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    Heads of Income Monthly Actual YTD Projected Total

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    Ajinkya Bagade

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    © All Rights Reserved
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    Heads of Income Monthly Actual YTD Projected Total

    Uploaded by

    Ajinkya Bagade
    57 views2 pages

    Original Title

    Tax-Jan22

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    57 views2 pages

    Heads of Income Monthly Actual YTD Projected Total

    Uploaded by

    Ajinkya Bagade

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Principal Global Services Private Ltd

    Income Tax Computation Statement


    Tax Method - Old Regime
    Employee Code : 40001320 PAN Number : ASQPB9189D
    Employee Name : Ajinkya Hemant Bagade Employee ID : 40033175
    Gender : Male Date of Joining : 24.02.2020
    Assessment Year : 2022-23 For Month : JAN,2022

    Heads of Income Monthly Actual YTD Projected Total


    (A) (B) (C) (B+C)
    Income from Salary
    Regular Income
    House Rent Allowance 28,449.01 271,846.00 56,898.02 328,744.02
    Basic Salary 71,122.52 679,615.04 142,245.04 821,860.08
    Special Allowance 24,521.17 233,513.20 49,042.34 282,555.54
    1,433,159.64
    Irregular Income
    Overtime 54,990.99 54,990.99
    Home Connect Allowance 1,300.00 13,000.00 13,000.00
    Office setup allowance 20,000.00 20,000.00
    Wellbeing Reimbursement 761.00 761.00

    .
    88,751.99
    Gross Salary 1,521,911.63

    Less Exemptions U/s 10


    A. Actual HRA 328,744.02
    B. 40% OR 50% of Basic 328,744.03
    C. Rent paid - 10% Basic 270,613.99
    .
    HRA Exemption(Least of A, B, C) 270,613.99

    Net Salary 1,251,298.00


    Std Deduction 50,000.00
    Empmnt tax (Prof Tax) 2,400.00
    .
    Aggrg Deduction 52,400.00

    Net Taxable Salary 1,198,898.00

    .
    Add/Less Inc from oth sources
    Gross Total Income 1,198,898.00
    .
    Less Deds under Chapter VI A 575,000.00

    Total Taxable Income 623,900.00

    Tax on Total Income 37,280.00


    .

    Tax Payable 37,280.00


    Health and Education Cess (4%) 1,491.20
    Total Tax Payable 38,772.00

    Tax Deducted so Far (Incl.curr.month) 34,435.00


    .

    Balance Tax 4,337.00


    .

    Tax Deducted in this Month 7,863.00


    .
    Employee Code: 40001320 Tax Method - Old Regime PAN Number: ASQPB9189D
    From Slab To Slab Amount to be taxed Tax Rate (%) Taxed Amount
    0.00 250,000.00 250,000.00 0.00 0.00
    250,000.00 500,000.00 250,000.00 5.00 12,500.00
    500,000.00 623,900.00 123,900.00 20.00 24,780.00

    HRA CLA
    From Date To Date Rent/Month Metro From Date To Date Rent/Month Metro
    01.04.2021 31.03.2022 29,400.00 No

    Exemptions U/s 10 Amount


    HRA Annual Exemption 270,613.99
    Total 270,613.99

    Deductions under Chapter VIA


    Section Code Section Description Contribution Deductible
    Amount Amount
    80C Contribution to notified annuity plan of LIC 3,046.00
    80C Subscription to notified mutual fund 120,000.00
    80C PF 21,600.00
    80CCC Contribution to Certain Pension Funds 150,000.00
    Total deduction U/S 80C, 80CCC, 80CCD(1) 150000
    80CCD(1B) Contribution to NPS 80CCD (1B) 50,000.00 50,000.00
    80D Medical Insr Premium (Non-Senior Ctz) 36,378.00 25,000.00
    80D Medical Insr Premium(Payment on behalf of parents non-senior Ctz) 25,000.00 25,000.00
    80D Medical Insr Premium(Payment on behalf of parents senior citizen) 50,000.00 25,000.00
    80D Preventive Health Check up (Self) 5,000.00
    80D Preventive Health Check up (Parents) 5,000.00
    80D Medical Expenditure for Senior Citizen (Parents) 50,000.00
    80DDB Medical Treatment 40,000.00 40,000.00
    80DDB Medical Treatment for Senior Citizen 100,000.00 60,000.00
    80EEB Electric Vehicle interest deduction U/S 80EEB 150,000.00 150,000.00
    80TTB Interest on deposits for senior citizens (Sec 80TTB) 50,000.00 50,000.00
    Aggr.Deductions under Chapter VI A 575,000.00
    Notes:
    1. Aggregate amount deductible under Section 80 C shall not exceed 150,000.00 Rupees.
    2. Aggregate amount deductible under three sections i.e 80C, 80 CCC and 80 CCD(1B) shall not exceed 2,00,000.00 Rupees.

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