Income Tax Calculator For The Year 2010-2011 - XLS Download

Hi Friends,
I am herewith sharing you the calc for Income tax for the next financial year 2010-2011, hope it will be useful..

Useful one............................................... .................................................. .................................................. ..................................

a major source of tax saving, sodexo coupons may not be available for long,,. The company has been found operating a factory without licences for many years. Voucher printing has been taking place here for many yeras. They may have to shut down the only factory in India soon

Thaxs for sharing the file... but I have one query. We are deducting Professional Tax. Can we get deduction of this amount in income tax? If yes from where it has to be deducted?

Dear Mr.shinde,
We can get the deduction for professional tax under sec 16(iii) under Income tax act 1961.
For more clarity visit <link no longer exists - removed>
AND
Deductions from salaries.
6316. The income chargeable under the head Salaries shall be computed after making the following deductions, namely :
(i) 64[***]
65[(ii) a deduction in respect of any allowance in the nature of an entertainment allowance specifically granted by an employer to the assessee who is in receipt of a salary from the Government, a sum equal to one-fifth of his salary (exclusive of any allowance, benefit or other perquisite) or five thousand rupees, whichever is less;]
66[(iii) a deduction of any sum paid by the assessee on account of a tax on employment within the meaning of clause (2) of article 27667 of the Constitution, leviable by or under any law.]
(iv) 68[***]
(v) 69[***]

hi everyone. i am mba hr student. i am intrested in giving ncfm modules. in which way will it be useful for me? plz guide me.
amit

Dear Mr.Hariprasad,
Many thanks. You have shared something very useful, that too before the FY 2010-11 is yet to begin. I have passed it on to our colleagues in Finance Section. Keep posting such useful tips.
Warm regards,
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It's a superb and simple calculator that I have seen. Very good one.
Can it be extended to show us the monthly breakup if possible.

nice xl sheet. Children Edu. allowance (tax exemption) is missing. similarly, Fuel & maintenance charges exemption for vehicles, club allowance exemption, children Hostel exp. exemption are missing.

Thanks Hariprasad.
I had one doubt regarding the filling up of a few columns such as EPF. There is a employee contribution also in my CTC. What do i do in this case?
Can I have your Email ID so I can communicate with you? Mine is [Login to view]
Regards,
Ram