In the Budget proposals for the year 2010-11 presented by Finance Minister Mr.Pranab Mukarjee, Income tax rates for individuals have been modified to a greater extent. Yet in the background of inflation and implementation of sixth pay commission report the salaried class feels that measure is half-done.

Income Tax Rates 2010-11 (Assessment Year 2011-12) for individual and HUF

New Income Tax rates have been announced in the Budget speech by the Finance Minister.

As demanded by many of GConnect members and readers, the GConnect tool for calculating Income tax relief under Section 89(1) now caters Senior Citizens also.

Income tax department had earlier issued the Circular No: 1/2010 dated 11.1.2010 meant for deduction of tax at source for salaried class. However, it had lead to various doubts, especially the treatment under Section 80 CCD relating to Contribution made by employer for pension fund such as New ...

The Income tax Department has issued notification on 11.01.2010, for envisaging procedures for income tax deduction from salaries under Section 192 of the Income tax 1961 for the financial year 2009-10. It could be seen that there is no major deviation from the tax proposals announced by the Government ...

Mr.B VENKATESAN, a GConnect member sought certain clarification on income tax exemption available for the interest on higher education loan. This prompted us to present this brief on exemption under Section 80E.

Now you can calculate the income tax for the year 2009-10 (A.Year 2010-11) using the new GConnect Instant Income tax Calculator without any need to login.  This tool has been provided to those who doesn't want to register for getting username and password. However, this tool will not remember the data ...

We have come up with an online tool for calculating rebate under Section 89(1) of Income Tax Act for Second Installment of Sixth Pay Commissioner Arrears.  This Calculator would get you the exact Income tax exemption while distributing the arrears amount to previous years in which the enhanced salary is ...

You must have just taken a long breath two months back after filing your IT Returns for the last financial year. Yet you got to be ready for tax planning this year as you might have already received a call