Latest Income Tax Calculator 2009-10 - XLS Download

HI ALL,
ATTACHED NEW FORMAT AS PER UNION BUDGET 2009
PLEASE FIND ATTACHED EXCEL FILE FOR CALCULATING SALARY INCOME TAX AND FOR INVESTMENT DECLARATION, HOPE THIS WILL HELP EVERYONE.
THANK YOU FOR YOUR SUGGESTIONS, KEEP REPLYING. LAST YEAR DATA GIVEN BELOW FOR YOUR INFORMATION.
30-04-2008, 10:40 AM
Replies: 169

[IMG]file:///C:/DOCUME%7E1/master1/LOCALS%7E1/Temp/msoclip1/01/clip_image001.gif[/IMG]LATEST INCOME TAX CALCULATOR 2008-09

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Posted By JOSEPHPATRAO <link updated to site home> ( Search On Cite | Search On Google )
BEST REGARDS
JOSEPH

Dear sir,
I am a Central Government pensioner. This form is not relevant to me. My income derives only from Pension including DA and interest on my savings (including FDs). I think I have to file the income tax in form ITR-1. But this document will be useful to arrive at the amount of income tax to be paid by me while filing the return.
Jassel

Attached file without password

Hello Joseph,
The tax calculator attached has been nicely comprehended in a very simple manner which makes it very easy to understand too; especially for a first timer like me.
1. I would really appreciate if you can elaborate on fixed entries in column "H" viz..160000, 140000, 200000 and 3000 to help me calculate my tax from a woman's perspective (I am not that good at Excel so please excuse).
2. Also, could you please tell me if there is a rule that the tax on bonus has to be immediately deducted on the whole amount in one shot i.e in the same month of release of bonus? If yes, then how to calculate it?
3. Under "other exemptions", is there a limit on the total amount or is it a part of total deduction under chapter VI-A which cannot exceed 100000/-?
4. What the annual professional tax 2400 or 2500/- (karnataka)?
5. Can a "Ltd. Company" in ITES sector deduct ESI and PF (employee strength is 16 as of now)?
An urgent response is highly solicited...
Thank you,
Mamta Singh

And really sorry to bother you Joseph Sir...just one last thing....can a company with emp strength of 16 is liable to issue TDS/form16. If not, what is the option if they are not issuing the same?
-Mamta

Hi Joseph
One addition - the exemption under 80E - ie for the Interest on Educational Loan for higher education is missing. Guess that needs to be added in the middle column.

1 THE AMOUNT GIVEN BY YOU HAVE NO VALUE FOR SALARY THERE IS ALWAYS A HEAD NAME LIKE …. BASIC HRA ETC. PLEASE ENTER THAT IN THE RESPECTIVE HEAD PROVISED IN THE EXCEL SHEET IN “BLUE”2I T ACT SAYS EQUAL TDS HENCE YOU WILL HAVE TO PROJECT THIS IN THE BEGINNING OF THE YEAR IF THIS IS PROFT LINKE THEN KINDLY TAKE HELP FROM A CA3 THIS V-A AND HAS LIMIT TO EACH HEAD LIKE MEDICALIM, ETC 100000 LIMIT IS FOR 80C4 THIS IS NOT 2400 OR 2500 DEPENDS ON SALARY AND NO OF MONTHS PLEASE CHECK THE KARNATAKA PT SLAB. 5 PLEASE GO THROUH THIS SITE EPFO

i am an mba student with hr specialization.i am doing a project on comparison of best hr practices between hospitality sector and printing sector.pls help me in this matter.

Thanks a lot Joseph Sir for prompt response.
I got most of my answers through you.
Just wanted to tell that the figures I'd mentioned as part of question 1) were related to static figures given in column H of your sheet and not basic,hra etc. They seem to be formulated out of tax slab so I tried to get an understanding from you where these figures (160000 given in H19, 140000 given in H21, 3000 given in H29) are coming from?
Regards,
Mamta Singh

Hi if there is no break up in the salary than, this must be contract or consultation fee do not use this format this is only for salaried employees
there is different tax rule for consultants.