Скачать или смотреть New Tax Regime vs Old Tax Regime | New Income Tax Slab 2023-24 | Income Tax Calculation FY 2023-24

New Tax Regime vs Old Tax Regime | New Income Tax Slab 2023-24 | New Tax Calculation FY 2023-24 | #budget2023





You will Learn from This Video -

1) Old Tax Regime Slab 2022-23
2) 5 Lakh Income Tax Calculation
3) New Tax Slab 2023-24
4) 7 Lakh Income Tax Calculation
5) Old Tax Slab vs New Tax Slab
6) Income Tax Calculation



About This Video -

In this video we are discussing about New Tax Regime Slab vs Old Tax Regime Slab .

Old Tax Slab -

0 to 2.5 Lakh - Nil
2.5 to 5 Lakh - 5%
5 to 10 Lakh - 20%
above 10 Lakh - 30%

Old Tax Deductions -

1) Standard Deduction - 50,000
2) Section 80C - 1,50,000
3) 80TTB - 50,000
4) NPS - 50,000
5) HRA - 1,00,000
6) Section 24 - 2,00,000
7) 80D - 50,000

We have maximum deduction of Rs 6,50,000 . but A salaried person average claim of deduction is 2,00,000 to 2,50,000 .

Old Tax Rebate Amount is 12,500 under Section 87A .

Let's have an example of Salaried person having salary of 5,00,000 Rs Annually .
Then Tax Calculation by Old Tax Regime Tax will be Rs 10,000 . but after Tax Rebate it will remain Zero .
then let's have an another example of a person whose salary is 5,50,000 annually .
Then Tax Calculation by Old Tax Regime will be 12,500 . But after Tax Rebate it will remain Zero .



New Tax Slab -

0 to 3 Lakh - Nil
3 to 6 Lakh - 5%
6 to 9 Lakh - 10%
9 to 12 Lakh - 15%
12 to 15 Lakh - 20%
above 15 Lakh - 30%

New Tax Regime Deduction -

There is only Standard Deduction of Rs 50,000 by New Budget Rule .

Tax Rebate Amount is Rs 25,000 on Taxable income 7 Lakh .

Let's have an example of Salaried person having salary of 7,00,000 Rs Annually .
Then Tax Calculation by New Tax Regime Tax will be Rs 20,000 . but after Tax Rebate it will remain Zero .
then let's have an another example of a person whose salary is 7,50,000 annually .
Then Tax Calculation by New Tax Regime will be 25,000 . But after Tax Rebate it will remain Zero .


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