income Tax Calculation on Salary Payslip | How to Calculate Income Tax [Calculator]

Income Tax Calculation on Salary Payslip | How to Calculate Income Tax [Calculator]
In this video by FinCalC TV we will see Income Tax Calculation on Salary using salary payslip in hindi. We will check old tax regime and new tax regime calculations with the help of income tax calculator and tax slab rates 2023-24. This will help you in income tax return filing as a salaried employee.

Income Tax Calculator Online:

Income Tax Slabs 2023-24:

New Tax Regime Deductions Allowed:

DOWNLOAD Income Tax Calculator App on Mobile:

JOIN Telegram Group:

CHAPTERS:
00:00 Income Tax Calculation on Salary Intro
00:57 Salary Payslip Structure Example
03:19 Applying Deductions to Save Income Tax
05:20 Professional Tax in Salary
06:20 Taxable Income Calculation
07:31 Income Tax Slabs [Old Regime]
07:49 Calculating Tax based on Slab Rates
09:02 Tax Rebate 87A Eligibility
10:19 Income Tax Slabs [New Regime]
12:02 Example 2 for Income Tax Calculation on Salary
17:26 Using FinCalC Income Tax Calculator
20:32 Conclusion

HRA Calculation Video:

Tax Saving options with Old Tax Regime:

Section 80C Deductions List:

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:

============================
MORE VIDEOS:

============================
DISCLAIMER:
Examples and demo used are for Illustration purpose only and might not cover every detail of examples shown.

[fincalc]

Income Tax Calculation on Salary Video kaisa laga? COMMENT KARO 👇👇
Tax Saving Options:
Income Tax Calculator:
JOIN Telegram Group:

[sandhyarawat]

Very informative video and apke samjhane ka tarika bhot acha hain

[krishh_singh]

I just scroll and found this video
Thanks a lot
After my CA Intermediate
It will help me in my practical journey of articleship
Pls continue to make more Video like this
Its make Tax Interesting :)
Also make video in GST too

[KaranSingh-vrpw]

Impressive and very helpful content.
Grateful to get this quality of content. 🙏🏻

[SarangaVlogs]

Very good explanation. First time i saw how tax is calculated.. ❤ Subscribed ❤

[MartinAdhikary-ngbe]

Very nice. So easily understood. Thank you so much.

[ashggn]

nice and informative video. I am a govt employee and want to calculate my tax as per new tax regime, but I am confused about the 25K calculation of marginal relief. Do you have any video regarding that.

[subramaniyamm]

I don't know hindi but i really understand the video

[dipakmaity]

Please make a valuable informative video for Divyangjan Employee and vividly analysis with examples. Thanks

[nehaojha]

Sir MMLSAY kya deduction mai aya ga kya in income tax computation

[ayyyyyy]

Bonus wil be calculated?
If the employer has deducted 30% tax before paying only ?

[ashishsharma]

Employer PF amount 1800 also gets deducted from my salary. Should I include that amount amount as well in 80C? 1800+1800?

[dikeshkurre]

I just another similar video which said we can claim deduction under 80 CCD (1b) under new regime

[nareshshorie]

What about conveyance and medical allowance I think it should also be deducted, please clarify.

[shaikhishfaq]

Is section 80D applicable in new tax regime for example medical certificates Form 10

[firdausalam]

Sir basic salary ko minimum wage se down nhi kr skte kya?? Minimum wage gross salary ke liye h ya fr basic salary

[MeghaGupta-hhmn]

Dear sir pls make a vedio for 58ctc salary according to new tax slab

[RajeshKumar-RK]

Hello sir... maximum amount kitni hoti hain deduction ki...agar sari deduction club ki jayi...koi limit hoti hn ya yeh unlimited hoti hn...

[uzdhyof]

PT Deduction Rs. 300 in Feb month, so total professional tax deduction Rs. 2500/-

[SanaKhan-nzig]

Sir medical insurance yadi 3 sal k h to per year kitna tax exemption milega