Modified Tax Calculator2008-09 For any help or queries you may please contact us atRaj Nain 9911112823 mypanandtax@yahoo.comPinki Nain 9911754616 mypanandtax@gmail.comFor Capital Gain Calculation send your details to mypanandtax@gmail.comCAPITAL GAIN CALCULATIONCALCULATION OF INCOME TAXD.O.BAuto Tax Calculator by Raj Nain (Tax Consultant)WORKING SHEET OF INCOME TAXD.O.B12/31/99for the Financial Yr 2008-09/ Assessment yr 2009-10ASSESSEselect from list-for the Financial Yr 2008-09, Assessment yr 2009-10SEX -select from list-NAME :PANVersion 0109 for Financial year 2008- 09 , Assessment year 2009-10NAME :PAN0ADDRESS :PHONE : Email id-For Individual ( Male, Female & Senior Citizen [above-65 Yr] ) with Marginal Relief. This easy /self explanatory calculator is available free of cost for your self calculation. Once you enter the amount in the white blank cells. Other cells will calculate data & Tax automatically.ADDRESS :PHONE : Email id-1. Gross Annual Income/Salary include all allowances)00you are free to call for any queries1. Gross Annual Income/Salary (include all allowances)02. Less: Allowances exempt u/s 10(for Service Period)0If you still required, My professional services are available at nominal charges2. Less: Allowances exempt u/s 100(I) H.R.A. exemption0Rs. 500/- - For calculation of income & Tax ( with Professional advice for saving of tax ) Rs 500/- - For calculation of Capital Gain(I) H.R.A. exemption0City of ResidenceMetroFor transfer of Amount - Contact me for this(II) Conveyance allowances(Max Rs.800/-p.m)0Basic Salary (Basic+DA)00(iii) Any Other Exempted Receipts/ allowances (specify)--0Rent Paid00Cont: me or send your details to mypanandtax@gmail.com mypanandtax@yahoo.com(iv) Professional Tax0H.R.A received00P L E A S E F O L L O W T H E I N S T R U C T I O N S3. Income under the head salaries0(II) Conveyance allowances (Max Rs.800/-p.m)001. This Calculator will be used to compute the Tax for common Individual. Salaried / Business or Profession.4. Add: Any other income from other sources0(iii) Any Other Exempted Receipts/ allowances (specify)--002. You can Calculate your Income Tax in Calculation Sheet & print the Working Sheet for your record.1. Interest received from following Investments(iv) Professional Tax003. Follow the Tax Rules & Instructions(where applicable) go to informations & Rule sheet . For instruction move cursior on cell.a. Bank ( Saving /FD /Rec )03. Income under the head salaries04. HRA Exemption = Least of (40% (50% for metros) of Basic+DA or HRA Receive or Rent paid (-)10% of Basic)b. N.S.C.(accrued/ Recd )04. Add: Any other income from other sources005. Some Other Exempted Receipts/allowances are ( For Detail follow the Information & Rules).c. Post Office M.I.S (6 yrs.)01. Interest received from following Investments1. Medical Reimbursement (Max Rs.15000/- Per annum) 2. L.T.A (as per Rule)d. Post Office Recurring Deposit (5 yrs.)0a. Bank ( Saving /FD /Rec )03. Uniform Allowance (to meet the expenditure incurred on purchase or maintenance of uniform for Official Dutye. Term Deposit (1 to 5 yrs.)0b. N.S.C.(accrued/ Recd )04. Entertainment allowance (for Govt Employees)Max 5000/-f. Saving Bonds (6yrs.)0c. Post Office M.I.S (6 yrs.)05. Academic Allowance (for encouraging academic, research & training pursuits) including Newspaper etc.g. Kishan Vikas patra0d. Post Office Recurring Deposit (5 yrs.)06. Children Education Allowance (Rs.100 P.M. per Child/(Rs.300 for Hostel Expenditure) Max of 2 Children)2. Any Other Income (specify)---0e. Term Deposit (1 to 5 yrs.)06. Some Exempted Income are3. Any Other Income (specify)---0f. Saving Bonds (6yrs.)01. Withdrawal / Maturity received from PF,PPF,Insurance Co., Agriculture.5. Income from house property0g. Kishan Vikas patra02 Long Term Capital Gain6. Gross Total Income02. Any Other Income (specify)---03 Dividend on shares in companies7. Less: Deduction under Sec 80C03. Any Other Income (specify)---04. Interest on Post Office & PPF A/Ca. PF&VPF Contribution05. Income from house property - (Go to cell B57-B63)007. S.N-4(2),(3) Mention Any other income that does not fall under the above heads of incomeb. Life Insurance premiums06. Gross Total Income08. Computation of Income from house property (see cell B56-B62)c. PPF a/c Contribution07. Less: Deduction under Sec 80C (Max Rs.1,00,000/-)09. TAX RATES FOR ( F-YR 2008-09) ASSESSMENT OF MALE ASSESSE FOR YEAR 2009-2010d. N.S.C (Investment +accrued Int first five year)0a. PF & VPF Contribution00Net Income Range Income Tax Ratese. Housing. Loan (Principal Repayment )0b. Life Insurance premiums0Upto Rs. 1,50,000 NILf. Tuition fees for 2 children0c. PPF a/c Contribution0Rs.1,50,000 to Rs.3,00,000 10% of Total Income(-)Rs.1,50,000g. E.L.S.S(Mutual Fund)0d. N.S.C (Investment +accrued Int first five year)0Rs.3,00,000 to Rs.5,00,000 Rs. 15,000+20% of Total Income(-)Rs.3,00,000h. Tax Savings Bonds0e. Housing. Loan (Principal Repayment )0Rs.5.00,000 to Rs 10,00,000 Rs. 55,000+30% of Total Income(-)Rs.5,00,000I. FD (5 Years and above)0f. Tuition fees for 2 children0Above Rs.10,00,000 Rs.2,05,000+30% of total Income(-)10,00,000j. 80 ccc Pension Plan0g. E.L.S.S(Mutual Fund)0TAX RATES FOR ( F-YR 2008-09) ASSESSMENT OF FEMALE ASSESSE FOR YEAR 2009-20108. Less: Deduction under chapter VI Ah. Tax Savings Bonds0Net Income Range Income Tax Ratesb. 80 D Medical Insurance premiums00I. FD (5 Years and above)0Upto Rs. 1,80,000 NILc. 80 E Int Paid on Education Loan0j. 80 ccc Pension Plan0Rs.1,80,000 to Rs.3,00,000 10% of Total Income(-) Rs.1,80,000d. 80G Donation to approved fund08. Less: Deduction under chapter VI A0Rs.3,00,000 to Rs.5,00,000 Rs.12,000+20% of Total Income(-)Rs.3,00,000d. Any other (Specify)---0a 1. 80 D Medical Insurance premiums (for Self )00Rs.5.00,000 to Rs 10,00,000 Rs. 52,000+30% of Total Income(-)Rs.5,00,0009. Total Income0a 2. 80 D Medical Insurance premiums (for Parents)00Above Rs.10,00,000 Rs.2,02,000+30% of total Income-10,00,00010. Total Taxable Income (Round off to nearest 10 rupees)0b. 80 E Int Paid on Education Loan00TAX RATES FOR (F-Yr 2008-09) ASSESSMENT OF SENIOR CITIZEN (Above 65 Year) ASSESSE FOR YEAR 2009-201011. Tax on Total IncomeNILc. 80G Donation to approved fund0Net Income Range Income Tax Rates12. Surcharge on Total Taxable Income0d. Any other (Specify)---0Upto Rs. 2,25,000 NIL13. Total Tax Payable09. Total Income0Rs.2,25,000 to Rs.3,00,000 10% of Total Income(-) Rs.2,25,00014. Add; Edn Cess @ 3%010. Total Taxable Income (Round off to nearest 10 rupees)0Rs.3,00,000 to Rs.5,00,000 Rs.7,500+20% of Total Income(-)Rs.3,00,00015. Net Tax Payable011. Tax on Total IncomeNILRs.5.00,000 to Rs 10,00,000 Rs. 47,500+30% of Total Income(-)Rs.5,00,00016. Tax Deduction at Source012. Surcharge on Total Taxable Income0Above Rs.10,00,000 Rs.1,97,500+30% of total Income-10,00,00017. Balance Tax Payable/RefundableRefundable013. Total Tax Payable0Surcharge is10% of Income Tax if net income is more than Rs.10,00,000 (Also consider marginal relief)14. Add; Edn Cess @ 3%0Education Cess is 2% & Secondary and Higher education Cess is 1% of income tax from all Assesse.15. Net Tax Payable016. Tax Deduction at Source0017. Balance Tax Payable/RefundableRefundable0Computation of Income from house propertyAccomodation Status - SELF OCCUPIED / LET OUTselect from list-Annual Letable value/ Rent Received or Receivable0Less-Taxes Paid to Local Authority0Net Annual Value0Less-Repair & Collection Charges(30% of Net Annual Value)0Less-Interest on Housing Loan00Net Income / Loss from House Property050% 0F Basic Salary0MNIL40% 0f Basic Salary0FNIL0S CITNIL00select from list-MALEFEMALESR CITIZENselect from list-Self OcupiedLet OutMetroNon Metro

Write DATE OF BIRTHSelect ASSESSE Male, Female Senior Citizen from Drop downWrite your FULL NAME with FATHER'S NAMEHRA exemption for salaries people(1) If you are receiving H.R.A & paying rent and showing rent receipts. Enter informations in cells No C9- C12. Otherwise leave blank.for salaried & other people (ii) If you are not receiving H.R.A & Paying rent. Claim deduction u/s 80GG. Follow informations & enter amount in Cell No C 46Least of (40% (50% for metros) of Basic+DA or HRA Receive or Rent paid (-)10% of Basic)Select Metro/Non MetroMetro city (Delhi, Mumbai, Calcutta, Chennai ) other Non Metro(40% for Non Metro (50% for metros) of Basic+DARent paid (-)10% of Basic)Salaried people Enter Gross Annuall Salary or Gross salary received in service Period & Other Enter ANNUALLY TOTAL INCOME [(Gross income - Expenses incured for earn income )Prepare Profit & Loss A/C ]Annually Basic or Monthly Basic X 12 or enter( = Basic received * Duration of Service & Press Enter)Annually Rent Paid or Monthly Rent X 12 orEnter (=Actual rent paid * Time(service Period) & Press enter)Annually HRA Received or Monthly HRA Received X 12 or Enter (=HRA Received * Duration & Press enterFor Salaried - Enter (=Conveyance Allowance Received * Duration & Press Enter)Paid or to be Paid (after 1st Apr 2008 & on or Before 31 March 2009 by LIC or any other Pvt Insurance CO.)Premium Paid for Mediclaim Policy from General Insurance & Critical Illness Cover from Life Insurance for Self,Spouce,Children.Premium Paid for Mediclaim Policy from General Insurance & Critical Illness Cover from Life Insurance for ParentsOnly Tuition Fee for Full time EducationSelf PF & VPF Contributionenter(=Monthly PF/VPF* Duration & Click enter)For Calculation Go to Cell No B56-62Write Permanent account NumberWrite your Permanent Account NOWrite your AddressFor Self Occupied Property Value is 0 For Let Out Write Rent Received/ReceivableWrite your Phone Nos. & e-mail IdMaximum Exemption Rs 9600/- (800 pm + 800/30 X No of Working Days)select from list SELF OCCUPIED/ LET OUT(for Self occupied Residence)MAX Deduction of Interest is Rs.1,50,000/-There is no limit of Interest if the house is rented outMention 100 or 50 % Amount of Donation100 % for Govt Charity Funds & 50 % for other NGO & Institutions etc.Interest Paid on Education loan for full time education of self/children

Information & RulesAuto Tax Calculator by Raj Nain (Tax Consultant)Calculate your Tax in Just 5 MinutesREGARD- Raj Nain 9911112823 mypanandtax@gmail.com Pinki Nain 9911754616 mypanandtax@yahoo.comHello-Dears- I am Raj Nain and Prepared this Auto Tax Calculator for common people. This tax calculator may help you to calculate the estimated tax payable by you. If you find any inconsistency, correction or amendments, please let me know, I will try to fix it at the earliest Please send a detailed e-mail at1This Calculator will be used to compute the Tax for Common individuals.2Easy to understand & similar as form 16.3You can Calculate your Income Tax in Calculation Sheet & print the Working Sheet.4Once you enter the amount in the blank cells. Other cells in Calculation & Computation Sheets will calculate data & Tax automatically.5 Follow the Tax Rules & Informations (where applicable). Following ready reaconer is for your refference.T A X R U L E S & O T H E R U S E F U L I N F O R M A T I O N1HRA exemption = minimum of (40% (50% for metros) of Basic+DA or HRA or rent paid - 10% of Basic+DA)2Transport allowance is exempt upto Rs.800/- per month provided the person is in India during the month. For people having permanent physical disability, the exemption is Rs.1,600/- per month3Medical bills are exempt for self and dependent family, upto Rs.15,000/- per annum4u/s(5) LTA is exempt to the tune of ecomony class Train/ Air /Recognised public Transport fare for the family to any destination in India, by the shortest route.LTA can be claimed twice in a block of 4 calendar years. The current block is from 01.01.2006 to 31.12.2009. For claim, it is must to provide originals tickets etc.5u/s 24 There is an Exemption for interest on housing loan.(for Self occupied Residence). If the loan was taken before Apr 1, 1999 exemption is limited to Rs.30,000/- per year. If the loan was taken after Apr 1, 1999 exemption is limited to Rs.1,50,000/- per year if the house is self-occupied; There is no limit if the house is rented outThis exemption is available on accrual basis, which means if interest has accrued, you can claim exemption, irrespective of whether you've paid it or not6If you have rented out your house, enter the total income/loss from the house (after deducting property tax and standard maintenance expenses).7u/s 80D Medical Insurance (such as Mediclaim & Critical illness Cover) premium is exempt upto Rs. 30,000/ per year (Rs 15,000/- for self,spouse and children ) If the premium includes for a dependent who is above 65 years of age, an extra Rs.15,000//- can be claimed.8u/s 80DD Deduction in respect of medical treatment of handicapped dependents is limited to Rs.50,000/- per year if the disability is less than 80% and Rs.75,000/- per year if the disability is more than 80%9u/s 80DDB Deduction in respect of medical treatment for specified ailments or diseases for the assesse or dependent can be claimed upto Rs.40,000/- per year. If the person being treated is a senior citizen, the exemption can go up to Rs.60,000/-. but any amount received under Medical Insurance Policy will be reduced from the amount of deduction allowed. The Diseases and ailments specified under rule 11DD are. (1)neurological diseases being demetia, dystonia musculorum deformans, motor neuron disease, ataxia, chorea, hemiballismus, aphasia and parkisons disease, (2) cancer, (3) AIDS, (4)Chronic renal failure, (5) hemophilia, and (6) thalassaemia.10u/s 80E Interest repayment on education loan (taken for higher education from a university of self & dependents) is completely tax exempt11u/s 80G Donations given for certain charities are tax exempt. Some are exempt to the tune of 50%, whereas others are 100%.12u/s 80GG If you do not get HRA, but have rented a house, an exemption is available. This will be calculated as minimum of (25% of total income or rent paid - 10% of total income or Rs.24,000/- per year)13Interest earned from all sources is to be included. All interest income is fully taxable14u/s 80U If you have a permanent physical disability (including blindness), you can take an exemption (subject to maximum of Rs.75,000/- per year)15u/s 80C Investments up to 1 lac in PF, VPF, PPF, Insurance Premium, Housing loan principal repayment, NSC, ELSS, etc. are deductible from the total income (there is no limit on individual items, for example 1 lac can be invested in Insurance, )H O W T O G E T A N U P D A T E1This tax calculator constantly gets updated to fix errors found as well as to add new features2This may also be changed when there are changes in tax rules that affect income tax computation3You can send an e-mail for the current version of tax calculato, within a day or two. Once you send a request for our calculator. In future we will send you an updated version autimatically.whenever I update,4I P R O V I D E S E R V I C E S F O RTAX ASSESSMENT(CALCULATION)IT RETURNSPAN CARDCUSTIMISED SAVINGS/INVESTMENTS/ INURANCE SOLUTIONS (LIFE/ NON LIFE)C A L L M E F O R P R E S E N T A T I O N : Raj Nain 9911112823Pinki Nain 9911754616 or M a i l mypanandtax@gmail.com mypanandtax@yahoo.comD-323-A Lajpat Nagar Sahibabad, Gzb, U.P. 201005A D V I S EMostly people gives estimated declaration at year starting to minimise their Tax Liabilities but could not save up to last or face heavy burden in last months, so it is advisable to save from start on monthly basis through Bank ECS as a SAP , Pls. get in touch with me for Tax saving schemes to mininimize your Tax liabilities. I am providing consultancy for Tax assessment and good Customise Security & investment Plans .