Good morning, good afternoon, good evening, whoever is
watching me right now, my heartiest greetings, my heartiest
greetings.
Friends, how are you all?
Great, having a great time, having fun.
Did you understand the topic of slab rate?
Did you understand the concept of slab rate?
Basically, there are normal rates, which come in the budget
every year.
We have studied that.
We have studied the exemption limit of 2.5 lakhs.
Then we studied the 3 lakhs one and then the 5 lakhs one.
Sir, apart from this, the government also gives some
benefits.
A few years ago, the government came up with a concept that
if you earn 5 lakhs a year, because friends, the inflation
rate is so high in today's date, even if you earn 5-6 lakhs
a year, even if you earn up to 50,000 rupees, you have so
many expenses.
You have so many expenses that it becomes difficult to
manage.
Will you buy a phone?
Will you pay the AMI of the phone?
Will you pay for the laptop that you have bought?
Do you have to pay the school fees of your children?
Will you pay the installment of a motorcycle or a scooter
that you have bought?
Will you pay the installment of a cooler or AC that you
have bought?
In today's date, considering today's inflation, even if you
earn 45-50,000 rupees, if a household earns 50,000 a month,
let's assume that there are 4-5 family members in total.
Let's assume that the parents also live together.
They also have some medical expenses.
The children also live together.
So, it is very difficult to save.
It is very difficult.
The poor man's savings were not there.
Let's assume that you are earning 5-6 lakhs a year.
His savings were not there.
And you are asking him to pay your income tax.
You are asking him to pay your income tax.
The poor man is saving 0 rupees.
His salary comes on the 3rd or 4th day of the month.
And on the 20th or 25th, his salary becomes 0.
How will he pay the income tax?
You are asking him to pay his income tax according to the
salaried rate.
His expenses are not being fulfilled.
How will he pay the income tax?
What will he do?
In that case, the government said,
We also understand.
We are not heartless.
We also have a little compassion.
We also understand that the country's inflation is
increasing.
Petrol prices are increasing.
Everything's prices are increasing.
It is difficult to manage the expenses.
We understand.
So, the government simply said,
If your total income is up to 5 lakhs,
Do you understand the meaning of total income?
It is the gross income of all the heads.
The deductions are minused.
The money you gave for LIC or health insurance.
That money is minused.
After that, it is called total income.
Check the first page of your register.
It is written here.
If your total income is up to 5 lakhs,
Then you get a rebate.
What does rebate mean?
If your income is 5 lakhs,
If the salaried rate is 2.5 lakhs,
Generally, your applicable income was 2.5 lakhs.
And above 2.5 lakhs,
There was a 5% tax.
Your tax was 12,500 rupees.
So, if your total income is up to 5 lakhs,
We will give you a rebate of 12,500 rupees.
It means,
If you earn up to 5 lakhs,
Then you don't need to pay any tax.
This is not the exemption limit of 5 lakhs.
The exemption limit is 2.5 lakhs.
From 2.5 lakhs to 5 lakhs,
You will earn a tax of 12,500 rupees.
12,500 rupees tax.
This section is written here.
Section 87A.
If your tax is up to 12,500 rupees,
Then we will give you a rebate
Up to 12,500 rupees.
What will happen with the rebate?
Whatever your tax is,
It will be zero.
What is the maximum rebate? 12,500 rupees.
If your tax is 12,500 rupees,
So you will get 12,500 rebate.
It will be zero.
If your tax is up to 5,000 rupees,
So you will get a rebate up to 5,000 rupees.
If your tax is 10,000 rupees,
So you will get the rebate up to 10,000 rupees.
What if the tax is 15,000 rupees?
In that case,
Check How much is your total income.
If your total income is up to 5 lakhs, the rebate
provisions will be applied on you.
But if your income is more than 5 lakhs, in that case, you
will be considered that yes, you are so capable, you have
so much capability that you can pay a little tax.
In that case, the rebate provisions, my dear, will not be
applied on you.
The government has given a benefit.
Benefit to those people whose total income is up to 5 lakhs.
And the benefit is that you earn up to 5 lakhs a year.
The total income is 5 lakhs.
After giving the deductions, whatever tax is made, maximum
of 12,500 rupees, that much rebate we will give you.
Yes, but the total income is more than 5 lakhs.
In that case, you do not get any rebate.
This is the point, sir.
Is the point clear?
The government has given a benefit.
There should be applause for this.
I say that this rebate should be increased from 5 lakhs to
10 lakhs, to 12-15 lakhs in income.
It is like this, we poor people are salary class people.
Salary class people earn only this much.
I am saying that from the structure of tax, remove the
people who earn up to 20 lakhs.
You have to take tax from those who earn more than 20-22
lakhs a year.
You should take it from them.
What will you do with the income of 20 lakhs?
What will you do by taking tax?
Anyway, what happens if we want or not?
Dreams are dreams, but our own are our own.
Dreams are dreams.
When is it true?
They are true.
Come, sir.
The government has given a benefit of rebate.
Is the point of rebate clear?
Come, next.
The government has given a benefit, so it has also caused a
loss for you.
Loss in the sense, there is a term called surcharge.
We have just read about tax.
What is tax?
You will get a word now, when you come to practical life.
It is called surcharge.
It puts a charge on you.
What is it?
What I am saying is, it is surcharge.
Surcharge.
The basic meaning of surcharge, if we take it to the basic
meaning, what does it mean?
It means tax on tax.
What? Sir, what did you just say?
What did you just say?
Sir, surcharge means, tax on tax.
Whatever tax you pay, like we have calculated the tax in
the lab rate, that if Mr.
Bachchan earns 20 lakhs, it is a tax of 4 lakhs.
If Mr.
Modi earns 20 lakhs, it is a tax of 4 lakhs and 10 thousand.
We have just calculated the basic amount of tax.
But the government says, that the tax you are paying, even
if it is a small tax, your income should be more than a
particular level.
This is the work of those people, who have a very high
income.
A little more income.
You and I, we are not in it.
No surcharge is applied on us.
We are people below 2.5 lakhs.
Income tax is not even applied on us.
I am talking about those people, who have a very high
income.
High income group, high income individuals, the income tax
applied on them, apart from that income tax, a small tax is
also applied, which we call surcharge.
Whatever tax is paid, a particular percentage of that tax,
is called surcharge.
For example, if you pay a 100 rupees tax, and the
government tells you, that you have a 10% surcharge.
10% surcharge.
So, what will you apply 10% on?
What will you apply 10% on?
Will you apply 10% on your total income?
Or will you apply it on income tax?
You pay a 100 rupees tax.
I am not talking about income.
I am just telling you, that you pay a 100 rupees tax.
And your total income for the whole year, is more than that
particular limit.
You are a high earning individual.
You have a high earning.
A surcharge is applied on you.
The government tells you, that you have to pay a 10%
surcharge.
So, what will you apply 10% on?
Will you apply it on income, or will you apply it on tax
amount?
This is something to think about.
Think before you answer.
The answer is written on the whiteboard.
This percentage, will you apply it on income, or will you
apply it on tax?
Think before you answer.
The answer is, you will apply this percentage on tax.
Tax on tax.
We have applied a small tax on tax.
We have not applied tax on income.
We have applied tax on tax.
So, suppose you get a 100 rupees tax.
On this, as the government says, there is a 10% surcharge.
So, here, 10% of 100 rupees is 10 rupees.
You pay this surcharge.
So, now your total tax will be 110 rupees.
Till now the calculation we have done for slab rate, we
have done it for this thing, for this thing.
We have learnt how to calculate this in slab rate, this
figure.
Now we will learn how to calculate surcharge.
It is a mandatory thing, it is compulsory.
What are the rates, how it is calculated.
Come, I will take you to the world of surcharge.
What is surcharge?
First thing, now we will discuss about individuals.
We will discuss about individuals.
In individuals, I have told you the first thing that the
high earning individuals, who have a lot of income, this
surcharge is applied on them.
So sir, how much income do you have?
See, if your total income, if your total income is up to 50
lakhs for the whole year, up to 50 lakhs, see sir, 50 lakhs
per year is a big thing.
It is a big thing.
4 lakhs per month is your total income.
You become a rich person in India.
You become in the top 1% population.
According to a study, a survey, if you earn more than 50
lakhs per year, in India, in terms of rupees, you earn more
than 50 lakhs, you become one of the top 1% rich people in
India.
Top 1% rich people.
According to a survey, top 1% rich people earn more than 50
lakhs.
So you become one of the top 1% rich people.
More than 50 lakhs.
So these provisions will be applied on those who are the
top 1% rich people.
People like you and me can only dream.
But sir, as they say,
if you keep going, your time will come.
And I am not saying my time will come,
I will bring my own time.
Don't wait for my time to come.
My time will come.
I will bring my own time.
Don't wait for anything.
You have to go.
You have to go like a lion.
You have to catch the prey with a claw and tear it apart.
This is life.
If you want to live, then live like a lion, sir.
Lives don't run like goats.
Anyone can come and hunt and leave.
Become like a lion.
Stay quiet.
Keep an eye on your aim.
Keep an eye on the prey.
Have you ever seen in your discovery?
When a lion hunts in the jungle, it becomes quiet.
If a deer is going in front, the lion becomes quiet.
It doesn't even make a sound quietly.
It just jumps behind it.
This is how you have to do it.
If you are going to achieve something big, be quiet at that
time.
Don't tell anyone about your plans, what you are going to
do.
People get jealous, sir.
People get jealous.
It's okay.
Don't tell anyone.
Yes, we are ruined.
It's okay.
We will be ruined for two more months.
But when there is a prey, then people will know what you
are.
When you hunt, then you will have value, sir.
Achieve your aim like a lion hunts.
Become like a lion.
You have to become like a lion in life.
Only then you will enjoy life.
Have you ever seen Modi ji walking?
He looks like the king of the country.
He looks like a walking lion.
Say like this.
Anyway, what we were talking about?
We were talking about up to 50 lakh rupees.
See, while talking to you,
I get lost in the flow.
I don't remember myself.
If you earn up to 50 lakh rupees, up to 50 lakh, then it
won't be accepted that you are in 1% appeal.
If you earn more than 50 lakh, then you will be in 1%
appeal.
And I pray from the bottom of my heart that one day, you
and I will come in the bracket of 50 crores.
We will pay maximum tax.
Income tax people come to our house to print.
If it is up to 50 lakh, then nothing.
It is nil.
Sir, what are you saying?
Sir, income tax people come to print.
Sir, it has a different fun.
From 50 lakh, if you earn up to 1 crore, in that case, now
you are in 1%
India's 1% rich people.
Sir, in that case, 10% of tax.
10% of tax.
Can you see the data?
You have to pay 10% of tax.
From 50 lakh, if you come in the income grade of 1 crore,
10% of the tax amount will be your surcharge.
Shift it a little here.
Okay, sir.
From 1 crore, from 1 crore to 2 crore, you come.
So, 15% of the tax amount.
15% of the tax.
From 2 crore to 5 crore, from 2 crore to 5 crore, 25% of
the tax amount, 25% of the tax amount is your surcharge.