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The document is an income tax calculation sheet for Mandeep Kaur for the financial year 2024-25, detailing her gross salary, deductions, and taxable income. It outlines the various allowances, deductions under different sections, and the total tax payable, which amounts to 66,288 after considering the health and education cess. Additionally, it includes calculations based on the new tax structure, showing a net tax payable of 31,419.

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0% found this document useful (0 votes)
21 views3 pages

download

The document is an income tax calculation sheet for Mandeep Kaur for the financial year 2024-25, detailing her gross salary, deductions, and taxable income. It outlines the various allowances, deductions under different sections, and the total tax payable, which amounts to 66,288 after considering the health and education cess. Additionally, it includes calculations based on the new tax structure, showing a net tax payable of 31,419.

Uploaded by

arcswestldh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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INCOME TAX CALCULATION SHEET For Financial Year 2024-25 (Tentative)

Name: MANDEEP KAUR(382899) Designation: INSPECTOR


1451 URBAN VIHAR PHASE 1 DUGRI MODEL
PAN No: BUZPK7029P Address:
TOWN LUDHIANA
Posting ASSISSTANT REGISTRAR COOPERATIVE SOCIETIES
Mobile No: 8544807699
Office: LUDHIANA WEST C-1(25786)
Current DDO Details (Export Annual Salary Statement)
ASSISSTANT REGISTRAR COOPERATIVE
Department: REGISTRAR COOPERATIVE SOCIETIES Office:
SOCIETIES LUDHIANA WEST C-1
Particulars Amount Remarks
1 i) Gross Salary 998018 NPS: Govt. Contribution included.
ii) Standard Deduction 50000 Max Rs. 50000
iii) Pay Recovery 0
v) Special compensatory allowance, Remote locality allowance,
0 Max Rs. 1300/- per month.
Difficult area allowance, or Disturbed area allowance.
vi) Total Salary (i) - (ii + iii + iii + iv) 948018
vii) On the basis of production of Rent Receipt (Anyone whichever is less)
i) Total HRA Received 89248
ii) Annual Rent Paid 0
iii) Basic Pay 557800
iv) DA 219524
v)Total Rent Exempted (Annual Rent Paid-10%*(BP+DA)) 0
viii) Less H.R.A Received (If any) 0
ix) Children Education Reimbursement 0
x) Medical Reimbursement 0
xi) CM Security Risk Allowance Reimbursement 0
xii) Total Salary (vi) - (vii) + (ix) + (x) + (xi) 948018
2 i) Professional Tax 2400
HBA Borrowed on or after 01-04-1999 and the
possession taken before 01-04-2008, Maximum
ii) House Loan "interest under Chapter VI-A 0
entitlement is Rs. 2,00,000/- otherwise Rs. 30,000/-
only.
3 Net Income 945618
i) Income from NSC etc. 0
ii) Income from other source 0
iii) Income from Interest on Post Office Saving Account 0
iv) Income from Interest on Saving Bank 0
Exemption upto Rs 3,500/- in a Single Account Rs.
v) Less Interest on Post Office Saving Account(U/s 10 (ii)(i)) 0
7,000/- in Joint Account
vi) NPS Arrear 0
vii) Interest On GPF Taxable Amount 0
viii) Income from previous employer 0
4 Total Income 945618
5 Tax Rebate Under Section 80 C Maximum upto Rs. 1,50,000/- (One Lac Fifty thousand only)
i) G.P.F. 0
ii) C.G.E.G.I.S. 2880
iii) H.B.A. Principal 0
iv) LIC 0
v) PLI 0
vi) CTD 10yrs/P.P.F. 0
vii) NSC/NSS 0 Amount with (*) are deducted by DDO.
Entered amount must be greater than or equal to the
viii) Tuition Fees 0
amount deducted by DDO.
ix) Interest on Reinvested NSC 0
x) Bonds (if any) 0
xi) Pension Fund (80CCC) 0
xii) Employees Contribution(TIER-I)(N.P.S.) (80CCD) 77731
xiii) Other Office Saving under Section 80C 0
xiii) Employees Contribution(TIER-II)(N.P.S.) (80CCD) 0
xiv) EPF-D (Employees Provident Fund) 0
xv) Sukanya Samriddhi Yojana 0
Total of Item (5) Maximum Rs. 1,50,000/- 80611
80CCD(1B)-Additional Contribution to pension scheme 0 Max Limit 50000
Total Rebate Maximum Rs. 2,00,000/- 80611
6 Balance (4) - (5) 865007
7 Less Deductions under Chapter VI
a) i) Medical Insurance (80D) CGHS 0
ii) CGHS Deducted at Other Office 0
For insurance on health of self, spouse and dependent
iii) Medical Insurance (80D) OTHERS 0 children(or contribution to CGHS) - Max Rs.25,000.
For insurance on health of parents-Max Rs.25,000
For insurance on health of parents-Max Rs. 50,000 in
iv) Medical Insurance (80D) SENIOR CITIZEN 0
case of senior citizen.
b) i) Medical Treatment (80DD) 0 Medical treatment of handicapped dependent.
Expenditure on specified disease.Treatment of assesse
ii) Medical Treatment (80DDB) 0 or dependent spouse, children, parent amount upto
40000/-
50,- Jawahar Lal Nehru Memorial Fund, PM Drought
Relief Fund, National Childrens Fund, Indira Gandhi
Memorial Trust or Rajiv Gandhi Foundation.100,-
c) Donations (80G) 0 National Defence Fund, PM National Relief Fund,
National Foundation for Communal Harmony,etc. The
tax relief in respect of others u/s 80G shall have to be
claimed by filing IT return.
d) Physically Handicap (80U) 0
Gross total income does not exceed 10 lacs; shares in
e) Investment under equity saving scheme (80CCG) 0 notified scheme; lock-in period is 3 years; maximum
Rs.25,000/-
A Maximum period of 8 years begining from the year
f) Loan for Higher Education (80E) 0 in which payment of Interest on the loan begins or till
the interest is paid in full, whichever is earlier.
g) Employers/ Government Contribution (N.P.S) 108826
Maximum of Rs. 10,000/- of any income by way of
h) Less Interest on deposits in savings accounts (80TTA) 0 interest on deposits (not being time deposits) in a
saving accounts.
i) Total of (a)+(b)+(c)+(d)+(e)+(f)+(g)+(h) 108826
8 Gross Total Income (6) - (7) 756181
9 Total Taxable Income 756190 Gross Total Income rounded off to Rs. 10
10 Total Tax on Income on item (9) 63738 Slab-Wise Tax Calculation
Tax Rebate under Section 87A (Net Taxable Income upto
11 0
5,00,000)
12 i) Net Tax Payable (10) - (11) 63738
ii) Health & Education Cess @ 4% Payable 2550
Total of item (12) 66288
a) Total Income Tax deducted for Financial Year till January
13 33000
2025
b) Total Ed.Cess deducted for Financial Year till January 2025 0
c) Total Income Tax deducted at Other Office 0
d) Total Ed.Cess deducted at other office 0
14 Total Relief under Section 89 0
15 Balance Tax +Edu. Cess to be deducted for Financial Year 33288
Balance Tax to Rs. 30738 to be deducted for remaining 1 months of the Financial Year @ Rs. 30738 per month
Balance Edu. Cess to Rs. 2550 to be deducted for remaining 1 months of the Financial Year @ Rs. 2550 per month
INCOME TAX CALCULATION SHEET AS PER NEW TAX STRUCTURE
Gross Salary(Gross-Pay Recovery-NPS Govt.Contribution-
889192
Standard Deduction)
Standard Deduction 75000
(Gross Salary-Standard Deduction) +Income From Other
814192
Sources
Income Tax 31419 Slab-Wise Tax Calculation
Tax Rebate under Section 87A (Net Taxable Income upto
0
7,00,000)
Net Tax Payable 31419
Tax+Education Cess 32676
a) Total Income Tax deducted for Financial Year till January
33000
2025
b) Total Ed.Cess deducted for Financial Year till January 2025 0
Balance Tax +Edu. Cess to be deducted for Financial Year -324
Kindly select the appropriate option when drafting data

Date: 06/02/2025 MANDEEP KAUR(382899)

Filled Income Tax Sheet needs to be approved by DDO, only then Savings and other exemptions will be considered For Tax calculation.

Pan Card Details

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