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Video instructions and help with filling out and completing Fill Form 2220 Rates

Instructions and Help about Fill Form 2220 Rates

Hey what is going on everybody welcome to another video in which we are going to see how to calculate income tax for the financial year 2023 and 19 that will be applicable for the assessment year 2023 and 20 or so we'll see some couple of examples for illustration purpose so let's get started with this video so as you can see we have the income tax lab rates for the people whose ages less than 60 years so compared to the financial year 2023 and 18 there have been no changes that are made in the text lab rates and the text limits as far as financial over 2023 and 18 is concerned so basically we have some changes related to the standard deduction and the health and education says if you want to watch what are the different changes that have been made in the budget 2023 you can watch our video the link to which is in the top right corner of this video right now okay so we have the income tax lab rates okay so for people of age less than 60 years there is no text lab rate for the income which is up to two like fifty thousand and for two like fifty thousand to five likes we have the slap rate of five percent for five like two ten legs we have for twenty percent slab rate and for income beyond ten legs we have 30 percent slab rate so there are no changes compared to the financial year 2023 and eighteen slab rates apart from this we have the surcharge of ten percent for taxable income between 50 likes to one crore and the fifteen percent for the taxable income greater than 1 crore so this is the slab rates...