📌Income Tax Basics (Part 1)Total Income Computation" #shorts #youtubeshorts #trending #shortvideo @cadeveshthakur 📌 **How to Compute Total Income & Tax Liability in Simple Steps!** 💼📊 Are you confused about how to calculate **Total Income** and determine **Tax Liability** under the Income Tax Act? This video breaks it down for you — step-by-step and in a very student-friendly manner! 👇 Here’s what you’ll learn in this short: ✅ **5 Heads of Income:** 1️⃣ Income from Salary (with standard deduction, allowances, and professional tax) 2️⃣ Income from House Property (Net Annual Value and u/s 24 deduction) 3️⃣ Profits & Gains from Business or Profession (P\&L adjustments, disallowable expenses, exempt incomes) 4️⃣ Capital Gains (with exemptions u/s 54 to 54H) 5️⃣ Income from Other Sources (with deductions u/s 57 like family pension) ✅ **Total Income Calculation:** All 5 heads are totaled after necessary deductions and adjustments. Follow Playlist for Income Tax Return (ITR) Filing FY 2024-25 | Complete Guide https://www.youtube.com/playlist?list=PL1o9nc8dxF1R4FZlmK-5tIighYB0vxu3L ✅ **Tax Computation:** 💡 Gross Total Income ➖ Deductions u/s 80C to 80U \= **Net Income** 🔹 Tax computed as per OTR or NTR 🔹 Rebate u/s 87A for income up to ₹5L (OTR) or ₹7L (NTR) 🔹 Surcharge (if income more than ₹50L) 🔹 Health & Education Cess @4% ➖ Rebate u/s 86–91 ➕ Interest u/s 234A, 234B, 234C ➖ Prepaid Taxes (TDS, Advance Tax, Self-Assessment) 📋 Final result = **Tax Liability** for filing your Income Tax Return! 🎯 Perfect for: 🔸 CA Students | B.Com | Taxpayers | Beginners in Tax 🔸 Anyone looking to understand income tax calculation practically. 💬 *#CADEVESHTHAKUR* ✨ Happy Learning | Stay Connected! Index 00:00 to 00:20 How to compute Total Income 00:21 to 01:00 5 heads of Income 01:01 to 02:22 How to compute total income from 5 heads of income incometax, incometaxindia, taxcomputation, taxfiling, incometaxreturn, itrfiling, caindia, cafoundation, cainter, cafinal, caclass, incometaxstudent, taxeducation, taxation, headsofincome, incometaxcalculator, grossincome, taxliability, deductions, rebateu87a, surharge, hec, taxfiling2025, incometax2025, itr2025, tds, advanceTax, selfassessment, section80c, taxplanning, cadtalks, cadeveshthakur, caguide, bcom, taxbasics, incomefromsalary, incomefromhouseproperty, capitalgains, profitsandgains, incomeother, headsofincome, gst, finance, education, studentlearning, shortsvideo, ytshorts, taxshorts, taxupdates, incometaxindia2025 #viral #shortvideo #viralvideo #shortsvideo #shorts #youtubeshortsvideo #shortsyoutube #viralreels #viralshorts #viralshort #trending #cadeveshthakur #ytshorts #youtubeshorts #youtubeshorts income tax slab 2024-25,income tax calculation 2024-25,income tax calculator,income tax calculation,income tax new regime 2024-25,income tax new regime,new income tax calculation 2024-25,how to calculate income tax 2024-25,new tax regime calculation,income tax new regime tamil,income tax new regime vs old regime malayalam,how to calculate income tax,income tax calculator 24-25,how to calculate income tax on salary 2024-25,old tax regime vs new tax regime 2024-25
