Santres Engineering Private Limited

Information required for calculating Income tax liability - Financial Year 2015-2016
Employee Name
Employee ID No.

Srikanth Dronamraju
SES-034

Permanent Account Number ( PAN )

ALWPD4913E

House Rent - Monthly (Rs.) - Note: 1

Location of Rented House - Mention name of city

180,000

Existing / Proposed Tax saving investments :

Please note that maximum limit for deduction U/S 80C is increased from 1 Lakh to 1.5 Lakh
80C
80C
80C
80C
80C

Life Insurance Premium

5 Years Fixed Deposit in Schedule Bank ( Tax saver scheme )
Children Education Expenses - Please See Note 2
Deposit in National savings certifcates
Deposit in Post Office Savings Scheme

80C
80C
80C
80C
80C

Tax saving Mutual Funds

Premium Paid towards Life Insurance Pension Plan
Principal Loan Repayment ( Housing Loan )
Public Provident Fund -PPF
ULIP of UTI/LIC

59,470
16,100
50,000

80E - Interest on educational loan

80CCG - Rajiv Gandhi Equity Savings Scheme ( This is applicable if Gross income is lowewr than 12L )
80D - Medical Insurance Premium
- For Family
- For Parents
- Expense on account of preventive health checkup (Max limit Rs. 5000)

Rs.

5850

Interest on housing loan

Please note that maximum limit for deduction is increased from 1.5 Lakh to 2 Lakh for self-occupied house
City in which the house property for which loan is taken is located
Medical expenses for self and family

Food Coupons ( Max. Limit of Rs. 2,500/- P.M)

Proposed Leave Travel Allowance Claim - Note 3

18,000

Telephone/ Internet Expenses

Note : 1
If annual rent paid by the employee exceeds Rs 1,00,000 per annum, it is mandatory for the employee
to report PAN of the landlord to the employer. In case the landlord does not have a PAN, a declaration
to this effect from the landlord along with the name and address of the landlord should be filed by
the employee.
Note : 2
Eligible Children Education expenses :
1. School tuition fee
2. Term fees
Expense for only 2 children can be claimed.
Note : 3
Rules for claiming LTA and Telephone expense reimbursement :
-Rules for claiming LTA :
Please provide travel bills like air tickets or train tickets for one round trip in a calendar year to claim a deduction for LTA
Only travel within India is allowed for LTA claim .

17635

Please give investments done or proposed to be made between

1 April 2015 to 31 March 2016

Please obtain a provisional interest payment certificate from

the loan provider

Maximum limit of Rs.15,000 per year for medical expenses

Indicate the amount for which bills would be available
Denomination (500, 1000, 1500, 2000 & 2500)
Please note that only one vacation per year , within India , is eligible

Only the expenditure on fare is eligible [ cost of air , train , bus tickets ]
Deduction will be restricted as per the fare rules under the Income
Tax Laws

Income tax slabs for F.Y 2015-16

Income tax for General tax payers and Women
From
250,001
500,001
Above 10,00,000

To

Rate

250,000
500,000
1,000,001

0%
10%
20%
30%

Income tax slabs for Senior citizens (Aged 60 years but less than 80 years)
From
300,001
500,001
Above 10,00,000

To

Rate

300,000
500,000
1,000,001

0%
10%
20%
30%

Income tax slabs 2013-2014 for very senior citizens (Aged 80 and above)
From
500,001
Above 10,00,000

To
500,000
1,000,001

Rate
0%
20%
30%

In addition an rebate of Rs 2000 will be available for income less than Rs 5 lakhs under section 87A of the Act
There is a surcharge of 10 per cent on persons whose taxable income exceed Rs. 1 crore per year.

ection 87A of the Act