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ANTICIPATED INCOME TAX STATEMENT FOR THE FINANCIAL YEAR 2014-15 ( ASSESSMENT YEAR 2015-2016)

In respect of Smt. Reenadas T.R, Judicial First Class Magistrate, Kattakada

Thiruvananthapuram to be furnished by the Employee / officers whose income exceeds Rs. 2,00,000/-

1 Salary for

a.

Mar-14

67,746.00

April

67,746.00

May

67,746.00

June

67,746.00

July

67,746.00

 

August

67,746.00

September

67,746.00

October

67,746.00

November

67,746.00

December

67,746.00

Jan-15

67,746.00

February

67,746.00

b.

c.

Surrender

 

Festival Allowance / Bonus / Ex-gratia And Incentive.

:

2,200.00

d.

DA Arrear

e.

Pay Arrear

f.

Grade Fixation Arrear

 

g.

Conveyance

g.

Other Allowances, Onam Advance

 

h.

Total Salary Income

:

8,15,152.00

2 Deduct : HRA in the case of persons who actually incur expenditure by way of rent ( Under Section 10 )

 

I.

Actual HRA received during the year

 

:

-

ii.

Actual rent paid in excess of one tenth of the salary

:

-

iii.

40

% of the Salary

:

-

(i) to (iii) Whichever is least is exempted

:

Less : Allowances, Conveyance Allowance Medical Allowance Sumptury Allowance

:

-

3 Balance ( 1 - 2 )

8,15,152.00

4 Less : Deductions

a. Standard deduction

:

-

b. Profession Tax Paid

:

2,500.00

c. Risk Alllwance

:

-

Agregate of a to c

:

2,500.00

5 Net Salary Income ( 3 - 4 )

 

8,12,652.00

6 Income chargable under other head Interest on HBA

 

:

1,50,000.00

1,50,000.00

7 Any other Income

:

8 Gross Total Income

:

6,62,652.00

9 Deduction Under Chapter. VI A

 

a CCC ( Jevan Suraksha)

80

 

:

-

b D Mediclaim

80

:

c Chief Ministers Distress Relief Fund

 

:

-

Total ( a + b + c

)

:

-

10

Deduction U/s.80C [max Rs.1,00,000/-]

 

a.

GPF

45,000.00

b.

SLI

9,600.00

c.

GIS

e.

LIC

6,660.00

d

Arrear to GPF

f.

Housing loan repayment

64,078.00

g.

GPAIS

300.00

1,25,638.00

1,00,000.00

11

Total Income ( 8-10 )

 

5,62,652.00

 

Rounded off to the nearest multiple of the rupees

:

5,62,650.00

12

Tax on Total Income

 

42,530.00

I. The total income does not exceed Rs. 2,00,000/-

-

ii. The total income exceeds Rs. 2,00,000/- but does not

:

30,000.00

exceed Rs. 5,00,000/- (10% of the amount by which the total income exceeds Rs. 2,00,000/- )

12,530.00

iii. The total income exceeds Rs. 5,00,000/- but does not

:

-

 

exceeds Rs 10,00,000/- (Rs. 100000/- plus 30% of the amount by which the total income exceeds Rs. 10,00,000/- )

 

13

Add Surcharge @10% if the total income exceeds Rs.10,00,000/-)

 

-

14

Income Tax & Surcharge payable (12+13)

 

42,530.00

15

Add: Educational Cess @ 3%

 

:

1,275.90

16

Total Tax Payable (14+15)

:

43,805.90

17

Less: Relief for arrears of Salary U/s.89(1)

 

18

Balance Tax Payable (16-17)

 

43,805.90

19

Amount of Tax already deducted from Salary

 

:

20

Balance Income Tax to be paid.

:

43,805.90

21

Advance Tax Paid

 

-

22

Balance Income Tax to be paid.

43,805.90

24

Balance Income Tax [deducted from the Salary bill (Feb 2015)]

 

43,810.00

25

Balance Income Tax to be paid/ Refund

 

Place

:

Trivandrum

Date

:

02-04-2014

Reenadas T.R, Judicial First Class Magistrate, Kattakada

Thiruvananthapuram