INCOME TAX CALCULATION 2023-24(OLD TAX REGIME)

Financial Year 2023-24 ANNEXURE - II Assessment year 2024-25

Name : N. V. L. Deepika Age : Below 60 Years Office: MPPS, chinanindrakolanuno. 1
Designation SGT Address: MPPS, chinanindrakolanuno. 1, Nidamarru mandal, Eluru
Living in : Rented House PAN No : BAIPN0772K Treasury Id. No. 0457059
1 Gross Salary Rs. 649581
2 H.R.A. Exemption as per eligibility U/s 10(13-A)
a) Actual HRA received Rs. 48813
b) Rent paid in excess of 10% Salary -(Rent Rs.8300 Monthly )x12-10%(PAY+DA) Rs. 39523
c) 40% of Salary (Salary means Basic Pay + D.A) Rs. 240307 39523
3 Total Salary (1-2) Rs. 610058
4 Deductions from Salary Income
a) Exemption from Conveyance Allowance U/s. 10(14) (i) Rs. 0
b) Profession Tax U/s 16 (3) B Rs. 2400 2400
5 Income From Salary (3-4(a & b)) Rs. 607658
6 Less: Standard deduction- u/s16 (Ia) Rs. 50000
7 Net Income from Salary (5-6) Rs. 557658
8 a)Income form Other Source 00
b)Employer Contribution Towards NPS U/s 80CCD2 60076
Net Income from Salary (7+8) Rs. 617734
9 Deductions
a) E.W.F. / S.W.F / CMRF Rs. 70
b) Interest of Housing Loan U/s 24 Rs. 0
c) 80G Donations to Charities Rs. 0
d) 80DD/80U Self/Dependent Expenditure Rs. 0
e) Employees Health Cards Premium in AP Rs. 0
g) Employer Contribution Towards NPS U/s 80CCD2 Rs. 60076
Total Deductions Rs. 60146 60146
10 Gross Total Income (8-9) Rs. 557588
11 Savings U/s 80C ( Limited to Rs.1,50,000 )
a) CPS Rs. 10076
b) APGLI Rs. 36000
c) GIS Rs. 360
d) LIC Policies premium Yearly Rs. 0
e) Tuition Fee for Two children Rs. 0
Total Savings (Deductions) u/s 80C, 80CCC, 80CCD Rs. 46436 46436
12 Additional Benefit CPS Employee U/s 80CCD (1B)(upto Rs.50,000/-) Rs. 50000 50000
13 Gross Total Income (10-(11+12)) Rs. 461152
14 Net Taxable Income (12-13) Rounded to multiples of 10 Rs. 461150
15 Tax on Net Income (i.e on Rs.461150)
a) Upto-2,50,000/- Rs. Nil
b) 2,50,001/- to 5,00,000/- 5% ( 211150 @ 5% ) Rs. 10558
c) 5,00,001/- to 10,00,000/- 20% ( 0 @ 20% ) Rs. 0
d) Above 10,00,001/ - 30% ( 0 @ 30% ) Rs. 0
15 Tax on Income Rs 10558
16 Tax Rebate(U/s 87A-Rs.12500) below Rs.500,000 Rs. 10558
17 Cess(Health 1% + Education 3% ) Rs. 0
18 Net Tax Payble (16+17) Rs. 0
19 Details of Adv.Tax Deductions
Q1:(0+0+0=0) Q2: (0+0+0 = 0) Rs.
Total Advance Tax 0
Q3: (0+0+0 = 0) Q4: (0+0+0 = 0) Rs.
20 Tax to be Paid Amount (18-19) Rs. 0

Signature of the Employee Signature of the DDO

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