Income Tax Calculator 2024-25 Excel Download [FREE] | Income Tax Calculation

Income Tax Calculator 2024-25 Excel Download [FREE] | Income Tax Calculation Old vs New Tax Regime
In this video by FinCalC TV we will see Income Tax Calculation examples for FY 2024-25 AY 2025-26 with comparison of old and new tax regime in excel calculator in hindi. Standard deduction is applicable in new tax regime and old tax regime and also 7 lakh income will not attract any tax under new tax regime due to tax rebate under Section 87A.
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After watching this video following queries will be solved:
How To Calculate Income Tax FY 2024-25 in excel?
Income Tax Calculator Excel download
Income Tax Calculator 2024-25 Excel download
What are the income tax slab rates for FY 2024-25?
What is standard deduction for FY 2024-25?
Old Slab rates vs new slab rates?
Income Tax calculation FY 2024-25 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 2024 income tax
standard deduction new tax regime
NEW TAX REGIME:
- No Income Tax on Income between Rs. 0 to Rs. 3 lacs
- 5% Tax on Income between Rs. 3 lacs to Rs. 6 lacs
- 10% Tax on Income between Rs. 6 lacs to Rs. 9 lacs
- 15% Tax on Income between Rs. 9 lacs to Rs. 12 lacs
- 20% Tax on Income between Rs. 11 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 #Excel #TaxCalculation #fincalc
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DISCLAIMER:
Examples and demo used are for Illustration purpose only and might not cover every detail of examples shown.
I Am Not A SEBI Registered Adviser. All The Information Provided By Me Are For Educational/Informational Purposes Only. We Do Not Take Any Responsibility For The Accuracy Of The Data But As It May Contain Typographic Or Other Errors And Inaccuracies And We Expressly Disclaim Liability For Any Errors On The UA-cam Channel (FinCalC TV). Please consult your Financial Advisor before taking any decision or action in terms of your Finances.

[@fincalc]

Income Tax Calculator Excel Download Video kaisa laga? COMMENT KARO 👇👇
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[@Tinkujia2749]

Nsc mature hone per itr mai show karne padega ya yearly, kvp maturity per itr mai show karne parta hai ya yearly becoz paisa to maturity per milta hai sir

[@user-vz2ke4zq2g]

pls update a dedicated column for 80CCD2 contributions in New tax regime to ensure accurate tax calculations and compliance with the latest regulations.
In both the Excel spreadsheet (XLS) version and online platform.
For easy access and convenience.
To maintain accuracy and transparency

[@user-vz2ke4zq2g]

Please add 80CCD2 column in new regime for tax calculation

[@user-vz2ke4zq2g]

Please add 80CCD2 column in new regime tax calculation both in xls and online

[@rameshwadile9632]

Nice

[@TrueWordLov]

Salary account me jyada paise pade ho to kya ghaata hoga..kya kare ki tax se bache??

[@sanjaysmartzz5725]

Hi Sir,
I'm a salaried employee, My overall in-hand salary is 5.68L fo the FY2023-24. And my Short Term Capital Gain is around 2500 for the year FY 2023-24. Do I need to pay STCG tax??

[@ajitmhatre6199]

These in not latest one correct?

[@fincalc]

it is for FY 2024-25