Hello, friends.
How are you all? I am C.S.
Shreyagupta, your friend, your companion, your companion,
your compassionate, your beloved, till the discussion of
this tax.
So, friends, we were discussing different heads of income
of income tax.
And today, we are going to start a new head of income,
which is called Income Under the Head Salaries.
What did I say, friends? A new head of income, which is
called Income Under the Head Salaries.
Friends, in this, we will discuss how you will pay tax on
the salary you earn.
We will discuss different components of income tax.
What all is taxable on you, what all is not taxable on you.
Your employer gives you some benefits.
So, in those benefits, what all is taxable and what all is
not taxable.
And finally, we will make your gross salary and see what
tax you get on that.
see, nowadays, what is happening is, you are seeing this
Shark Tank India and all, how much is going on.
A new craze has come nowadays, that even those who are not
able to do it, they are also thinking that I should open my
own business.
Friends, keep your hand on your heart and tell me, is it so
easy to open a business and continue it? Do you have so
much money, that you buy a new thing, after that, you take
out the salary of your employees, you take out the rent of
your office, you take out the expenses of electricity,
after that your goods will be sold.
And after minusing all these expenses, are you seeing how
much profit you are taking? People think that they can do
business, they can do business.
Compare it, that today, if you have a good salary, apart
from that, is your profit sitting as much as your salary?
Will you be able to continue your business in your life?
Friends, these are very big risks sometimes. These are not
risks that can be taken blindly.
I believe, friends, that 90% of the population of India,
which is at least 30,000, 25,000, 40,000 are earning, they
are in the job itself.
Friends, the job gives you that platform, that if you are
from a humble background in the beginning, you can improve
your background.
Friends, business happens when you have money in your
pocket.
If you don't have money in your pocket, then how will you
start a business? These things happen when you have money
in your pocket.
When you don't have money in your pocket, then what will a
person do?
And isn't it a shame to do a job? As people are saying
these days.
Do you enjoy your job?
I enjoy my job. It doesn't mean that someone has tied me
up. It depends on you, friends.
What is your mindset? The salary chapter is a very
important chapter.
Because if you give consultancy to someone, mostly the
salary class people will come to you.
You should know what all things are taxable.
What advantages can I give to that person? What advantages
will he not get? It is beneficial for yourself.
In future, you will not start a business.
You will have to work for 2-4 years to understand the
environment of the industry.
When you start a job, you will get income.
What will be the tax on that income? You have to know
yourself as well.
How much taxable is the salary that I am taking? What will
be exempted?
Because of this, our head becomes a little important.
We will try to understand this by paying attention to it.
And the strength that I have, I promise you that I will
explain this head of income to you at a basic level.
It will be fun with examples.
Let's start our new head of income.
Income under the head.
Salaries. Friends, tell me what is salary? What do you mean
by salary? Is there an employee who gives his services to
his boss? Although I am not a boss or a servant.
I don't believe in these things.
I don't believe that there is a boss or a servant in this
world.
There is only one boss.
I will go on this.
But still, I will talk about what is going on in the common
language.
An employee or any person is giving services to his senior
or an employer.
In return, what does he take from him? He will take some
money.
Now what is that money?
That is salary.
It becomes a part of salary.
If it goes above a limit, then you have to pay tax on it.
It is a simple concept.
Along with salary, you must have seen that there are
government employees.
The best example is, don't look here and there at
government employees.
I will talk about the Prime Minister of our country.
Our Prime Minister is also doing a job.
Now he gets a salary from the government of India.
Apart from salary, he also gets bodyguards.
He gets a house to live in, an office to work in, staff,
servants.
Why is he getting all this? If he does not have a salary,
if he was not in a job, would he get all these benefits?
No, he would not get all these benefits.