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| Name | Marginal Relief EXPLAINED in New Tax Regime | Income Tax Calculation [Hindi] |
| Video Uploader | Video From FinCalC TV |
| Upload Date | This Video Uploaded At 15-02-2024 10:30:19 |
| Video Discription | What is Marginal Relief in New Tax Regime with Examples | Income Tax Calculation [Hindi] In this video by FinCalC TV we will see What is Marginal Relief in New Tax Regime with Examples in hindi. We will understand marginal relief in new tax regime with the help of income tax calculation examples using excel calculator and online calculator for income tax in India. Marginal relief helps small tax payers to pay less tax when the income increase slightly above Rs. 7 Lakh in new tax regime. This marginal relief is not available in old tax regime. Income Tax Calculator: https://fincalc-blog.in/income-tax-calculator/ DOWNLOAD Income Tax Calculator in Excel: https://fincalc-blog.in/income-tax-calculator-fy-2024-25-excel-download/ Marginal Relief Website Blog: https://fincalc-blog.in/marginal-relief-in-new-tax-regime-for-small-taxpayers/ Income Tax Calculation 2024-25 Examples: https://youtu.be/mYprpqiYo7Y JOIN Telegram Group: https://t.me/fincalc_tv_channel CHAPTERS: 00:00 Marginal Relief in New Tax regime Intro 02:17 Income Tax Calculator Marginal relief examples 02:35 Rs. 5 Lakh Income Tax with Old Tax Regime 03:15 Standard Deduction Example 04:11 Income above Rs. 5 Lakh in Old Tax Regime 05:51 Rs. 7 Lakh Income Tax with New Tax Regime 07:23 Marginal Relief Example in New Tax Regime 11:01 Income Tax Calculator on FinCalC Blog 13:04 Conclusion Save Income Tax Video: https://youtu.be/KscdSx9Cvfg Deductions under New Tax Regime: https://fincalc-blog.in/new-tax-slabs-2024-25-deductions-allowed-new-regime/ DOWNLOAD Android App: https://play.google.com/store/apps/details?id=com.rrr.apps.financialcalculator After watching this video following queries will be solved: What is marginal relief in new tax regime Income Tax Slab Rates 2024-25 Old Tax Regime vs New Tax Regime No Income Tax with new tax regime New Tax regime income tax calculation How To Calculate Income Tax FY 2024-25 AY 2024-25? 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 - Marginal Relief in New Tax Regime is a relief for small tax payers to pay less tax due to slight increase in income above Rs. 7 lakh - With new tax regime, the tax rebate under section 87A has a limit of Rs. 25,000 when your taxable income is Rs. 7 lakh or less - So when your income is Rs. 7 lakh, your income tax according to various slabs will be Rs. 25,000, but you get tax rebate of Rs. 25,000 under section 87A, due to which your effective income tax is Rs. 0 - But when your income increases slightly above Rs. 7 lakh, you would have paid this Rs. 25,000 as tax since now you are not eligible for tax rebate 87A - This would be unfair since your tax liability in this case will be more compared to the income above Rs. 7 lakh with new tax regime - So to solve this issue, government provides marginal relief to such tax payers where the income tax is higher than the actual income of the individual - For above example of Rs. 7,00,010, the individual need to only pay Rs. 10 + cess of 4% on the amount that is above Rs. 7 lakh, instead of paying the rebate amount of Rs. 25,000 as well This marginal relief helps the tax payers to pay the tax only for the amount above Rs. 7 lakh #MarginalRelief #IncomeTax #TaxCalculation #IncomeTaxExcel #fincalc ============================ LIKE | SHARE | COMMENT | SUBSCRIBE Mujhe Social Media par FOLLOW kare: Facebook : https://www.facebook.com/fincalctv Twitter : https://twitter.com/FincalcTV BLOG: https://fincalc-blog.in Telegram: https://t.me/fincalc_tv_channel Instagram: https://www.instagram.com/fincalc_tv/ ============================ MORE VIDEOS: SIP Returns Calculation: https://youtu.be/dBSorr6FGyA Income Tax Calculator: https://youtu.be/4MNnk4NFRuw Loan EMI Calculator: https://youtu.be/FSbYoHAULh0 Loan EMI Prepayment Calculator: https://youtu.be/liGgfgMn5xg ============================ DISCLAIMER: Examples and demo used are for Illustration purpose only and might not cover every detail of examples shown. Xzht6WDDLb0 |
| Category | Education |
| Tags | marginal relief | concept of marginal relief | marginal relief calculation | marginal relief in new tax regime | new tax regime | marginal relief in income tax | marginal relief examples | income tax | marginal relief explained | marginal relief above 7 lakh income | what is marginal relief | how to calculate marginal relief | marginal relief calculator | income tax calculation | new income tax calculation excel | income tax calculator 2024-25 | income tax calculation 2024-25 | fincalc tv |
