Computation of Tax Payable by Mr. BASUDEB SHARMA for AY 2020-21 Computation of Tax Payable by Mr.

Computation of Tax Payable by Mr. BASUDEB SHARMA for AY 2020-21

Gross Salary Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Total
1 Basic Salary 19,306 19,306 19,306 19,306 19,306 19,306 19,306 19,306 19,306 19,306 19,306 19,306 231,672
2 House Rent Allowance 17,292 17,292 17,292 17,292 17,292 17,292 17,292 17,292 17,292 17,292 17,292 17,292 207,504 Income from salary
3 Conveyance Allowance 16,896 16,896 16,896 16,896 16,896 16,896 16,896 16,896 16,896 16,896 16,896 16,896 202,752 1 Gross salary 765,514
4 Meg. Allowance 500 500 500 500 500 500 500 500 500 500 500 500 6,000 2 Less: Exemptions
5 Education Allowance 750 750 750 750 750 750 750 750 750 750 750 750 9,000 2.1 House Rent Allowance pending
2.1 AL.T.A 2,400
6 City Compensatory Allowance - - - - - - - - - - - - - 2.2 Conveyance allowance 50,000 (52,400)
7 Washing allowance 40 40 40 40 40 40 40 40 40 40 40 40 480 3 Taxable Salary 713,114
8 Special allowance 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 36,000
8 Other Allowance 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 36,000 4 Deductions under Chapter VIA
9 Good Work Allowance - - - - - - - - - - - - 4.1 Deduction u/s 80CCC [Pension Fund] -
10 Leave Travel Allowance - - - - - - - - - - - 19,306 19,306 4.2 Deduction u/s 80D [Medical Insurance Premia] -
11 Performance Award - - - - - - - - - - - - 4.3 Deduction u/s 80G -
12 Others (Bonus & Exgratia) - - - - - - - - - - - 16,800 16,800 4.4 Deduction u/s 192(2B) [Loss from House Property]
Total 60,784 60,784 60,784 60,784 60,784 60,784 60,784 60,784 60,784 60,784 60,784 96,890 765,514 4.5 Deduction U/s 80C * 27,801
Sub total (27,801)
B Computation of HRA 5 Total Income 685,313
1 HRA Received 17,292 17,292 17,292 17,292 17,292 17,292 17,292 17,292 17,292 17,292 17,292 17,292 207,504
2 Rent paid-10% of Salary (see note-1 below) 6,569 6,569 6,569 6,569 6,569 6,569 6,569 6,569 6,569 6,569 6,569 6,569 78,833 Tax on Total Income 49,563
3 40% of salary 7,722 7,722 7,722 7,722 7,722 7,722 7,722 7,722 7,722 7,722 7,722 7,722 92,669 Less:- tax Exempt 87A RS.2500/- -
balance Tax Payable 49,563
Exempt=B.1, B.2 or B.3 whichever is least 6,569 6,569 6,569 6,569 6,569 6,569 6,569 6,569 6,569 6,569 6,569 6,569 78,833 Add: Education Cess @4% 1983

Note-1 TOTAL TAX PAYABLE 51545 ok

Rent paid 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500 8,500 102,000
10% of Basic 1,931 1,931 1,931 1,931 1,931 1,931 1,931 1,931 1,931 1,931 1,931 1,931 23,167 * Deduction U/s 80C 51545 17181.726
Provident Fund 27,801
C Computation of Conveyance allowance PPF -
(Actual receipt or Rs.800 p.m. whichever is l 1,600 1,600 1,600 1,600 1,600 1,600 1,600 1,600 1,600 1,600 1,600 1,600 19,200 LIC Premium
home loan principal
Tution Fees 56340 46980
D Computation of Pension Fund [sec 80CCC] Total cannot exceed Rs.100000 27,801
Amount Paid, or - (122,199)
Rs. 10000, whichever is less -
NOTE : To decrease Tax Amount, Submit the following Documents
E Computation of Medical Insurance Premia [sec 80D]
Amount Paid, or - 1 Original Copy of all Rent receipts
Rs. 10000, whichever is less - 2 Original Copy of all Tution Fees (for two children only)
3 Photocopy of LIC Prem., mediclaim prem., PPF Challan,NSC,
F Computation of Tax Payable Infrastructure Bonds, LIC Prem on pension Fund, Repayment
up to Rs.250000 Nil of Housing Loan etc.
from Rs.250001-500000 5% 12,500 4 Photocopy of Permanent Account Number (PAN)
from Rs 500001-1000000 20% 37,063
from Rs.1000001 and above 30%
Sub total 49,563 Jan.20 17185
Feb.20 17185
Mar.20 17185

51555
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