Income Tax Calculation 2022-23 | How To Calculate Income Tax FY 2022-23 Excel Examples | Tax Slabs
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Income Tax Calculation 2022-23 |
Income Tax Calculation 2022-23 | How To Calculate Income Tax FY 2022-23 Excel Examples | Tax Slabs & Rebate
In this video by FinCalC TV we will see income tax calculation 2022-23 using excel formula and examples with online and excel calculators. We will discuss new tax slabs, tax rebate, how to calculate income tax FY 2022-23 on salary with examples using income tax calculator and formula in excel based on the budget 2022 applicable for AY 2023-24.
Also you will be able to choose between Old Tax Slab rates or New Tax Slab Rates based on your Tax calculation - Old Tax Regime vs New Tax Regime.
Using Old Tax Regime will allow you to make required investments and claim deductions under section 80C, sectio 80CCD1B, section 80D, etc. to save income tax. But this is not the case in New Tax Regime. New Tax Slab Rates does not allow investment deductions to be claimed to save income tax since these are reduced Tax Slab Rates.
ONLINE INCOME TAX CALCULATOR:
https://fincalc-blog.in/income-tax-ca...
DOWNLOAD ANDROID APP "FinCalC":
https://play.google.com/store/apps/de...
DOWNLOAD INCOME TAX EXCEL CALCULATOR:
https://fincalc-blog.in/income-tax-ca...
ALL EXCEL CALCULATORS VIDEOS:
All EXCEL Calculators
CHAPTERS:
00:00 Income Tax Calculation 2022-23 Intro
02:06 Income Tax Slab Rates (Old vs New Tax Regime)
04:02 How to Calculate Income Tax FY 2022-23
05:04 Example 1 for Salaried Employees
05:53 Save Income Tax using Deductions
07:47 Example 2 for Income Tax on Salary
08:51 Slab wise Income Tax Details
09:41 Income Tax Calculation using Excel
11:03 Example 1 Tax Calculation in Excel with formula
12:02 Slab wise Tax Calculation Details
15:28 How to pay ZERO Income Tax? (Tax Rebate)
17:17 Example 2 Tax Calculation in Excel with formula
18:24 Understanding Income Tax in Graph Representation
19:23 More Excel Calculator Videos
20:34 Income Tax Calculation 2022-23 Conclusion
Save Income Tax Video:
How to Save Income Tax in India | 6 T...
After watching this video following queries will be solved:
How To Calculate Income Tax FY 2022-23?
What are the income tax slab rates for FY 2022-23?
What is standard deduction for FY 2022-23?
Old Slab rates vs new slab rates?
Income Tax calculation FY 2022-23 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 2022 income tax
NEW 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
- 10% Tax on Income between Rs. 5 lacs to Rs. 7.5 lacs
- 15% Tax on Income between Rs. 7.5 lacs to Rs. 10 lacs
- 20% Tax on Income between Rs. 10 lacs to Rs. 12.5 lacs
- 25% Tax on Income between Rs. 12.5 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 #FY2022-23 #ExcelCalculator #IncomeTaxCalculation #Excel #Calculator #FinCalCTV
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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.
In this video by FinCalC TV we will see income tax calculation 2022-23 using excel formula and examples with online and excel calculators. We will discuss new tax slabs, tax rebate, how to calculate income tax FY 2022-23 on salary with examples using income tax calculator and formula in excel based on the budget 2022 applicable for AY 2023-24.
Also you will be able to choose between Old Tax Slab rates or New Tax Slab Rates based on your Tax calculation - Old Tax Regime vs New Tax Regime.
Using Old Tax Regime will allow you to make required investments and claim deductions under section 80C, sectio 80CCD1B, section 80D, etc. to save income tax. But this is not the case in New Tax Regime. New Tax Slab Rates does not allow investment deductions to be claimed to save income tax since these are reduced Tax Slab Rates.
ONLINE INCOME TAX CALCULATOR:
https://fincalc-blog.in/income-tax-ca...
DOWNLOAD ANDROID APP "FinCalC":
https://play.google.com/store/apps/de...
DOWNLOAD INCOME TAX EXCEL CALCULATOR:
https://fincalc-blog.in/income-tax-ca...
ALL EXCEL CALCULATORS VIDEOS:
All EXCEL Calculators
CHAPTERS:
00:00 Income Tax Calculation 2022-23 Intro
02:06 Income Tax Slab Rates (Old vs New Tax Regime)
04:02 How to Calculate Income Tax FY 2022-23
05:04 Example 1 for Salaried Employees
05:53 Save Income Tax using Deductions
07:47 Example 2 for Income Tax on Salary
08:51 Slab wise Income Tax Details
09:41 Income Tax Calculation using Excel
11:03 Example 1 Tax Calculation in Excel with formula
12:02 Slab wise Tax Calculation Details
15:28 How to pay ZERO Income Tax? (Tax Rebate)
17:17 Example 2 Tax Calculation in Excel with formula
18:24 Understanding Income Tax in Graph Representation
19:23 More Excel Calculator Videos
20:34 Income Tax Calculation 2022-23 Conclusion
Save Income Tax Video:
How to Save Income Tax in India | 6 T...
After watching this video following queries will be solved:
How To Calculate Income Tax FY 2022-23?
What are the income tax slab rates for FY 2022-23?
What is standard deduction for FY 2022-23?
Old Slab rates vs new slab rates?
Income Tax calculation FY 2022-23 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 2022 income tax
NEW 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
- 10% Tax on Income between Rs. 5 lacs to Rs. 7.5 lacs
- 15% Tax on Income between Rs. 7.5 lacs to Rs. 10 lacs
- 20% Tax on Income between Rs. 10 lacs to Rs. 12.5 lacs
- 25% Tax on Income between Rs. 12.5 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 #FY2022-23 #ExcelCalculator #IncomeTaxCalculation #Excel #Calculator #FinCalCTV
============================
LIKE | SHARE | COMMENT | SUBSCRIBE
Mujhe Social Media par FOLLOW kare:
Facebook : Facebook: fincalctv
Twitter : Twitter: FincalcTV
BLOG: https://fincalc-blog.in
Telegram: https://t.me/fincalc_tv
Instagram: 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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