basic salary 960000

dearness 90000
bonus 15000
conveyance 96000
lunch 50000
overtime 40000
leave assistance 240000
unavailable leave 6000
medical allowance 83000
1580000
Loan benefits:100000(10%-6%)*6/12 20000
business income
Gross revenue 240000
business expenditure 90000
interest at benchmarkrate 5000 95000 145000
100000*10%*6/12
less: zakat 30000
taxable income 1550000

employee contribution 110000

Rs.150000 or10% of basic +DA 105000 5000

interest credit to pf 200000

less:interest @16% or 1/3 of basic +DA WHICH IS LOWER 177777.8 22222.22
1722222

tax liability:
tax on Rs.1550000-1200000 350000
tax on Rs.350000 @ 5% 17500

less:rebates on donation 733.871

less:approved pension fund 1129.032

tax liability… 15637.1