Yes friends, good morning, good evening, good afternoon.
Whoever is watching me right now, my heartiest
congratulations.
Friends, how are you all?
Are you enjoying life?
Have you started to understand a little about income tax?
A little bit?
We have just opened its envelope.
Are you starting to understand a little?
Friends, today is a new day, a new beginning, a new
opportunity, a new sun.
Not sun, rays.
Friends, every day the sun rises, every day, the first rays
of the sun in the morning, they tell you something unsaid,
that son, wake up, today is a new day, a new day, a new
opportunity, it brings new challenges with it.
Forget what happened yesterday.
Yesterday you were a king, or yesterday you were a color,
that is yesterday.
What you are today, is determined by your hard work today,
the hard work you will do from morning to night.
That will determine.
That is why friends, never be disappointed in life.
Every day is a new birth for you, every day you learn new
things.
If yesterday was a bad day, then today will be a good day.
You will learn from yesterday, what wrong did I do
yesterday, or which right thing I could not do.
And try to improve it today.
Look at it again today.
Wake up in the morning with a fresh mind, look at it again
in the morning.
What is it that you cannot understand?
The world is playing music, people are making rockets, and
you cannot understand a simple slavery of yours?
Friends, in this world, there is nothing difficult, the
answer to everything is here.
If you want, you just need a clear vision.
Today is a new day, today is a new lecture, let us revise
the old one, and move ahead with a positive mindset.
And we will say,
Jai Shri Ram.
We had discussed about slab rate in the last lecture.
We had seen that there is income tax, so it will depend on
the income.
We had calculated the total income, how does the total
income look like.
I had got the page of your register printed in a copy.
After that we had calculated income tax rates.
There are two types of rates.
One is normal rate, and the other is special rate.
What is the difference between normal rate and special rate?
Normal rate is the budget, which Nirmala madam presents
every year.
And special income tax rates are those rates which are
specified in the income tax act.
For example, lottery income rate, capital gain rate, share
market income rate, these rates are written in the income
tax act.
There is no need to change it again and again.
Now, the tax that you will get, normal rate and special
rate, you will get the total of both.
What were we discussing just now?
We were discussing normal rate of tax.
How is normal rate calculated?
Income tax is calculated by slab rate.
What does slab rate mean?
If you earn Rs.
2.5 lakhs, you don't have to pay any tax on it.
If you earn Rs.
2.5 lakhs to Rs.
5 lakhs, you get a rate of 5%.
A rate of 5%.
If you earn Rs.
5 lakhs to Rs.
10 lakhs, you get a rate of 20%.
And if you earn Rs.
10 lakhs to Rs.
10 lakhs, you get a rate of 30%.
We tried to ask some questions.
We were doing calculations.
I want you to revise this concept.
So, I will give you one more question.
After that, we will move ahead.
I am telling you that the total income is Rs.
12 lakhs.
Calculate the tax on Rs. 12 lakhs.
How much tax will you get?
According to slab rate.
Calculate it. You calculate there.
I will calculate here.
Don't look at the board.
I want you to do it yourself.
Even if you make a mistake, you will learn.
The income is Rs. 12 lakhs.
Calculate it. I am calculating here.
It will go from Rs.
2.5 lakhs to Rs.
5 lakhs according to 5%.
And it will go up to Rs. 12,500.
Calculate it till here.
Any problem till here?
From Rs.
5 lakhs to
Rs. 10 lakhs, it will go up to Rs.
It means Rs. 1 lakh.
And how much is above Rs.
10 lakhs?
Rs. 2 lakhs.
What is the rate above that? 30%.
How much is it?
Rs. 60,000.