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Nice illustration. You can also mention if the taxable amount is less than 5L, then NO need to pay any tax. But, at the same time if the taxable amount is 5L and 10k, then need pay Rs.12500 for 2.5L @5% plus Rs400 for 10K @20%.
Tax Calculation in Excel: docs.google.com/spreadsheets/d/1cf5QHaJWaOAcp37EnS1PPCpkFaFXrZXm/edit?usp=sharing&ouid=100516961241995247600&rtpof=true&sd=true
Top 5 ITR filing Mistakes to get INCOME TAX NOTICE | Income tax returns filing AY2023-24 | Bonus information in US stocks taxation and Cryptocurrency taxation th-cam.com/video/IAeaZav6L8w/w-d-xo.html
sir one doubt if we are investing almost everything to reduce tax then at the end how much we have in hand to pay for our needs and wants as per ur example of 20 lakhs earning person can get only 10 lakhs so his inhand salary almost reduces drastically then how he will be benefitted??
Good question. Think long term. If you didn't invest that amount and just paid taxes to get more in hand salary, that will not beat the inflation. Inshort, you are investing to beat the inflation and that amount will come to you MORE depending on investment instrument. AND THAT'S HOW YOU WILL BE BENEFITTED IN THE LONG TERM.
Thanks so much for the clear explanation bro. Cal you please give us the access to the sheet. Many of us waiting for that. Please help us. Thanks again 😊☺️
I have three question 1, my long term profit 98000 Rs and i am Salaried person my income per year 6 lakhs so can i IT filling 6 lakhs or 698000 2, divitend per year above 5000 rs in single stock or 3 to 5 stocks above 5000 rs eligible for tax (infy- 2000rs, Tcs-1500 rs, ITC-1500 rs) 3,if I am getting profit LTG Or STG profit amount hold in my demand account without my bank account transfer and i invest same day new stocks purchase whole money it's eligible for Tax Please answer my question.
I am a super senior citizen having net taxable income exceeds Rs 5lacs for fy 22-23 pension plus.I have to pay tax only for the amount exceeding Rs5 lacs? Or to pay addl amount of Rs Rs12500 from 2.5 to 5lacs? There are different version pl clarify namaste
Nice explanation brother. I just have one doubt. After we get the net taxable income after all the deductions we have Tax rebate right under 87A which would minus 12500 rs from the net amount right. Correct me if I am wrong.
Hi, If you have 15 lakhs you need to pay tax for the interest amount earned from that 15 lakhs. If you are earning 15 lakhs as salary then you need to pay as per the tax slab after showing your investments. Please let me know if it is not clear. Thanks
If CTC is X LPA, Basic will be 30 to 40 percent of X. HRA will be always 50 percent of Basic. PF deduction will be 12 percent. Your video shows basic 66667 and basic is 50000?which Indian company is giving that bro? Anyone can save tax with that HRA exemption.
@@investmentworks but I'm just quoting your shown example here. If basic is 66667, then HRA allowance cannot be more than 50 percent of Basic i.e. 33,333. Anyway thanks for your effort in making the video and prompt response. Keep up the good work.
Bro, I didnt planned for any tax planning at intial stage . And the tax declaration is done for the year. Later if I plan for tax benefit means can I edit the declaration or can I reimburse while filing at the end.
Bhagavath, Eventhough you have not planned for tax at initial financial year and at last planning and investing in 80C for 1.5 lakhs you can get the tax paid amount to Government through IT declaration. That is you will get the refund from government on how much you paid. Thanks
Do we need to provide house owner pan card if we are mentioning more than 1 lack in hra exemptions. If house owner not provide pan card, does they accept for more than 1 lack
Nice Video Bro, But a small doubt, What could be the section for children school fees and what is the limit of tax exemption for the school fees. Please let know.
Section 80C of the Income Tax Act has provisions for tax deductions on tuition/education fees paid by a parent towards educating his/her children. Taxpayers can avail deductions to a tune of Rs 1.5 lakh under Section 80C (as per 2020-21 tax slabs), with other investments also eligible for this rebate.
Under 80c section, you can avail a deduction on your plot and home loan component, which deals with the principal repayment and does not consider the interest part of the home and plot loans. This allows a maximum exemption of INR 1,50,000 per year from your annual taxable income.
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Basics of Stock Market - www.theinvestmentworks.com/courses/Basics-of-Stock-Market-65d46335e4b0e1efdd69b7c7
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For market updates, selling and buying of stocks in my portfolio. Question and answers related to investment.
Link to download the Excel sheet - Financial Planning Worksheet for 20 to 30K Salaried people,
topmate.io/ayyamuthu_archunan/605041
For one to one financial consulting discussion, please booking meeting this link,
நிதி ஆலோசனை கலந்துரையாடலுக்கு, இந்த இணைப்பைச் சந்திக்க முன்பதிவு செய்யவும்
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Nice illustration. You can also mention if the taxable amount is less than 5L, then NO need to pay any tax. But, at the same time if the taxable amount is 5L and 10k, then need pay Rs.12500 for 2.5L @5% plus Rs400 for 10K @20%.
Clear explanation... Thank you sir...
You are welcome
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Thanks to clear explanation ...
You are welcome
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Tax Calculation in Excel:
docs.google.com/spreadsheets/d/1cf5QHaJWaOAcp37EnS1PPCpkFaFXrZXm/edit?usp=sharing&ouid=100516961241995247600&rtpof=true&sd=true
Highly helpful...Thanks alot
Hi ayyamuthu bro nan ungaludaya stock's fan
Thanks Brother
Super informative brother ❤❤
Top 5 ITR filing Mistakes to get INCOME TAX NOTICE | Income tax returns filing AY2023-24 | Bonus information in US stocks taxation and Cryptocurrency taxation
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Bro oru doubt,
My net salree is 753365, So shall i put 2 days loss of pay means, i can go by New tax regime ah?
Option irukka?
Thanks for your clarification...
Nicely explained :) Super Ayyamuthu
Thank you very much bro . Clearly explained ❤️
Super bro... Really helped!!
Nandri
Good work, thanks 👍
Thanks for the information bro✌️
Fantastic explanation
Clearly explined.but i didnt mention the house interst upt9 2 laks
Anna LIC, Posr office scheme elllam ethula exception agum
Very informative bro
Super bro.. very useful for beginners 👌🏻🥳🥳
Ithula LIC ethula bro declare pana mudium ?
Thanks thambi . Really you are great
Sema bro.. Very usefull...
Bro wife ku insurance edutha, atha claim pana mudiyatha?
Very Useful Video
sir one doubt if we are investing almost everything to reduce tax then at the end how much we have in hand to pay for our needs and wants as per ur example of 20 lakhs earning person can get only 10 lakhs so his inhand salary almost reduces drastically then how he will be benefitted??
Good question. Think long term. If you didn't invest that amount and just paid taxes to get more in hand salary, that will not beat the inflation. Inshort, you are investing to beat the inflation and that amount will come to you MORE depending on investment instrument. AND THAT'S HOW YOU WILL BE BENEFITTED IN THE LONG TERM.
Good explanation please mention about the medical expenses of parents
Good explanation
Very good info bro ❤️
Excellent video.....
All sections of income tax deduction along with amounts. Please watch below video
th-cam.com/video/05_P_TMvA-c/w-d-xo.html
80D Medical insurance premium for self n dependents - Rs. 25000 tax exemption
Awesome video.
Thanks so much for the clear explanation bro. Cal you please give us the access to the sheet. Many of us waiting for that. Please help us. Thanks again 😊☺️
bro, seriously no one said that 1,28,400 only you can save by using 80c if you already have EPF. I was so confused, now I am clear. Thanks bro!
4:08 Lakhs
is this same applicable for this year also?
HRA should be 40% of Basic for non metro cities and 50% of Basic for Metro Cities
Nice video bro
19thousand and 42 thousand and 400 rupees, at4:09 please change that
Sure we will change it. Thanks
Sure we will change it. Thanks
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NPS contribution i have a doubt 80 CCD (IB) Can be invested only if NPS (80CCD) 1.5 L is invested ?
Yes, you need to invest 80c 1.5 lakh and then you can invest 50000 for NPS which is additional benefits
@@investmentworks what about 80CCD(2) (employer contribution) bro, do we need to declare?
Super video 🔥
Ppf la 1.5lac investment pandra tha eppadi?yaarkitta declare pannanum
you can buy through bank
I have three question
1, my long term profit 98000 Rs and i am Salaried person my income per year 6 lakhs so can i IT filling 6 lakhs or 698000
2, divitend per year above 5000 rs in single stock or 3 to 5 stocks above 5000 rs eligible for tax (infy- 2000rs, Tcs-1500 rs, ITC-1500 rs)
3,if I am getting profit LTG Or STG profit amount hold in my demand account without my bank account transfer and i invest same day new stocks purchase whole money it's eligible for Tax
Please answer my question.
What ever we give documents does our HR evaluate?
Good one bro..
I am a super senior citizen having net taxable income exceeds Rs 5lacs for fy 22-23 pension plus.I have to pay tax only for the amount exceeding Rs5 lacs? Or to pay addl amount of Rs Rs12500 from 2.5 to 5lacs? There are different version pl clarify namaste
Based on the tax slab you need to pay
EG:
2.5 to 5 lacs - 12,500
5 to 7.5 lacs - Whatever the amount you have
Total tax of both
Nice explanation brother. I just have one doubt. After we get the net taxable income after all the deductions we have Tax rebate right under 87A which would minus 12500 rs from the net amount right. Correct me if I am wrong.
Bro that rebate is applicable only if the net taxable income after all deduction is Rs.5 lakh or less than 5 lakh.
Yes, you are correct
@@investmentworks Brother please share access for the sheet. It'll be so helpful to many of us.
I think 15.30 is wrong calculation, Other thinks looks good thank you
Anna can we do both Sukanya samruthi scene and mutual fund ELSS?
yes
LTA fullah claim panna mudiyuma
Explain how to fill in ITR portal for above pay scale
Sure I will put video in future.
Sir oru doubt... Yearly 15 lakhs current account la erutha .. 5 lakhs ku mattum tax kattanuma ? Ilana 15 lakhskum Sethu tax kattanuma sir?
Hi, If you have 15 lakhs you need to pay tax for the interest amount earned from that 15 lakhs. If you are earning 15 lakhs as salary then you need to pay as per the tax slab after showing your investments. Please let me know if it is not clear. Thanks
Hi Bro intha "80D - Medical Expenses incurred for Dependent Parents above 60 years without insurance" ithuku documents submit pannanuma?
For all medical expenses for parents we need to submit the documents for IT filing.
My net salree is 753365, So shall i put 2 days loss of pay means, i can go by New tax regime ah?
If you invest in 80C and other section and show as investment and use old regime for ITR filing
Bro 19K No -- 19L...
What about veriable pay??
You need to pay tax. If required we will create another video for this.
NPS details please
Bro, Housing loan iruntha athalam ethula varum nu oru video poduga
sure I will create seperate video.
Leaseku tax benefita iruka?
இலட்சம், ஆயிரம் சரியாக சொன்னால் நன்றாக இருக்கும்!
Hello brother...Thanks the video was much useful!! but unable to access the excel file can you please provide access?
Please use this link bit.ly/3qe2ddP to download
I'm unable to edit the excel sheet bro.
You can see the link in first comment. You can download that excelsheet.
bro 2.5l to 5l la.. 2.51 na kooda fulla katanum ah ila only 10% ah
You have to pay 1000 x 5% which is 50 rupees as tax.
Can't able to download that excel sheet bro ...
Please use this link bit.ly/3qe2ddP to download
HI, i am not able to access the Tax Calculation in Excel. its asking for permission
Please use this link bit.ly/3qe2ddP to download
Hi
Can I plan investment for FY 2022-23 now?
Will I get complete refund through ITR?
Yes, you will get the complete refund through ITR if you do the investment now for FY 2022-23.
Sir spreadsheet edit excess illa
Sir fd la 5.5 lakhs , I have no other income should I file tax
If it is more than 2.5 lakhs then you need to file tax
Where is the itr calculating sheet
It is available in description brother
Not able to download Excel file sir please help me with approval
Please use this link bit.ly/3qe2ddP to download
Hi bro .. other than 80c.. do we have any tax saving scheme..
it should be returnable.. other than medical and lic .
Like NPS or other's
sorry no other tax benefit is available other than 80c and 80CCD (NPS50,000)
If CTC is X LPA, Basic will be 30 to 40 percent of X. HRA will be always 50 percent of Basic. PF deduction will be 12 percent.
Your video shows basic 66667 and basic is 50000?which Indian company is giving that bro? Anyone can save tax with that HRA exemption.
It is an example scenario and if your salary is more than 18 lakhs then your basic will be more than 50,000.
@@investmentworks but I'm just quoting your shown example here.
If basic is 66667, then HRA allowance cannot be more than 50 percent of Basic i.e. 33,333.
Anyway thanks for your effort in making the video and prompt response. Keep up the good work.
Sir kindly share that excel sheet
Please use this link bit.ly/3qe2ddP to download
Bro, I didnt planned for any tax planning at intial stage . And the tax declaration is done for the year. Later if I plan for tax benefit means can I edit the declaration or can I reimburse while filing at the end.
Bhagavath, Eventhough you have not planned for tax at initial financial year and at last planning and investing in 80C for 1.5 lakhs you can get the tax paid amount to Government through IT declaration. That is you will get the refund from government on how much you paid. Thanks
@@investmentworks Hi bro...If we didn't submit tax declaration form means what will happen..?
can't edit, change
arasiyalvathi naekulukku 100% am child trustku less % yellam arasiyavathigal panna velai
Do we need to provide house owner pan card if we are mentioning more than 1 lack in hra exemptions. If house owner not provide pan card, does they accept for more than 1 lack
It is mandatory to give owner pan card if the rent is more than one lakh per year.
@@investmentworks Is House owner needs to pay income tax for that HRA amount ?
1370000 new tax regime la 132000 tax varuthu so New Tax regime better
Nice Video Bro, But a small doubt, What could be the section for children school fees and what is the limit of tax exemption for the school fees. Please let know.
Section 80C of the Income Tax Act has provisions for tax deductions on tuition/education fees paid by a parent towards educating his/her children. Taxpayers can avail deductions to a tune of Rs 1.5 lakh under Section 80C (as per 2020-21 tax slabs), with other investments also eligible for this rebate.
sheet download link pls
docs.google.com/spreadsheets/d/1cf5QHaJWaOAcp37EnS1PPCpkFaFXrZXm/edit?usp=sharing&ouid=100516961241995247600&rtpof=true&sd=true
excel sheet is empty
Only land loan mattum entha section la varum broo?
Under 80c section, you can avail a deduction on your plot and home loan component, which deals with the principal repayment and does not consider the interest part of the home and plot loans. This allows a maximum exemption of INR 1,50,000 per year from your annual taxable income.
Ellam invest panna kaiku onnume varathu
This explanation is in general for people to know if they are earning more than 20 lakhs still they can get benefit out of tax systems.
Need new videos
sure I will put new videos
Dear sir, Can you given consulting me about ITR filing. How to I contact to you?
Hi Sir,
Sorry for the delayed response.
You can send your queries to startwithinvestment@gmail.com we will definitely help you.
I need some tax declaration advice. How to contact you bro 🙏
Please send a mail to "startwithinvestment@gmail.com" our team will give reply as soon as possible.
Nice explanation brother.. Thanks!
Thanks for the comments.