This video is an act of public service and should be part of either corporate training or college curriculum at the very end so we atleast get acquainted with terms. Kudos to the team to come up with this in such a crisp manner. Since the past 2 years, not only have I started with this video, but I have circulated it with everyone in my circle who came running to me asking to explain what taxable income is.
It is just crazy that we have accepted this overly complicated tax system over so many years to just know how much we are required to pay in tax. Hoping the new tax regime somehow works out and makes our lives simpler.
@@ETMONEY I liked the video too.. one suggestion.. pls place the content at a stretch on your left..so that viewer has some time to look parallely when u r talking.
I appreciate your lucidity of language in explaining the most feared subject. Also, please explain as to how one should calculate the rental paid by employer for leased house for employees. Regards.
Very good and easy approach of awareness and understanding about income tax. Very very thankful to ETmoney team. Please ETmoney team continue to make this type of awesome video.
Thank you so much 😀. Do share what you like with your friends and family in their whatsapp and facebook groups, this will help us reach more consumers who'll appreciate such information
Very informative. I have one question - where and how exactly we disclose the income from mutual funds while filing the income tax? Also how do we handle stcg and Ltcg?
@@ETMONEY hey thanks. I am asking how the total tax for me will be calculated if I am a salaried class person with gains on Mutual funds. Which itr form should I fill? it will be very good if you guys can make a video for this with an example as you have shown in the income tax video. Just add a investment for that person and calculate the exact tax to be paid.
For home loan-Under 80C we get deduction of amount equivalent to Principal paid. Is it correct? Also,Does the interest paid on that loan also form part of deductions?
For example , income source only job So company deduct kr krti h but kya agar incentives earn krte h jo kabhi kam ya zyada hota rhta h tih , kya us par khud ko itr file krna hota hai , ya phir company khud he krti h , please reply ?
We can also get tex benefit on leave encashment but my question is If I leave organization within a year and got Leave Encashment in FnF Can I show that in ITR and save tax on that amount or I am not eligible as I left within one years ??
Dear Venkat Rao: We have a separate video for that. For equity capital gains: ua-cam.com/video/G-DFuEi7NcA/v-deo.html For debt capital gains: ua-cam.com/video/Gj3o4jMzfRw/v-deo.html
Res CA Sir🙏 I have one? For domestic company🙏 if total income ₹.55Lakhs will he be applicable for 87A how 🙏please explain by computation along with old slab AY 2014_15 (I've came seen in one problem but misplaced taht page.)
I have a question...If one decides not to withdraw the EPF amount after 58, then how pension calculation is done? Also how do we find out how much is deposited in EPS?
I see different methods for calculating income tax. If my total net income is 10 lakhs, some calculate 15% of 10 lakh = 150000. But according to your method it would be : 2.5 lakth= 0; 2.5-5 lakh = 12,500 + 5-7.5 lakh = 25000 + 7.5-10 lakh = 37500, a total of 75000. That is half the first calculation. Which is the right method? And why would websites and others calculate it the first way in the first place? I'm confused.
my mom have health insurance. She was recently hospitalized and received the bill of amount 4 lakhs as cashless treatment. Do my my need to treat this 4 lakhs as her income or not? What is the treatment for this 4 lakhs as per income tax law? Her income from salary is about 11 lakhs per annum. Thank you.
I purchased the property in the name of my mother and availed housing loan. My mother is not an income tax assessee as she is a house wife. And i am myself paying the EMI. Also I paid the amount for registration and stamp duty also. Can i claim for registration and stamp duty exceptions while filing ITR?
This video is an act of public service and should be part of either corporate training or college curriculum at the very end so we atleast get acquainted with terms. Kudos to the team to come up with this in such a crisp manner. Since the past 2 years, not only have I started with this video, but I have circulated it with everyone in my circle who came running to me asking to explain what taxable income is.
The memes saying that indian guys tutorials onnyoutube save lives... They werent lying!!!
Yah everytime
❤️❤️ respect for these indian youtube guys
@@cooldragoncool3046 fd6rgd
But these are under Indian law , how can foreigners have same laws and deductions? Tell me I'm confused!!
It is just crazy that we have accepted this overly complicated tax system over so many years to just know how much we are required to pay in tax. Hoping the new tax regime somehow works out and makes our lives simpler.
It's for saving their friends'(crony capitalists) taxes
this video reminds me of old times when videos were simple yet very informative.
I appreciate the way everything has been presented in the video including your body language. Good job.
So nice of you. Thanks a lot
@@ETMONEY I liked the video too.. one suggestion.. pls place the content at a stretch on your left..so that viewer has some time to look parallely when u r talking.
L rlo mm mm C
Great video. No bs and straight up info which is engaging enough for all 7:36 minutes
Thank you
Very easy to calculate tax after such elaborative explanation
This guy is insanely great. More videos from him.
Thank you
Nicely explained. And a huge thanks for making the video in English.
Glad it was helpful!
I appreciate your lucidity of language in explaining the most feared subject. Also, please explain as to how one should calculate the rental paid by employer for leased house for employees. Regards.
Thank you. Sorry, we aren't clear on how that is done. You'll need to consult a tax advisor or read up on the Internet. Apologies
Very good and easy approach of awareness and understanding about income tax. Very very thankful to ETmoney team. Please ETmoney team continue to make this type of awesome video.
Thank you Vishesh Patel
@@ETMONEY aaà
Very helpful explanation... I tired to learn from various source before but could not got satisfied answer
Just to add, You can claim HRA Exemption if you are living in Parent's house by paying monthly rent in their A/c.
bhai please mujhe thoda HRA exemption
samjha do ...
with respect i became huge fan of you while i watched your videos fabulous presentation
Thank you so much 😀. Do share what you like with your friends and family in their whatsapp and facebook groups, this will help us reach more consumers who'll appreciate such information
"assets yogi" is better than this channel.
Y cant teachers explain good like him people would be so much smarter
It's soo clear and classy. Thanks 😊
You're welcome 😊
Ur TEACHING IS REMARKABLE 👍👍
Example of Akash was a go to winner
My income tax syllabus summary ❤️
Very helpful video
Your way of teaching is really nice .Congrats for making the video easy and understandable.
Thanks a lot
Thanku sir u made it very simple🙂
Most welcome 😊
You saved my life. Thank you
Sir, your voice is very very pleasant. Your way of narration is excellent. 👏👏👏👏 👍👍👍👍
Thanks a lot
Cleared all my doubts related to income tax
Nicely explained with good graphics....
Well done..👏 and thank you
Pretty cool and clear presentation. Thank you!!
You're very welcome!
Easily undestand income tax calculation sir,thanks you
You are most welcome
Excellent video and easy to understand kudos to ET money team 😀
Thank you very much
Intellectual content with Very good Presentation. Kudos to ET MONEY TEAM
Thanks
Very well explained. Thank you. Keep posting
Thank you Abhinav, we'll certainly up the ante
Super like. Thanks a lot!
Most welcome
Thank you so much for the valuable information. 🙏 Please continue the videos in English language. 👍
Well explained thank you so much
Glad it was helpful!
That's really informative. Thanks a lot.
Glad it was helpful! Thx
A good presentation. I missed the senior citizens tax deductions, etc. Hope you cover it up in your coming videos. Thanks
Thanks HL Chopra. Yes, we'll try to cover that.
Brilliant video 🥰
Thank you 🤗
Amazing.. thankyou so much
Most welcome 😊
Thank you for explaining it in a layman's term. You made this very easy to understand. keep it up.
You are most welcome! Glad you found it useful
Thank you so much.. Nicely explained
You are most welcome
Education and swacch bharat cess come in the picture as well for the final tax I believe.
Very informative. Thanks for creating such financial videos👍👍
Very good and easily explained 😊
Thanks a lot 😊
Wao yaar u r really superb all doubt clear
Thank u so much sir ❤️❤️❤️
Most welcome
Thanks, it is well understood.
Great content loved the way of explanation.
Glad you liked it! Thanks
This guy is good as teacher as well as a model of jockey at the same time..
Awesome sir
Thx
Very informative. I have one question - where and how exactly we disclose the income from mutual funds while filing the income tax? Also how do we handle stcg and Ltcg?
@@ETMONEY hey thanks. I am asking how the total tax for me will be calculated if I am a salaried class person with gains on Mutual funds. Which itr form should I fill? it will be very good if you guys can make a video for this with an example as you have shown in the income tax video. Just add a investment for that person and calculate the exact tax to be paid.
Superb presentation
Thanks a lot
Thanks for the explanation but if HRA and LTA are removed while calculating tax , I’m confused do we get full amount of it in salary ?
For home loan-Under 80C we get deduction of amount equivalent to Principal paid. Is it correct? Also,Does the interest paid on that loan also form part of deductions?
No ! deduction is available only for the principal amount
@@rishavrajsingh5342 Thanx
Interest paid on home loan upto 2 lakhs can be claimed as deduction under Section 24. It doesn't come under section 80C.
very good explanation
Thank you
Happy morning. Sir,
Can we adjust DP charges , DP AMC and pledging & unpledging charges from the capital gain? Seek your views please.
Thank you so much. It is really informative.
Thank u for explaining... Esp in English. Can't understand Hindi
Thanks!
Sir pls do a complete video on GST ITS JOURNAL ENTERIES AND ALL ABT THE RETURNS TO B FILED
Good morning. The video is very informative. Do u have an IT calculator for a consultant. Or videos on this
Thank you. Sorry, we dont have an income tax calculator
Really helpful sir! Thanks a lot
Hi Team, does gross salary also include - 1. Pf paid by employer
2. Pf paid by employee
3. Gratuity
4. Insurance provided by employer??
gross salary is all about CTC (which is inclusive of all the above you mentioned)
Awesome video, Very easy to understand and thanks for tips to save more.
gross taxable income is not explained earlier, is it same as Net income?
For example , income source only job
So company deduct kr krti h but kya agar incentives earn krte h jo kabhi kam ya zyada hota rhta h tih , kya us par khud ko itr file krna hota hai , ya phir company khud he krti h , please reply ?
What is the tax bracket for employees on Contractual job
It depends on the income.
Detailed explanation, good. But background music is disturbance
Is it okay if property is given to parents as gift deed and one can show HRA for gifted property??
Very well explained and presented...🙏
टैक्स ग्रास सैलरी पर कैलकल्ट होगी या अकाउंट क्रेडिट अमाउंट पर
Excellent
Excellent video, thank you. Please create one similar video for Individual Freelancer tax calculation.(no salary income)
Thanks!
Can we subtract conveyance allowance from gross income to find net salary?
We can also get tex benefit on leave encashment but my question is If I leave organization within a year and got Leave Encashment in FnF
Can I show that in ITR and save tax on that amount or I am not eligible as I left within one years ??
You missed to include ltcg in the calculation. Can you please include it as well in example.
Dear Venkat Rao: We have a separate video for that.
For equity capital gains: ua-cam.com/video/G-DFuEi7NcA/v-deo.html
For debt capital gains: ua-cam.com/video/Gj3o4jMzfRw/v-deo.html
Excellent
Thanks
Sir please tell nps section 80CCD2 employer contribution we have add to our gross salary and then to calculate income tax
So nice explanation
How about the latest LTC tax exemption for private employees in FY 2020-21? Can it be claimed while ITR filing, if employer doesn't support?
Res CA Sir🙏 I have one? For domestic company🙏 if total income ₹.55Lakhs will he be applicable for 87A how 🙏please explain by computation along with old slab AY 2014_15 (I've came seen in one problem but misplaced taht page.)
I have a question...If one decides not to withdraw the EPF amount after 58, then how pension calculation is done? Also how do we find out how much is deposited in EPS?
Excellent ✌️👍
Thanks
I see different methods for calculating income tax. If my total net income is 10 lakhs, some calculate 15% of 10 lakh = 150000. But according to your method it would be : 2.5 lakth= 0; 2.5-5 lakh = 12,500 + 5-7.5 lakh = 25000 + 7.5-10 lakh = 37500, a total of 75000. That is half the first calculation. Which is the right method? And why would websites and others calculate it the first way in the first place? I'm confused.
@@ETMONEY Thank you for the clarification. Its been confusing using online calculators.
15000 for medical insurance every month????
Or year?
6:45
Year
@@ETMONEY Thank you !!
We need to pay income tax monthly or annually??
sir, can one do his own taxes without the help of a CA.
my mom have health insurance. She was recently hospitalized and received the bill of amount 4 lakhs as cashless treatment. Do my my need to treat this 4 lakhs as her income or not? What is the treatment for this 4 lakhs as per income tax law? Her income from salary is about 11 lakhs per annum. Thank you.
Can u pls share the tax slabs for Contractual employees
Is net income is for complete year
Nice video 👍🏼
Thanks 👍
WTF man. You guys are superheroes saving the world. This is the best video on tax.
I purchased the property in the name of my mother and availed housing loan. My mother is not an income tax assessee as she is a house wife. And i am myself paying the EMI. Also I paid the amount for registration and stamp duty also. Can i claim for registration and stamp duty exceptions while filing ITR?
Hi. Apologies, we don't know the specifics. Request you to consult a tax advisor
Thanks
👍
Very well explained, thank you
What is tax exemption, I am expecting from basics
Whether we can show in 80C itr deduction employer contribution of NPS amount.?
In section 80 C you can only show deduction the employee
Great 👍
If dad gives a pocket money or lend you extra money, do we include that for tax?
Thanks you
Most welcome
Example : 07:35
what are standard deductions??
I want to invest in tax saver MF in ET money. How can I get certificate of investment for uploading in itr in ET money app.