Income Tax Basics and Tax Rates

The video tutorial explains the basics of income tax, including key terminologies, tax rates for individuals and companies, and the differences between the old and new tax regimes. It covers the concept of the basic exemption limit, the importance of residential status, and the calculation of taxes with surcharges and cess. The tutorial concludes with a suggestion to refer to the Income Tax Act for a comprehensive understanding.

Describe the concept of 'assessee' in the context of income tax.

How often are income slabs revised, and what is the significance of the budget in this context?

What is the health and education cess rate applied to income tax?