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2009-10)
Tagged with: assessment year 2009-10, income calculator 2008-09, income tax 2008-09, IT
calculation
Sunday, October 5, 2008
This article is posted in Personal Income Tax category and has 39 Comments so far.
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Check this Online Income Tax calculator for estimating your Income Tax for the year 2008-
09
Tax
Income Slab
Rate
Up to Rs.1,50,000 (Male) / Up to Rs 1,80,000 (Female) / Up to
NIL
2,25,000 (for resident individual of 65 years or above)
Rs. 1,50,001 to Rs. 3,00,000 (Male)/ Rs 1,80,001 to Rs 3,00,000
10%
(Female)
Rs. 3,00,001 to Rs. 5,00,000 20%
Rs. 5,00,001 and above 30% *
* A surcharge of 10 per cent of the total tax liability is applicable where the total income
exceeds Rs 10,00,000.
• Education cess is applicable @ 3 per cent on income tax, inclusive of surcharge if there is
any..
• Agricultural income is exempt from income-tax.
Get these Calculators given below to calculate your HRA exemption and Income/Loss on House
Property :
Proof to be given
Exemption Amount
to Employer
House Rent Least of the following Proof of rent paid:
Allowance (Sec
10(13A) 1. HRA Received 1. Receipts of rent
paid
2. Rent paid less 10% of Salary
2. Lease
3. 50% of Salary if residential house is in agreement with
Mumbai, Chennai, Delhi and Calcutta, your landlord. (On
40% of Salary if residential house is in any stamp paper)
other city.
Conveyance Rs.800 per month No proof is
Allowance required
Reimbursement Max. Rs. 15,000 per annum for Medical expenses
for Medical reimbursement of expenses on medical bills/ receipts.
Treatment treatment (expense incurred during the
current financial year April to March).
Leave Travel Actual amount spent in connection with Names of persons
Concession proceeding on leave to any place in India. traveled, Travel
Exemption is available only for 2 journeys ticket.
in a block of 4 years from 1-1-2006 to 31-
12-2010. (Section 10(5) of the Income Tax
Act).
Related Posts
• GConnect Income tax calculator for the year 2008-09
• Income/Loss from House Property
• IT Exemption for HRA - Should we take DA ?
• Income Tax Relief for 6CPC Arrears under Section 89(1)
• Tax Benefits of Health Insurance
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1.
I want to know the income tax of assessment year 2009-10 of a woman. Details of
income given below. Pls replay soon
salary income Rs. 35,000/- p.m
LIC 1 Rs. 36,000/- p.a
LIC 2 Rs. 12000/- p.a
House Loan EMI Rs. 13,000 p.m
Rgds
Sheeja
2.
I want to know the net taxable income, and also the net tax payable for the assessment
year 2009-2010
3.
I want to know house loan EMI is included in chapter VI ( Sec 80 C)Rs. 1lakh
4.
Sheeja
5.
1. whether arrears received under 6th CPC will be entirely taxable in this ass.yr.
2. what is the max. amount that can be saved ?
6.
it is tremendously made and very is to understand. on sigle glance i could able to solve
the mess in my mind.
7.
Is 10% of (basic payt + grade pay) contribution from government for NPS will be
included in the monthly salary of new recruits after 1 jan 2004 ?,
from TDS 2008-2009 rules salary definition on page 15,it seems that government 10%
contribution will not be included in salary from this financial year. Can somebody help
me on this issue?. Previously government 10% contribution is added to the salary(refer
TDS rules 2007-2008).
8.
please let us all know that is arrears taxable? If yes, separately or otherwise?
9.
10.
11.
please clarify more detail about type of mutual fund ?and for how many years lockedup?
12.
13.
I have some previously Invested NSC, some of them are invested 1 and 2 year back. Will
I get deduction under 80CC for Accrued interest of nearly Rs.14900 for those NSC for
AY 2009-2010? So I could invest only Rs. 85100 to get the benifit of Rs. 100000 under
80CC.
14.
please reply - Where the Interest paid on house loan be taken in to account while
computing income tax ?
15.
Is benefit of U/S 80-C shall be exetended to the employee where the total salary income
exceeds Rs 10,00,000.
16.
17.
18.
Please let me know what is the treatment for personal pay. It is exempted OR Fully
taxable OR partly taxable
19.
Pl let me know how the computation of the pay for deduction of rent paid vis-a-vis HRA
received in terms of section 10 of IT Act is to be computed?
That is, is the band pay to be added to the grade pay when computing 40% of the pay?
20.
Sir,
Please tell us how calculate income tax on arrear of 6 PC (40%)
21.
Whether tuition fees paid on college education of children can be claimed for income tax
deduction under Section 80 C
22.
23.
Income tax relief available under section 89(1) of income tax for arrear received for
earliar year in 2008-09 due to implementation of 6th pay commission.
24.
Can any one clarify Transport Allowance(TA) Rs. 3200 is taxable or not?? in Our Office
they are giving Tax rebate only on Rs 800 of TA, remaing(3200-800=2400) is taxable
income. Is there in clear clarification from govt side regarding the TA of amout os Rs
3200. People are just following swami’s book as guide lines. What is the govt View. the
reaming is taxable then its definitely not good thing, its like giving in one hand and
taking from other hand.
25.
Suppose an individual submits two HOME LOAN certificates with interest and principal
components remited during a financial year for two different house properties/same
house property and claims the concession for total interest and pricipal under the relavent
heads. I want to know whether his claim is correct or not. I said he is eligible for only the
first home loan concession regarding IT Rules and not the second one.Let me know the
correct one.
26.
Can you please send me the details of income tax and indirsect tax ( excise ) for the
assessment year 2009-10 on my email address
27.
28.
Can any one clarify Transport Allowance(TA) is taxable or not?? .if not any limit given
29.
30.
Mohan
31.
32.
What is the minimum taxable income to file return to ACIT 13(1)(autonomous bodies) in
Bangalore for asst. yr 2009-10 - srinath
33.
sir, my
son is studying master’s degree in australia in multimedia and graphic design in monash
university, melbourne. i took education loan jointly and i am repaying interest for the
loan. pl. inform me whether iam eligible for exemption under section 80E for the
interest? if so how to compute in income tax. ie whether ful exemption shall i get?
34.
Please send the Income Tax Form for the assessment Year 2009-10
35.
Sir, My father is retired from amravati muncipal corporation and his pension is Rs- 7500.
I am scientific officer in indian railways .I want to know wheather he can avail all
facilities like dependent parents.
Kindly comments .
36.
I have been paid Rs.22176 towards HRA for the financial year 2008-09. My question is ,
should this amount calculated as per method of IT Expemtion for HRA or should i get
maximu rs.24000 exemption under section 80GG?
37.
38.
39.
I have earned an interest on fixed deposits in the Bank for which TDS has already been
deducted by the Bank @ 10%. I am paying tax in the 30% category from my salary. My
question is whether I have to pay the remaining tax(20%) on interest in addition to the
10% deducted by the Bank
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