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:
fincalc-blog.in/income-tax-ca...
Income Tax Slabs 2023-24:
fincalc-blog.in/old-vs-new-ta...
New Tax Regime Deductions Allowed:
fincalc-blog.in/new-tax-slabs...
DOWNLOAD Income Tax Calculator App on Mobile:
play.google.com/store/apps/de...
JOIN Telegram Group:
t.me/fincalc_tv_channel
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:
• HRA Calculation in Inc...
Tax Saving options with Old Tax Regime:
• SAVE Income Tax using ...
Section 80C Deductions List:
• Section 80C Deductions...
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.

Пікірлер: 104

  • @fincalc
    @fincalc7 ай бұрын

    Income Tax Calculation on Salary Video kaisa laga? COMMENT KARO 👇👇 Tax Saving Options: kzread.info/dash/bejne/faeXxrWxaabclso.html Income Tax Calculator: fincalc-blog.in/income-tax-calculator/ JOIN Telegram Group: t.me/fincalc_tv_channel

  • @KunalMahajan-pq3uf

    @KunalMahajan-pq3uf

    6 ай бұрын

    @fincalc bro ye excel sheet ka link bhejo bahut helpful he plz

  • @yogendrasahu121

    @yogendrasahu121

    6 ай бұрын

    Sir me gross amout 750971-50000=400971 aa raha h new tax regime me kitna tax aa raha h

  • @anirudhrai591

    @anirudhrai591

    6 ай бұрын

    Sir mai government quarters Mai rahati hu hra nahi milta so income tax kaise kare

  • @KunalMahajan-pq3uf

    @KunalMahajan-pq3uf

    6 ай бұрын

    Bhau, muze salary me HRA milta he...but muze wo HRA deduction nai Lena so ye case me kya hoga? Explain krna

  • @ravinderkaurkaur910

    @ravinderkaurkaur910

    5 ай бұрын

    Hello sir m Sir please btaye ki sip ki saving kon sy option m ani hai??

  • @MartinAdhikary-ng5be
    @MartinAdhikary-ng5be4 ай бұрын

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

  • @sanchitchakraborty8146
    @sanchitchakraborty81466 ай бұрын

    Insightful video 👍

  • @krishh_singh
    @krishh_singh4 ай бұрын

    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

  • @sandhyarawat1267
    @sandhyarawat12673 күн бұрын

    Very informative video and apke samjhane ka tarika bhot acha hain

  • @fincalc

    @fincalc

    3 күн бұрын

    thank you

  • @bommumahendarreddy3438
    @bommumahendarreddy34382 күн бұрын

    Nice video cleared all my doubts

  • @arun4846
    @arun48464 ай бұрын

    Very thankful sir ❤❤❤

  • @ignitedaspirants
    @ignitedaspirants5 ай бұрын

    Quality content ❤

  • @special_education_teacher
    @special_education_teacher4 ай бұрын

    Brilliant work

  • @ankitshukla5800
    @ankitshukla58003 ай бұрын

    Informative

  • @arun4846
    @arun48464 ай бұрын

    Very Good Explained sir sir ❤❤❤

  • @dipakmaity795
    @dipakmaity7957 ай бұрын

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

  • @KuldeepSingh-nq1vi
    @KuldeepSingh-nq1vi6 ай бұрын

    Nice Video Bro..

  • @NoVideo2024
    @NoVideo20245 күн бұрын

    Thank you

  • @fincalc

    @fincalc

    5 күн бұрын

    You're welcome

  • @KaranSingh-vr6pw
    @KaranSingh-vr6pw3 ай бұрын

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

  • @fincalc

    @fincalc

    3 ай бұрын

    thank you so much for your comment

  • @ankitshukla5800
    @ankitshukla58003 ай бұрын

    Keep it up the good work

  • @shaikkhasimbee7451
    @shaikkhasimbee745124 күн бұрын

    Superb explanation

  • @shadabshaikh2269
    @shadabshaikh2269Ай бұрын

    Appreciate

  • @dbadhikari4981
    @dbadhikari49814 ай бұрын

    Nice video

  • @tritamjoarder6373
    @tritamjoarder63737 күн бұрын

    outstanding 10/10👍👍👍👍👍👍

  • @shaikhishfaq19
    @shaikhishfaq195 ай бұрын

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

  • @nehaojha9213
    @nehaojha92135 ай бұрын

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

  • @AbhishekAnand-sy7go
    @AbhishekAnand-sy7go5 ай бұрын

    Sir salary slip me NPS deductions ko gross me consider kare ya na kare

  • @jadavjagdish1239
    @jadavjagdish12392 ай бұрын

    Jordar

  • @NarinderSingh-dh3cq
    @NarinderSingh-dh3cq5 ай бұрын

    Very Informative !!! can you provide this excel sheet ?

  • @firdausalam7069
    @firdausalam70692 ай бұрын

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

  • @Trd12345
    @Trd123455 ай бұрын

    Thank a lot.....sir

  • @fincalc

    @fincalc

    5 ай бұрын

    welcome

  • @nareshshorie5690
    @nareshshorie56906 ай бұрын

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

  • @ayyyyyy7890
    @ayyyyyy78904 ай бұрын

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

  • @SachinSingh-hy2fe
    @SachinSingh-hy2fe13 күн бұрын

    Very helpful

  • @fincalc

    @fincalc

    11 күн бұрын

    thanks

  • @RajeshKumar-RK71
    @RajeshKumar-RK713 ай бұрын

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

  • @lovkumar781
    @lovkumar7812 ай бұрын

    Fd interest add ni hoga kya annual income m?

  • @pratyushmondalofficial
    @pratyushmondalofficial5 ай бұрын

    Well explained

  • @fincalc

    @fincalc

    5 ай бұрын

    Thanks 👍

  • @SanaKhan-nz2ig
    @SanaKhan-nz2ig3 ай бұрын

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

  • @prithvib
    @prithvib4 ай бұрын

    Superb video

  • @fincalc

    @fincalc

    4 ай бұрын

    thanks

  • @priyarana3688
    @priyarana36884 ай бұрын

    Nice video sir

  • @fincalc

    @fincalc

    4 ай бұрын

    thanks

  • @TrueWordLov
    @TrueWordLov6 ай бұрын

    Are sir 6.35lac se uper old/new tax regime pe video bnao kaise karein aur invest kaha karein jisse ki 0 tax bne?

  • @TIME4rTRAVEL
    @TIME4rTRAVEL3 ай бұрын

    If already income tax deducting in my salary monthly, i have to pay tax or not, how to reduce my income tax already deducted amount, can i claim by HRA OR CAN I REDUCE AMOUNT DEDUCTING

  • @ashishsharma4853
    @ashishsharma48533 ай бұрын

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

  • @kirtimansingh4995

    @kirtimansingh4995

    2 ай бұрын

    No wala Standard deduction may jaega..

  • @MoonChandra-ti2dz

    @MoonChandra-ti2dz

    2 ай бұрын

    No

  • @subramaniyamm7200
    @subramaniyamm72006 ай бұрын

    Really awesome

  • @fincalc

    @fincalc

    6 ай бұрын

    Thanks a lot 😊

  • @ashggn
    @ashggn5 ай бұрын

    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.

  • @fincalc

    @fincalc

    5 ай бұрын

    Thanks. Here's the video on marginal relief kzread.info/dash/bejne/iq6c1piQdKeykpM.htmlsi=S7Q72FaiiyZeGyzw

  • @ishwarsingh3199
    @ishwarsingh31995 ай бұрын

    Sir ji m disabled employee hu kya muje 80u ki chhut new slab m milega 10:07

  • @me-241
    @me-2414 ай бұрын

    Sir conveyance allowance 1600*12=19200 Examptions le sakte hai kya after standerd deduction?

  • @nikitasachdeva668

    @nikitasachdeva668

    Ай бұрын

    Kr skte h?

  • @minitripathi5064
    @minitripathi50645 ай бұрын

    Great man🫡🫡

  • @fincalc

    @fincalc

    5 ай бұрын

    Thanks 👍

  • @PSoniganesh
    @PSoniganesh6 күн бұрын

    Bharne ki jarurat hai kya itr agar salary 5.28 l ho to

  • @subramaniyamm7200
    @subramaniyamm72006 ай бұрын

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

  • @fincalc

    @fincalc

    6 ай бұрын

    thank you

  • @ankitshukla5800
    @ankitshukla58003 ай бұрын

    New tax regime me koi revlbate nhi hota h tax rate hote? Ye point ka means

  • @vinayakrao4754
    @vinayakrao47547 ай бұрын

    Do I have to file ITR or pay tax if my salary gross income is 5.50 lpa, please clarify this doubt.

  • @fincalc

    @fincalc

    7 ай бұрын

    for salary of up to 5.5 lakh in year, income tax will be zero, but you need to file ITR just to inform govt. about your income and investments. It's better to do so check this video on how income tax will be zero with examples: kzread.info/dash/bejne/aIyOxZN7qaWynKw.html

  • @nbcworld2410
    @nbcworld24107 ай бұрын

    Disable person ke liye income tax calculation bata dijiye up to 1000000

  • @iSalmaniac_
    @iSalmaniac_6 ай бұрын

    Bhai TDS v to katega na .. wo to pay kr gi rhe na already

  • @nsudra8451
    @nsudra84515 ай бұрын

    Tax calculate march February or April to March??

  • @MeghaGupta-hh5mn
    @MeghaGupta-hh5mn4 ай бұрын

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

  • @fincalc

    @fincalc

    4 ай бұрын

    please use the income tax calculator here: fincalc-blog.in/income-tax-calculator/

  • @user-hg6eb6pn2u
    @user-hg6eb6pn2u6 ай бұрын

    Agar 23-24 me new tax regime lete hai to har sal new tax regime hi lena padega ya fir har sal choice milegi?

  • @kalpeshnirgun2857

    @kalpeshnirgun2857

    5 ай бұрын

    Har saal choice milti hai

  • @user-uz7dh3yo2f
    @user-uz7dh3yo2f3 ай бұрын

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

  • @gstaccountsolution3443
    @gstaccountsolution3443Ай бұрын

    Hello sir arrear amount salary slip se kaise milega

  • @surojit522
    @surojit5226 ай бұрын

    Mera ek doubt hein plz clear kare yeah jo 80k income tax hey agar koi claim nhi krte hein to yeah amount march ka salary se cut hoga kya agar cut hoga to usko kaise return kar sakte hein plz help me regarding this problem..,... Thank you

  • @fincalc

    @fincalc

    6 ай бұрын

    every month cut hota hai small amount (80k / 12), total 80K income tax hoga.. Tax deduction options use kar sakte ho Tax save karne ke liye. ye video dekho: kzread.info/dash/bejne/faeXxrWxaabclso.html aur ye vala bhi: kzread.info/dash/bejne/amSHpZOpdZC0pqQ.html

  • @sanyalsingh72
    @sanyalsingh723 ай бұрын

    New tax regime me 9 lakh wale income me 50k ka standard deduction claim karne ke baad 8.60L kaise hua 8.50 lakh hoga na..?

  • @sevaramparihar9111
    @sevaramparihar91112 ай бұрын

    How much non tax able income was during 2017_18 for female government employees. 150000 or 175000

  • @iam_varunsharma
    @iam_varunsharma4 ай бұрын

    Why does the employer deduct income tax only in specific months? Can someone please help me understand this?

  • @dipakmaity795
    @dipakmaity7957 ай бұрын

    Hello Sir Ji, Namaskar I am a 81% Divyangjan Employee (80 U) I want my benifit Rs. 125000/- Which Tax Regime is better for me. Please inform me. Thanks 😊

  • @Gaurav_padhai
    @Gaurav_padhai2 ай бұрын

    SIR TDS PE BHE VIDEO BNA DO PLEASE SIR 🙏🙏🙏

  • @rajaanu4131
    @rajaanu41314 ай бұрын

    Hi conveyane allowance not taken by you in new tax regime

  • @RishiKumar
    @RishiKumar4 ай бұрын

    700000 me 87a me kitna rebate hai ???

  • @nhchannel43
    @nhchannel434 ай бұрын

    I joined job in 25 Jan 2024. CTC is 9 lakhs per annum how to file for this year please suggest

  • @fincalc

    @fincalc

    4 ай бұрын

    ITR filing process will start from april 2024 up to july 2024 for FY 2023-24..

  • @vijaysharma-zb1tb
    @vijaysharma-zb1tb3 ай бұрын

    Ye excel sheet add kr do description me..

  • @phulapattidevi2006
    @phulapattidevi2006Ай бұрын

    My total annual income 1310000/-. Pl. calculate the income tax with old & new scheme.

  • @sudarsanpradhan6178
    @sudarsanpradhan617816 күн бұрын

    7.5 lakh earning govt employee's tax kasa bachai Please instruct 🙏

  • @pulkitsrivastava5890
    @pulkitsrivastava58907 ай бұрын

    80D ka kya hoga aur agar senior citizen hai toh kya alag hoga

  • @amankumarsingh1874

    @amankumarsingh1874

    6 ай бұрын

    I am a CA aspirants mere ko pta h

  • @smitasharma49
    @smitasharma49Ай бұрын

    My dad pension is 55,000 thousnd per month,will he need to pay income tax?pls response

  • @fincalc

    @fincalc

    Ай бұрын

    Yes based on calculator

  • @mahaveersingh1217
    @mahaveersingh1217Күн бұрын

    Standard deduction can be refunded ?

  • @fincalc

    @fincalc

    Күн бұрын

    standard deduction is a flat deduction available for salaried and pensioners

  • @Mt-kfs
    @Mt-kfs6 ай бұрын

    Jab gross mai se phehle-kar dia, fir dubara krr rehe ho

  • @vickygupta4263
    @vickygupta42633 ай бұрын

    Complicated

  • @aliaamirm8
    @aliaamirm8Ай бұрын

    Thank you

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