2009 Tax Calculator

QUICK TAX CALCULATOR FOR FINANCIAL YEAR 2008-09 (For Salaried Individual) Instructions : 1.Please enter gross annual figures. 2. Please enter values in Yellow colored cells only. DISCLAIMER : This calculator is to help you find out your personal indecative total tax liability. It may not cover all scenarios of Income, Exemptions, Deductions, etc. You are advised to consult any qualified chartered accountant or tax consultant to know your actual Tax Liability. Assessee Type Specify whether Assessee is a Male, Female or Sr. Citizen Components of Salary A.1 Basic Salary A.2 House Rent Allowance A.3 Transport Allowance A.4 Medical Reimbursement A.5 Leave Travel Allowance (LTA) A.6 Special Allowance A.7 Bonus A.8 Other Allowances Gross Salary (A) Exemptions/Deductions B.1 House Rent Exemption Annual Rent Paid Assessee Residing in I) 40% of Basic Salary ii) Actual HRA Received iii) Rent Paid minus 10% of Basic Salary Total House Rent Exemption B.2 Transport Allowance B.3 Medical Reimbursement Total (B) Gross Taxable Salary Income (A-B) Income from Housing Reliefe on Interest paid on Housing Loan Any other Income Gross Total Income Maximim Limit Under Section Rs.0 Other Cities Rs.0 Rs.0 Rs.0 Actual Amount Male Annual Amount Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Eligible Amount Rs.0 U/Sec 10(13A) Rs.0 Rs.0 Rs.9,600 Rs.15,000 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Eligible Amount FY-07-08 Rs.0 N/A Rs.0 Eligible Amount FY-08-09 Rs.0 Rs.0 Rs.0 Rs.150,000 U/S 24(1)(Vi) Rs.0 Rs.0 Rs.0 Maximim Limit Under Section Deduction under Chapter VIA The following tax saving investments may be considered for computation of income tax deduction at source for the financial year. Deduction u/s 80D to 80U Rs.15,000 U/Sec 80D(2A) C.1 Medical Insurance Premium - for the assessee or his family Rs.15,000 U/Sec 80D(2B) C.2 Medical Insurance Premium - for the parent or parents of the assessee C.3 Expenditure on Handicapped Dependents / Deposits made with LIC, etc. for maintenance of handicapped Dependents Disability Percentage of the Handicapped Dependents Less than 80% disability Rs.50,000 U/Sec 80DD C.4 Exp. likely to be incurred on specified disease or ailment (Cancer/AIDS etc.) Exp incurred on senior citizen No Permanent Disability benefit (self) - adhoc amount of (in case of disability Self Disability Percentage Interest on Education Loan (for self education) from Charitiable or C.6 Financial Institution. (No Limit) Total Deduction u/s 80D to 80U C.5 Actual Amount Rs.0 Rs.0 Rs.0 Rs.40,000 U/Sec 80DDB Rs.0 Rs.0 Rs.0 Less than 80% disability Rs.50,000 No Limit U/Sec 80 U U/Sec 80E Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Investments under Sections 80C & 80CCC qualifying for deductions upto Rs.1 Lac D.1 Self Contribution in Provident Fund. Assessee's rate of PF contribution w.r.t Basic Salary is @ D.2 Voluntary Contribution Provident Fund D.3 INVESTMENT IN PENSION SCHEME D.4 HOUSING LOAN PRINCIPAL REPAYMENT D.5 PUBLIC PROVIDENT FUND (PPF) D.6 LIFE INSURANCE PREMIUM PAID D.7 UNIT LINKED INSURANCE PLANS D.8 NSC-NATIONAL SAVING CERTIFICATE D.9 DEPOSIT IN NATIONAL SAVING SCHEME (NSS) D.10 INFRASTRUCTURE INVESTMENT in approved SHARES, DEBENTURES & BONDS D.11 MUTUAL FUNDS notified under SECTION 10(23D) D.12 EQUITY LINK SAVING SCHEME(ELSS) Mutual Funds notified under SECTION 10(23D) D.13 TERM DEPOSIT with a SCH.Bank in a notified Scheme for a term not less than 5 years. D.14 TUTION FEES PAID (Only full time education tution fees paid to any Indian Univ, College, School) D.15 SENIOR CITIZENS SAVINGS SCHEME Rules, 2004 D.16 POST OFFICE TIME DEPOSIT Rules, 1981 for a term not less than 5 years Total Deduction u/s 80C and 80CCC Total Deduction under Chapter VIA Net Total Taxable Income Tax on Total Income As per FY 2008-09 Add Surcharge Add Education Cess 12% Rs.10,000 Rs.24,000 U/Sec 80C U/Sec 80C U/Sec 80 CCC U/Sec 80C U/Sec 80C U/Sec 80C U/Sec 80C U/Sec 80C U/Sec 80C U/Sec 80C U/Sec 80C U/Sec 80C U/Sec 80C U/Sec 80C U/Sec 80C U/Sec 80C Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 N/A N/A Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Total Tax Payable in respective Financial Years Total Tax Savings in FY-08-09 with respect to Tax Payable in FY-07-08 Rs.0 Rs.0 Rs.0 0.00%