Indian IT Calculator and comparator for FY2010-11

Please click here to go the page with the download option for the income tax calculator for FY 2010-11 as per the Budget presented on February 26, 2010.

Indian IT Caclulator for FY2009-10

Click here or on the image above to download the Indian income-tax calculator for the financial year 2009-10. This now takes into account the proposals tabed by FM, Mr. Pranab Mukherjee on 06-July-2009.

Please bookmark this site or the target URL to use the latest version.

The default parameters are set for a male, salaried employee working in Bangalore. In case you find any discrepancies and/or if you have any suggestions, please leave a coment on this blog.

Budget and tax implications for salaried class

In a nut-shell, following are the tax implications for the salaried class based on the Budegt tabled by Pranab Mukherjee on 06-July-2009.

1. Tax exemption limit raised by 15,000 for senior citizens and by 10,000 for all other segments

The new tax slabs are as follows:

Senior Citizens:

0 - 240000 -NIL

240001 - 300000 - 10%

300001 - 500000 - 20%

> 500000 - 30%

Women:

0 - 190000 -NIL

190001 - 300000 - 10%

300001 - 500000 - 20%

> 500000 - 30%

Men:

0 - 160000 -NIL

160001 - 300000 - 10%

300001 - 500000 - 20%

> 500000 - 30%

2. Tax benefit raised to 1,00,000 from 75,000 for care-take of dependants with "severe" disability

3. Surcharge on taxable income greater than 10,00,000 is now NIL.