Comment posted on India Budget 2011 by Pankaj Batra
@Mukund
Read an answer to similar question here: http://www.socialfinance.in/questions/132/per-diem-taxation
Pankaj Batra also commented
- @Shash
If income is only from salaries and bank interest (less than 10,000) and total income is less than 5 lakh, then there is no need to file income tax return.
For income tax computation, download and use income tax calculator (http://www.pankajbatra.com/india/income-tax-calculator-india-2010-2011-2012/) - @Sandeep
Let me know your questions, i.e. which calculation you want to see. - @Krishnaraj
I will add separate row for same soon.
For now you can use Row 98 for the same. - @Ajay
In addition to previous comment, In case a salary earner has income from other sources like dividend, interest etc. and does not want to file returns, he will have to disclose such income to his employer for tax deduction. - @Ajay
in case on interest earnings, income tax return will have to be filed as there will be income other than salary also.
Recent comments by Pankaj Batra
- New Pension System(NPS)
@Vipul
No, amount won’t be refunded after leaving job. - Income tax calculator for 2013-14 and Budget 2013 update
@Srinivas
Yes, you would need to submit medical bills to your employer for making this amount non-taxable. - Emigration clearance not required (ECNR)
@Arun
A new passport would be issued in case of ECR removal. It would have new passport number and validity. - Pay Your Electricity Bills Online In Haryana
@Vipin
They only have email address mentioned as [email protected] - Income tax calculator for 2013-14 and Budget 2013 update
@Ram
Basic exemption is Rs 2 lakhs only. For income below Rs 5 lakh, there is a credit of Rs 2000 available, so net tax is reduced by Rs 2,000.
what about retired pensioners, with an income of around 5 lakhs; which includes pension and interest earnings.
Kindly confirm they will be required to submit i.T. return.
@Ajay
in case on interest earnings, income tax return will have to be filed as there will be income other than salary also.
@Ajay
In addition to previous comment, In case a salary earner has income from other sources like dividend, interest etc. and does not want to file returns, he will have to disclose such income to his employer for tax deduction.
in case on interest earnings, income tax return will have to be filed as there will be income other than salary also. or in case of a salary earner has income form other sources like dividend , interest etc.
Hi,
The income tax calculator sheet for 2011-2012 does not include VPF (Voluntarily Provident Fund) contribution. Could you please update it.
Thanks and regards,
Krishnaraj
@Krishnaraj
I will add separate row for same soon.
For now you can use Row 98 for the same.
I HAVE DOWNLOADED INCOME TAX CALCULATOR FY2010-11 FORM YOUR SITE IT IS AMAZING BUT I UNABLE TO SEE THE CALCULATION OR BIG FIGURE SO PLS PROVIDE ME THE SHEET PASSWORD REQUESTING YOU SIR
Regards
Sandeep
@Sandeep
Let me know your questions, i.e. which calculation you want to see.
Hi Pankaj
I had a question regarding Per Diems. I get a per diem from my company during my stay in US apart from my salary. This is not as per actuals but a fixed amount. When paying my salary and deducting TDS, will this per diem be taken into account
@Mukund
Read an answer to similar question here: http://www.socialfinance.in/questions/132/per-diem-taxation
nil incom tax on salary f.y.2010-2011
is IT RETURN IS REQUIRED FOR THE PERSON WHOSE ANNUAL INCOME IS 5LAKHS.
@Shash
If income is only from salaries and bank interest (less than 10,000) and total income is less than 5 lakh, then there is no need to file income tax return.
For income tax computation, download and use income tax calculator (http://www.pankajbatra.com/india/income-tax-calculator-india-2010-2011-2012/)
MINE SALARY IS 3 LAKHS SO MUCH SHOULD I PAY AS A TAX