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Income tax kya hai | Rebate | Calculation | How to Save Income tax Explained in Hindi


Hello friends Friends, there are two types of taxes in our country Direct tax & Indirect tax The biggest tax that comes under direct tax is income tax So in this video we will know that What is Income tax Which people have to pay income tax and how much amount to pay? What happens to the amount that we pay on income tax Is it true that if we earn Rs 5 lakh then we do not need to pay income tax And the most important thing many people have to say That they earn 9 lakh rupees, they earn 10 lakh rupees or even more But still they do not have to pay tax So how do they save their tax And by adopting that method, how can we save our tax too? Let’s know Unlocking Something Income tax means आयकर As its name suggests, the tax is levied on the income of our people We call it income tax Under this tax, we have to pay a fixed portion of our income to the government every year. And the government spends that money in providing CIBIL service to the people and institutions living in its jurisdiction. Along with this, Farmer or Poor people Subsidy paid on various facilities Or similar that is helped by the government The money that is spent in it also has the money of your tax amount So here you are, what is income tax? Now it comes to which people have to pay income tax and how much amount to pay Friends, who has to pay taxes, it is not according to the people but depends on their source of income. If your source of income comes under agricultural income So there is no need to pay income tax Because Agriculture income is excluded from income tax If you want to know which income comes under agricultural income Then you can checkout in our description box There you will get all the information about agriculture income The same friends if your source of income is salary, property is gain, business is, capital is Or is there any other source Then it is very important to pay income tax on you there Friends in other sources, your bank interest or FD interest are counted So it is a matter of who will have to pay taxes Now it comes to how much tax will have to be paid How much tax have to be paid, friends, depending on how much taxable you have If your taxable income is more Then you have to pay more tax And if your taxable income is less Then you will have to pay less amount of tax For this, friends income tax people have made slabs Under which they say that if your income If your income is up to 2.5 lakhs then you do not need to pay any income tax The same if your income ranges from Rs 2.5 lakh to Rs 5 lakh Then you have to pay 5% tax there. And if your income is between 5 lakh and 10 lakh rupees Then you have to pay full 20% tax there At the same time, your income is more than 10 lakh rupees, no matter how much Then you will have to pay full 30% tax So this is friends income tax slab Under this, you have to pay income tax So here you must be thinking that if you know that your income is up to 5 lakh rupees. Then you do not need to pay any tax here And I am telling you that you have to pay 5% tax So this happens in such a way that here under the Income Tax Act Section 87A If you pay income tax of Rs 5 lakh taxable income Then you get a full Rs.12500 rebate there And the interesting thing is that 5 lakh rupees of taxable income, which has to be paid on income tax. That too is of 12500 only So from what was supposed to be 12500, you get a rebate of 12500 So the amount which is left by minus is left is Rs.0 And in this way, friends, you have to pay income tax of Rs 5 lakh on income tax Which you call free So now it comes that we have to pay 5% 20% and 30% only here, or else charges are incurred Friends, here on your income tax amount is charged on extra charges. Like, the first charge that is charged is your surcharge On Your income tax amount, you have to pay surcharge Surcharge friends, if your taxable income is more than 50 lakh rupees then only you have to pay You will be shown on our screen how much percentage of surcharge you will have to pay on income above Rs 50 lakh. These surcharge friends do not charge you on actual income or taxable income Here you will have to pay surcharge on what will come out as income tax amount and 5% 20% and 30%. Same friends when you calculate both surcharge and income tax rate Then the final amount will come out and you will get charged education cess Which will be of 4% This education cess will cost you 5 lakh rupees from taxable income to everything you earn But even this you do not charged on your taxable amount it charged on Which comes out by calculating both income tax rate and surcharge You have to give education cess on it And after that, by calculating the final, which is the effective tax rate That is your income tax rate So here friends, when you calculate Surrey So the minimum rate of Income tax will be 5.2% And the maximum will be 42.7% So what you have to pay here, friends income tax, you have to pay the final effective rate This income tax rate that I mentioned is 5% 20% and 30% is there to tell it On which all the charges are required to be applied You have to pay for the final Effective tax rate So it has been talked about which people have to pay tax and how much amount Now it comes that many people say that they earn 9 lakh rupees to 10 lakh rupees or more But still they do not have to pay tax So how does that happen How can we save our tax too? You should know that before here That according to income tax, your income is divided into two parts All the money you earn is as much as your income It is called real income And that real income is divided into two parts Taxable income & Non-Taxable incomne So whatever taxable income you have, you have to pay tax on that And as much you have non-taxable income, you do not have to pay tax on it So how do you know how much your taxable income is and how much non-taxable income is What happens here is that under the income tax, On which you do not have to pay tax Those transactions are called deductions

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