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.

Comments

Post a Comment

Popular posts from this blog

6CPC Pay and Arrears - Income Tax Estimation

The lack of clarity over taxation of arrears that government employees will receive following the implementation of the 6th Pay Commission recommendations has finally cleared. The tax on first installment will be deducted in the current fiscal and that on the second installment will be deducted next year when they receive the actual payment. Confusion had arisen about the tax treatment of the pay arrears that central government employees are about to get as part of their latest wage revision. According to finance ministry sources, only the first installment of the arrears would be taxed this fiscal. The taxation, they would be akin to the tax treatment in 1997 when the fifth pay commission recommendation was implemented wherein the tax was deducted at the time of payment.
Read more
UNIVERSITY GRANTS COMMISSION BAHADUR SHAH ZAFAR MARG NEW DELHI-110 002. No. F. 1-2/2016 (PS/PRC) NOTIFICATION 9th June, 2016 1. The UGC in consultation with the Ministry of Human Resource Development (MHRD) hereby constitutes the Pay Review Committee for pay revision of academic staff of Universities and Colleges with the following Terms of Reference (ToRs): To review the implementation of the previous decision of the Government/UGC under the scheme of Revision of Pay Scales approved for University and College Teachers, Librarians, Physical Education Personnel and other academic staff in Universities and Colleges, and in the process, to evaluate the extent to which the earlier recommendations in relation to qualifications, service conditions and pay-scales etc. have been implemented. To examine the present structure of emoluments and conditions of service of University and College Teachers, Librarians, Physical Education Personnel and other academic staff in Universi
Read more