COMPUTATION OF INCOME TAX for D.O.

B
for the financial year 2008-09 SEX - M
0 PAN-NO 0
1. Gross Annual Income/Salary(include all allowances) 0
2. Less: Allowances exempt u/s 10
(I) H.R.A. exemption 0
(II) Conveyance allowances(Max Rs.800/-p.m) 0
(iii) Any Other allowances (specify)---- 0 0
3. Income under the head salaries 0
4. Add: Any other income from other sources
1. Interest received from following Investments
a. Bank ( Saving /FD /Rec ) 0
b. N.S.C.(accrued/ Recd ) 0
c. Post Ofice M.I.S (6 yrs.) 0
d. Post Office Recring Deposit (5 yrs.) 0
e. Term Deposit (1 to 5 yrs.) 0
f. Saving Bonds (6yrs.) 0
g. Kishan Vikas patra 0
2. Any Other Income (specify)--- 0
3. Any Other Income (specify)--- 0 0
5. Income from house property 0
Less: Interest paid on housing loan(max150,000) 0 0
6. Gross Total Income 0
7. Less: Deduction under Sec 80C
a. PF&VPF Contribution 0
b. Life Insurance premiums 0
c. PPF a/c Contribution 0
d. N.S.C (Investment +accrued Int first five year) 0
e. Housing. Loan (Principal Repayment ) 0
f. Tuition fees for 2 children 0
g. E.L.S.S(Mutual Fund) 0
h. Tax Savings Bonds 0
I. FD (5 Years and above) 0
j. 80 ccc Pension Plan 0 0
8. Less: Deduction under chapter VI A
b. 80 D Medical Insurance premiums 0 0
c. 80 E Int Paid on Education Loan 0
d. 80G Donation to approved fund 0
e. Any other (Specify)--- 0 0
9. Total Income 0
10. Total Taxable Income (Round off to nearest 10 rupees) 0
11. Tax on Total Income NIL
12. Surcharge on Total Taxable Income 0
13. Total Tax Payable 0
14. Add; Edn Cess @ 3% 0
15. Net Tax Payable 0
16. Tax Deduction at Source 0
17. Balance Tax Payable/Refundable Refundable 0
 Free- Auto Tax Calculator by B.P.Choudhary (Tax Con
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TAX RULES&OTHER USEFUL INFORMATION
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 Free- Auto Tax Calculator by B.P.Choudhary (Tax Consultan
Calculate your Tax in Just 5 Minutes
Version 1.0 for the Financial year 2006- 07 & Version 2.0 for the Financial year 20
Available free, Mail me at ( bpchoudhary@consultant.com) or( bpchoudhary@gma
Hello-Dears- I am Bijender Pal Choudhary. I am not a Software Professional, but am a Tax Con
Prepared this Auto Tax Calculator with the information I have.
This tax calculator may help to calculate the estimated tax payable by you.
If you find any inconsistency,correction or amendment
will try to fix it at the earliest . Please send a detailed e-mail at bpchoudhary@cons
bpchoudhary@gmail.com

This Calculator will be used to compute the Tax for salaried individuals only.
Easy to understand & similar as form 16.
You can Calculate your Income Tax in Calculation Sheet & print the Computation Sheet to use with your return filing.
Once you enter the amount in the yellow-colored cells. Other cells in Calculation & Computation Sheets will calculate data & Tax automa
5 Follow the Tax Rules & Informations (where applicable). Following ready reaconer is for your refference.
TAX RULES&OTHER USEFUL INFORMATION
u/s 10 HRA exemption = minimum of (40% (50% for metros) of Basic+DA or HRA or rent paid - 10% of Basic+DA)
u/s 10 Transport allowance is exempt upto Rs.800/- per month provided the person is in India during the month. For people having perman
exemption is Rs.1,600/- per month
u/s 10 Vehicle maintenance exemption can be claimed if you use a car for travel to the workplace. In such case, exemption can be claimed
maintenance amounts. The exemption is available to the tune of Rs.1,200/- per month if the engine capacity is less than 1600cc and Rs.1,60
is more than 1600cc. In case the amount includes driver's salary, there is an additional exemption of Rs.600/- per month. When this exemptio
exemption is not available.

u/s 10 Medical bills are exempt for self and dependent family, upto Rs.15,000/- per annum
u/s 10(5) LTA is exempt to the tune of ecomony class Train/ Air /Recognised public Transport fare for the family to any destination in India,
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
u/s 24 There is an Exemption for interest on housing loan. If the loan was taken before Apr 1, 1999 exemption is limited to Rs.30,000/- pe
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 out
This exemption is available on accrual basis, which means if interest has accrued, you can claim exemption, irrespective of whether you've p

If you have rented out your house, enter the total income/loss from the house (after deducting property tax and standard maintenance expen
u/s 80D Medical Insurance (such as Mediclaim) premium is exempt upto (Rs 10,000/- for 2006-07) Rs.15,000/- for 2007-08 per year. If the p
dependent who is above 65 years of age, an extra Rs.5000/- can be claimed
u/s 80DD Deduction in respect of medical treatment of handicapped dependents is limited to Rs.50,000/- per year if the disability is less
year if the disability is more than 80%
u/s 80DDB Deduction in respect of medical treatment for specified ailments or diseases for the assesse or dependent can be claimed
person being treated is a senior citizen, the exemption can go up to Rs.60,000/-
u/s 80E Interest repayment on education loan (taken for higher education from a university of self & dependents) is completely tax exemp
u/s 80G Donations given for certain charities are tax exempt. Some are exempt to the tune of 50%, whereas others are 100%.
u/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 inco
income or Rs.24,000/- per year)
Interest earned from all sources is to be included. All interest income is fully taxable
u/s 80U If you have a permanent physical disability (including blindness), you can take an exemption (subject to maximum of Rs.75,000/-
u/s 80C Investments up to 1 lac in PF, VPF, PPF, Insurance Premium, Housing loan principal repayment, NSC, ELSS, etc. are deductible fro
on individual items, for example 1 lac can be invested in Insurance, )

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or two. Once you send a request for our calculator. In future we will send you an updated version autimatically.whenever I update,

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