Tax Calculation for 2008-09: Does This Excel Sheet Help You Manage Your Salary Better?

Dear Members,

I am sending the Tax Calculation Sheet in Excel format for 2008-2009. I think it is useful to all.

Regards,
Rapolu HS

Hi,

Thank you; it is really helpful. I used it. Please clarify where to put gratuity and Ex-Gratia in the calculation chart. Also, what is to be done with the PF contribution of the employer?

Thanks,
Rajneet

Dear Ranjeet,

Sorry for the delay in replying.

The Tax Calculation Sheet is meant for the current Financial Year 2008-2009. While calculating the Tax, Income Gratuity is not covered. If you are receiving the Ex-Gratia on a monthly basis or annually, you can put that amount in the Misc Column and arrive at your Taxable Income.

Regards, Rapolu HS

Hi,

Can anybody clarify the below:

1. Eligibility of Tuition Fees:
A. Child as well as wife
B. For Child: Tuition Fees include the computer fees?

2. Documents for allowing the deduction for Education Loan interest repayment

3. Can the insurance policy premium paid through the credit card be accepted as evidence of premium paid if submitted along with the policy cover note?

4. Is any additional document required, apart from medical bills, for medical reimbursements? Does this include medical tests?

Please respond on a priority basis as we have to settle the TDS issues.

Anurag Jain