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    Computation Sheet 2022-11

    Uploaded by

    Harsha Kumar
    This document contains an income tax computation for an employee named Meruga Harsha for the financial year 2022-2023. It shows his total taxable income as Rs. 143714 after accounting for exemptions under various sections such as HRA exemption, 80C deductions for PF contributions, standard deduction, and professional tax paid. The total tax payable is calculated as Rs. 0 since the taxable income is below the minimum taxable threshold. The document also lists the employee's monthly salary breakdown and taxes deducted each month.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Computation Sheet 2022-11

    Uploaded by

    Harsha Kumar
    21 views4 pages
    This document contains an income tax computation for an employee named Meruga Harsha for the financial year 2022-2023. It shows his total taxable income as Rs. 143714 after accounting for exemptions under various sections such as HRA exemption, 80C deductions for PF contributions, standard deduction, and professional tax paid. The total tax payable is calculated as Rs. 0 since the taxable income is below the minimum taxable threshold. The document also lists the employee's monthly salary breakdown and taxes deducted each month.

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    This document contains an income tax computation for an employee named Meruga Harsha for the financial year 2022-2023. It shows his total taxable income as Rs. 143714 after accounting for exemptions under various sections such as HRA exemption, 80C deductions for PF contributions, standard deduction, and professional tax paid. The total tax payable is calculated as Rs. 0 since the taxable income is below the minimum taxable threshold. The document also lists the employee's monthly salary breakdown and taxes deducted each month.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    21 views4 pages

    Computation Sheet 2022-11

    Uploaded by

    Harsha Kumar
    This document contains an income tax computation for an employee named Meruga Harsha for the financial year 2022-2023. It shows his total taxable income as Rs. 143714 after accounting for exemptions under various sections such as HRA exemption, 80C deductions for PF contributions, standard deduction, and professional tax paid. The total tax payable is calculated as Rs. 0 since the taxable income is below the minimum taxable threshold. The document also lists the employee's monthly salary breakdown and taxes deducted each month.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    Aasaanjobs Private Limited (Now known as BetterPlace Select)

    Head Office: B-wing, Unit-4, Krislon House, Military Road, Opposite Marwah
    Center, Saki Naka, Andheri, Mumbai, Maharashtra - 400072

    INCOME TAX COMPUTATION FOR THE FINANCIAL YEAR 2022 - 2023

    Employee Name: MERUGA HARSHA Employee Code: VBS15836 Date of Joining: 20-12-2021 Gender: Male

    Working for: Vaco Binary Semantics Work Location: Hyderabad PAN: DKUPM1455A Date of Leaving: 02-12-2022

    Tax Regime: Not Provided Date of Birth: 12-06-1996 Payroll Month: November Residential Location: Uppal

    Total Apr'22 May'22 Jun'22 Jul'22 Aug'22 Sep'22 Oct'22 Nov'22 Dec'22 Jan'23 Feb'23 Mar'23

    A) Taxable Income

    Basic + DA 144000 12000 12000 12000 12000 12000 12000 12000 12000 12000 12000 12000 12000

    HRA 45924 3827 3827 3827 3827 3827 3827 3827 3827 3827 3827 3827 3827

    Statutory Bonus 12000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000

    Incentives 10870 970 1280 970 970 970 970 970 3770 0 0 0 0

    Total 212794 17797 18107 17797 17797 17797 17797 17797 20597 16827 16827 16827 16827

    B) Deductions

    PF 17280 1440 1440 1440 1440 1440 1440 1440 1440 1440 1440 1440 1440

    VPF 0 0 0 0 0 0 0 0 0 0 0 0 0

    Professional Tax 1800 150 150 150 150 150 150 150 150 150 150 150 150

    TDS 0 0 0 0 0 0 0 0 0 0 0 0 0
    Total 19080 1590 1590 1590 1590 1590 1590 1590 1590 1590 1590 1590 1590

    C) Recoveries

    Exgratia Recovery 0 0 0 0 0 0 0 0 0 0 0 0 0

    Other Recovery 0 0 0 0 0 0 0 0 0 0 0 0 0

    Excess Salary
    0 0 0 0 0 0 0 0 0 0 0 0 0
    Amount

    Total 0 0 0 0 0 0 0 0 0 0 0 0 0

    C.i) Perquisites 0

    D) Total income before exemptions(A-C+C.i) 212794

    Note: Least value of 1,2,3 is considered for


    E) HRA Exemption (Section 10) 0
    exemption

    1) Actual HRA received 45924

    2) 40% of Basic (non metro city) 57600

    3) Annual rent paid - 10% of basic 0

    F) Deductions under section 80C Note: Maximum limit of 80C deduction is


    17280
    (sum of below components) 1,50,000

    Employee PF 17280

    VPF 0

    G) Deductions under other section 80


    0
    (sum of below components)
    80D (Medical Insurance) 0

    H) Interest on Home loan 0

    Note: Least value of 1 and 2 is the considered LTA


    I) Leave Travel Allowance 0
    exmeption

    1) LTA declared by employee 0

    2) LTA provided by employer 0

    J) Deduction under Section 16


    51800
    (sum of below components)

    Standard Exemption: Sec 16(iii) 50000

    Professional Tax: Sec 16(ia) 1800

    K) Income after exemptions (D-E-F-G-H-I-J) 143714

    L) Previous Employer Income (Total Income -


    0
    PF - PT)

    Total Income 0
    PF 0

    PT 0

    M) Net Taxable Income (K+L) 143714

    N) Calculated Income Tax 0

    O) Rebate under 87A 0

    P) Total tax to be paid (Income Tax + Cess +


    0
    Surcharge)
    Income Tax (N-O) 0

    Health & Education Cess (4%) 0

    Surcharge 0

    Q) Tax paid till date


    0
    (sum of below components)

    Deduction through BetterPlace Select payroll 0

    Deduction by previous employer 0

    R) Relief under section 89 0

    Note: if balance tax is in negative, then it is an excess tax deducted which is to be claimed through form
    S) Balance Annual Tax to be recovered (P-Q-R) 0
    16

    T) Remaining Number of Months 4

    U) Monthly tax to be deducted througout


    0
    remaining months (S/T)

    This is a computer generated PDF, hence doesn't require any signature.

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