Female Male

Single Couple SALARY TAX CALCULATION SHEET ONLY FILL THE HIGHLIGHTED CELLS/ Copy the whole column to right for new employee Name Designation Sex Martial Status Salary structure Basic Salary Dearness Allowances PF Contribution by employee Dashain Allowance Bonus Prizes Prequisite for house (2%/25%) Prequisite for car (0.5/1%) Overtime Allowances Other allowances (add below)

Female Couple 1

Income from Employment Less: Allowable Reduction: a) Contribution to CIT/ Retirement fund Actual Amount deposited Allowable Reduction b) Donation Actual donation paid Allowable donation Total Taxable Income Less: Disabled Deduction(50% of basic exemption) Less: Life insurance premium Amount paid Allowable Reduction TAXABLE INCOME Calculation of Income Tax Liability First Limit (couple: 2,00,000, single:160000) (SSC) 1% Next limit ( 100000) 15% Balance Amount 25% In excess of 25 lacs (40%) i.e 35% Total tax liability Less: Rebate for women 10% Net tax liability Less: Medical tax credit Amount spent on medical expenses

Tax deducted for MTC TAX PAYABLE Shailendra Uprety, ACA Partner Banskota & Company Chartered Accountants 46, New Plaza Road Putalisadak Kathmandu, Nepal P.o. Box.: 5637 Tel: +977-1-4440935 Fax:+977-1-4440928 e-mail: cauprety@gmail.com

For medicaal tax credit one has to fill Credit Claim Form --Annex11 salary for perquisite= basic + annual Increments House 2% of salary- reciving monthly income 25% of rent -for others

Vehicle (does not include MotorCycle) inludes car, jeep or similar 0.5%of salary- reciving monthly income 1% of MV of vehicle- for others Single Couple Male Female