What Common Men Got in Budget 2023

Originally posted by : MPR Sanjay Kumar
	@ CA sudesh Kumar Gupta sir,I have a crucial doubt regarding computation of tax payable in total income.for an example miss shwetha Jain is a resident of india ,his total income is RS 8,50,000 she opt new scheme 2023-24 now I need computations of tax payable calculations please explain me

I assumed your income is from salary:

Your Income                             850000

Less: St. Deduction                  -50000

Taxable Income                       800000

Tax for F.Y. 23-24                       35000

Add: Cess 4%                              1400

TOTAL TAX LIABILITY              36400

Note:

1. if your income is not from salary than tax liability would be 41600/-

My self CA Sudesh Kumar Gupta. In this video I have explained what is House Rent Allowance and how an employee can take an exemption in House Rent Allowance and Home loan at the same time and how much exemption can be taken.

CLICK ON FOLLOWING LINK

https://www.youtube.com/watch?v=SBjxHpO2ybw&t=529s

Originally posted by : Eswar Reddy S
	No much benefit for common man unless you are a tax payer

True, but in Budget, Income tax changes are always look with the angle of taxpayers only. 

if anyone is not a taxpayer than he has to do noting with budget IT provisions