Hi Friends, I am herewith sharing you the calc for Income tax for the next financial year 2010-2011, hope it will be useful..
From India, Hyderabad
3From India, Hyderabad
Useful one.....................................................................................................................................................................................
From India, Mumbai
From India, Mumbai
a major source of tax saving, sodexo coupons may not be available for long,,. The company has been found operating a factory without licences for many years. Voucher printing has been taking place here for many yeras. They may have to shut down the only factory in India soon
From India, Mumbai
From India, Mumbai
Thaxs for sharing the file... but I have one query. We are deducting Professional Tax. Can we get deduction of this amount in income tax? If yes from where it has to be deducted?
From India, Mumbai
From India, Mumbai
Dear Mr.shinde,
We can get the deduction for professional tax under sec 16(iii) under Income tax act 1961.
For more clarity visit <link no longer exists - removed>
AND
Deductions from salaries.
6316. The income chargeable under the head Salaries shall be computed after making the following deductions, namely :
(i) 64[***]
65[(ii) a deduction in respect of any allowance in the nature of an entertainment allowance specifically granted by an employer to the assessee who is in receipt of a salary from the Government, a sum equal to one-fifth of his salary (exclusive of any allowance, benefit or other perquisite) or five thousand rupees, whichever is less;]
66[(iii) a deduction of any sum paid by the assessee on account of a tax on employment within the meaning of clause (2) of article 27667 of the Constitution, leviable by or under any law.]
(iv) 68[***]
(v) 69[***]
From India, Hyderabad
We can get the deduction for professional tax under sec 16(iii) under Income tax act 1961.
For more clarity visit <link no longer exists - removed>
AND
Deductions from salaries.
6316. The income chargeable under the head Salaries shall be computed after making the following deductions, namely :
(i) 64[***]
65[(ii) a deduction in respect of any allowance in the nature of an entertainment allowance specifically granted by an employer to the assessee who is in receipt of a salary from the Government, a sum equal to one-fifth of his salary (exclusive of any allowance, benefit or other perquisite) or five thousand rupees, whichever is less;]
66[(iii) a deduction of any sum paid by the assessee on account of a tax on employment within the meaning of clause (2) of article 27667 of the Constitution, leviable by or under any law.]
(iv) 68[***]
(v) 69[***]
From India, Hyderabad
hi everyone. i am mba hr student. i am intrested in giving ncfm modules. in which way will it be useful for me? plz guide me. amit
From India, Pune
From India, Pune
Dear Mr.Hariprasad,
Many thanks. You have shared something very useful, that too before the FY 2010-11 is yet to begin. I have passed it on to our colleagues in Finance Section. Keep posting such useful tips.
Warm regards,
From India, Mumbai
Many thanks. You have shared something very useful, that too before the FY 2010-11 is yet to begin. I have passed it on to our colleagues in Finance Section. Keep posting such useful tips.
Warm regards,
From India, Mumbai
It’s a superb and simple calculator that I have seen. Very good one. Can it be extended to show us the monthly breakup if possible.
From India
From India
nice xl sheet. Children Edu. allowance (tax exemption) is missing. similarly, Fuel & maintenance charges exemption for vehicles, club allowance exemption, children Hostel exp. exemption are missing.
From India, Lucknow
From India, Lucknow
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Income Tax Calculator.xls