UPDATE – 6th July 2009
Income Tax Calculator for Financial Year 2009-10 as per proposals put forth in the Union Budget 2009-10 can be accessed at : Budget 2009-10 – Calculate your Income Tax Impact.
Calculating personal income tax is an enigma for most salaried persons. Even Albert Einstein admitted, “The hardest thing in the world to understand is the income tax.”
Not any more, enclosed find a simple excel based calculator which you can download and use to calculate your personal income tax liability. This calculator is based on the Indian Income Tax rules applicable for Financial Year 2008-09 or Assessment Year 2009-10.
Although, care has been taken to validate the logic of the calculator by testing it with various scenarios, however, “To err is human, to comment and get the error rectified is divine“.
So, please comment in case you find any error in the calculator so that it can be correct, also if you like the calculator or have suggestions please feel free to comment. This will encourage us to make and share with you many more useful personal finance tools and calculators on PersonalMoney.in
Click on the link to download calculator : personalmoneyin-tax-calculator-fy-2008-09
- Please download the XLS Calculator
- After downloading, open the XLS file
- Enter gross annual figures in respective cells only.
- Please enter values in Yellow colored cells only.
DISCLAIMER : This calculator is to help you find out your personal indecative total tax liability. It may not cover all scenarios of Income, Exemptions, Deductions, etc. You are advised to consult any qualified chartered accountant or tax consultant to know your actual Tax Liability.