Salary for the month of July 2008

Arindam Das

Basic
HRA
Conveyence Allowance
Medical**
Other Allowance

DOJ

10-Mar-08
Annual
Package
Rs.
180,000
90,000
9,600
15,000
65,400
360,000

Monthly
Rs.
15,000
7,500
800
1,250
5,450
30,000

No. of Days Attendence

Salary For this month
(--) Profession Tax
(--) TDS For This Month
Net Payment of Salary
Payment by Meal Vouchers
Add:Special Allowance

30
30,000
200
29,800
2,000 (Optional)
-

Payment by Cheque

27,800
27,800

Total Payment to be made by cheque

APR 08
MAY 08
JUNE 08
30,000
30,000
30,000
200
200
200
29,800
29,800
29,800
2,000
2,000
2,000
27,800

27,800

27,800

Calculation of HRA Deduction :

Actual HRA Received
50% Of Basic
Rent Paid - 10% of Basic
Rent Paid*
10% of Basic

90,000
90,000
90,000
108,000
18,000

Calculation of TDS :
Gross Salary
Bonus
(--) HRA
(--) Medical
(--) Conveyence
(--) Profession Tax
(--) Meal Vouchers
Net Salary
Other Income
Gross Total Income
Less : Deductions
U/S 80D (Medical Insurance
Premium)***
U/S 80C (Investments upto
Rs.1,00,000)***

360,000
90,000
15,000
9,600
2,500
242,900
- Such as Bank Interest, Interest paid on housing loan
242,900
Provided the employee takes the Medical Policy u/s
- 80D
Provided the employee invests up to 100000 u/s 80C
60,000 of Incoem Tax Act

Net Total Income

182,900

9,000

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Tax On Income :
Up to Rs.1,50,000

Salary for the month of July 2008

Arindam Das

For Next Rs.1,50,000@10%

For Next Rs.2,00,000@20%
For Balance @30%
Tax
Add: Surcharge @ 10%
Education Cess @3%
Total Tax For 12 Months
Tax Alredy Deducted
Tax For Remaining Months
TDS for this month

DOJ

10-Mar-08

3,290
3,290
99
3,390
3,390
377 Monthly Deduction of TDS

* Bill has to be produced every month

** Bill has to be produced every quarter
*** Bill has to be produced annually

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