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  • Computation of Income

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    NATIONAL FARMERS PRODUCER COMPANY
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    This document contains details of an individual's income computation for the financial year ending March 31. It lists sources of income including salary, house property, and other sources. It then details deductions claimed under sections 80C, 80CCC, 80CCD(1), and 80CCD(1B) for items like insurance, provident funds, housing loan repayment, pension schemes, and more. It calculates total taxable income after deductions, tax payable, and any tax liability or refund after accounting for TDS and rebates.

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    671907_20230119175021_computation_of_income

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    This document contains details of an individual's income computation for the financial year ending March 31. It lists sources of income including salary, house property, and other sources. It then details deductions claimed under sections 80C, 80CCC, 80CCD(1), and 80CCD(1B) for items like insurance, provident funds, housing loan repayment, pension schemes, and more. It calculates total taxable income after deductions, tax payable, and any tax liability or refund after accounting for TDS and rebates.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    4 views4 pages

    Computation of Income

    Uploaded by

    NATIONAL FARMERS PRODUCER COMPANY
    This document contains details of an individual's income computation for the financial year ending March 31. It lists sources of income including salary, house property, and other sources. It then details deductions claimed under sections 80C, 80CCC, 80CCD(1), and 80CCD(1B) for items like insurance, provident funds, housing loan repayment, pension schemes, and more. It calculates total taxable income after deductions, tax payable, and any tax liability or refund after accounting for TDS and rebates.

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    © All Rights Reserved
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    of 4

    Name

    PAN
    Date of Birth
    Computation of Income as on 31st March
    Income From Salary
    Gross Salary
    Less : HRA
    Less : Standard Deduction
    Less : Professional Tax

    Income from House Property


    Income from Other Sources
    Sec 80TTA
    Saving Bank interest
    Term Bank Deposit Interest
    NSC Interest for the year limit upto
    Post office deposit 10000
    Dividend & Others

    Less : Deduction under chapter VI A


    Sec 80 C
    Life insurance
    Provident Fund
    Public Provident Fund
    NSC investment + Accrued interest
    Housing loan principal repayment
    Sukanya Samriddhi Account
    Tuition fees for 2 children
    Tax Saving Fixed deposit in Bank limit upto
    Tax Saving Bonds & Others 150000

    Sec 80CCC
    Annuity plan of LIC or other insurer towards Pension Scheme

    80CCD(1)
    Pension Scheme of Central Government

    80CCD(1B)
    Payments made to Pension Scheme of Central Government, limit upto
    excluding deduction claimed under 80CCD (1) 50000

    Total Taxable Income


    Tax Payable
    Less : Rebate u/s 87A
    Tax Payable after rebate
    Add : Surcharge
    Add : Education + Health Cess
    Total Tax Liability
    Less : TDS from Salary
    Less : TDS from Bank on Interest
    Tax Payable / (Refundable)
    Financial Year
    Assesment Year
    March

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