Income tax 2008-09 (assessment year

2009-10)
Tagged with: assessment year 2009-10, income calculator 2008-09, income tax 2008-09, IT
calculation
Sunday, October 5, 2008
This article is posted in Personal Income Tax category and has 39 Comments so far.

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Check this Online Income Tax calculator for estimating your Income Tax for the year 2008-
09

Tax
Income Slab
Rate
Up to Rs.1,50,000 (Male) / Up to Rs 1,80,000 (Female) / Up to
NIL
2,25,000 (for resident individual of 65 years or above)
Rs. 1,50,001 to Rs. 3,00,000 (Male)/ Rs 1,80,001 to Rs 3,00,000
10%
(Female)
Rs. 3,00,001 to Rs. 5,00,000 20%
Rs. 5,00,001 and above 30% *

* A surcharge of 10 per cent of the total tax liability is applicable where the total income
exceeds Rs 10,00,000.

• Education cess is applicable @ 3 per cent on income tax, inclusive of surcharge if there is
any..
• Agricultural income is exempt from income-tax.

Get these Calculators given below to calculate your HRA exemption and Income/Loss on House
Property :

Income / Loss on House Property Calculator

Income Tax exemption for HRA - Calculator

INCOME TAX EXEMPTIONS:

Proof to be given
Exemption Amount
to Employer
House Rent Least of the following Proof of rent paid:
Allowance (Sec
10(13A) 1. HRA Received 1. Receipts of rent
paid
2. Rent paid less 10% of Salary
2. Lease
3. 50% of Salary if residential house is in agreement with
Mumbai, Chennai, Delhi and Calcutta, your landlord. (On
40% of Salary if residential house is in any stamp paper)
other city.
Conveyance Rs.800 per month No proof is
Allowance required
Reimbursement Max. Rs. 15,000 per annum for Medical expenses
for Medical reimbursement of expenses on medical bills/ receipts.
Treatment treatment (expense incurred during the
current financial year April to March).
Leave Travel Actual amount spent in connection with Names of persons
Concession proceeding on leave to any place in India. traveled, Travel
Exemption is available only for 2 journeys ticket.
in a block of 4 years from 1-1-2006 to 31-
12-2010. (Section 10(5) of the Income Tax
Act).

Important deductions under Chapter VI-A of Income tax Act are:

Sl.No. I.T Category Amount of

Section Deduction
1 80C Aggregate of amount paid/ Up to Rs.1, 00,000
incurred/invested towards any of the
following:
a. Premium paid towards Life Insurance
Policy not exceeding 20% of the total
Sum Assured.
b. Any annuity or Deferred Annuity Plan
c. Contribution towards approved
Provident Fund including PPF
d. Subscription towards National Saving
 Certificate
e. Contribution to UTIs Retirement
Benefit Plan.
f.Investment in UTIs Unit Linked
Insurance Plan
g. Approved Mutual Fund Investment
h. Repayment of Housing Loan Principal
towards Self-occupied Residential
Property
i. Payment of Tuition fees towards any
two children of the assessee
j. Investment in Equity Linked Savings
Scheme / approved Infrastructure Bonds
k. Investment in Pension Fund / Deposit
Scheme of National Housing Bank Under
Home Loan Account Scheme
l. Fixed Deposit of any Scheduled
Bank /Housing Finance Co. for not less
than 5 years
m. Investment in Equity Shares
Debentures of approved Public Finance
Instn. or Company
2 80 Premium paid towards IRDA approved Up to Rs.1, 00,000
CCC Pension Fund (sum of claim under
80 C and 80 CCC
shall not exceed Rs.
1,00,000)
3. 80CCD Amount paid/deposited in an approved Up to10% of Salary
Pension Scheme of Central Government
& matching contribution made by the Up to 10% of Salary
Employer to the Pension A/c of
individual.
4. 80 CCE Aggregate of deduction u/s 80C, 80CCC —-
& 80CCD shall not exceed Rs.1 lakh.
5 80 D a. Medical Insurance Premium paid by Up to Rs. 15,000
any mode other than cash.
b. For Senior Citizens Up to Rs. 20,000
6 80DD a. Any expenditure for Medical, Nursing Upto Rs.50, 000 if
& Rehabilitation incurred on dependent disability is over
relative suffering from permanent 40% & Rs.75, 000 if
Physical Disability, Autism, Cerebral disability is over
Palsy and Multiple disability 80%
 b. Deposits under LIC, UTI’s Scheme &
other IRDA approved Insurers for the
benefit of Physically Handicapped
dependent
7 80 a. Actual expenditure incurred on medical Upto Rs.40, 000
DDB treatment of self, or dependent relative
suffering from terminal diseases like Upto Rs.60, 000
Cancer, AIDS, Renal failure etc.

b. For Senior Citizens.

8 80E Interest on repayment of Loan taken from Any amount of
charitable / financial institution for Self, interest
Spouse, Children Higher Education for a
maximum of 8 years
9 80G a. Donation paid to P.M.Relief fund, 100% of donation
National Defence Fund, Funds of
Universities or Educational Institution of 50% of Donation. In
National Fame, National Trust for some cases,
welfare of persons with Autism, Cerebral donation is
Palsy, Mental retardation and multiple restricted to 10% of
disabilities total income

b. Donations to National Children fund,

Jawaharlal Lal Nehru memorial fund,
P.Ms Drought Relief Fund, Any
Charitable / Religious Institutions,
Corporation established for promoting
interest of the members of a minor
community.
10 80GG Deduction in respect of rents paid 25% of incomeor
provided no house is owned by self, rent paid in excess
spouse or minor child in the place of of 10% of income or
work and is residing in any of the ceiling of 24,000 p.a
specified cities whichever is less
11 80U Persons suffering from permanent Rs.50, 000 if
physical Disability and includes Autism, disability is over
Cerebral Palsy, Multiple Disability, 40% and Rs.75, 000
Person with Disability and Severe if disability is over
Disability 80%.

Related Posts
• GConnect Income tax calculator for the year 2008-09
 • Income/Loss from House Property
• IT Exemption for HRA - Should we take DA ?
• Income Tax Relief for 6CPC Arrears under Section 89(1)
• Tax Benefits of Health Insurance

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39 Responses to “Income tax 2008-09 (assessment year 2009-10)”

1.

sheeja said on Tuesday, October 7, 2008, 14:06

I want to know the income tax of assessment year 2009-10 of a woman. Details of
income given below. Pls replay soon
salary income Rs. 35,000/- p.m
LIC 1 Rs. 36,000/- p.a
LIC 2 Rs. 12000/- p.a
House Loan EMI Rs. 13,000 p.m

Rgds

Sheeja

2.

sheeja said on Tuesday, October 7, 2008, 15:13

I want to know the net taxable income, and also the net tax payable for the assessment
year 2009-2010

3.

sheeja said on Tuesday, October 7, 2008, 15:22

I want to know house loan EMI is included in chapter VI ( Sec 80 C)Rs. 1lakh

4.

sheeja said on Tuesday, October 7, 2008, 15:25

 Pls send mail to me

expect reply soon

Sheeja

5.

MR. SUMAN GHOSH said on Sunday, October 12, 2008, 15:23

1. whether arrears received under 6th CPC will be entirely taxable in this ass.yr.
2. what is the max. amount that can be saved ?

6.

k v kumar said on Wednesday, October 15, 2008, 19:02

it is tremendously made and very is to understand. on sigle glance i could able to solve
the mess in my mind.

7.

nitin said on Thursday, October 23, 2008, 18:40

Is 10% of (basic payt + grade pay) contribution from government for NPS will be
included in the monthly salary of new recruits after 1 jan 2004 ?,
from TDS 2008-2009 rules salary definition on page 15,it seems that government 10%
contribution will not be included in salary from this financial year. Can somebody help
me on this issue?. Previously government 10% contribution is added to the salary(refer
TDS rules 2007-2008).

8.

raj said on Friday, October 24, 2008, 17:08

please let us all know that is arrears taxable? If yes, separately or otherwise?

9.

T.K.Dhali said on Saturday, October 25, 2008, 19:35

 I am a central govt.servant, I have reimbursement Rs.1,38,000 for medical treatment
(Cancer)of my father (dependent member) during 2008-09. In this context Please let me
know is reimbursement of expenses on medical treatment is a taxable income.

10.

T.K.Dhali said on Saturday, October 25, 2008, 19:41

Please let me know is reimbursement of expenses on medical treatment is a taxable

income?

11.

A R RAO said on Monday, October 27, 2008, 0:55

1.please let me know whether Eminity charges paid by tenent are

taxable ? 2.under 80c - item ‘g’ approved mutual fund investment Max Rs 1 lac

please clarify more detail about type of mutual fund ?and for how many years lockedup?

12.

Dattatraya R.Ket said on Monday, November 3, 2008, 17:57

Pl.give me information for deduction against higher studies of daughter/son,like

Engineering, Medical year2008-2009(assesment year2009-2010

13.

Pradyot Basu said on Wednesday, November 5, 2008, 18:26

I have some previously Invested NSC, some of them are invested 1 and 2 year back. Will
I get deduction under 80CC for Accrued interest of nearly Rs.14900 for those NSC for
AY 2009-2010? So I could invest only Rs. 85100 to get the benifit of Rs. 100000 under
80CC.

14.

Satish Ghodke said on Wednesday, November 5, 2008, 23:45

please reply - Where the Interest paid on house loan be taken in to account while
computing income tax ?
15.

Dabas said on Thursday, November 6, 2008, 11:00

Is benefit of U/S 80-C shall be exetended to the employee where the total salary income
exceeds Rs 10,00,000.

16.

MANOJ ARORA said on Tuesday, November 11, 2008, 10:20

PLEASE LET ME KNOW WHETHER INCOME TAX EXEMPTIONS ARE

AVAILABLE DURING CONSTRUCTION PERIOD OF FLAT .THE PAYMENT IS
MADE IN CONSTRUCTION LINKED .I HAVE TAKEN A HOUSE LOAN FROM A
BANK .TO BOOST HOUSING MORE INCENTIVE SHOULD BE GIVEN.

17.

Sheuli Das said on Friday, November 28, 2008, 14:02

PLEASE CONFIRMED ME THAT ALL THE MUTUAL FUND INVESTMENT IN

THE FINANACIAL PERIOD 2008-2009 IS DEDUCTABLE IN 80C OR ONLY TAX
SAVER MUTUAL FUNDS ARE ACCEPTABLE. 2ND THING THAT I WAS INVEST
IN ‘RELIANCE EQUITY FUND GROWTH PLAN’ CAN I REBATE CLAIM FOR
80C IN ASSESSMENT YEAR 2009-2010, PLZ CONFIRMED ME AS EARLY AS
POSSIBLE.

18.

sai krishna said on Monday, December 8, 2008, 14:58

Please let me know what is the treatment for personal pay. It is exempted OR Fully
taxable OR partly taxable

19.

umesh kumar singh said on Tuesday, December 30, 2008, 6:38

Pl let me know how the computation of the pay for deduction of rent paid vis-a-vis HRA
received in terms of section 10 of IT Act is to be computed?
That is, is the band pay to be added to the grade pay when computing 40% of the pay?
20.

lamba said on Thursday, January 1, 2009, 15:06

Sir,
Please tell us how calculate income tax on arrear of 6 PC (40%)

21.

chithra said on Tuesday, January 6, 2009, 12:42

Whether tuition fees paid on college education of children can be claimed for income tax
deduction under Section 80 C

22.

Amol said on Thursday, January 8, 2009, 20:30

this site is very exellent.

any common man can know about his i.tax by using this site.
can u send this page on my email asshimpi@rediffmail.com thank you.
Amol

23.

Kultar Singh said on Thursday, January 29, 2009, 16:15

Income tax relief available under section 89(1) of income tax for arrear received for
earliar year in 2008-09 due to implementation of 6th pay commission.

24.

skm said on Thursday, February 12, 2009, 11:09

Can any one clarify Transport Allowance(TA) Rs. 3200 is taxable or not?? in Our Office
they are giving Tax rebate only on Rs 800 of TA, remaing(3200-800=2400) is taxable
income. Is there in clear clarification from govt side regarding the TA of amout os Rs
3200. People are just following swami’s book as guide lines. What is the govt View. the
reaming is taxable then its definitely not good thing, its like giving in one hand and
taking from other hand.
25.

N.Selvaraj said on Friday, February 13, 2009, 18:44

Suppose an individual submits two HOME LOAN certificates with interest and principal
components remited during a financial year for two different house properties/same
house property and claims the concession for total interest and pricipal under the relavent
heads. I want to know whether his claim is correct or not. I said he is eligible for only the
first home loan concession regarding IT Rules and not the second one.Let me know the
correct one.

26.

Arun said on Thursday, February 26, 2009, 19:29

Can you please send me the details of income tax and indirsect tax ( excise ) for the
assessment year 2009-10 on my email address

27.

ghosh.s said on Friday, February 27, 2009, 19:14

Pl.give me information for deduction of feesagainst higher studies of daughter/son,like

/school/Engineering, Medical year2008-2009(assesment year2009-2010.

28.

ghosh.s said on Friday, February 27, 2009, 19:18

Can any one clarify Transport Allowance(TA) is taxable or not?? .if not any limit given

29.

K.Sridhar Rao said on Monday, April 6, 2009, 15:31

I want to know tax implications in annuity policies in india

30.

Mohan said on Wednesday, April 8, 2009, 12:06

 Hello ,
please calculate my income tax for the financial year 2009 -2010….

My annual income is Rs. 290,000. PA.

1.I have Housing loan Rs . 6000/- PM ( 72000) PA. rate of interest is 7.25%PA.
diminishing.

Medical insurance of Rs. 6680/- PA.

Is this enough or need any more saving …

Waiting fro your reply thank you ….

Mohan

31.

K Sainath said on Wednesday, April 8, 2009, 12:20

sir is there any rules to taxcunsultancies to do the income tax work

32.

Srinath M S NAL said on Thursday, April 16, 2009, 10:10

What is the minimum taxable income to file return to ACIT 13(1)(autonomous bodies) in
Bangalore for asst. yr 2009-10 - srinath

33.

D BALASUBRAMANIAN said on Sunday, May 17, 2009, 21:01

sir, my
son is studying master’s degree in australia in multimedia and graphic design in monash
university, melbourne. i took education loan jointly and i am repaying interest for the
loan. pl. inform me whether iam eligible for exemption under section 80E for the
interest? if so how to compute in income tax. ie whether ful exemption shall i get?

34.

SRINIVAS M V said on Wednesday, May 20, 2009, 11:59

Please send the Income Tax Form for the assessment Year 2009-10
35.

Satish Ambhore said on Sunday, May 24, 2009, 18:42

Sir, My father is retired from amravati muncipal corporation and his pension is Rs- 7500.
I am scientific officer in indian railways .I want to know wheather he can avail all
facilities like dependent parents.

Kindly comments .

36.

devenprachchhak said on Saturday, June 20, 2009, 15:12

I have been paid Rs.22176 towards HRA for the financial year 2008-09. My question is ,
should this amount calculated as per method of IT Expemtion for HRA or should i get
maximu rs.24000 exemption under section 80GG?

37.

Medha said on Thursday, June 25, 2009, 11:05

I want to know about assessment year 2009-10

38.

tej gyan foundation said on Friday, June 26, 2009, 19:15

A trust is paying me a vehicle installment per month, is it to be considered in filling

individual income tax return for A.Y 2009-2010 i.e income part just like salary, hra,
bonus etc.

39.

Suresh said on Saturday, July 11, 2009, 15:29

I have earned an interest on fixed deposits in the Bank for which TDS has already been
deducted by the Bank @ 10%. I am paying tax in the 30% category from my salary. My
question is whether I have to pay the remaining tax(20%) on interest in addition to the
10% deducted by the Bank
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