Hello friends today we'll know how to calculate income tax for a salaried individual for the financial 1819 also we can see a the assessment year 2023 and 20 so before going to the actual calculation let us discuss some of the important factors which affect the income tax amount so the first point that is the standard deduction from the current financial year the Government of India has introduced the standard deduction of rupees forty thousand for each salaried individual second point is the HRA exemption we'll discuss it with the help of example third party the income from house property then for teach the income from other sources number three teach professional tax exemption sixty deduction under different section light ATC ATC CD 180 C CD 2 and also there are so many other areas where we can get deduction and in number seven will discuss the text slab for the SME near 2019-20 so first Pony the standard deduction from the current year flat rupees 40000 standard deduction has been introduced by Government of India and it will replace deduction of transport allowance of rupees 19200 and medical reimbursement if any then that is which was being continued up to the last year second punic the HRA exemption there are three factors here you can see number one the actual HRA received number two each 40% of basic plus beer and this is 50% for metro cities and number three is actual rent paid - ten percent of the C plus D so here you can see actual HRA received whatever the amount just calculate and keep it separate please then 40% of BC plus B you you can calculate easily from your income sit then number three is actually unpaid minus ten portion of basic plus...
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2022 income tax calculator Form: What You Should Know
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