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ITR 1(Sahaj)

Illustration 4: From the following compute total income and tax payable of Your Self:
Name Yourself
Pan Yourself
Aadhar No. Yourself
Address Yourself
Date of birth Yourself
Nature of Employment Others (Private)
Opting for New Tax Regime U/s 115BAC No
Seventh Proviso to Sec. 139(1) Applicable No
Email id Yourself
Mobile No. Yourself
Return filed u/s 139(1): Original return
Tan of employer CALG10640A
Name of The Employer Gyanarjan Education Private Limited
Father’s name Yourself
Residential status Resident & Ordinarily Resident
Occupation details 19/1/A, Mohan Lal Bahalwala Road,
Near SBI ATM, Near Belur Station (East),
Bally, Howrah- 711 201.
Pan of employer AAHCG8261H
Bank account details:
Name of bank State Bank of India
Branch Bally Branch
Account no 308145692541
Account type Savings Account
IFSC code SBIN0008596
Date of filling return 20/06/2024
Place of filling return of income Howrah

Particulars Amount
Basic Salary per month 50,000
HRA per month 10,000
Rent Paid per month 8,000
Professional tax 2,500
Rent from a let out house per month 6,000
Municipal tax per quarter 300
Interest on Housing loan 10,000
Bank interest received from savings account 1,08,000
L.I.C premium 49,650
Deposit in P.P.F 27,000
Paid for Mediclaim 30,000
Donation made u/s 80G (Ramkrishna Mission) 20,000
TDS deducted by employer 45,000
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Agricultural Income 4,000

Balance Self Assessment Tax paid on 30 June alongwith interest u/s 234B & 234C.
th

You are requested to prepare and file his return of income for the assessment year 2024-25 using the
appropriate ITR from.
Fill up the appropriate Excel ITR Form then export it to PDF format with your CU Roll No.
Ans.: Salary Income Rs. 6,31,500; House Property Rs. 39,560; GTI Rs. 7,79,060; Deduction Rs.
1,21,650; Total Income Rs. 6,57,410; Total Tax Rs. 45,741; Total Self Assessment Tax Rs. 741.
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Name : Your Name Previous Year : 2023 - 24

Status : Resident Individual Assessment Year : 2024 - 25

Computation of Total Income

Particulars Detail Detail Detail Amount
Income from Salary
Basic Salary (Rs. 50,000 * 12 month) 6,00,000

House Rent Allowance (10,000 * 12 month) 1,20,000

Less: Exempt u/s 10(13A) with Rule 2A - Lower
Actual HRA 1,20,000
50% of Salary i.e. Rs. 6,00,000 3,00,000
Rent Paid (8,000 * 12) 96,000
Less: 10% of Salary i.e. Rs. 6,00,000 -60,000 36,000 -36,000 84,000
Gross Salary 6,84,000
Less: Standard Deduction u/s 16(ia) -50,000
Less: Professional Tax u/s 16(iii) -2,500 -52,500
6,31,500
Income from House Property
Gross Annual Value 72,000
Actual Rent Receivable (6,000 * 12)
Less: Municipal Tax paid by owner (300 * 4) -1,200
Net Annual Value 70,800
Less: Standard Deduction u/s 24(a) - 30% of NAV -21,240
Less: Interest on Loan u/s 24(b) -10,000 -31,240
39,560
Income from Other Sources
Interest from Savings Banak A/c 1,08,000
Gross Total Income 7,79,060

Less: Deduction under Chapter VIA

U/s 80C
Life Insurance Premium 49,650
Deposit in PPF 27,000 76,650

U/s 80D
Mediclaim Insurance Premium (Actual amount Subject to Maximum) 25,000

U/s 80G
Donation to Ramkrishna Mission (20,000 @ 50%) 10,000

U/s 80TTA
Interest on Savings Bank A/c (Actual amount Subject to Maximum) 10,000 -1,21,650
Total Income 6,57,410

Computation of Tax
Particulars Amount Amount

Tax on General Income i.e. Rs. 6,57,410/-

First 2,50,000 -
2,50,000 to 5,00,00 i.e. Rs. 2,50,000 * 5% 12,500
Balance 1,57,410 * 20% 31,482 43,982

Add: Health & Education Cess (Rs. 45,982 * 4%) 1,759

Total Tax 45,741
Less: TDS -45,000
Tax paid u/s 140A 741
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80G Receipt