Income Tax Calculator 2008-09

Statement Showing details of pay and allowances paid to Mohan Lal Kaushik Lecturer in Comp. Engg.
For the period from 1/4/2008 to 31/03/2009 and authorised deductions admissible U/S 88 of the income tax

Sr.No Month Basic D.P D.A. H.R.A. FMA Con.All. Gross Total G.P.F P.T. GIS PPF LIC I. Tax
1 Mar-08 9100 4550 5597 760 250 100 20357 1000 0 60 0 0 500
2 Apr-08 9100 4550 6416 760 250 100 21176 1000 0 60 0 0 500
3 May-08 9100 4550 6416 760 250 100 21176 1000 0 60 0 0 500
4 Jun-08 9100 4550 6416 760 250 100 21176 1000 0 60 0 0 500
5 Jul-08 9100 4550 6416 1147 250 200 21663 1000 0 60 0 0 0
6 Aug-08 9100 4550 6416 1260 250 200 21776 1000 0 60 0 0 0
7 Sep-08 9100 4550 6416 1260 250 200 21776 1000 0 60 0 0 0
8 Oct-08 9100 4550 7371 1260 250 200 22731 1000 0 60 0 0 0
9 Nov-08 9100 4550 7371 1260 250 200 22731 1000 0 60 0 0 0
10 Dec-08 9100 4550 7371 1260 250 200 22731 1000 0 60 0 0 0
11 Jan-09 17890 5400 3726 4658 500 0 32174 2000 0 60 0 0 0
12 Feb-09 17890 5400 3726 4658 500 0 32174 2000 0 60 0 0 0
13 D.A.arr 0 0 2457 0 0 0 2457
14 D.A.arr 0 0 2985 0 0 0 2985 0 0 0 0 0 0
15 40% Arear 81309 0 0 0 0 0 81309
Total 208089 56300 79100 19803 3500 1600 368392 14000 0 720 0 0 2000

Fill details of Investments and Type Tax Payer Information

Deduction Under 80 C,80CCC & 80CCD
1) Housing Loan Principal 0 H. Loan Interest u/s10 0 Name of the Employee Mohan Lal Kaushik
:
2) G.P.F. 14000 Mediclaim Insurance 80D 0 Designation Lecturer in Comp. Engg.
3) L.I.C. 7149 Expenditure for medical PAN No. ALIPK8751H
treatment for dependent 0
4) G.I.S. 720 relative. u/s 80 DD Fathers Name Jai Bhagwan
5) P.P.F. 0 Interest on educational loan for Date of Birth 1/5/1978
higher education.u/s 80 E 0 For Male type M and for
6) Mutual Fund ELSS 0 Gender M Female type F

7) P.L.I. / U.T.I. 100000 Deduction for handicapped Bank A/C. Number 10421394399
0
8) Educational Fees 0 person u/s 80 U
Total Deduction u/s 80 C 121869 Total Income Tax 10,412
Tax payable/ refundable 8,412 Signature of Employee
Click on Form 16 sheet to see
Form 16

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 exceed
80CCC + 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
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)
Up to 1,80,000 (for women below 65 Yrs) NIL
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**
mployee
 Statement of Taxable Income

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

Inrespect of :- Mohan Lal Kaushik Designation:- Lecturer in Comp. Engg.

PAN NO :- ALIPK8751H M
Fathers Name :- Jai Bhagwan
Date Of Birth :- 1/5/1978
Bank A/C Number :- 10421394399
1 Salary Income (As per Statement) 368392
2 Direct deduction u/s 10
I) Prof Tax 0
ii)Transport Allowance 0
iii)House loan intersest 0
iv)HRA exempted(Whicheaver is less is exempted) 19803
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…………….
19803 19803
TOTAL INCOME-------- Rs. 348589
3 Add any other Income if any Rs…. Rs. 2500
Total Gross Income Rs. 351089
4 Rebate u/s 80
I)G.P.F Rs 14000
ii)P.P.F Rs 0
iii)G.I,S. Rs 720
iv)L.I.C./PLI Rs 7149
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 100000
Pention Plan-II icici. 0
Total( I to iX)Deduction u/s 80 C up to 1 Lack Rs 121869 100000
5 Taxable Income 251089
6 Tax on Taxable income 10109
7 Surcharge if Taxable Income is 10 lakh & Above @ 10% on IT 0
8 Education Case @ 3% of Income Tax Rs 303
9 TOTAL INCOME TAX PAYBLE (6,7,8) Rs 10412
10 INCOME TAX ALREADY DEDUCTED Rs 2000
11 NOW INCOME TAX TO BE DEDUCTED Rs 8412

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

Signature of the Employee

Date 13-Feb-09
Place Faridabad Principal
 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)
Up to 1,80,000 (for women below 65 Yrs) NIL
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**
 Form 16 for FY 2008-09
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
Mohan Lal Kaushik
Lecturer in Comp. Engg.
PAN/GIR NO PAN/GIR NO.
Acknowledgement Nos.og all quarterly Statements of TDS under sub sec (3) of
section 200 as provided by TIN facilation Centre or NSDL web site. ALIPK8751H
Address Lecturer in Comp. Engg PERIOD
Assesment Year
Govt Polytechnic for Women, Faridabad From To

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

DETAILS OF SALARY PAID AND ANY OTHER INCOME AND TAX DEDUCTED
1 Gross Salary M
a) Salary as per provision contained in sec. 17(1) Rs. 368,392
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 368,392

2 Less: Allowance to the extent exempt u/s10

b) Interest on Home Loan Rs. 0
c) H.R.A. Rs. 19803
d) Rs. 0
e) Rs. 0
3 Balance ( 1-2 ) Rs. 348,589
4 Deductions:
a) Conveniance allowance Rs. 0
b)Tax on Employment Rs. 0
5 Aggregate of 4(a) & 4 ( b ) Rs. 0

6 Income chargeable under the head 'Salaries' (3-5) Rs. 348,589

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. 2500
c) Total of (a) + (b) Rs. 2500

8 Gross Total Income ( 6+7 ) Rs. 351,089

9 Deduction under Chapter VI-A
Gross Amt Qualify Amt Ded. Amount
A) Sections 80C,80CCC and 80CCD
(a) Section 80C
(i) Housing Loan Principal Rs. 0 0 0
(ii) G.P.F. Rs. 14,000 14,000 14000
(iii) L.I.C. Rs. 7,149 7,149 7,149
(vi) P.P.F. Rs. 0 0 0
(v) Mutual Fund ELSS Rs. 0 0 0
(vi) P.L.I. / U.T.I. Rs. 100000 100000 100000
(vii) G.I.S. Rs. 720 720 720
(viii) Education Fees Rs. 0 0 0
( b)Section 80CCC 0 0 0

14546948.xls 02/13/2009
 ( 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. 121,869 121,869 100,000

11 Total Taxable Income ( 8 - 10 ) Rs. 251,089

12 Tax on Total Income Rs. 10,109

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. 303
15 Tax payable on Total Income (12+13+14) Rs. 10,412
16 Relief under section 89 ( attach details ) Rs. 0

17 Tax Payable ( 15 - 16) 10,412

18 Less: (a) Tax deduted at source u/s 192(1) Rs 2,000
(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. 8,412

DETAILS OF TAX DEDUCTED AND DEPOSITED INTO CENTRAL GOVT.ACCOUNT

Total Tax BSR Code Date on Transfer
Surcharge Education Cheque/D
Sr.No. TDS Rs. Deposited of Bank which tax Voucher/
Rs. Cess Rs. D No.
Rs. Branch deposited Challan No.
1 500 - - 500
2 500 - - 500
3 500 - - 500
4 500 - - 500
5 8412 - - 8412

Total 10412

I working in the capacity of Principal do hereby certify

that a sum of Rs.
( Rs. 10412(Ten thousand gour hundred and twelve) has beeen deducted at source and paid to the credit of the central
Govt. . I further certify that information given above is true and correct based on the books of Accounts, document and
available records.
Signature of the Person responsible for deduction of tax.

Place:- Faridabad
Date:- Full Name:-
Designation:-Principal

14546948.xls 02/13/2009