Income Tax Calculation made SIMPLE ✍️ Still confused about income tax slabs? This handwritten breakdown shows exactly how to calculate Income Tax for FY 2025-26 under the New Tax Regime. ✔️ Slab-wise calculation ✔️ ₹20,00,000 income example ✔️ 4% Health & Education Cess ✔️ Final tax payable clearly explained If you’re a student, salaried employee, or CA aspirant, this is basic knowledge you cannot afford to skip. 👉 Save this post – you’ll need it while filing ITR. 👉 Share with someone who stil

India's tax system is a mix of Central and State levies, primarily split into Direct Taxes (Income Tax, Corporate Tax) and Indirect Taxes, with the major indirect tax being the unified Goods and Services Tax (GST), replacing many older indirect taxes like VAT and Service Tax. Individuals face a progressive income tax with slabs, choosing between old (with deductions) or new (simpler, fewer deductions) regimes, while corporations pay taxes on profits, and GST applies to most goods and services. D