How to calculate Income Tax in Old Tax Regime | வருமான வரி கணக்கிடுவது எப்படி? Income tax simplified

How to calculate income tax in Old Tax Regime
5 Steps to calculate income tax
1. Identify income sources
2. Calculate exemptions and deductions
3. Calculate Net Taxable income
4. Calculate Tax as per tax slabs
5. Finalize tax - apply CESS, Surcharge, Rebate
EXCEL CALCULATOR LINK - (DOWNLOAD THE EXCEL FILE IN YOUR PC AND USE IT - DO NOT EDIT DIRECTLY IN BROWSER) - APPLICABLE FROM FY2023-24 ONWARDS (Based on BUDGET 2023)
docs.google.com/spreadsheets/...
Know about FORM 16 - • Everything about Form ...
Watch our income tax series - Calculation, old vs new tax regime, HRA, Income tax savings, Section 80C and more: • HOW TO CALCULATE INCOM...
How to read your Payslip - • Understand your PAY-SL...
Difference between CTC vs Gross vs Net Pay - • Why In-Hand Salary is ...
HRA exemption - • How to calculate House...
Penalty on Late payment of Income tax - • High interest rate on ...
HRA exemption - • How to calculate House...
Important documents need to file Income Tax Returns - • 5 IMPORTANT DOCUMENTS ...
Why do you need to file IT - • WHY SHOULD YOU FILE IN...
Complete details on 80C: • Section-80Cஇல் 14 வழிக...
EPF in Tamil: • Employee Provident Fun...
PPF in Tamil: • Public Provident Fund ...
NPS in Tamil: • NPS is Tamil | Nationa...
ULIP/LIC & money back plans: • What is ULIP and Guara...
ELSS: • ELSS - Equity Linked S...
Sukanya Samriddhi Yogana: • Sukanya Samriddhi Yoja...
Comparison of 80C: • Section 80C Comparis...

Пікірлер: 80

  • @karthikeyane9323
    @karthikeyane93234 ай бұрын

    Being an IT payer since long time I didn't know these concepts . I was eager to understand these tax concepts. Finally I understood this important topic through your video. Well explained. Thank You👍

  • @hajasherif6611
    @hajasherif66116 ай бұрын

    ரொம்ப நன்றி சார் ❤

  • @logeswarid7882
    @logeswarid78825 ай бұрын

    Thank you so much super explain

  • @thumuku9986
    @thumuku9986Ай бұрын

    Highly informative and well explained like a good teacher...Thanks a lot...

  • @srigowri8884
    @srigowri88842 ай бұрын

    Excellent explanation sir , thank you so much for your support,

  • @nilos4473
    @nilos44732 ай бұрын

    Really crystal clear explanation sir. Thank you so much 🙏🎉🎉🎉

  • @kvramesh360
    @kvramesh3606 ай бұрын

    Great 🎉🎉

  • @manojak2252
    @manojak22523 ай бұрын

    Tanks to explain

  • @ceo.naveen
    @ceo.naveen2 ай бұрын

    Clear explanation brother thank you 😉

  • @bhaskarmurugan7883
    @bhaskarmurugan78835 ай бұрын

    Awesome 🙏🙏🙏

  • @mannairajr
    @mannairajrАй бұрын

    Excellent comparison sir, thanks a lot

  • @bhaskarmurugan7883
    @bhaskarmurugan78835 ай бұрын

    Sir Excellent teaching skill ❤❤❤

  • @pachiyappanparthi2316
    @pachiyappanparthi23164 ай бұрын

    Thank you sir 🙏

  • @DineshKumarPh.D.
    @DineshKumarPh.D.2 ай бұрын

    Highly informative and well explained like a good teacher

  • @rameshbabuk15
    @rameshbabuk156 ай бұрын

    @thinkingtamizha007 Please make video on long & short term capital & gains calculating Workings

  • @akbaralitajudeen1688
    @akbaralitajudeen16883 ай бұрын

    Thank you so much sir, If you make a video for the Income tax rule for the NRI holder turning in to the Indian, really appreciate

  • @ramyaraj64
    @ramyaraj645 ай бұрын

    Please post a video about term life insurance🙏

  • @kannaiahr3522
    @kannaiahr35226 ай бұрын

    Very clear explanation. Kudos 👏👏👏👏. Need video of this continuation by paying the ramesh & suresh tax in income tax portal. How to calculate salary TDS deduction in final calculation.

  • @thinkingtamizha007

    @thinkingtamizha007

    6 ай бұрын

    Video on TDS calculation already there in our channel. Check description of this video for links.

  • @user-jv4sn7cz8g
    @user-jv4sn7cz8g6 ай бұрын

    Thanks Thaliva Can you tell me, NRI is must to file an Income Tax, because am NRI and I am holding stocks in stock market. Please make a video on this thanks in advance

  • @ganapathyganapathy9994
    @ganapathyganapathy99943 ай бұрын

    60 வயதுக்கு மேற்பட்ட நபர் தனது பெயரில் SCSs post officeஇல் போட்டால் , 8.2 % interest க்கு இன்கம்டாக்ஸ் உண்டு

  • @Muthukumar-cn2dx
    @Muthukumar-cn2dx6 ай бұрын

    Why NPS is not allowed in new tax regime..? As per budget 2023 Standard deduction and NPS (Employer contribution) is allowed in new tax regime.

  • @rajadurai_r
    @rajadurai_r3 ай бұрын

    For calculating. Gross income from pay slip what are the dues is calculated Pay , DA , HRA , Medical Allowance , conveyance allowance, sumptuary allowance…all are should be calculated or not

  • @bashokvalanmobile676
    @bashokvalanmobile6764 ай бұрын

    Hi Bro. how to calculate previous years' STCL.

  • @syedansar2212
    @syedansar22125 ай бұрын

    Hi Sir Can you give video about tax Tax-free perquisites

  • @PrabhaSathya-hb5qi
    @PrabhaSathya-hb5qi3 ай бұрын

    In your excel document, do we need to add our graduity amount as gross total income ?

  • @nagendrann9137
    @nagendrann91375 ай бұрын

    Sir , In my salary my employer is not paying LTA separately.... Shall I claim deduction for LTA

  • @sharetrendpattern2555
    @sharetrendpattern25553 ай бұрын

    Sir. I didn't fill ITR in the past years because i have losses only including options loss this year also heavy losses in options suppose i try to fill this year can i include previous year option losses is it's possible? Please explain..

  • @vinoth2cool
    @vinoth2cool6 ай бұрын

    Sir put video for crypto tax

  • @shanmugamd2162
    @shanmugamd21623 ай бұрын

    Lta pathi podavey illaye brother, where need to update in excel calculator excel?

  • @venkataramarao1123
    @venkataramarao11233 ай бұрын

    If I click ur link directly open the Google Chrome Google sheet. Google sheets not showing the download option.. please guide me

  • @jaiganesh5431
    @jaiganesh54316 ай бұрын

    80ccd2 sec new tax regime சேர்க்கலாமா...🙏

  • @ismailm7643
    @ismailm76433 ай бұрын

    I am retired in March 23 from PSU Govt. Service. After IT return filing in July 23, my Management has deducted Jan to March cafeteria amount Rs.68000/- and for which 30% TDS also already deducted before March 23 just before my retirement. This Rs.68000/- was paid back to my company enable to sanction Pension for me. How to get back or adjust excess IT paid 30% on Rs.68000/- which was deducted as TDS for FY 2022-23

  • @nbewsxho523
    @nbewsxho5234 ай бұрын

    Hi bro, I have paying house debt loan can I declare for this??

  • @BusinessZonee
    @BusinessZonee4 ай бұрын

    PF/VPF new tax regim 23 - 24 la deduct aghuma sir ?

  • @irahulchintu
    @irahulchintu6 ай бұрын

    Please put detailed video for how to apply For PPF and it's limits complete dedicated video for only PPF please

  • @thinkingtamizha007

    @thinkingtamizha007

    6 ай бұрын

    Already available in our channel.. pl check

  • @santhosharthanari3298
    @santhosharthanari32984 ай бұрын

    Clear my doubt ji i am eligible for HRA of monthly 2500 so totally i will get 3000/year but my bank provide lease accommodation for my rental house of 5000/month so 6000/year.So bank will not provide 30,000 of HRA in payslip, Do i am eligible for claiming HRA EXEMPTION in old tax regime?? If i am eligible how much? Kindly clarify bro.....

  • @mohankumarhema6119
    @mohankumarhema61192 ай бұрын

    Sir request enoda sors la irunthu 2year ku 40000 rs kattiran sir

  • @vinarasan
    @vinarasan4 ай бұрын

    Sir any tax applicable for NRI???

  • @sivasakthit4769
    @sivasakthit47696 ай бұрын

    In the deduction (Google sheet cell number H6), Shall we directly add children education fees? or will it be included in the 80C only. Kindly clarify

  • @Ranisri18

    @Ranisri18

    2 күн бұрын

    80C only

  • @mohitha1301
    @mohitha13015 ай бұрын

    🙏🙏🙏🙏🙏🙏

  • @sd2949
    @sd29492 ай бұрын

    Any thing missing If i am right under sec 80TTD Interest rebate 10000/ மற்றவை ok and satisfactory

  • @arumugamb6490
    @arumugamb64905 ай бұрын

    dear sir . iam not woorking company. iam only invest in share market. i have get long team capital gain 450000+ saveing a/c interest 6000 per year. and i have 80C 45000. & 80D 19500. pl send my tax calculation . thanks

  • @MrMechmanoj
    @MrMechmanoj5 ай бұрын

    Marginal relief in new tax regime unda sir

  • @dev4tech_
    @dev4tech_6 ай бұрын

    In the New tax regime we have to submit HRA bill...?

  • @thinkingtamizha007

    @thinkingtamizha007

    6 ай бұрын

    HRA exemption is not applicable for New tax regime

  • @Rajnano_vlogm
    @Rajnano_vlogm4 ай бұрын

    @thinking thamiza, I have 2 doubt. 1. Which section gold chit can show for IT. 2. Can i show Land loan in section 80C?

  • @thinkingtamizha007

    @thinkingtamizha007

    4 ай бұрын

    No for both.

  • @Rajnano_vlogm

    @Rajnano_vlogm

    4 ай бұрын

    @@thinkingtamizha007 ok, Thank you

  • @chellammalvaradharajan2916
    @chellammalvaradharajan29166 ай бұрын

    sir 80c and 80d pls explain clearly sir. bcz I am paid the life insurance payment Rs.12000/month. how to calculate in 80c. pls explain sir

  • @thinkingtamizha007

    @thinkingtamizha007

    6 ай бұрын

    Already videos available in our channel.. pls watch our income tax playlist

  • @kirubanandshanmugavel3096
    @kirubanandshanmugavel30963 ай бұрын

    Can avail both HRA and Home Loan, limit, under which section?

  • @thinkingtamizha007

    @thinkingtamizha007

    3 ай бұрын

    Yes.. both are different sections.. Explore our channel videos, we have discussed these in detail..

  • @adeen935
    @adeen9356 ай бұрын

    Hi, Naa IT la work pannurean, then freelance um pannurean, freelanceku naa income Tax add pananuma?? then yellam month income varathu 3 month varun then after 2 to 3 month varathu appo naa yeppai calculate pannurathu Please tell me

  • @thinkingtamizha007

    @thinkingtamizha007

    6 ай бұрын

    Yes.. you must pay income tax for it.. doesnt matter 1 month or 3 month or 12 months..

  • @r.v.pandicivil
    @r.v.pandicivil6 ай бұрын

    Tax calculated old nu video la podu, new tax related video podu erukeka..

  • @thinkingtamizha007

    @thinkingtamizha007

    6 ай бұрын

    Enna pa solra..

  • @MuthukumaranJ-zs6fy
    @MuthukumaranJ-zs6fy3 ай бұрын

    Bro calculator sheet request access kekuthu

  • @thinkingtamizha007

    @thinkingtamizha007

    3 ай бұрын

    Go to files>download as excel

  • @geethaa3505
    @geethaa35055 ай бұрын

    33500 1 year oda tax ah sir

  • @parker2132
    @parker21325 ай бұрын

    Upto 7 lakh no income tax right

  • @sreenivasanramanujam9393
    @sreenivasanramanujam93933 ай бұрын

    What about source deductions?

  • @thinkingtamizha007

    @thinkingtamizha007

    3 ай бұрын

    Do you mean Tds?

  • @smanish24
    @smanish244 ай бұрын

    health insurance premium section 80D.not 80c

  • @thinkingtamizha007

    @thinkingtamizha007

    3 ай бұрын

    Its mentioned as 80D only

  • @karthikeyanm9315
    @karthikeyanm93153 ай бұрын

    Bro, section c and nps clarification venum

  • @thinkingtamizha007

    @thinkingtamizha007

    3 ай бұрын

    Already there in our channel. Explore playlists on 80C

  • @sivaramasubramaniansomasun3772
    @sivaramasubramaniansomasun3772Ай бұрын

    Scss applicable for 80C deductions?

  • @Ranisri18

    @Ranisri18

    2 күн бұрын

    Yes

  • @veerasathiskumarkanagaraj67
    @veerasathiskumarkanagaraj676 ай бұрын

    Sheet is not working for editing

  • @thinkingtamizha007

    @thinkingtamizha007

    6 ай бұрын

    You cant edit.. you need to download..

  • @gopinath94429

    @gopinath94429

    6 ай бұрын

    How to download the sheet..not able to download sir

  • @lokeshglengaming4744
    @lokeshglengaming47446 ай бұрын

    Please make a video on 80ccd 80ccd (1) 80ccd(2) 80ccd 1b

  • @thinkingtamizha007

    @thinkingtamizha007

    6 ай бұрын

    Already discussed in our nps video bro

  • @ekambarampachaiyappan3181
    @ekambarampachaiyappan31812 ай бұрын

    You don't have clarity on gr salary, exemption ,deductions, taxable income etc. in Stead OF RENT PAID YOU MENTIONED HOUSE RENT ALLOWACE. Taxable income arrives after considering exemption and deduction. example 1. pl replace HRA by RENT PAID. HRA will be included in your salary. From taxable income NOTHING CAN BE DEDUCTED. ONLY FROM GRAND SALARY THESE ARE ALLOWED. PL PL DELETE THE VIDEO.

  • @thinkingtamizha007

    @thinkingtamizha007

    2 ай бұрын

    Watch the video carefully - its not mentioned as HRA, it is mentioned as ‘HRA exemption’. Note that you wont get exemption on entire rent paid, its on least of HRA, rent paid minus 10% of basic, 40% of basic.. thats what is shown here. There is a difference between gross taxable income and net taxable income..

  • @mohankumarhema6119
    @mohankumarhema61192 ай бұрын

    Hi sir my name is mohankumarmathi

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