I Tax Calculator 08 09

8/14/2019 I Tax Calculator 08 09

1/11

Statement Showing details of pay and allowances paid to xxx xxx

Sr.No Month Basic D.P D.A. H.R.A. CLA Con.All. Gross Total G.P.F P.T. GIS PPF LIC I. Tax

1 Mar-08 9250 4625 6521 694 0 200 21290 1000 200 0 0 687 0

2 Apr-08 9250 4625 6521 694 0 200 21290 1000 200 0 0 687 0

3 May-08 9250 4625 6521 694 0 200 21290 1000 200 0 0 687 0

4 Jun-08 9250 4625 6521 694 0 200 21290 1000 200 0 0 687 0

5 Jul-08 9475 4738 7675 711 0 200 22799 1000 200 0 0 687 0

6 Aug-08 9475 4738 7675 711 0 200 22799 1000 200 0 0 687 0

7 Sep-08 9475 4738 7675 711 0 200 22799 1000 200 0 0 687 0

8 Oct-08 9475 4738 7675 711 0 200 22799 1000 200 0 0 687 0

9 Nov-08 9475 4738 7675 711 0 200 22799 1000 200 0 0 687 0

10 Dec-08 9475 4738 7675 711 0 200 22799 1000 200 0 0 687 0

11 Jan-09 9475 4738 7675 711 0 200 22799 1000 200 0 0 687 0

12 Feb-09 9475 4738 7675 711 0 200 22799 1000 300 0 0 687 0

13 6 PC.Adv. 0 0 0 0 0 0 0 0 0 0 0 0 0

14 D.A.arr 0 0 0 0 0 0 0 0 0 0 0 0 0

Total 112800 56404 87484 8464 0 2400 267552 12000 2500 0 0 8244 0

Deduction Under 80 C,80CCC & 80CCD

1) Housing Loan Principal 0 H. Loan Interest u/s10 0 xxx

2) G.P.F. 12000 0 Designation xxx

3) L.I.C. 00

PAN No. xxx

4) G.I.S. 0 Fathers Name xxx

5) P.P.F. 00

Date of Birth xxx

6) Mutual Fund ELSS 0 Gender M

7) P.L.I. / U.T.I. 00

Bank A/C. Number xxx

8) Educational Fees 0

Income Tax Calculator 2008-09 ( By Rajesh Nage, Mo. 9422208050)

For the period from 1/4/2008 to 31/03/2009 and authorised deductions admissible U/S 88 of the income tax

Name of the Employee

Mediclaim Insurance 80D

Expenditure for medicaltreatment for dependentrelative. u/s 80 DD

Interest on educational loan forhigher education.u/s 80 E

Deduction for handicappedperson u/s 80 U

For Male type M and forFemale type F

Type Tax Payer InformationFill details of Investments and


2/11

Total Deduction u/s 80 C 12000 Total Income Tax 9,496

Tax payable/ refundable 9,496 Signature of Employee

Deductions under Chapter VI-A

(Section) Normal Rates of tax: 2008-09

1 80C Investment in approved schemes. Maximum eligible 1 Where the total income does not NIL

Rs 100,000 for 80C + 80CCC + 80CCD exceed Rs.1,50,000/-.

2 80CCC Contribution to annuity plans. Maximum eligible amount is Rs 2 Where the total income exceeds 10%

10,000. Maximum eligible amount is Rs 100,000 for 80C + Rs.1,50,000 but does not exceed80CCC + 80CCD Rs.3,00,000/-.

3 80CCD Contribution to pension scheme by Central Govt employees. 3 Where the total income exceeds 15000+20%

Maximum eligible amount is 10% of Salary. Maximum eligible Rs.3,00,000/- but does not exceed

amount is Rs 100,000 for 80C + 80CCC + 80CCD Rs.5,00,000/-.

4 80D Mediclaim insurance.Maximum eligible amount is Rs 10,000 4 Where the total income exceeds 55000+30%

(Rs 15,000 for Senior Citizen) Rs.5,00,000/-.

5 80DD Expenditure for medical treatment for dependent relative. Rates of tax for a woman, resident in India and below

Maximum eligible amount is Rs 50,000 (Rs 75,000 for severe sixty-five years of age:

disability) 1 Where the total income does not NIL

6 80DDB Medical expenditure for specified diseases. Maximum eligible exceed Rs.1,80,000/-.

amount is Rs 40,000 (Rs 60,000 for Senior Citizen) 2 Where the total income exceeds 10%

7 80E Interest on educational loan for higher education. Rs.1,80,000 but does not exceed

8 80G Deduction for donation on the basis of valid receipt from Rs.3,00,000/-.

approved institutions. See IT Act / Rules for allowable deduction 3 Where the total income exceeds 12000+20%

9 80GG Deduction for rent paid where no HRA is received. Maximum Rs.3,00,000/- but does not exceed

eligible amount is Rs 24,000. See IT Act / Rules for allowable Rs.5,00,000/-.

deduction 4 Where the total income exceeds 52000+30%

10 80GGA Donation or contribution to specified organizations. See IT Act / Rs.5,00,000/-.

Rules for allowable deduction Calculate surcharge at 10% on tax payable as per Instructions if

Click on Form 16 sheet to see


3/11

11 80GGC Donation to registered political party. total income exceeds Rs 10,00,000. Round off to nearest

12 80U Deduction for handicapped persons. Maximum eligible amount Rupee

is Rs 50,000 (Rs 75,000 for severe disability) Calculate education cess at 3% on tax payable + surcharge, if

any. Round off to nearest Rupee

Income Tax Slab For The Financial Year 2008-09 (For Individuals)

Taxable income slab (Rs.) Rate (%)Up to 1,50,000 (for men below 65 Yrs)

NILUp to 1,80,000 (for women below 65 Yrs)

Up to 2,25,000 (for senior citizens[65 Yrs & above])

1,50,001 3,00,000 10*

3,00,001 5,00,000 20*

Income above 5,00,001 30**


4/11


5/11


6/11


7/11

Statement of Taxable Income

Computation of Income Tax on Salary Income for the financial 2008-09

Inrespect of :- xxx Designation:- xxx

PAN NO :- xxx M

Fathers Name :- xxx

Date Of Birth :- xxx

Bank A/C Number :- xxx

1 Salary Income (As per Statement) 267552

2 Direct deduction u/s 10I) Prof Tax 2500

ii)Transport Allowance 2400

iii)House loan intersest 0

iv)HRA exempted(Whicheaver is less is exempted)

1.Actual Amount of HRA received Rs

2.Expenditure on Rent in execess of 10% of Salary

Including D.A. Rs

A) Actual Rent Paid Rs..

B) 1/10 of Salary Rs.

3)40% of the Salary including DA Rs.

4900 4900

TOTAL INCOME-------- Rs. 262652

3 Add any other Income if any Rs. Rs. 0

Total Gross Income Rs. 262652

4 Rebate u/s 80

I)G.P.F Rs 12000

ii)P.P.F Rs 0

iii)G.I,S. Rs 0

iv)L.I.C./PLI Rs 0

v)NSC/Bons Rs 0

vi)ULIP/Tuition fee Rs 0

vii) Donation /CMFUND Rs 0

viii)House Loan Premium Rs 0

ix) Othe Investments Mutul Fund Rs 0

Pention Plan-II icici. 0

Total( I to iX)Deduction u/s 80 C up to 1 Lack Rs 12000 12000

5 Taxable Income 250652

6 Tax on Taxable income 10065

7 Surcharge if Taxable Income is 10 lakh & Above @ 10% on IT 0

8 Education Case @ 3% of Income Tax Rs 302

9 TOTAL INCOME TAX PAYBLE (6,7,8) Rs 10367

10 INCOME TAX ALREADY DEDUCTED Rs 0

11 NOW INCOME TAX TO BE DEDUCTED Rs 10367

Certified that the above information is correct to the best of my knowledge & belief.

Signature of the Employee

Date 22-Jan-09

Place Kannad Principal


8/11

Statement of Taxable Income

Income Tax Slab For The Financial Year 2008-09 (For Individuals)

Taxable income slab (Rs.) Rate (%)

Up to 1,50,000 (for men below 65 Yrs)

NILUp to 1,80,000 (for women below 65 Yrs)Up to 2,25,000 (for senior citizens[65 Yrs & above])

1,50,001 3,00,000 10*

3,00,001 5,00,000 20*

Income above 5,00,001 30**


9/11

13335796.xls 01/22/2009

Form 16 for FY 2008-09( By Rajesh Nage, Mo. 9422208050)

FORM NO 16[ See rule 31 (1) (a)]

Cerificate under section 203 of the Income-tax Act,1961 for tax deducted

at source from income chargeable under the head " Salaries"

Name and Address of the Employer Name and Designation of the Employee

Dr.Bhimrao Ambedkar Jr. College, xxx

Kannad Dist. Aurangabad xxxPAN/GIR NO TAN No. NSK D 02133F PAN/GIR NO.

xxx

Quarter Acknowldgement No. PERIODAssesment Year

Quarter1 From To

Quarter2

Quarter3 01-Apr-08 31-Mar-09 2009-2010

Quarter4 to be filed.

DETAILS OF SALARY PAID AND ANY OTHER INCOME AND TAX DEDUCTED

1 Gross Salary

a) Salary as per provision contained in sec. 17(1) Rs. 267,552

b) Value of perquisites u/s 17 (2)(as per form no. 12 BA wherever applicable) Rs. 0

c) Profits in lieu of salary u/s 17(3)

( as per Form No.12 BA, wherever applicable) Rs. 0

d) Total 267,552

2 Less: Allowance to the extent exempt u/s10

b) Interest on Home Loan Rs. 0

c) H.R.A. Rs. 8464

d) Rs. 0

e) Rs. 0

3 Balance ( 1-2 ) Rs. 259,088

4 Deductions:

a) Conveniance allowance Rs. 2,400

b)Tax on Employment Rs. 2,500

5 Aggregate of 4(a) & 4 ( b ) Rs. 4,900

6 Income chargeable under the head 'Salaries' (3-5) Rs. 254,188

7 Add: Any other income reported by the employee

a) Income under the head 'Income from House property Rs.

b) Income under the head 'Income from other sources Rs.

c) Total of (a) + (b) Rs. 0

8 Gross Total Income ( 6+7 ) Rs. 254,188

9 Deduction under Chapter VI-AGross Amt Qualify Amt Ded. Amoun

A) Sections 80C,80CCC and 80CCD

(a) Section 80C

(i) Housing Loan Principal Rs. 0 0 0

(ii) G.P.F. Rs. 12,000 12,000 12000

(iii) L.I.C. Rs. 0 0 0

(vi) P.P.F. Rs. 0 0 0

(v) Mutual Fund ELSS Rs. 0 0 0

(vi) P.L.I. / U.T.I. Rs. 0 0 0

(vii) G.I.S. Rs. 0 0 0

Acknowledgement Nos.og all quarterly Statements of TDS under sub sec (3) ofsection 200 as provided by TIN facilation Centre or NSDL web site.


10/11

13335796.xls 01/22/2009

(viii) Education Fees Rs. 0 0 0

( b)Section 80CCC 0 0 0

( c)Section 80CCD 0 0 0

(B) Other Sections ( for e,g, 80E,80G) under Chapter VI-A

( a ) Section 80 D Mediclaim Rs. 0 0 0

( b ) Section 80 DD Med. Expt. Of Dependt Rs. 0 0 0

( c ) Section 80 E Education Loan Interest Rs. 0 0 0

( d ) Section 80 GG HRA not received Rs. 0 0 0

( e ) Section 80 U Handicraft Person Rs. 0 0 0( f ) Section Rs. 0 0 0

10 Aggregate of deductible amounts under Chapter VI-A Rs. 12,000 12,000 12,000

11 Total Taxable Income ( 8 - 10 ) Rs. 242,188

12 Tax on Total Income Rs. 9,219

13 Surcharge ( On tax Computed at S.No.12 ) Rs. 0

14 Education Cess (On tax at S.No. 12 and surcharge at S.No.13) Rs. 277

15 Tax payable on Total Income (12+13+14) Rs. 9,49616 Relief under section 89 ( attach details ) Rs. 0

17 Tax Payable ( 15 - 16) 9,496

18 Less: (a) Tax deduted at source u/s 192(1) Rs 0

(b) Tax paid by the employer on behalf of the employee 0

u/s192(1A) on perquisites u/s17(2)

19 Tax payable/ refundable ( 17 -18 ) Rs. 9,496

DETAILS OF TAX DEDUCTED AND DEPOSITED INTO CENTRAL GOVT.ACCOUNT

Sr.No. TDS Rs.

Signature of the Person responsible for deduction of tax.

Place:- Kannad

Surcharge

Rs.

Education

Cess Rs.

Total Tax

DepositedRs.

Cheque/D

D No.

BSR Code

of BankBranch

Date on

which taxdeposited

Transfer

Voucher/Challan No

I Bhosale Vijay son of Bhosale Nanasaheb working in the capacity of Principal do hereby certify that a sum of Rs.( Rs.

) has beeen deducted at source and paid to the credit of the central Govt. . I furthercertify that information given above is true and correct based on the books of Accounts, document and available records


11/11

Date:- 22-Jan-2009 Full Name:- Dr.Bhosale Vijay Nanasaheb

Designation:-Principal

Documents

I Tax Calculator 08 09