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    Noveltech Feeds Private Limited: Earnings Deductions

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    Prakash Lamani
    Prakash G Lamani, Manager at Noveltech Feeds Private Limited, received a pay slip for November 2022. His earnings that month included a basic salary of INR 54,479, HRA of INR 27,240, and special and children education allowances totaling INR 22,819. Total deductions were INR 6,700, including INR 4,700 for income tax. His net pay for November was INR 97,838. An annual income tax worksheet provided additional details on tax exemptions and deductions for the 2022-2023 financial year.

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    Noveltech Feeds Private Limited: Earnings Deductions

    Uploaded by

    Prakash Lamani
    214 views1 page
    Prakash G Lamani, Manager at Noveltech Feeds Private Limited, received a pay slip for November 2022. His earnings that month included a basic salary of INR 54,479, HRA of INR 27,240, and special and children education allowances totaling INR 22,819. Total deductions were INR 6,700, including INR 4,700 for income tax. His net pay for November was INR 97,838. An annual income tax worksheet provided additional details on tax exemptions and deductions for the 2022-2023 financial year.

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    Prakash G Lamani, Manager at Noveltech Feeds Private Limited, received a pay slip for November 2022. His earnings that month included a basic salary of INR 54,479, HRA of INR 27,240, and special and children education allowances totaling INR 22,819. Total deductions were INR 6,700, including INR 4,700 for income tax. His net pay for November was INR 97,838. An annual income tax worksheet provided additional details on tax exemptions and deductions for the 2022-2023 financial year.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    214 views1 page

    Noveltech Feeds Private Limited: Earnings Deductions

    Uploaded by

    Prakash Lamani
    Prakash G Lamani, Manager at Noveltech Feeds Private Limited, received a pay slip for November 2022. His earnings that month included a basic salary of INR 54,479, HRA of INR 27,240, and special and children education allowances totaling INR 22,819. Total deductions were INR 6,700, including INR 4,700 for income tax. His net pay for November was INR 97,838. An annual income tax worksheet provided additional details on tax exemptions and deductions for the 2022-2023 financial year.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    NOVELTECH FEEDS PRIVATE LIMITED

    Plot No 59, Image Hospital Lane, Gafoornagar, Madhapur, Near


    Hitech City, HYDERABAD - 500081
    TELANGANA
    Pay Slip for the month of November 2022
    All amounts are in INR

    Emp Code : 10000757 A r r e a r D a y ( s ): 0 . 0 0 City District : Hyderabad


    Emp Name : Prakash G Lamani IFSC Code : HDFC0000076
    Department : Finance & Accounts Bank A/c No. : 00761050407955 (HDFC BANK LTD)
    Designation : Manager Entity Name : Neo Genetics Foods Pvt Ltd
    Grade : E PAN : AFPPL6681J
    Gender : M PF No. :
    DOB : 01 Jun 1983 PF UAN. : 100275752564
    DOJ : 09 Aug 2018 ESI No. :
    Payable Days: 30.00 L o c a t i o n T y p e: Noveltech Leased Office
    LWP : 0.00
    Earnings Deductions
    Description Rate Monthly Arrear Total Description Amount
    BASIC 54479.00 54479.00 0.00 54479.00 INCOME TAX 4700.00
    HRA 27240.00 27240.00 0.00 27240.00 PF 1800.00
    Special Allowance 14286.00 14286.00 0.00 14286.00 PROF. TAX 200.00
    Children Edu Allow 200.00 200.00 0.00 200.00
    Additional Special Allowance 8333.00 8333.00 0.00 8333.00
    GROSS EARNINGS 104538.00 104538.00 0.00 104538.00 GROSS DEDUCTIONS 6700.00
    Net Pay : 97838.00 (NINETY SEVEN THOUSAND EIGHT HUNDRED THIRTY EIGHT ONLY)

    Income Tax Worksheet for the Period April 2022 - March 2023
    *You have opted for Old Tax Regime

    Description Gross Exempt Taxable Deduction Under Chapter VI-A Taxable HRA Calculation( N o n - M e t r o )
    BASIC 542811.00 0.00 542811.00 I n v e s t m e n t s u / s 8 0 C Rent Paid 300000.00
    HRA 271410.00 196968.00 74442.00 Provident Fund 21600.00 From: 01/04/2022
    Special Allowance 304398.00 0.00 304398.00 Tuition Fee 60000.00 To: 31/03/2023
    Children Edu Allow 1800.00 0.00 1800.00 NSC(National Saving Certificate) 24000.00 1. Actual HRA 271410.00
    Variable Pay 73500.00 0.00 73500.00 LIC DIRECT 66000.00 2. 40% or 50% of Basic 217128.00
    Other Earning 26250.00 0.00 26250.00 3. Rent - 10% Basic 245718.00
    Additional Special Allowance 74997.00 0.00 74997.00 Least of above is exempt 196968.00
    Taxable HRA 74442.00

    Gross 1295166.00 196968.00 1098198.00 Total Investments u/s 80C 171600.00 T D S D e d u c t e d M o n t h l y


    Tax Working 80D 25000.00 M o n t h Amount
    Standard Deduction 50000.00 U/S 80C 150000.00 April-2022 5210.00
    Previous Employer Taxable Income 0.00 T o t a l D e d U n d e r C h a p t e r V I - A 175000.00 May-2022 5210.00
    Previous Employer Professional Tax 0 June-2022 5210.00
    Professional Tax 2400 July-2022 23288.00
    Under Chapter VI-A 175000.00 August-2022 8000.00
    Any Other Income 0.00 September-2022 8000.00
    Taxable Income 870800.00 October-2022 8000.00
    Total Tax 86660.00 November-2022 4700.00
    Tax Rebate u/s 87a 0.00 Tax Deducted on Perq. 0.00
    Surcharge 0.00 Total 67618.00
    Tax Due 0.00
    Health and Education Cess 3466.00
    Net Tax 90126.00
    Tax Deducted (Previous Employer) 0.00
    Tax Deducted on Perq. 0.00
    Tax Deducted on Any Other Income. 0.00
    Tax Deducted Till Date 67618.00
    Tax to be Deducted 22508.00
    Tax per month 4700.00
    Tax on Non-Recurring Earnings 0.00 Total Any Other Income
    Tax Deduction for this month 4700.00

    Disclaimer: This is a system generated payslip, does not require any signature.

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