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What Common Men Got in Budget 2023

Income Tax Wala: (Fin. Expert) (Chartered Accountants) (2015 Points)

04 February 2023

check my video and it is very very useful

https://www.youtube.com/watch?v=EvG8kn6ALWg&t=71s

if you have any question of Doubt . write in comments

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10 Replies

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 05 February 2023

👍🏻👍🏻👍🏻

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MPR Sanjay Kumar (3113 Points)
Replied 05 February 2023

@ CA sudesh Kumar Gupta sir,

I have a crucial doubt regarding computation of tax payable in total income.

for an example miss shwetha Jain is a resident of india ,his total income is RS 8,50,000 she opt new scheme 2023-24

now I need computations of tax payable calculations please explain me

Income Tax Wala: (Fin. Expert) (Chartered Accountants) (2015 Points)
Replied 05 February 2023

Originally posted by : MPR Sanjay Kumar
	@ CA sudesh Kumar Gupta sir,I have a crucial doubt regarding computation of tax payable in total income.for an example miss shwetha Jain is a resident of india ,his total income is RS 8,50,000 she opt new scheme 2023-24 now I need computations of tax payable calculations please explain me

I assumed your income is from salary:

Your Income 850000

Less: St. Deduction -50000

Taxable Income 800000

Tax for F.Y. 23-24 35000

Add: Cess 4% 1400

TOTAL TAX LIABILITY 36400

Note:

1. if your income is not from salary than tax liability would be 41600/-

MPR Sanjay Kumar (3113 Points)
Replied 05 February 2023

@ honourable sudesh Kumar Gupta sir , 35,000 how came ,could you please draft that calculation for my Clear view ...plse sir my honourable

Income Tax Wala: (Fin. Expert) (Chartered Accountants) (2015 Points)
Replied 05 February 2023

Originally posted by : MPR Sanjay Kumar
	@ honourable sudesh Kumar Gupta sir , 35,000 how came ,could you please draft that calculation for my Clear view ...plse sir my honourable

Particulars	Budget NEW TAX REGIME
Particulars	Calculation Slabs	Amount
Salary Income		8,50,000
Less: Standard Deduction		50,000
Taxable Income		8,00,000
Tax	First 3.00 Lacs	Nil
	Next 3.00 @ 5%	15000
	Next 2.00 @ 10%	20,000
Total Tax		35,000

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sabyasachi mukherjee (27529 Points)
Replied 06 February 2023

How can you compute tax like that ?gti is not there.

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 07 February 2023

No much benefit for common man unless you are a tax payer

Income Tax Wala: (Fin. Expert) (Chartered Accountants) (2015 Points)
Replied 07 February 2023

My self CA Sudesh Kumar Gupta. In this video I have explained what is House Rent Allowance and how an employee can take an exemption in House Rent Allowance and Home loan at the same time and how much exemption can be taken.

CLICK ON FOLLOWING LINK

https://www.youtube.com/watch?v=SBjxHpO2ybw&t=529s