Monday, December 8, 2008

GConnect Income tax calculator for the year 2008-09

Estimation of income tax for this year is very important as we are in the new pay scale and have drawn arrears for previous years too. Needless to say, the end result is we have to pay more tax than the previous years.
But tax planning at an early date may reduce some of your tax burden. For example, you may want to go for a tax saving instrument and pay for it in easy installments rather than paying in lump sum at the end of the year. If nothing works, if you know your taxes now, you could ask your administration to deduct your tax liability on monthly basis from now onwards atleast.
For your ease and prudent tax management, GConnect has come up with a full fledged online Income tax software for the year 2008-09, which will be definitely useful for finding out your tax liability, tax treatment on your house property, HRA, 6CPC arrears etc.