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Income Tax Statement

The document outlines the income tax computation for Jujjavarapu Manikanta for the financial year 2022-2023, detailing his taxable income, deductions, and exemptions. The total taxable income is calculated to be 576,589.00 INR, with a total tax liability of 28,931.00 INR. The document also specifies the tax paid to date and the balance payable in installments.

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manikanta jujjavarapu
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8 views5 pages

Income Tax Statement

The document outlines the income tax computation for Jujjavarapu Manikanta for the financial year 2022-2023, detailing his taxable income, deductions, and exemptions. The total taxable income is calculated to be 576,589.00 INR, with a total tax liability of 28,931.00 INR. The document also specifies the tax paid to date and the balance payable in installments.

Uploaded by

manikanta jujjavarapu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Whisk Software Pvt Ltd

(SUBSIDIARY OF GSPANN TECHNOLOGIES INC.)

355 Udyog Vihar, Phase ll, Gurgaon, Haryana - 122016 India Phone: +91 124 4295663
Income Tax Computation For The Financial Year 2022-2023

Employee No.: EMP3246 Name: Jujjavarapu Manikanta

PAN No. : BEUPJ2410N Gender : Male Location: Hyderabad

Date of Join: 19-Sep-2022 Date of Birth : 24-Feb-1988 Date of Leaving:


Tax Regime: OLD

A) Taxable Income
(i) Monthly Income
Pay Items Total Apr 2022 May 2022 Jun 2022 July 2022 Aug 2022 Sep 2022 Oct 2022 Nov 2022 Dec 2022 Jan 2023 Feb 2023 Mar 2023
BASIC 234669.00 0.00 0.00 0.00 0.00 0.00 14667.00 36667.00 36667.00 36667.00 36667.00 36667.00 36667.00
HRA 117338.00 0.00 0.00 0.00 0.00 0.00 7334.00 18334.00 18334.00 18334.00 18334.00 18334.00 18334.00
LTA REIMBURSEMENT 22400.00 0.00 0.00 0.00 0.00 0.00 1400.00 3500.00 3500.00 3500.00 3500.00 3500.00 3500.00
FUEL REIMBURSEMENT 11520.00 0.00 0.00 0.00 0.00 0.00 720.00 1800.00 1800.00 1800.00 1800.00 1800.00 1800.00
TELEPHONE 9600.00 0.00 0.00 0.00 0.00 0.00 600.00 1500.00 1500.00 1500.00 1500.00 1500.00 1500.00
REIMBURSEMENT
BOOKS AND PERIODICALS 6400.00 0.00 0.00 0.00 0.00 0.00 400.00 1000.00 1000.00 1000.00 1000.00 1000.00 1000.00
REIMBURSEMENT
SPECIAL ALLOWANCE 173222.00 0.00 0.00 0.00 0.00 0.00 10826.00 27066.00 27066.00 27066.00 27066.00 27066.00 27066.00
Total 575149.00 0.00 0.00 0.00 0.00 0.00 35947.00 89867.00 89867.00 89867.00 89867.00 89867.00 89867.00

(ii) Adhoc Income


Pay Items Total Apr 2022 May 2022 Jun 2022 July 2022 Aug 2022 Sep 2022 Oct 2022 Nov 2022 Dec 2022 Jan 2023 Feb 2023 Mar 2023
JOINING BONUS 50000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 50000.00 0.00 0.00 0.00
SHIFT ALLOWANCE 15400.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 15400.00 0.00 0.00 0.00
Total 65400.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 65400.00 0.00 0.00 0.00
B) Deduction
Pay Items Total Apr 2022 May 2022 Jun 2022 Jul 2022 Aug 2022 Sep 2022 Oct 2022 Nov 2022 Dec 2022 Jan 2023 Feb 2023 Mar 2023
PF 12560.00 0.00 0.00 0.00 0.00 0.00 1760.00 1800.00 1800.00 1800.00 1800.00 1800.00 1800.00
PROF TAX 1400.00 0.00 0.00 0.00 0.00 0.00 200.00 200.00 200.00 200.00 200.00 200.00 200.00
INCOME TAX 13054.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 10307.00 2747.00 0.00 0.00
Total 27,014.00 0.00 0.00 0.00 0.00 0.00 1960.00 2000.00 2000.00 12307.00 4747.00 2000.00 2000.00

C) Perquisites
Pay Items Total Apr 2022 May 2022 Jun 2022 July 2022 Aug 2022 Sep 2022 Oct 2022 Nov 2022 Dec 2022 Jan 2023 Feb 2023 Mar 2023
Total

D) Gross Salary (A+C) ................................................................................. 640,549.00

E) Less exemption under Section 10


Monthly Rent
Month Metro / Non- Rent Paid HRA Basic DA 40 / 50 % Rent paid - HRA
metro Received of Basic DA 10% of Exemption
Basic
Apr 40.00 0.00 0.00 0.00 0.00 0.00 0.00
May 40.00 0.00 0.00 0.00 0.00 0.00 0.00
Jun 40.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul 40.00 0.00 0.00 0.00 0.00 0.00 0.00
Aug 40.00 0.00 0.00 0.00 0.00 0.00 0.00
Sep 40.00 0.00 7,334.00 14,667.00 5,867.00 0.00 0.00
Oct 40.00 0.00 18,334.00 36,667.00 14,667.00 0.00 0.00
Nov 40.00 0.00 18,334.00 36,667.00 14,667.00 0.00 0.00
Dec 40.00 0.00 18,334.00 36,667.00 14,667.00 0.00 0.00
Jan 40.00 0.00 18,334.00 36,667.00 14,667.00 0.00 0.00
Feb 40.00 0.00 18,334.00 36,667.00 14,667.00 0.00 0.00
Mar 40.00 0.00 18,334.00 36,667.00 14,667.00 0.00 0.00
Total 0.00 117,338.00 234,669.00 93,869.00 0.00 0.00
Item Exemption
House Rent Allowance : Section 10(13A) 0.00
Leave Travel Assistance : Sec. 10(5) 0.00
ACTUAL FUEL EXEMPTION 0.00
ACTUAL MEAL VOUCHR EXEMPT 0.00
ACTUAL TELEPHONE EXEMPTION 0.00
Books And Periodicals Exemption 0.00

Created on: 01 Mar 2023, 14:06 +0530 Page 2 of 5


EDUCATION EXEMPT 0.00
FUEL EXEMPT 0.00
FUEL EXEMPT WRITEBACK 0.00
GIFT Exemption 0.00
GRATUITY EXEMPTION 0.00
MEAL VOUCHER EXEMPT 0.00
MEAL VOUCHER EXEMPT WRITEBACK 0.00
Telephone Exemption 0.00
Total Exemptions 0.00

F ) Income from Previous employer


Pay Items Amount

Total Income 0.00


Income Tax 0.00
Professional Tax 0.00
Provident Fund 0.00

G) Income after exemption ( D - E + F ) .................................................. 640,549.00


H) Less Deduction under Section 16 .................................................... 51,400.00

Sl.No. Description Amount


(i) Tax on Employment : Sec 16(iii) 1400.00
(ii) Standard Deduction : Sec 16(ia) 50,000.00

I) Income chargeable under the head salaries (G - H) ....................... 589,149.00


J) Add any other income declared by the employee (a+b)............... 0.00

Created on: 01 Mar 2023, 14:06 +0530 Page 3 of 5


(a) Other Income

Description Amount
Sub Total
(b) Income/Loss from house property [ (i) + (ii) ]......................... 0.00

(i) Interest on housing loan (Self occupied)....................... 0.00

(ii) Income/Loss from letout property

Property No Annual Rent Municipal Unrealized Net Annual Standard Interest on Income/ Considered
Recieved Taxes Rent Value(2-(3+4)) Deduction housing loan Loss(5-(6+7)) Amount
@30%
(1) (2) (3) (4) (5) (6) (7) (8) (9)
Total :

K) Gross Total Income (I + J) .......................................................... 589,149.00


L) Deduction under chapter VI A ................................................... 12,560.00

Investment Section Gross Qualifying Deductible


PF 80C 12,560.00 12,560.00 12,560.00
Sub Total 12,560.00 12,560.00 12,560.00

M) Taxable Income ................................................................................. 576,589.00


N) Total Tax to be Paid ........................................................................... 28,931.00

Income Tax Surcharge Health & Edu. Total


Cess
27,818.00 0.00 1,113.00 28,931.00

O) Tax Paid Till Date ................................................................................... 13,054.00

Income Tax Surcharge Health & Edu. Total


Cess
Deduction Through Payroll 12,552.00 0.00 502.00 13,054.00
Direct TDS 0.00 0.00 0.00 0.00
Previous Employment 0.00 0.00 0.00 0.00
Total 12,552.00 0.00 502.00 13,054.00

Created on: 01 Mar 2023, 14:06 +0530 Page 4 of 5


P) Relief Under Section 89 .............................................................................. 0.00

Income Tax Surcharge Health & Edu. Total


Cess
0.00 0.00 0.00 0.00

Q) Annual Tax Balance ................................................................................. 15,877.00

Income Tax Surcharge Health & Edu. Total


Cess
15,266.00 0.00 611.00 15,877.00

R) TDS Recovered in current month .......................................................... 7,939.00

i) Monthly tax
Income Tax Surcharge Health & Edu. Total
Cess
7,633.00 0.00 306.00 7,939.00

S) Balance Payable (in 1 Installments) - Income Tax 7,938.00


@Rate of Rs. 7938 per month from Mar 2023

Created on: 01 Mar 2023, 14:06 +0530 Page 5 of 5

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