gauritomar Started The Discussion:
Income Tax Rates for Year 2008-09
For Males
For Year 2008-2009

Taxable Annual Income Slab (In Rs.)
Tax Rate (In %)
Upto Rs. 1,50,000/-
Nil
Rs. 1,50,001/- to Rs. 3,00,000/-
10%
Rs. 3,00,001/- to Rs. 5,00,000
20%
Above Rs. 5,00,000/-
30%

For Females
For Year 2008-2009

Taxable Annual Income Slab (In Rs.)
Tax Rate (In %)
Upto Rs. 1,80,000/-
Nil
Rs. 1,80,001/- to Rs. 3,00,000/-
10%
Rs. 3,00,001/- to Rs. 5,00,000/-
20%
Above Rs. 5,00,000/-
30%

For Senior Citizen
For Year 2008-2009

Taxable Annual Income Slab (In Rs.)
Tax Rate (In %)
Upto Rs. 2,25,000/-
Nil
Rs. 2,25,001/- to Rs. 3,00,000/-
10%
Rs. 3,00,001/- to Rs. 5,00,000
20%
Above Rs. 5,00,000/-
30%


regards,
Gauri Tomar
16th June 2008 From India, Delhi

Hi Guari,
Nice posting.
I m very keen to work on income taxes & exemptions.
But have very little knowledge about it as never got opportunity to on these issues.
1. Can you please help me out in preparing form 16 for the staff.
We have 14 staff with a salary range of 8,000 to 35,000.
2. How should i design their package components so that to reduce tax burden. Please tell me the maximum exemption one can avail on various components of salary like maximum exemption on conveyance is 800 p.m.
3. I know about tax slabs for male female & sr. citizens, What is tax exemptions & how can we utilise it in reducing our taxes.
Your early reply in the matter would be highly appreciated.
Regards
Shikha Jain

16th August 2008 From India, Bangalore
Hi Friends,
I m very keen to work on income taxes & exemptions.
But have very little knowledge about it as never got opportunity to on these issues.
1. Can you please help me out in preparing form 16 for the staff.
We have 14 staff with a salary range of 4,000 to 77,000.
2. How should i design their package components so that to reduce tax burden. Please tell me the maximum exemption one can avail on various components of salary like maximum exemption on conveyance is 800 p.m.
3. I know about tax slabs for male female & sr. citizens, What is tax exemptions & how can we utilise it in reducing our taxes.
Your early reply in the matter would be highly appreciated.
Regards
Smoronika

25th August 2008 From India, Visakhapatnam
Thanx....
Good content u posted!!
can you please provide me with some more information on this??
I am fresher and this could help me to upgrade my knowledge.
my email id:
kindly do the need fill!!
27th September 2008
Hi Gauri,
This is Kapil Goyal, I am in payroll team. I just want to enchance my knoweldge about the tax implication. Let's take an example- My CTC is 14313/- Is there any tax implication or not? and how will you calculate my salary?
Basic -
HRA -
Conveyance -
PF (Employee)-
PF (Em[ployer)-
TDS-
Special allowance-
Regards
Kapil Goyal

18th October 2008 From United States, New York
Hi Sharma Please qlikbelow link for Tax calculator, hope it will help u (http://www.taxmann.com/taxmanndit/xtras/taxcalc.aspx) at http://www.taxmann.com/taxmanndit/xtras/taxcalc.aspx
13th November 2008 From India, Bangalore
Thank you Gauri................But like others i would be really thnak ful to you if u could mail me the tax calculator on my id because i wanna prepare for a functional interview which is scheduled next week......since i am also afresher i would like to know about it......
Thanking you in advance
also if anyone who is reading this has any info on tax ans salary realted thing lease email me on my id.......thanking you all.................
14th November 2008 From India, Madras
Hi Gauri,
I am impressed the way you have simplified the Taxation calculation together. I have some querries. Can you gime me your mail ID an then I can send you my querry in that, related to Taxation. and how much saving can we show in our earning.
Thanks:idea:
27th November 2008 From India, New Delhi
Hi Gauri,This is Purnima, I am in payroll team. I just want to enchance my knoweldge about the tax implication. Let's take an example- My CTC is 200000/- Is there any tax implication or not? and how will you calculate my salary and PF?What is the procedure?Basic -HRA -Conveyance -PF (Employee)-PF (Em[ployer)-TDS-Special allowance-RegardsPurnima
12th December 2008 From India, Hyderabad
just cut off ur HRA i.e entitled 2 u & PF i.e. 12% of ur basic for yr 2008-2009 from ur CTC, if there are some medical allowance then cut it from ur CTC,
After cutting all these from ur CTC u will get ur CTC under tax.
then minus 180000 from CTC under tax, u will get ammount on which u hv to pay 10% tax, But i m thinking u r not liable to pay tax..
hv a nice day.
regards
experience....
14th January 2009 From India, Delhi

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