File Your ITR Online To Claim Tax Refunds

You can file your return of income for claiming refund of taxes even if your income does not exceed the exemption limit due to TDS. Your employer, Banks & financial institutions deduct TDS sometimes more than your tax liability which you can easily claim by filing your Income tax return. This return for claiming the refund of excess taxes paid can be filed within a period of two years from the end of the financial year for which the claim of refund is related.

Filing of tax return these days have become very easy and in many cases even free through several e-filing portals such as H&R Block which also provides assistance in case you are stuck somewhere. All you need to do is to check your tax liability using an Income tax calculator and if you have paid more than what you are liable to pay then file your return online to claim the refund of excess tax paid. 

Income Tax Calculator Excel (FY 2013 - 2014)

With financial year ending on 31st March 2013, if you have been thinking of how much is your income tax liability for the current financial year then here is a calculator in excel format to help you with that. It's an extremely easy to use calculator and helps you not only in assessing your income tax liability for the current financial year 2013-14 but also let's you tweak numbers under different head and plan investments accordingly. 

The income tax slabs were revised in budget 2012 and the limits were raised marginally. However there will be more savings for people earning more than 8 lakh per annum.The revised slab for the current assessment year i.e AY 2013 - 2014 is:

Income Tax Calculator 2012 - 2013

The personal Income tax slabs have been revised in budget 2012. Though the limits have been raised marginally, there will be more savings for people earning more than 8 lakh per annum.

• The basic Income tax exemption limit raised to Rs 2 lakh from Rs 1.8 lakh.
• Rs 2 lakh - 5 lakh taxed at 10%.
• Rs 5 Lakh - 10 lakh at 20%. Previous year band was 5 lakh  - 8 Lakh.
• Above Rs 10 lakh taxed at 30%.