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
Views: 77,924
Posted By JOSEPHPATRAO <link updated to site home> ( Search On Cite | Search On Google )
BEST REGARDS
JOSEPH
From India, Mumbai
24ATTACHED 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
Views: 77,924
Posted By JOSEPHPATRAO <link updated to site home> ( Search On Cite | Search On Google )
BEST REGARDS
JOSEPH
From India, Mumbai
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
From India, Ludhiana
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
From India, Ludhiana
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
From India, New Delhi
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
From India, New Delhi
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
From India, New Delhi
-Mamta
From India, New Delhi
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
From India, Mumbai
From India, Mumbai
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.
From India, Calcutta
From India, Calcutta
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
From India, New Delhi
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
From India, New Delhi
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Income Tax Calculator.xls