Income Tax Slabs 2023-24 with Calculations | New vs Old Tax Regime [Hindi]

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264.8 هزار بار بازدید - 12 ماه پیش - Income Tax Slabs 2023-24 with
Income Tax Slabs 2023-24 with Calculations | New vs Old Tax Regime [Hindi]
In this video by FinCalC TV we will see Income Tax Slabs 2023-24 with tax Calculations. We will also see investment options available in old and new tax regimes along with which tax regime is better for you in hindi. Income tax slabs 2023-24 kya hai.

Income Tax Calculator:
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Income Tax Slab 2023-24:
https://fincalc-blog.in/old-vs-new-ta...

Deductions available in new tax regime:
https://fincalc-blog.in/new-tax-slabs...

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CHAPTERS:
00:00 Income Tax Slabs 2023-24 Intro
00:46 Old Tax Regime Slab rates
01:36 New Tax Regime Slab rates
02:35 Tax Rebate 87A limits
03:31 Investment options to Save Income Tax
06:04 Deductions in new tax regime
07:32 Income Tax Calculation Examples
09:09 How much tax on Rs. 5 Lakh?
10:06 Income tax on Rs. 6 Lakh
11:21 Income tax on Rs. 7 Lakh
12:30 How much tax on Rs. 8 Lakh?
15:15 Income Tax excel 2023-24 download
16:00 Income Tax Slabs 2023-24 Conclusion

Tax rebate video:
Standard Deduction & Tax Rebate EXPLA...

HRA calculation video:
HRA Calculation in Income Tax | House...

Old Tax Regime Slab Rates 2023-24:
Rs. 0 – Rs. 2.5 Lakh 0%
Rs. 2.5 Lakh – Rs. 5 Lakh 5%
Rs. 5 Lakh – Rs. 10 Lakh 20%
Rs. 10 Lakh or above 30%

New Tax Regime Slab Rates 2023-24:
Rs. 0 – Rs. 3 Lakh 0%
Rs. 3 Lakh – Rs. 6 Lakh 5%
Rs. 6 Lakh – Rs. 9 Lakh 10%
Rs. 9 Lakh – Rs. 12 Lakh 15%
Rs. 12 Lakh – Rs. 15 Lakh 20%
Rs. 15 Lakh or above 30%

Notes:
- New Tax Regime will be default tax regime from FY 2023-24. You also have to option to choose old tax regime
- Standard Deduction of Rs. 50,000 will be available with new tax regime
- Tax rebate with new tax slabs 2023-24 will be Rs. 7 lakh instead of Rs. 5 lakh
- Tax exemption limit with new tax regime is Rs. 3 lakh instead of Rs. 2.5 Lakh

DEDUCTIONS AND EXEMPTIONS AVAILABLE IN NEW TAX REGIME
- Standard Deduction of Rs. 50,000 is available under New Tax Regime from FY 2023-24
- Transport allowance can be claimed in case of specially-abled person
- Conveyance allowance for employees received to meet conveyance expenditures
- Compensation received for cost of travel or tour
- Daily Allowance received as compensation for cost of living in some other place compared to regular place of working
- Deduction for employer’s contribution in NPS Account under Section 80CCD(2)
- Home Loan Interest amount under Section 24 in case of let-out property
- Deduction of amount paid or deposited in Agniveer Corpus Fund under Section 80CCH(2)
- Gifts up to Rs. 5000
- Exemption on voluntary retirement 10(10C), gratuity u/s 10(10) and Leave encashment u/s 10(10AA)

Old vs New tax regime which is better?
INCOME Old Tax Regime New Tax Regime BETTER?
₹ 5,00,000 ₹ 0 ₹ 0 Old / New
₹ 6,00,000 ₹ 0 ₹ 0 Old / New
₹ 7,00,000 ₹ 0 ₹ 0 Old / New
₹ 8,00,000 ₹ 0 ₹ 31,200 Old
₹ 9,00,000 ₹ 0 ₹ 41,600 Old
₹ 10,00,000 ₹ 0 ₹ 54,600 Old
₹ 11,00,000 ₹ 18,200 ₹ 70,200 Old
₹ 12,00,000 ₹ 39,000 ₹ 85,800 Old

#incometaxslab #taxslab #incometax #fincalc

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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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