How to calculate Income Tax under New Tax Regime Salary STCG LTCG Interest under section 234B & 234C @cadeveshthakur #incometax #cadeveshthakur #itrfilling #howtofileincometaxreturn #newtaxregime Dear Viewers, Index 00:00 to 00:20 Intro New Tax Regime 00:21 to 06:11 Case 1 Salary & CG 06:12 to 22:39 Computation of Tax Payable Short-Term Capital Gain (STCG) on Shares (Section 111A): STCG arises from the sale of equity shares listed on a recognized stock exchange with a holding period of less than 12 months. Tax Rate: STCG under Section 111A is taxed at a concessional rate of 15% plus applicable cess. Conditions for Concessional Rate: Transferred through a recognized stock exchange. The transaction is liable to securities transaction tax (STT). Exception: Transactions in an International Financial Service Center (IFSC) are taxable at 15% even without STT. Adjustment against Basic Exemption Limit: If your total income (after deductions) is lower than the basic exemption limit, you can set off STCG against the shortfall. Only the balance amount is taxed at 15%. Non-residents cannot claim this exemption and pay 15% tax on STCG under section 111A. Interest under Sections 234B and 234C: Interest under section 234B: If you haven’t paid sufficient advance tax, interest is levied at 1% per month or part thereof on the shortfall. Interest under section 234C: If you miss the due dates for advance tax payments, interest is charged on the amount of shortfall. 🎥 Hello, lovely viewers! Welcome back to the @cadeveshthakur channel! 🎉 TH-cam Channel: www.youtube.com/@cadeveshthakur TDS ki कक्षा: th-cam.com/play/PL1o9nc8dxF1RqxMactdpX3oUU2bSw8-_R.html E-commerce sellers: th-cam.com/play/PL1o9nc8dxF1ShUNXkAbYrAYj2Pile1Rim.html GST Knowledge Bank: th-cam.com/play/PL1o9nc8dxF1RjdRrG4ZKXeJNed6ekhjoR.html Goods & Services Tax: th-cam.com/play/PL1o9nc8dxF1SlBw2kSpZ9ay1jnEOkbDYN.html TDS: th-cam.com/play/PL1o9nc8dxF1RXi2GaEckeXGmJy_FYOj9q.html Shorts for Accountants, Professionals, Finance, Students: th-cam.com/play/PL1o9nc8dxF1TqoRTWoA1_l0kmtsbyNEB5.html Accounting concept, Entries, Final Accounts preparation: th-cam.com/play/PL1o9nc8dxF1T4GSjBPboXxBgFgkVZmDbQ.html Direct Taxation: th-cam.com/play/PL1o9nc8dxF1S7BBNeuL3fzV_fDl9V88C2.html 🎥 Hello, lovely viewers! Welcome back to the @cadeveshthakur channel! 🎉 I’m thrilled to have you here, and I want to connect with you beyond TH-cam. Let’s take our journey together to the next level! 😊 LinkedIn: www.linkedin.com/in/cadeveshthakur/ Instagram: instagram.com/cadeveshthakur/ Twitter: twitter.com/cadeveshthakur Facebook: facebook.com/cadevesh Whatsapp Group: whatsapp.com/channel/0029Va6GOVE9MF92Ylmo7e0L #cadeveshthakur cadeveshthakur.com/ Remember, our community is more than just a channel-it’s a family. Let’s connect, learn, and grow together! Hit that Subscribe button, tap the notification bell, and let’s spread financial wisdom one click at a time. 🚀 Remember, knowledge empowers us all! Let’s learn together and navigate the complex world of finance with curiosity and diligence. Thank you for being part of the cadeveshthakur community! 🙌 Disclaimer: The content shared on this channel is purely for educational purposes. As a Chartered Accountant, I strive to provide accurate and insightful information related to GST, income tax, accounting, and tax planning. However, please note that the content should not be considered as professional advice or a substitute for personalized consultation. how to calculate interest under section 234a 234b 234c,how to compute income tax under new tax regime,how to calculate income tax under new regime,new tax regime vs old tax regime,how to calculate tax under new regime,how to calculate tax under 115bac,how to calculate short term capital gain,how to calculate interest u/s 234a b c,how to calculate long term capital gain,cadeveshthakur,income tax calculation,income tax calculation examples
@@cadeveshthakur For financial year 2023 - 2024, if we did not pay advance tax, we need to pay interest under 234B & 234C whether we select new regime or select old regime??
How to calculate Income Tax under New Tax Regime Salary STCG LTCG Interest under section 234B & 234C @cadeveshthakur
#incometax #cadeveshthakur #itrfilling #howtofileincometaxreturn #newtaxregime
Dear Viewers,
Index
00:00 to 00:20 Intro New Tax Regime
00:21 to 06:11 Case 1 Salary & CG
06:12 to 22:39 Computation of Tax Payable
Short-Term Capital Gain (STCG) on Shares (Section 111A):
STCG arises from the sale of equity shares listed on a recognized stock exchange with a holding period of less than 12 months.
Tax Rate: STCG under Section 111A is taxed at a concessional rate of 15% plus applicable cess.
Conditions for Concessional Rate:
Transferred through a recognized stock exchange.
The transaction is liable to securities transaction tax (STT).
Exception: Transactions in an International Financial Service Center (IFSC) are taxable at 15% even without STT.
Adjustment against Basic Exemption Limit:
If your total income (after deductions) is lower than the basic exemption limit, you can set off STCG against the shortfall. Only the balance amount is taxed at 15%.
Non-residents cannot claim this exemption and pay 15% tax on STCG under section 111A.
Interest under Sections 234B and 234C:
Interest under section 234B: If you haven’t paid sufficient advance tax, interest is levied at 1% per month or part thereof on the shortfall.
Interest under section 234C: If you miss the due dates for advance tax payments, interest is charged on the amount of shortfall.
🎥 Hello, lovely viewers! Welcome back to the @cadeveshthakur channel! 🎉
TH-cam Channel: www.youtube.com/@cadeveshthakur
TDS ki कक्षा: th-cam.com/play/PL1o9nc8dxF1RqxMactdpX3oUU2bSw8-_R.html
E-commerce sellers: th-cam.com/play/PL1o9nc8dxF1ShUNXkAbYrAYj2Pile1Rim.html
GST Knowledge Bank: th-cam.com/play/PL1o9nc8dxF1RjdRrG4ZKXeJNed6ekhjoR.html
Goods & Services Tax: th-cam.com/play/PL1o9nc8dxF1SlBw2kSpZ9ay1jnEOkbDYN.html
TDS: th-cam.com/play/PL1o9nc8dxF1RXi2GaEckeXGmJy_FYOj9q.html
Shorts for Accountants, Professionals, Finance, Students: th-cam.com/play/PL1o9nc8dxF1TqoRTWoA1_l0kmtsbyNEB5.html
Accounting concept, Entries, Final Accounts preparation: th-cam.com/play/PL1o9nc8dxF1T4GSjBPboXxBgFgkVZmDbQ.html
Direct Taxation: th-cam.com/play/PL1o9nc8dxF1S7BBNeuL3fzV_fDl9V88C2.html
🎥 Hello, lovely viewers! Welcome back to the @cadeveshthakur channel!
🎉 I’m thrilled to have you here, and I want to connect with you beyond TH-cam. Let’s take our journey together to the next level! 😊
LinkedIn: www.linkedin.com/in/cadeveshthakur/
Instagram: instagram.com/cadeveshthakur/
Twitter: twitter.com/cadeveshthakur
Facebook: facebook.com/cadevesh
Whatsapp Group: whatsapp.com/channel/0029Va6GOVE9MF92Ylmo7e0L
#cadeveshthakur
cadeveshthakur.com/
Remember, our community is more than just a channel-it’s a family. Let’s connect, learn, and grow together! Hit that Subscribe button, tap the notification bell, and let’s spread financial wisdom one click at a time. 🚀 Remember, knowledge empowers us all! Let’s learn together and navigate the complex world of finance with curiosity and diligence. Thank you for being part of the cadeveshthakur community! 🙌
Disclaimer: The content shared on this channel is purely for educational purposes. As a Chartered Accountant, I strive to provide accurate and insightful information related to GST, income tax, accounting, and tax planning. However, please note that the content should not be considered as professional advice or a substitute for personalized consultation.
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@@cadeveshthakur For financial year 2023 - 2024, if we did not pay advance tax, we need to pay interest under 234B & 234C whether we select new regime or select old regime??