Income tax deparment has recently notified New Income Tax returns Form ITR 1, Form ITR 2, Form ITR 3, From ITR 4, Form ITR 5, Form ITR 6, Form ITR 7, Form ITR 8, and ITR V for the year 2008-09 (Assessment year 2009-10) vide Notification No: 32/2009 dated 27-03-09.

"People who complain about taxes can be divided into two classes: men and women." ~Author Unknown Jokes apart, early estimation of income ...

For the Receipt of pay and allowances pertain to previous years as arrears,  Income tax Act provides for a relief under Section 89(1) of the IT Act. It works as follows. Spread the arrears that you have received to the respective years.  For example, if you have received arrears for the last ...

Check this Online Income Tax calculator for estimating your Income Tax for the year 2008-09 Income Slab Tax Rate Up to Rs.1,50,000 (Male) / Up to Rs 1,80,000 (Female) / Up to 2,25,000 (for resident individual of 65 years or above) NIL Rs. 1,50,001 to Rs. 3,00,000 (Male)/ ...