No Income Tax up to 7.5 Lakh with Tax Rebate 87A
No income tax upto 7.5 Lakh in FY 2023-24. standard deduction of Rs. 50,000 and Tax Rebate of Rs. 25,000 makes your income tax as Zero..
standard deduction
What is Standard Deduction for Salaried Employees
Standard Deduction limit is Rs. 50,000 for 2023-24. Example: Gross income = Rs. 6,00,000, Std Deduction = Rs. 50,000, Taxable Income = Rs. 5,50,000..
All Deductions in Section 80C & Chapter VI A
Deductions in 80C include, PPF, Provident Fund, Life insurance premiums, ELSS, children’s tuition fees, etc. Claim Rs 1.5 Lacs in 80C and Rs. 50,000 in 80CCD(1B)
Income Tax Calculation 2022-23 Excel Calculator [VIDEO]
Income Tax Calculation 2022-23.. For example if your income is Rs. 8 Lacs in FY 2022-23, so Income Tax based on Old Tax Regime = Rs. 75,400 and New Tax Regime = Rs. 46,800..