GConnect is now available on Google Play Store. Download now!!
Browsing Category

Income Tax

Income tax 2008-09 (assessment year 2009-10)

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…

Income/Loss from House Property

One of my senior friends, who constructed a house ten years ago after borrowing House Building Advance asked me last week, whether interest accrued in respect of Housing loan during the year 2008-09,…

IT Exemption for HRA – Should we take DA ?

The exemption from tax with regard to HRA is restricted to the least of the following amounts:- (i) Actual amount of H.R.A. (ii) The amount by which actual rent paid by the employee exceeds 10%…

6CPC Pay and Arrears – Income Tax Estimation

The lack of clarity over taxation of arrears that government employees will receive following the implementation of the 6th Pay Commission recommendations has finally cleared. The tax on first…