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GA55A FOR THE PERIOD FROM 4/1/2019 to 3/31/2020
GPF NO 647805 NAME OF EMPLOYEE PRAVESH KUMAR SHARMA DESIGNATION ACCOUNTANT
Detail of Gross Salary Detail of Deductions
GPF STATE INS. PMF LIC MCA HBA H.F. BILL
Periods Basic D.A. HRA WA HR NET PAY BILL DATE
Total Cont SI Pre. SI INT GP PRIN PRIN MCA TOTAL NO
Pay IT
D.P. CCA Oth LOAN LOAN S. TAX INS INT INT HBA OTH
Mar-19 23930 25605 4786 0 54561 2100 3000 0 535 0 0 0 0 0 7635 46926 2 1-Apr-15
0 240 0 0 0 0 0 2000 0 0 0 0
#NAME? 23930 27041 4786 0 55997 2100 3000 0 535 0 0 0 0 0 7855 48142 55 23-Apr-15
0 240 0 0 0 0 220 2000 0 0 0 0
#NAME? 23930 27041 4786 0 55997 2100 3000 0 565 0 0 0 0 0 7665 48332 110 22-May-15
0 240 0 0 0 0 0 2000 0 0 0 0
#NAME? 23930 27041 4786 0 55997 3300 3000 0 565 0 0 0 0 0 8865 47132 149 24-Jun-15
0 240 0 0 0 0 0 2000 0 0 0 0
#NAME? 24650 27855 4930 0 57675 3300 3000 0 565 0 0 0 0 0 8865 48810 186 27-Jul-15
0 240 0 0 0 0 0 2000 0 0 0 0
#NAME? 24650 27855 4930 0 57675 3300 3000 0 565 0 0 0 0 0 9365 48310 230 24-Aug-15
0 240 0 0 0 0 0 2500 0 0 0 0
#NAME? 24650 29334 4930 0 59154 3300 3000 0 595 0 0 0 0 0 9395 49759 276 23-Sep-15
0 240 0 0 0 0 0 2500 0 0 0 0
#NAME? 24650 29334 4930 0 59154 3300 3000 0 595 0 0 0 0 0 9395 49759 319 23-Oct-15
0 240 0 0 0 0 0 2500 0 0 0 0
#NAME? 24650 29334 4930 0 59154 3300 3000 0 595 0 0 0 0 0 9395 49759
0 240 0 0 0 0 0 2500 0 0 0 0
#NAME? 24650 29334 4930 0 59154 3300 3000 0 595 0 0 0 0 0 9395 49759
0 240 0 0 0 0 0 2500 0 0 0 0
#NAME? 24650 29334 4930 0 59154 3300 3000 0 595 0 0 0 0 0 9395 49759
0 240 0 0 0 0 0 2500 0 0 0 0
#NAME? 24650 29334 4930 0 59154 3300 3000 0 595 0 0 0 0 0 9395 49759
0 240 0 0 0 0 0 2500 0 0 0 0
DA ARREAR FROM (including S.L.arrear, if any)
Jan-March 2015 4308 4308 4308 4308 0 17 17-Apr-15
July-Aug. 2015 2958 2958 2958 2958 0 283 30-Sep-15
SURRENDER LEAVE SALARY & BONUS
S. LEAVE 24768 0 24768 6 1-Apr-15
BONUS 3387 0 3387 336 2-Nov-15
OTHERS
0 0
0 0
Grant. 345708 58584 0 43266 36000 0 6900 0 0 0 0 0
292920 728247 113886 614361
Total 0 2880 0 0 0 0.00 220 27500 0 0 0 0
COUNTANT

TV
TV DATE
NO

84 1-Mar-19

6554 #NAME?

16436 #NAME?

24610 #NAME?

34038 3-Aug-15

40902 #NAME?

49880 #NAME?

60398 2-Nov-15

#NAME?

#NAME?

#NAME?

#NAME?

9966 8-May-15
55322 16-Oct-15

330 7-Apr-15
64177 6-Nov-15
Hint Instruction
Design & Prepaired by Pravesh Kumar Sharma, Accountant, please
call-9460100093 or write mail to praveshbkn@gmail.com for
further query/error/updation/suggestion
Income- General Income-Tax
Tax Calculator
Calculati (including Tax Income-Tax Calculator
I effect/Calculation of
on Section 234A,234B &
(From 234C)
Income-Tax Calculation
Fin. Year and find out Tax
1985-86 Rate/Surcharge/Cess Mini Income-Tax Calculator
to (with showing Rate/Cess
and exemption limit)
onwards Income Tax Rate
i.e. (For Individual i.e. Male/ Income-Tax Rate
2019- Female/Sr.Citizen/Very
20) Sr. Citizen)
<< Please Enable all macros before start the work for proper use
of this sheet>>
II Preparation of Form No 16
Prepration of Form No 16 (both part.. A
& B) … The format of form no 16 is tdscpc.gov.in/en/deductor-ho
desgined according to Fin. Year 2014-
15 & onwards [As per income tax
department instruction, the part A of
formInput
no 16one
will bedata
time download from
relating to
DDO (i.e. Drawing & Distribuation DDO Data
Officer) required for form no 16

( Tax Input required employee data


calculati required for form no 16 Employee Data
on from
F.Y. 1985-
86 to
onwards, Print/View of tax calculation and
performa submit to DDO Statement
designed
in
F.Y. 1985-
86 to
onwards,
performa submit to DDO Statement
designed
in
referenc
e of Print/View of Form No 16 (Both
current F. Part A & Part B ) Form no 16
Y.2014- (however Part A is relevant for
15 & reconcilation/view purpose)
onwards)
As per
Prepare
Blank format Form No 16 notificati
form no 16-directly i.e. without create database
on (CBDT)
12-04-
2019

Form 12BB Form 10-IA

(Calculate Gross Salary, if required..


Otherwise skip this sheet) Gross Salary'

III Preparation of Challan 280 and 281


Prepration of Challan 280 & 281 (in excel format) Please input
required data in "Challan Data" and Print out Challan No
280/281 (no need to input any value in this sheet, take

Challan Data Challan 280 Challan 281

Calculation of Relief u/s 89(1) from F.Y. 1985-86 & onwards (i.e.
IV upto F.Y. 2018-19)
(Please select for sheet "Main" for see how to calculate relief
amt. and what type of data requied)
Main SECTION 89(1) TABLE A FORM 10E

V View/Caculate/Find out various key points


relating to TDS
View TDS Rate
(from F.Y. 2008-09 to onwards)
2019-20 2018-19 2017-18 2016-17

2015-16 2014-15 2013-14 2012-13

2011-12 2010-11 2009-10 2008-09

Find out section wise TDS/TCS


Various
Rate
password required in Tax Matter and Due Dates

VI Useful Income-Tax information (For Fin. Year


2019-20)
Treatment of Income from Different
Sources
Income from Salary Income under House Properties

Income under the CapitalIncome


Gain from Other Sources

Allowances available to different


Deduction
categories
available
of Tax
to different
Payers categories of Tax Payers

Various Penalties & Prosecution


PERIODS
(Fin.OFYear
LIMITATION
2019-20) .. PAN mandatory

Various Return Forms


VI Useful Income-Tax information (For Fin. Year
2018-19)
Allowances available to different
Deduction
categories
available
of Tax
to different
Payers categories of Tax Payers

Various Penalties & Prosecution


PERIODS
(Fin.OFYear
LIMITATION
2018-19) .. PAN mandatory

Various Return Forms

VI Useful Income-Tax information (For Fin. Year


I
2017-18)
Deduction available to different
categories
Allowances of Tax to
available Payers
different
Tax Information (Fin Year 2017-18)
categories
Various of Tax
Penalties Payers
& Prosecution
and Fee, PAN mandatory
VI Calculate/Find out important information/result relating
II to Tax matter

HOUSE RENT ALLOWANCE Basic


REBATE CALUCATION-ANNUAL/MONTHLY
information BASIS
of section 234A,234B and 234C with their tax treatment and calculati

Useful Calcuations (Calculation of Intrest/Maturity value on NSC,Term Deposit & R.D.)


### 1
Important Hints-How to use this sheet
1 Use only unhighlighted cells (i.e. white colour cells) , rest cells are linked with master data. Select proper
condition that is applicable. Please avoid mismatching codition that's are not applicable.
2 All the calcuations are based on selected data, updation/changes options are avaiable whereas more than one
coditions applicable
3 Use required cells, please leave blank cells, if no data for input
4 User may calculate tax since 1985-86 but Form No 16 and Tax Statement is basically designed as per new
instructions applicable from F. Year 2013-14 & onwards
5 As per IT guideline PAN is mandantary, if it not mentioned, tax rate will be 20% higher rate
Type's of calculation may be possible from this sheet (from F. Year 1985-86 & onwards)

1 Prepration of form no 16 (both part ) based on "Employee data" (upto 500 employee)---
[The format of form no 16 is designed according to F.Year 2014-15 & onwards]
Determination of Tax Calculation including tax treatment of section 234B & 234C …" Tax Calculator" and Tax
2 Rate chart for last 34 years

3 Prepration of Challan No 280 & 281 (in excel format)


4 Calculation of Relief u/s 89(1) , including form 10E and Table A
Calculation of HRA rebate, NSC Int.,(From F.Y. 2009-10 to cont.), Advance tax, Intrest payable u/s 234C,234B
5

6 View/find out TDS rate since f.y. 2008-09 & onwards + view various password required for e-return
7 View/find out TCS rate since f.y. 2012-13 & onwards
8 View/find out various information relating to F.Y. 2017-18 to 2019-20
Use only unhighlight cells (i.e. white cells) for correct calculation -->
<<---Other cells are linked with master sheets so no need to fill any data in highlighted cells--->>
ta. Select proper

reas more than one

igned as per new

rate
onwards)

Calculator" and Tax

ayable u/s 234C,234B

r e-return
ted cells--->>
Go to Employee Data Form no 16
DDO(Drawing and Disbursing Officer) DATA FOR FORM NO 16
NAME OF OFFICE SAMPLE OFFICE

TAX A/C & PAN (If have) OF DEDUCTOR TAX A/C (i.e. TAN) JDHO12345E
NUMBER
AUTHORITY FOR SIGNATURE ABCD

QUATERLY STATEMENT BATCH NUMBER 24QI


24QII
24QIII
24QIV
Name of DDO for form no 16 ..(Male/Female) PQR
DDO father name for form no 16 STUV
CIT Address Rajasthan The Commissioner of Income Tax (TDS) New Central Revenue Bu
CIT City Statue Circle, Janpath, Jaipur - 302005
Jaipur
CIT PIN code 302005
AMOUNT ADJUSTED THROUGH 24G FOR FIN. YEAR
Book Identification Number (B
AIN Receipt DDO
(optional Month of TAN Type of Ret. Number serial
filing
to feed) Number

101115 Apr-19 JDHO12345E 24Q


May-19 JDHO12345E 24Q
Jun-19 JDHO12345E 24Q
Jul-19 JDHO12345E 24Q
Aug-19 JDHO12345E 24Q
Sep-19 JDHO12345E 24Q
Oct-19 JDHO12345E 24Q
Nov-19 JDHO12345E 24Q
Dec-19 JDHO12345E 24Q
Jan-20 JDHO12345E 24Q
Feb-20 JDHO12345E 24Q
Mar-20 JDHO12345E 24Q
AMOUNT DEPOSITED THROUGH CHALLAN
(if TDS amount is depoisted into Bank directly through challan no 281)

S.N. BSR CODE OF BANK DATE OF DEPOSITED CHALLAN S.N.

1
2
3
4
5
6
7
8
9
10
11
12
Home

OR FORM NO 16

PAN PANNOTREQD

Male

TDS) New Central Revenue Building,


005

R 2019-20
ook Identification Number (BIN)
Date of TV Status of
matching with
form no 24G

Matched
Matched
Matched
Matched
Matched Click here for clear BIN data
Matched
Matched
Matched
Matched
Matched
Matched
Matched
LAN
gh challan no 281)
Status of
AMT matching with
OLTAS
Matched
Home
Home
DDO Data
Employee Employee Name Desgination
Code/S.N.

1. The data in row no 6 is example, please do not


edit/delete this row, use row no 7 to 555
Statement 2. Please leave cells blanks, if you have no data to input
in particular cells

Financial Year
647805 PRAVESH KUMAR ACCOUNTANT
SHARMA
Gross Salary'
1

Form no 16

Tax Calculator
End line End line
End line End line End line
Home
Form no 16
PAN of employee Employee Tax Category Period for Form No 16
referece
provided by
employer (if
if your cell formatting not any)
o not work properly in row 6,then
ata to input copy cell G6 and paste it & From To
work

A.Y. 2020-21
2019-20
BEPPS1234Q 1234 VERY SENIOR CITIZ 4/1/2019 3/31/2020
BEPPS1234Q 1234 MALE
End line End line End line End line End line
Home
Statement
Status (1)Gross Salary

Salary as per Value of Profits in lieu Total (a+b+c) Reported total


provisons perquisites u/s of salary under amount of salary
contained in sec 17(2) section 17(3) received from
17(1) other employer(s)

2020-21 (a) (b) (c ) (d) (e)

WORKING 5000100 0 0 5000100 101


20000100 50000 20050100

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End line End line End line
End line End line End line
Form no 16
(2) Less : Allowance to the extent exempt under section 10

Travel Death-cum- Commuted Cash equivlent Section Section Any other


concession retirement value of of leave salary 10(13 A) 10(14) Allowances or
or assistance gratuity u/s pension u/s encashment H.R Allow Conv Allow deduction u/s
u/s 10(5) 10(10) 10(10A) u/s 10(10AA) 10

(a) (b) (c) (d) (e) (f) (g)

10 20 30 40 50 60 70
End line End line End line End line End line End line End line
Home
Statement
(3) Balance (4) Deduction u/s 16 & 17

Total amount of Total amount of Standard Entertainm Tax on (5) Total


exemption salary received Deduction -u/s ent Employm amount of
claimed u/s 10 from current 16(ia) Allowance- ent-u/s deduction
[2(a)+2(b)+2©+2(d) employer u/s 16(ii) 16(iii) u/s 16
+2(e)+2(f)+2(g)]

(h) [1(d)-2(h)] (a) (b) (c ) (a+b+c)

280 4999820 50000 0 0 50000


0 20050100 50000 0 0 50000

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End line End line End line End line End line 0
Home
Statement
Form no 16
(6) Income (7) Add : Any other income reported by the employee u/s 192(2B) (8) Total
chargable under amount of
the head other
"Salaries" NSC Bank Intrest (Loss) Intrest Income from Any other income
INTREST on Saving on House pension income reported
Loan Intrest by the
employee

[3+1(e)-5] (a) (b) (c ) (d) (e) sum(a:e)

4949921 1 2 3 4 5 9
20000100 0

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End line End line End line End line End line End line End line
Home
DDO Data
Form no 16
(9) Gross Total (10) Deductions under chapter VI A
Income (Find out Maximum Limit of particular section… go to sheet "Tax Calc
(a) U/S 80 CCE -: Invesment in specified investment plans
Employee State Group Life Accured Tution Repay Hazard
Privided Insurance Insurance Insurance Intrest Fee ment of Fund
Fund(EPF) Premium on NSC HBA

(6+8) (i) (ii) (iii) (iv) (v) (vi) (vii) (viii)

4949930 1 2 3 4 5 6 7 8
20000100

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End line End line End line End line End line End line End End line End line
line
Home
Statement
Form no 16
o sheet "Tax Calculation"
(b) Cont. in
Purchases PPF PLI / IDBI/ICCI BANK Equity Sukanya Any pension fund
of NSC ULIP FD/POST link Samriddhi other (Section
OFFICE FD saving Account ded. u/s 80 CCC)
bond Deposit 80C
Scheme
(ix) (x) (xi) (xii) (xiii) (xiv) (xv) (xvi) Upto 150000

9 10 11 12 13 14 15 16 17
End line End line End line End line End line End End line End line End line
line
Home
Statement DDO Data

(c )Employee Aggregate total of Other sections ( for e.g., 80E, 80G etc. ) under chapter VIA
cont. towards section Employer cont. Additional Investment Medical
new pension 80C,80CCC,80CCD towards new contribution in long term ins.
scheme U/S 80 (u/s 80 CCE) pension scheme towards NPS infrasturture premium
CCD(1) (Upto Rs. 50000 bonds
from F.Y. 15-16)
Upto 150000 (a+b+c) U/S 80 CCD(2) U/S 80 CCD(1B) U/S 80CCF U/S 80D-

18 171 150000 250000 250000 250000


0 0 0 0 0

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End line End line End line End line End line End line
Form no 16

apter VIA
Medical treat. of Spl ded.to the Repayment Intrest paid on Deduction in
dependent guardion of a of loan for HBA(Loan taking respect of interest
handicapped person patient higher after01-04-13 on loan taken for
suff.from education excluding u/s 24B) certain house
Cancer/Aids property
Select Types U/S 80DD- U/S 80DDB- U/S 80E- U/S 80EE U/S 80EEA

Disability 250000 250000 250000 250000 251000


Severe 0 0 0 0 0
disability
End line End line End line End line End line
Home
DDO Data

Deduction in Donation . New Rajiv Exempt Interest income Phy. hand. person or blind
respect of 50% and Gandhi -Intrest earned on Fixed person
purchase of 100% Saving from saving Deposits &
Recurring
electric vehicle Scheme bank Deposits

U/S 80EEB U/S 80G- U/S 80CCG U/S 80TTA U/S 80TTB Select Types U/S 80U-

252000 250000 250000 250000 250000 Disability 250000


0 0 0 0 0 Severe 0
disability
End line End line End line End line End line End line
Home
Form no 16
(11) Total (13) Releif
deduction under under section Tax deducte
chapter VIA 89(1)
Salary month
(Any other
deduction..
Give name) Apr-19 May-19 Jun-19 Jul-19

24QI 24QII
250000 3903171 0 10 20 30 40
0 0 0

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End line #VALUE! 0
Home
DDO Data
Form no 16
Tax deducted through salary
Salary month enchasment based

Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20

24QII 24QIII 24QIV


50 60 70 80 90 100 110 120
0 0 0 0
Home

Summary of 24Q data Data shown on Form No 16

Certificate Last Place Date (date


No. updated (name of on which
24QI 24QII 24QIII 24QIV on (date) place ) DDO sign on
Form NO
16)

(sum of quaterly data)


60 150 240 330 1245 11/18/2019
0 0 0 0

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End line End line End line End line
Home
Statement Form no 16

Tax deposited through challan

Tax amount depoisted into Bank through challan no 281 (i.e. TAN based)
May-19

Nov-19
Aug-19

Dec-19
Sep-19
Apr-19

Oct-19
Jun-19

Jan-20
Jul-19
20 0 0 0 0 0 0 0 0 0
DDO Data
ased)
Mar-20
Feb-20

Form no 16

0 0
Home

Statement
0
INCOME TAX CALCULATION FOR THE Fin. Year 2019-20

TAX CATEGORY MALE NAME OF EMPLOYEE


PAN NO BEPPS1234Q DESIGNATION
1 INCOME FROM SALARY (including all allowance u/s 17.. i.e. NPS emloyer contribution)
(a) Salary as per provisons contained in sec 17(1)
(b) Value of perquisites u/s 17(2)
(c ) Profits in lieu of salary under section 17(3)
(d) Total
(e) Reported total amount of salary received from other employer(s)
2 Less : Allowance to the extent exempt under section 10
(a) Travel concession or assistance u/s 10(5)
(b) Death-cum-retirement gratuity u/s 10(10)
(c ) Commuted value of pension u/s 10(10A)
(d) Cash equivlent of leave salary encashment u/s 10(10AA)
(e) House rent allowance u/s 10(13 A)
(f) Conv Allow under Section 10(14)
(g) Other Allowances exempt u/s 10
(h) Total amount of exemption claimd u/s 10
3 Total amount of salary received from current employer [1(d)-2(h)]
4 Deduction u/s 16 & 17
(a) Standard Deduction -u/s 16(ia)
(b) Entertainment Allowance u/s 16(ii)
(c ) Tax on Employment
5 Total of 4 (a)+ 4(b)
6 Income chargable under the head Salaries [3+1(e)-5]
7 Add : Any other income reported by the employee
(a) NSC INTREST
(b) Bank Intrest on Saving
(c ) (Loss) Intrest on House Loan Intrest

(d) Income from pension

(e) Any other income


8 Total amount of other income reported by the employee
9 GROSS TOTAL INCOME ( 6 + 8 )
10 Deductions under chapter VI A
(a) U/S 80 CCE -: Invesment in specified investment plans
(i) Employee Privided Fund(EPF) Rs. - (ix) Purchases of NSC
(ii) State Insurance Rs. - (x) PPF
(iii) Group Insurance Rs. - (xi) PLI / ULIP

16.18.1.22.5.19.8√97263.0458756048 274 14:10:5611/18/2019


INCOME TAX CALCULATION FOR THE Fin. Year 2019-20

TAX CATEGORY MALE NAME OF EMPLOYEE


PAN NO BEPPS1234Q DESIGNATION
(iv) Life Insurance Premium (xii) IDBI/ICCI
Rs. -
(v) Accured Intrest on NSC Rs. - (xiii) BANK /POST OFFICE FD

(vi) Tution Fee (xiv) Equity link saving bond


Rs. -
(vii) Repayment of HBA (xv) Sukanya Samriddhi
Account Deposit
Rs. - Scheme
(viii) Hazard Fund Rs. - (xvi) Any other ded. u/s 80C
(b) Cont. in pension fund (Section 80 CCC)
(c ) Employee cont. towards new pension scheme U/S 80 CCD(1)
Aggregate total of section 80C,80CCC,80CCD (u/s 80 CCE)

16.18.1.22.5.19.8√97263.0458756048 275 14:10:5611/18/2019


INCOME TAX CALCULATION FOR THE Fin. Year 2019-20

TAX CATEGORY MALE NAME OF EMPLOYEE


PAN NO BEPPS1234Q DESIGNATION
Other sections ( for e.g., 80E, 80G etc. ) under chapter VIA

a. U/S 80 CCD(2) Employer cont. towards new pension scheme


U/S 80 CCD(1B) Additional cont. towards NPS (Upto Rs. 50000 from F.Y. 2015-16)
b. U/S 80CCF Investment in long term infrasturture bonds
c. U/S 80D- Medical ins. premium for himself, spous and childrens & Parents
d. U/S 80DD- Medical treat. of dependent handicapped person
e. U/S 80DDB- Spl ded.to the guardion of a patient suff.from Cancer/Aids
f. U/S 80E- Repayment of loan for higher education
g. U/S 80EE Intrest paid on HBA(Loan taking after01-04-13 excluding u/s 24B)
h. U/S 80EEA- Deduction in respect of interest on loan taken for certain house
property
i. U/S 80EEB- Deduction in respect of purchase of electric vehicle
j. U/S 80G- Donation . 50% and 100%
k. U/S 80CCG New Rajiv Gandhi Saving Scheme
l. U/S 80TTA Interest on deposits in savings account
m. U/S 80TTB Interest income earned on Fixed Deposits & Recurring Deposits
n. U/S 80U- Phy. hand. person or blind person
o. (Any other deduction..Give name)
11 Total deduction under chapter VIA
12 Total Income ( 9-11 ) (Rounded off u/s 288A)
13 Tax Calculation (With adjusting rebate of agriculture income,if any)
14 Less-Relief U/S 87A (From F.Y. 2013-14)
15 Surcharge (if any) ( After allowed Marginal relief Rs. 581188 )
16 Add -Health and Education Cess & 4%
17 Total Tax (13+14+15+16)
18 Releif U/S 89 (1)
19 Net Tax Payable (17-18)
20 Income Tax Deducted

MONTH AMT MONTH AMT MONTH


Apr-19 Rs. - Aug-19 Rs. - Dec-19
May-19 Rs. - Sep-19 Rs. - Jan-20
Jun-19 Rs. - Oct-19 Rs. - Feb-20
Jul-19 Rs. - Nov-19 Rs. - Mar-20
21 Income Tax PAYABLE {Balance [19- 20 ]} (Rounded off)

16.18.1.22.5.19.8√97263.0458756048 276 14:10:5611/18/2019


INCOME TAX CALCULATION FOR THE Fin. Year 2019-20

TAX CATEGORY MALE NAME OF EMPLOYEE


PAN NO BEPPS1234Q DESIGNATION
Place
Date:
18-Nov-19

16.18.1.22.5.19.8√97263.0458756048 277 14:10:5611/18/2019


Employee 1
Code/S.N.

0
0
tion)

Rs. 20,000,100
Rs. 50,000
Rs. -
Rs. 20,050,100
Rs. -

Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
Rs. 20,050,100

Rs. 50,000
Rs. -
Rs. -
Rs. 50,000
Rs. 20,000,100

Rs. -
Rs. -

Rs. -

Rs. -
Rs. -
Rs. -
Rs. 20,000,100

Rs. -
Rs. -
Rs. -

16.18.1.22.5.19.8√97263.0458756048 278 14:10:5611/18/2019


Employee 1
Code/S.N.

0
0
Rs. -
Rs. -

Rs. -

Rs. -
Rs. -
Rs. -
Rs. -
Rs. -

16.18.1.22.5.19.8√97263.0458756048 279 14:10:5611/18/2019


Employee 1
Code/S.N.

0
0
Gross Amount Deductible
Amount

Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. 20,000,100
Rs. 5,812,530
Rs. -
Rs. 871,945
Rs. 267,379

Rs. 6,951,854
Rs. -
Rs. 6,951,854

AMT
Rs. -
Rs. -
Rs. -
Rs. - Rs. -
Rs. 6,951,850

16.18.1.22.5.19.8√97263.0458756048 280 14:10:5611/18/2019


Employee 1
Code/S.N.

0
0

SIGNATURE OF EMPLOYEE

16.18.1.22.5.19.8√97263.0458756048 281 14:10:5611/18/2019


CATEGORY MALE Employee code/ID
FORM 16
[See rule 31(1)(a)]
PART A
Certificate under section 203 of the Income-tax Act,1961 for tax deducted at source Salary
Certificate No. Last updated on
Name and Address of Employer Name and Designation of Employ

PAN of the Employee Reference No.


PAN of Deductor TAN of the Deductor Employee Employer (If ava

CIT (TDS)
Assessment Year Period with the E

Address: From

City: Pin Code


Summary of amount paid/credited and tax deducted at sourcethereon in respect of employe
Receipt Numbers of original quarterly
Amount of Amount of tax
Quarter statements of TDS under sub-section (3) paid/credited deducted (Rs.)
of section 200
Quarter 1
Quarter 2
Quarter 3
Quarter 4
Total (Rs.)

I. DETAILS OF TAX DEDUCTED AND DEPOSITED IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH ADJ

(The deductor to provide payment wise details of tax deducted and deposited with respect to the ded
Tax Deposited in Book identification number (BIN)
respect of the
S. deductee(Rs.)
No. Receipt numbers of Form DDO serial number in Date of transfer voucher
No.24 G Form No 24G (dd/mm/yyyy)

01
02
03
04
05
06
07
08
16.18.1.22.5.19.8√97263.0458756048 282
09
10
11
12
TOTAL Rs. -

16.18.1.22.5.19.8√97263.0458756048 283
Certificate No. TAN of employer Rs. - PAN of employee Rs. -

II. DETAILS OF TAX DEDUCTED AND DEPOSITED IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH
(The deductor to provide payment wise details of tax deducted and deposited with respect to the deduct

Challan identification number (CIN)


Tax Deposited
in respect of
S.No. the Date on which tax deposited Challan Serial
deductee BSR Code of tbe Bank Branch
(Rs.) (dd/mm/yyyy) Number

1
2
3
4
5
6
7
8
9
10
11
12
Total -
Verification
I son of working in
do hearby certif
has been deducte
and paid to the credit of the Central Government. I further certify that the information given above is true a
on the books of account, documents and available records

Place :
Date : (Signature of the person responsible for d

Designation Full Name

16.18.1.22.5.19.8√97263.0458756048 284
Certificate No. TAN of employer Rs. - PAN of employee Rs. -
PART B (Annexure)
Details of Salary Paid and any other income and tax deducted
1 Gross Salary
(a) Salary as per provisons contained in sec 17(1)
Value of perquisites u/s 17(2)
(b)
(as per Form No. 12BA, wherever applicable)
Profits in lieu of salary under section 17(3)
(c )
(as per Form No.12BA, wherever applicable)
(d) Total
(e) Reported total amount of salary received from other employer(s)
2 Less : Allowance to the extent exempt under section 10
(a) Travel concession or assistance u/s 10(5)
(b) Death-cum-retirement gratuity u/s 10(10)
(c ) Commuted value of pension u/s 10(10A)
Cash equivlent of leave salary encashment u/s
(d) 10(10AA)
(e) House rent allowance u/s 10(13 A)
(f) Conv Allow under Section 10(14)
(g) Other Allowances exempt u/s 10
(h) Total amount of exemption claimd u/s 10
Total amount of salary received from current
3 employer [1(d)-2(h)]
4 Less :Deductions under section 16
(a) Standard Deducation (u/s 16ia)
(b) Entertainment Allowance u/s 16(ii)
(c.) Tax on Employment u/s 16(iii)
Total amount of deductions u/s 16
5 [ 4(a)+ (b) + (c )]
6 Income chargable under the head Salaries [3+1(e)-5]
7 Add : Any other income reported by the employee
(a) NSC Intrest
(b) Bank Intrest on Saving
(c ) HBA INTREST (loss)
(d) Income from pension
(e) Any other income
8 Total amount of other income reported by the employee
9 GROSS TOTAL INCOME ( 6 + 8 )
10 Deductions under chapter VI A
A. Sections 80C, 80CCC & 80CCD
a. Section 80 C Gross Amount
i. Genral Provided Fund
ii. State Insurance & Service Tax
iii Group Insurance
iv. Life Insurance Premium
v. Accured Intrest on NSC
16.18.1.22.5.19.8√97263.0458756048 285
vi. Tution Fee
vii Repayment of HBA
viii Hazard Fund
ix Purchases of NSC
x PPF
xi PLI / ULIP
xii IDBI/ICCI

16.18.1.22.5.19.8√97263.0458756048 286
xiii BANK FD/POST OFFICE FD
xiv Equity link saving bond
xv Sukanya Samriddhi Account Deposit Scheme
xvi Any other ded. u/s 80C
b. Section 80 CCC
c. Section 80 CCD (1)
Aggregate total of section 80C,80CCC,80CCD (u/s 80 CCE)
Note : 1. aggregate amount deductible under section 80C shall not exceed one lakh rupees
2. aggregate amount deductible under the three sections,i.e., 80C, 80CCC & 80CCD (1), shall not exceed one lakh fifty thousan

Certificate No. TAN of employer Rs. - PAN of employee Rs. -

Qualifying
B. Other sections ( for e.g., 80E, 80G etc. ) under chapter VIA Gross Amount Amount
a. U/S 80CCD(2) Employer cont. towards new pension scheme
U/S 80 CCD(1B)
Additional cont. towards NPS (Upto Rs. 50000 )from
F.Y. 2015-16)
b. U/S 80CCF Investment in long term infrasturture bonds
Medical ins. premium for himself, spous and childrens
c. U/S 80D- & Parents
d. U/S 80DD- Medical treat. of dependent handicapped person
Spl ded.to the guardion of a patient suff.from
e. U/S 80DDB- Cancer/Aids
f. U/S 80E- Repayment of loan for higher education
Intrest paid on HBA(Loan taking after01-04-13
g. U/S 80EE- excluding u/s 24B)
Deduction in respect of interest on loan taken for
h. U/S 80EEA- certain house property
i. U/S 80EEB- Deduction in respect of purchase of electric vehicle
j. U/S 80G- Donation . 50% and 100%
k. U/S 80CCG- New Rajiv Gandhi Saving Scheme
l. U/S 80TTA- Interest on deposits in savings account
Interest income earned on Saving/ Fixed Deposits &
m. U/S 80TTB- Recurring Deposits
n. U/S 80U- Phy. hand. person or blind person
o. (Any other deduction..Give name)
11 Aggregate of deductible amounts under Chapter VI-A
12 Total Income ( 9 - 11 ) (Rounded off u/s 288A)
13 Tax on total income
14 Rebate under section 87A, if applicable
15 Surcharge,whenever applicable (on tax computed at S.No. 13)
Add -Health and Education Cess & 4%
16
(on tax computed at S.No.13 + surcharge at S.No. 15)
17 Tax payable ( 13+15+16-14 )
18 Less: Releif under section 89 (attach details)
19 Tax Payable ( 17-18 )
Verification
16.18.1.22.5.19.8√97263.0458756048 287
I son of working in
do hearby ce
information given above is true and correct and is based on the books of account, documents ,TDS statements, a
records
Place :
Date : (Signature of the person responsible for d

Designation Full Name

16.18.1.22.5.19.8√97263.0458756048 288
1
FORM 16
[See rule 31(1)(a)]
PART A
e Income-tax Act,1961 for tax deducted at source Salary

Name and Designation of Employee

Employee Reference No. provided by the


Employer (If avaiable)

Period with the Employer

To

nd tax deducted at sourcethereon in respect of employee

Amount of tax
deposited/remitted
(Rs.)

IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH ADJUSTMENT

ails of tax deducted and deposited with respect to the deductee)


Book identification number (BIN)
Status of matching
Date of transfer voucher with Form No.
(dd/mm/yyyy) 24G

16.18.1.22.5.19.8√97263.0458756048 289
16.18.1.22.5.19.8√97263.0458756048 290
A.YEAR Rs. -

D IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH CHALLAN


tails of tax deducted and deposited with respect to the deductee)

Challan identification number (CIN)


Status of matching
Challan Serial with OLTAS
Number

Verification
working in the capacity of
do hearby certify that a sum of
has been deducted at source
further certify that the information given above is true and correct based
rds

(Signature of the person responsible for deduction of tax)

16.18.1.22.5.19.8√97263.0458756048 291
A.YEAR Rs. -
PART B (Annexure)
d and any other income and tax deducted

Deductible
Gross Amount Amount

16.18.1.22.5.19.8√97263.0458756048 292
16.18.1.22.5.19.8√97263.0458756048 293
not exceed one lakh rupees
s,i.e., 80C, 80CCC & 80CCD (1), shall not exceed one lakh fifty thousand rupees

A.YEAR Rs. -

Qualifying Deductible
Amount Amount

Verification
16.18.1.22.5.19.8√97263.0458756048 294
working in the capacity of
do hearby certify that the
ed on the books of account, documents ,TDS statements, and available

(Signature of the person responsible for deduction of tax)

16.18.1.22.5.19.8√97263.0458756048 295
Financial 2018-19 Tax Category MALE Asst.Year 2019-20
Year
Input value for find out Gross Total Income for Financial Year 2018-1
I-Income from Salary
1 Salary as per provisons contained in sec 17(1) {sum of i+ii+iii}
(i) Salary (Basic Pay + Grade Pay+DA+D.P. if any)
(ii) Taxable Allowances
(iii) Employer's contribution in New Pension Scheme(NPS)
2 Value of perquisites u/s 17(2) (as per Form No. 12BA, wherever applicable)
3 Profits in lieu of salary under section 17(3)(as per Form No. 12BB, wherever applicab
4 Less: Allowance to the extent exempt U/s 10 {sum of 4 (i+ii+iii+iv+v)}
(i) House Rent Allowance Select City Type Non Metro
u/s 10(13A) Acutal Amount of HRA Received Rs
HRA Paid Rs
(ii) Transport Allowances Max. Limit Rs. 3200 per month
Rs - Handicapp
(iii) Education Allowances Max. Limit Rs. 100 per month
Rs - One Childe
(iv) Hostel Exp. Allowances Max. Limit Rs. 300 per month
Rs - One Childe
(v) Any Other Exempted Receipts/ Allowances u/s 10(14) Exempt to the extent of exp. incurred
5 Less : Deduction from Salary u/s 16 {sum of 5(i+ii)}
(i) allowed Applicable from F.Y. 2018-19 fo
Standard Deduction -u/s Salaried & Pensioner
16(ia)
(ii) Max. Limit Rs. 5000
Rs - Govt. Emplo
Entertainment
Allowances-u/s 16(ii) Least of (a) Rs 5,000,(b) 1/5th of salary ,(c) Actual received amt.
(iii) Employment Tax / Amt. actually paid during the year is deductible. .. if professional tax is pa
Professional Tax. -u/s employer on behalf of its employee than it is first included in the salary of
16(iii) employee as a perquisite and then same amt. is allowed as deduction.

6 Income Chargeable under head "Salaries" (1+2+3-4-5)


II-Income from House Property
A Income from Self-occupied Property
Interest Paid/Payable on Housing Loan Maximum Loan Amt Admisiable u
1 Interest on Housing Loan
Loan taken purpose Acquisition or construction of the house
Loan taken period On or after 01-04-1999
2 Income from Self-occupied House Property
B Income from Let-out Property
1 Annual Letable Value/Rent Received or Receivable
2 Less: Municipal Taxes Paid during the Year
3 Less:Unrealized Rent
Page 296 of 760
Financial 2018-19 Tax Category MALE Asst.Year 2019-20
Year
4 Net Annual Value (1-(2+3))
5 Less: Deductions from Net Annual Value
(i) Standard Deduction @ 30% of Net Annual Value u/s 24(a)
(ii) Interest on Housing Loan Maximum Loan Amt Admisiable u/s 24(b)

Loan taken purpose Acquisition or construction of the house


Loan taken period On or after 01-04-1999
6 Income from Let-out House Property
C Income from House Property (A+B)

Page 297 of 760


Financial 2018-19 Tax Category MALE Asst.Year 2019-20
Year
III-Income from Other Sources
1 Interest Received from Bank, Post Office (Saving Account)
2 Other Interest Income (FD,RD, Interest on Securities/Debentures/bonds etc.)
3 Rental Income from Furniture, Machinery, Plant or Building etc.
4 Dividend Income (other than exempted u/s 10(34))
5 Family Pension (Received by Legal Heir of Employee) Amt Received
6 Gift Received (if it charged to tax) Amt Received
7 Any other income (if any…)
8 Income under the head "Other Sources" (sum of 1 to 7)
IV-Gross Total Income (I+II+III)
V- Deduction under Chapter VIA & Releif u/s 89(1)
Ded. Section Name of deduction (brief description) Max. Limit (Remarks)
(For F.Y. 2014-15 to 2017-18)
U/S 80 C Invesment in specified investment Upto Rs. 150000 (Maxi. Limit Rs. 150000
plans (from F.Y. 15--16))
U/S 80CCC Payment of premium for annuity plan Upto Rs. 150000 (such amount shall not
of LIC or any other be allowed under section 80C.)
U/S 80 Employee cont. towards new pension Upto Rs. 150000 (Equal to 20% of Salary
CCD(1) scheme but not exceed Rs. 150000)
U/S 80CCE- Note- (the aggregate amount of ded.u/s
TOTAL OF[(80C)+(80CCC)+(80CCD(1))] 80C, 80CCC and Section 80CCD(1) shall not
exceed Rs.1,50,000)
U/S 80 Additional contribution towards NPS Upto Rs. 50000 (Cont. in Atal Pension
CCD(1B) Yojana is also eligible)
U/S 80 Employer cont. towards new pension 10% of Salary (Equal to 10% of Salary
CCD(2) scheme (Pay+D.A.)
U/S 80CCF Investment in long term infrasturture
bonds No limit

U/S 80D- Medical ins. premium for Parents (dependent or not)- Parents (dependent or
himself, spous and Above sixty years not)-Above sixty years
childrens & Parents (only
two condition applied)
Total deduction allowed Rs.
100000 for F.Y. 2018-19
Rs 250,000 Rs 250,000
U/S 80DD- Medical treatment of dependent Maxi. allow limit in case of Severe
handicapped person Severe disability Rs. 125000 disability

U/S 80DDB- Spl ded to the guardion of a patient 40000 (Maximum aggregate allowable
suff.from Cancer/Aids limit)

Page 298 of 760


Financial 2018-19 Tax Category MALE Asst.Year 2019-20
Year
U/S 80E- Repayment of loan for higher
No limit (higher education for self/
education spouse/ his children.)

U/S 80EE Intrest paid on House Building Loan


( excluding u/s 24B) 50000 (loan not to exceed Rs 35 lakhs)

U/S 80EEA Deduction in respect of interest on 150000 Maxi. allowable limit, Applicable
loan taken for certain house property from f.y. 2019-20,)
U/S 80EEB Deduction in respect of purchase of 150000 Maxi. allowable limit, Applicable
electric vehicle from f.y. 2019-20,)
U/S 80G- Donation to certain funds, charitable 100 /50 % or 10 percent of 100%
institutions etc. the Gross Total Income

80GG Deduction in respect of rent paid 60000 (When HRA not received)
U/S 80CCG Investment made under 25000 (50% of Investment & GTI does not
an Equity savings exceed Rs. 12 lakhs)
scheme/ Equity oriented
U/S 80TTA fund 10000 (Maxi. Rs 10,000 or actual interest
Interest on deposits in savings account whichever is lower )
(w.e.f. 2012-13)
U/S 80TTB Interest income earned on Saving/
Fixed Deposits & Recurring Deposits N.A. (Intrrest on FD & Recurring Deposits
(w.e.f. 2018-19) i.e.Banks / Post office schemes)

Page 299 of 760


Financial 2018-19 Tax Category MALE Asst.Year 2019-20
Year
U/S 80U- Physical disability (including blindness) Maxi. allow limit in case of Severe
or mental retardation. Severe disability Rs. 125000 disability

Others
<Any other deduction… not covered in
above list>
Others
<Any other deduction… not covered in
above list>
Total Deduction under Chapter VI-A
Taxable Income
Taxable Income (Round. off)
Tax Due
Surcharge (if any) ( Marginal relief-Not Applicable )
Less-Rebate U/S 87A (From F.Y. 2013-14) , if applicable
Health and Education Cess & 4%
Total Tax Liability
Tax deduction at source (monthwise tax deducted/deposited from salary)
Apr-18 Rs 116,310 Jul-18 Rs - Oct-18 Rs - Jan-19
May-18 Rs 3,581 Aug-18 Rs - Nov-18 Rs - Feb-19
Jun-18 Rs - Sep-18 Rs - Dec-18 Rs - Mar-19
Less-Relief u/s 89(1)… if any
Net Tax payable ( Rupees Seven Hundred FiftyNine Only )
Calculation of Intrest u/s 234A,234B & 234C
Section Content of section
For 234 A Due Date of Filing the Return
Acutal Date of filing the Return /Date completion of assessment u/s 144
For 234B and Due Date (last date of selected F.Year)
234 C Date of Determination of Income U/s 143(1)
Calculation of Intrest u/s 234A
Due Date of return Date of filing return Delay periods (months) Tax due am
31-Jul-20 12-Aug-20 1 Rs
Calculation of intrest due u/s 234B (when intrest due u/s 234C paid after
Due Date of return Date of filing return Delay periods (months) Tax due am
31-Mar-2019 12-Aug-20 17 Rs
Calculaton of Advance tax and Int. u/s 234C
Date upto Adv tax due Act. Tax paid Shortage t
15-Jun-2018 Rs 18,098 Rs 119,891 Rs (
15-Sep-2018 Rs 54,293 Rs 119,891 Rs

Page 300 of 760


Financial 2018-19 Tax Category MALE Asst.Year 2019-20
Year
15-Dec-2018 Rs 90,488 Rs 119,891 Rs
15-Mar-2019 Rs 120,650 Rs 119,891 Rs
31-Mar-2019 Rs 120,650 Rs - Rs
Total Rs 120,650 Rs 119,891 Rs
Interest payable u/s 234A
Interest payable u/s 234B No Advance Tax Liability raised due to to
Interest Payable u/s 234C payable is less than Rs. 10,000 in a ye
Total Interest Payable u/s 234A, 234B & 234C
Total Tax + Interest Payable/ (Refund Due)
Total Tax Due Rupees Seven Hundred FiftyNine O
[User may take decision (tax planning) to what will be total tax liability and effect o
Note- basis of monthwise tax deduction].

Page 301 of 760


Age condition (below 60 years)

ss Total Income for Financial Year 2018-19

7(1) {sum of i+ii+iii} Rs 1,218,205


ny) Rs 1,218,205
Rs -
cheme(NPS) Rs -
No. 12BA, wherever applicable) Rs -
)(as per Form No. 12BB, wherever applicable) Rs -
10 {sum of 4 (i+ii+iii+iv+v)} Rs -
Non Metro City Rs -
Rs -
Rs -
Handicapped Rs -
One Childern Rs -
One Childern Rs -
Exempt to the extent of exp. incurred Rs -
of 5(i+ii)} Rs 40,000
Applicable from F.Y. 2018-19 for Rs 40,000
Salaried & Pensioner
Govt. Employee Rs -
,(b) 1/5th of salary ,(c) Actual received amt.
uring the year is deductible. .. if professional tax is paid by the Rs -
of its employee than it is first included in the salary of the
uisite and then same amt. is allowed as deduction.

(1+2+3-4-5) Rs 1,178,205

Maximum Loan Amt Admisiable u/s 24(b) Rs 200,000

quisition or construction of the house


n or after 01-04-1999 Rs 42,299
y Rs (42,299)

ceivable Rs -
Rs -
Rs -
Page 302 of 760
Age condition (below 60 years)

Rs -

Value u/s 24(a) Rs -


Rs 200,000 Rs -
quisition or construction of the house
n or after 01-04-1999
Rs -
Rs (42,299)

Page 303 of 760


Age condition (below 60 years)

aving Account) Rs 35,797


Securities/Debentures/bonds etc.) Rs -
Plant or Building etc. Rs -
s 10(34)) Rs -
Rs - Rs -
Rs - Rs -
Rs -
Rs 35,797
Rs 1,171,703

Investment amt. Allowed amt.


(Input Value)

Rs 150,000 Rs 150,000

Rs - Rs -

Rs - Rs -

Rs 150,000 Rs 150,000

Rs - Rs -

Rs - Rs -

Rs - Rs -
Rs - Rs -

Rs - Rs -

Rs - Rs -
Page 304 of 760
Age condition (below 60 years)

Rs - Rs -

Rs - Rs -

Rs - Rs -

Rs - Rs -

Rs - Rs -
Rs - Rs -

Rs - Rs -

Rs 200,000 Rs 10,000

Rs 500,000 Rs -

Page 305 of 760


Age condition (below 60 years)

Rs - Rs -

Rs - Rs -

Rs - Rs -
Rs 160,000
Rs 1,011,703
Rs 1,011,700
Rs 116,010
ble ) Rs -
Rs -
Rs 4,640
Rs 120,650
sited from salary)
Rs - Rs 119,891
Rs -
Rs -
Rs -
yNine Only ) Rs 759
ntrest u/s 234A,234B & 234C
Date Condition
31-Jul-20
12-Aug-20 Yes
31-Mar-2019 Yes
12-Aug-20 Yes
on of Intrest u/s 234A
Tax due amt Intrest u/s 234A
Rs 700 Rs 7
when intrest due u/s 234C paid after 31-Mar-2019 )
Tax due amt Intrest u/s 234B
Rs 700 Rs -
ax and Int. u/s 234C Rs 120,650
Shortage tax Int u/s 234C
Rs (101,793) 0
Rs (65,598) 0

Page 306 of 760


Age condition (below 60 years)

Rs (29,403) 0
Rs 759 7
Rs - Rs -
Rs 700 Rs 7
Rs -
No Advance Tax Liability raised due to total tax Rs -
payable is less than Rs. 10,000 in a year Rs -
Rs -
Rs 759
Rupees Seven Hundred FiftyNine Only
what will be total tax liability and effect of section 234A/B/C, on the

Page 307 of 760


Useful Calculation

Calulation of Intrest on National Saving Certificate(NSC)


Particulars NSC (A) NSC (B) * National Savings Certificate (NS
Period Date(dd/mm/yyyy) 4/1/2018 3/15/2016 5 year small savings instrument.
Purchased amt. Amount in Rs. Rs 1,000 Rs 1,000 compounded half-yearly. * Intere
year is liable to tax hence to be in
Relevant Fin. Year Select Fin. Year F. Year 2019-20 F. Year 2019-20
income but the interest is also de
Apply Int. Rate Rate in % 7.60 11.14 reinvested & thus eligible u/s 80C
Accured Intrest Intrest amt in Rs.(Round off) Rs 76 Rs 111 (Chapter VIA)

Calulation of Intrest on Term Deposit (i.e. Compound Interest Calculator)


Principal Amout for Term Deposit Rs 50,000 Annual Yield Rate (in %) 6
Existing Applicable Rate of Interest 6.80% Intrest earned between 23/07/2014 to 23/07/2020 Rs
Term Deposit Start Period 23-Jul-14 Maturity Amount of Term Deposit Rs
Term Deposit End Period 23-Jul-20 Difference between term deposit start_end period In year
Compund Period (Basis of Intrest calculation) Annually In Days

Calulation of Maturity Value of Recurring Deposit


Monthly Installment Amount Rs 5,150 Maturity Amount of Term Deposit (Rounded off value) Rs
Existing Applicable Rate of Interest (in %) 9.00 Total Intrest earned Rs
Compund Period (Basis of Intrest calculation) Monthly
Terms in Months i.e. 120 Months completed year of 120 Mont
Term in Months 120

Calculation Gross/Net/Tax amount as value insert in Input


Select caculation criteria Input Output
Calculate Gross & Net amount from Tax Net Value Net Value Gross Value
Taxable Value
Calculate Gross & Net amount from
Taxable Value 10 1000 11000 10000
Home

ertificate (NSC-VIII issue): Is a


instrument. * Interest is
arly. * Interest accrued every
ence to be included as
st is also deemed to be
gible u/s 80C deduction

1
6.98%
Rs 24,247.74
Rs 74,247.74
In year 6
In Days 2192

Rs 1,004,073
Rs 386,073

120 Months
Home
CATEGORY VERY SENIOR CITIZEN Use this cell for Employee code/ID
Form No 16
FORM 16
[See rule 31(1)(a)]
PART A
Certificate under section 203 of the Income-tax Act,1961 for tax deducted at source Salary
Certificate No. Last updated on
Name and Address of Employer Name and Designation of Employ
ABCD
SAMPLE OFFICE
PQR
PAN of the Employee Reference No.
PAN of Deductor TAN of the Deductor Employee Employer (If ava
PANNOTREQD JDHT12345Q AEPPS1234Q 9964
CIT (TDS)
Assessment Year Period with the E

Address: From
2020-21
01/04/2019 31
City: Pin Code
Summary of amount paid/credited and tax deducted at sourcethereon in respect of employe
Receipt Numbers of original quarterly
Amount of Amount of tax
Quarter statements of TDS under sub-section (3) paid/credited deducted (Rs.)
of section 200
Quarter 1 Rs. - Rs -
Quarter 2 Rs. - Rs -
Quarter 3 Rs. - Rs -
Quarter 4 Rs. - Rs -
Total (Rs.) Rs. - Rs. -

I. DETAILS OF TAX DEDUCTED AND DEPOSITED IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH ADJ

(The deductor to provide payment wise details of tax deducted and deposited with respect to the ded
Tax Deposited in Book identification number (BIN)
respect of the
S. deductee(Rs.)
No. Receipt numbers of Form DDO serial number in Date of transfer voucher
No.24 G Form No 24G (dd/mm/yyyy)

01 Rs -
02 Rs -
03 Rs -
04 Rs -
05 Rs -
06 Rs -
07 Rs -
08 Rs -

16.18.1.22.5.19.8√97263.0458756048 313
09 Rs -
10 Rs -
11 Rs -
12 Rs -
TOTAL Rs. -

16.18.1.22.5.19.8√97263.0458756048 314
Certificate No. TAN of employer JDHT12345Q PAN of employee AEPPS1234Q

II. DETAILS OF TAX DEDUCTED AND DEPOSITED IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH
(The deductor to provide payment wise details of tax deducted and deposited with respect to the deduct

Challan identification number (CIN)


Tax Deposited
in respect of
S.No. the Date on which tax deposited Challan Serial
deductee BSR Code of tbe Bank Branch
(Rs.) (dd/mm/yyyy) Number

1 Rs -
2 Rs -
3 Rs -
4 Rs -
5 Rs -
6 Rs -
7 Rs -
8 Rs -
9 Rs -
10 Rs -
11 Rs -
12 Rs -
Total -
Verification
I MNPQ son of STUV working in
TR OFFICER do hearby certif
NIL 0 has been deducte
and paid to the credit of the Central Government. I further certify that the information given above is true a
on the books of account, documents and available records

Place :
Date : (Signature of the person responsible for d

Designation Full Name MNPQ


TR OFFICER

16.18.1.22.5.19.8√97263.0458756048 315
Certificate No. TAN of employer JDHT12345Q PAN of employee AEPPS1234Q
PART B (Annexure)
Details of Salary Paid and any other income and tax deducted
1 Gross Salary
(a) Salary as per provisons contained in sec 17(1) Rs. 4,500,000
Value of perquisites u/s 17(2) Rs. -
(b)
(as per Form No. 12BA, wherever applicable)
Profits in lieu of salary under section 17(3) Rs. -
(c )
(as per Form No.12BA, wherever applicable)
(d) Total Rs. 4,500,000
(e) Reported total amount of salary received from other employer(s) Rs. -
2 Less : Allowance to the extent exempt under section 10
(a) Travel concession or assistance u/s 10(5) Rs -
(b) Death-cum-retirement gratuity u/s 10(10) Rs -
(c ) Commuted value of pension u/s 10(10A) Rs -
Cash equivlent of leave salary encashment u/s
(d) 10(10AA)
Rs -
(e) House rent allowance u/s 10(13 A) Rs -
(f) Conv Allow under Section 10(14) Rs -
(g) Other Allowances exempt u/s 10 Rs -
(h) Total amount of exemption claimd u/s 10 Rs. -
3 Total amount of salary received from current Rs. 4,500,000
employer [1(d)-2(h)]
4 Less :Deductions under section 16
(a) Standard Deducation (u/s 16ia) Rs. 40,000
(b) Entertainment Allowance u/s 16(ii) Rs -
(c.) Tax on Employment u/s 16(iii) Rs -
Total amount of deductions u/s 16
5 [ 4(a)+ (b) + (c )]
Rs. 40,000
6 Income chargable under the head Salaries [3+1(e)-5]
7 Add : Any other income reported by the employee
(a) NSC Intrest Rs -
(b) Bank Intrest on Saving Rs -
(c ) HBA INTREST (loss) Rs -
(d) Income from pension Rs -
(e) Any other income Rs -
8 Total amount of other income reported by the employee Rs -
9 GROSS TOTAL INCOME ( 6 + 8 )
10 Deductions under chapter VI A
A. Sections 80C, 80CCC & 80CCD
a. Section 80 C Gross Amount
i. Genral Provided Fund Rs -
ii. State Insurance & Service Tax Rs -
iii Group Insurance Rs -
iv. Life Insurance Premium Rs -
v. Accured Intrest on NSC Rs -
vi. Tution Fee Rs -
16.18.1.22.5.19.8√97263.0458756048 316
vii Repayment of HBA Rs -
viii Hazard Fund Rs -
ix Purchases of NSC Rs -
x PPF Rs -
xi PLI / ULIP Rs -
xii IDBI/ICCI Rs -

16.18.1.22.5.19.8√97263.0458756048 317
xiii BANK FD/POST OFFICE FD Rs -
xiv Equity link saving bond Rs -
xv Sukanya Samriddhi Account Deposit Scheme Rs -
xvi Any other ded. u/s 80C Rs -
b. Section 80 CCC Rs -
c. Section 80 CCD (1) Rs -
Aggregate total of section 80C,80CCC,80CCD (u/s 80 CCE) Rs -
Note : 1. aggregate amount deductible under section 80C shall not exceed one lakh rupees
2. aggregate amount deductible under the three sections,i.e., 80C, 80CCC & 80CCD (1), shall not exceed one lakh fifty thousan

Certificate No. TAN of employer JDHT12345Q PAN of employee AEPPS1234Q

Qualifying
B. Other sections ( for e.g., 80E, 80G etc. ) under chapter VIA Gross Amount
Amount
a. U/S 80CCD(2) Employer cont. towards new pension scheme Rs. 250,000 Rs. 250,000
U/S 80 CCD(1B)
Additional cont. towards NPS (Upto Rs. 50000 )from
F.Y. 2015-16) Rs. 250,000 Rs. 250,000
b. U/S 80CCF Investment in long term infrasturture bonds Rs. 250,000 Rs. 250,000
Medical ins. premium for himself, spous and childrens Rs. 250,000 Rs. 250,000
c. U/S 80D-
& Parents
d. U/S 80DD- Medical treat. of dependent handicapped person Rs. 250,000 Rs. 250,000
Spl ded.to the guardion of a patient suff.from Rs. 250,000 Rs. 250,000
e. U/S 80DDB-
Cancer/Aids
f. U/S 80E- Repayment of loan for higher education Rs. 250,000 Rs. 250,000
Intrest paid on HBA(Loan taking after01-04-13 Rs. 250,000 Rs. 250,000
g. U/S 80EE- excluding u/s 24B)
Deduction in respect of interest on loan taken for Rs. 250,000 Rs. 250,000
h. U/S 80EEA- certain house property
i. U/S 80EEB- Deduction in respect of purchase of electric vehicle Rs. 250,000 Rs. 250,000
j. U/S 80G- Donation . 50% and 100% Rs. 250,000 Rs. 250,000
k. U/S 80CCG- New Rajiv Gandhi Saving Scheme Rs. 250,000 Rs. 250,000
l. U/S 80TTA- Interest on deposits in savings account Rs. - Rs. -
Interest income earned on Saving/ Fixed Deposits & Rs. - Rs. -
m. U/S 80TTB- Recurring Deposits
n. U/S 80U- Phy. hand. person or blind person Rs. 250,000 Rs. 250,000
o. (Any other deduction..Give name) Rs. 250,000 Rs. 250,000
11 Aggregate of deductible amounts under Chapter VI-A
12 Total Income ( 9 - 11 ) (Rounded off u/s 288A)
13 Tax on total income
14 Rebate under section 87A, if applicable
Surcharge,whenever applicable (on
15 tax computed at S.No. 13)
Education Cess @2% on Tax+H.Education Cess @1%
16
(on tax computed at S.No.13 + surcharge at S.No. 15)
17 Tax payable ( 13+15+16-14 )
18 Less: Releif under section 89 (attach details)
19 Tax Payable ( 17-18 )

16.18.1.22.5.19.8√97263.0458756048 318
Verification

I MNPQ son of STUV working in


TR OFFICER do hearby ce
information given above is true and correct and is based on the books of account, documents ,TDS statements, a
records
Place :
Date : (Signature of the person responsible for d

Designation TR OFFICER Full Name MNPQ

16.18.1.22.5.19.8√97263.0458756048 319
1
FORM 16
[See rule 31(1)(a)]
PART A
e Income-tax Act,1961 for tax deducted at source Salary

Name and Designation of Employee


ABCD
PQR
Employee Reference No. provided by the
Employer (If avaiable)

9964

Period with the Employer

To

31/03/2020

nd tax deducted at sourcethereon in respect of employee

Amount of tax
deposited/remitted
(Rs.)

Rs. -
Rs. -
Rs. -
Rs. -
Rs. -

IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH ADJUSTMENT

ails of tax deducted and deposited with respect to the deductee)


Book identification number (BIN)
Status of matching
Date of transfer voucher with Form No.
(dd/mm/yyyy) 24G

16.18.1.22.5.19.8√97263.0458756048 320
16.18.1.22.5.19.8√97263.0458756048 321
A.YEAR 2020-21

D IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH CHALLAN


tails of tax deducted and deposited with respect to the deductee)

Challan identification number (CIN)


Status of matching
Challan Serial with OLTAS
Number

Verification
working in the capacity of
do hearby certify that a sum of
has been deducted at source
further certify that the information given above is true and correct based
rds

(Signature of the person responsible for deduction of tax)

MNPQ

16.18.1.22.5.19.8√97263.0458756048 322
A.YEAR 2020-21
PART B (Annexure)
d and any other income and tax deducted

Rs. 4,500,000
Rs. -

Rs. 4,500,000

Rs. 4,460,000

Rs -
Rs. 4,460,000

Deductible
Gross Amount Amount
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
16.18.1.22.5.19.8√97263.0458756048 323
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -

16.18.1.22.5.19.8√97263.0458756048 324
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
not exceed one lakh rupees
s,i.e., 80C, 80CCC & 80CCD (1), shall not exceed one lakh fifty thousand rupees

A.YEAR 2020-21

Qualifying Deductible
Amount Amount
Rs. 250,000 Rs. 250,000
Rs. 250,000 Rs. 50,000
Rs. 250,000 Rs. 250,000
Rs. 250,000 Rs. 100,000

Rs. 250,000 Rs. 125,000


Rs. 250,000 Rs. 40,000

Rs. 250,000 Rs. 250,000


Rs. 250,000 Rs. 50,000

Rs. 250,000 Rs. 150,000

Rs. 250,000 Rs. 150,000


Rs. 250,000 Rs. 250,000
Rs. 250,000 Rs. -
Rs. - Rs. -
Rs. - Rs. -

Rs. 250,000 Rs. 125,000


Rs. 250,000 Rs. 250,000
Rs. 2,040,000
Rs. 2,420,000
Rs. 526,000
Rs. -
Rs. -

Rs. 21,040

Rs. 547,040
Rs. -
Rs. 547,040

16.18.1.22.5.19.8√97263.0458756048 325
Verification

working in the capacity of


do hearby certify that the
ed on the books of account, documents ,TDS statements, and available

(Signature of the person responsible for deduction of tax)

MNPQ

16.18.1.22.5.19.8√97263.0458756048 326
CATEGORY VERY SENIOR CITIZEN Employee code/ID
FORM 16
[See rule 31(1)(a)]
PART A
Certificate under section 203 of the Income-tax Act,1961 for tax deducted at source Salary
Certificate No. 1245 Last updated on
Name and Address of Employer Name and Designation of Employ
PRAVESH KUMAR SHARMA
SAMPLE OFFICE
ACCOUNTANT
PAN of the Employee Reference No.
PAN of Deductor TAN of the Deductor Employee Employer (If ava
PANNOTREQD JDHO12345E BEPPS1234Q 1234
CIT (TDS)
The Commissioner of Income Tax (TDS) New
Assessment Year Period with the Em
Central Revenue Building, Statue Circle, Janpath,
Address: Jaipur - 302005 From
2020-21
01/04/2019 31
City: Jaipur Pin Code 302005
Summary of amount paid/credited and tax deducted at sourcethereon in respect of employe
Receipt Numbers of original quarterly
Amount of Amount of tax
Quarter statements of TDS under sub-section (3) paid/credited deducted (Rs.)
of section 200
Quarter 1 Rs. - Rs 60
Quarter 2 Rs. - Rs 150
Quarter 3 Rs. - Rs 240
Quarter 4 Rs. - Rs 330
Total (Rs.) Rs. - Rs. 780

I. DETAILS OF TAX DEDUCTED AND DEPOSITED IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH ADJ

(The deductor to provide payment wise details of tax deducted and deposited with respect to the ded
Tax Deposited in Book identification number (BIN)
respect of the
S. deductee(Rs.)
No. Receipt numbers of Form DDO serial number in Date of transfer voucher
No.24 G Form No 24G (dd/mm/yyyy)

01 Rs 10 0 0
02 Rs 20 0 0
03 Rs 30 0 0
04 Rs 40 0 0
05 Rs 50 0 0
06 Rs 60 0 0
07 Rs 70 0 0
08 Rs 80 0 0

16.18.1.22.5.19.8√97263.0458756048 327
09 Rs 90 0 0
10 Rs 100 0 0
11 Rs 110 0 0
12 Rs 120 0 0
TOTAL Rs. 780

16.18.1.22.5.19.8√97263.0458756048 328
Certificate No. 1245 TAN of employer JDHO12345E PAN of employee BEPPS1234Q

II. DETAILS OF TAX DEDUCTED AND DEPOSITED IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH
(The deductor to provide payment wise details of tax deducted and deposited with respect to the deduct

Challan identification number (CIN)


Tax Deposited
S.No. in respect of Date on which tax deposited Challan Serial
the deductee BSR Code of tbe Bank Branch
(Rs.) (dd/mm/yyyy) Number

1 Rs 20 0
2 Rs - 0
3 Rs - 0
4 Rs - 0
5 Rs - 0
6 Rs - 0
7 Rs - 0
8 Rs - 0
9 Rs - 0
10 Rs - 0
11 Rs - 0
12 Rs - 0
Total 20
Verification
I PQR son of STUV working in t
ABCD do hearby certif
Rs. 800 Rupees Eight Hundred Only has been deducted
and paid to the credit of the Central Government. I further certify that the information given above is true and
the books of account, documents and available records

Place :
Date : 11/18/2019 (Signature of the person responsible for d

Designation Full Name PQR


ABCD

16.18.1.22.5.19.8√97263.0458756048 329
Certificate No. 1245 TAN of employer JDHO12345E PAN of employee BEPPS1234Q
PART B (Annexure)
Details of Salary Paid and any other income and tax deducted
1 Gross Salary
(a) Salary as per provisons contained in sec 17(1) Rs. 5,000,100
Value of perquisites u/s 17(2) Rs. -
(b)
(as per Form No. 12BA, wherever applicable)
Profits in lieu of salary under section 17(3) Rs. -
(c )
(as per Form No.12BA, wherever applicable)
(d) Total Rs. 5,000,100
(e) Reported total amount of salary received from other employer(s) Rs. 101
2 Less : Allowance to the extent exempt under section 10
(a) Travel concession or assistance u/s 10(5) Rs 10
(b) Death-cum-retirement gratuity u/s 10(10) Rs 20
(c ) Commuted value of pension u/s 10(10A) Rs 30
Cash equivlent of leave salary encashment u/s
(d) 10(10AA)
Rs 40
(e) House rent allowance u/s 10(13 A) Rs 50
(f) Conv Allow under Section 10(14) Rs 60
(g) Other Allowances exempt u/s 10 Rs 70
(h) Total amount of exemption claimd u/s 10 Rs. 280
3 Total amount of salary received from current Rs. 4,999,820
employer [1(d)-2(h)]
4 Less :Deductions under section 16
(a) Standard Deducation (u/s 16ia) Rs 50,000
(b) Entertainment Allowance u/s 16(ii) Rs -
(c.) Tax on Employment u/s 16(iii) Rs -
Total amount of deductions u/s 16
5 [ 4(a)+ (b) + (c )]
Rs. 50,000
6 Income chargable under the head Salaries [3+1(e)-5]
7 Add : Any other income reported by the employee
(a) NSC Intrest Rs 1
(b) Bank Intrest on Saving Rs 2
(c ) HBA INTREST (loss) Rs (3)
(d) Income from pension Rs 4
(e) Any other income Rs 5
8 Total amount of other income reported by the employee Rs 9
9 GROSS TOTAL INCOME ( 6 + 8 )
10 Deductions under chapter VI A
A. Sections 80C, 80CCC & 80CCD
a. Section 80 C Gross Amount
i. Genral Provided Fund Rs 1
ii. State Insurance & Service Tax Rs 2
iii Group Insurance Rs 3
iv. Life Insurance Premium Rs 4
v. Accured Intrest on NSC Rs 5

16.18.1.22.5.19.8√97263.0458756048 330
vi. Tution Fee Rs 6
vii Repayment of HBA Rs 7
viii Hazard Fund Rs 8
ix Purchases of NSC Rs 9
x PPF Rs 10
xi PLI / ULIP Rs 11
xii IDBI/ICCI Rs 12

16.18.1.22.5.19.8√97263.0458756048 331
xiii BANK FD/POST OFFICE FD Rs 13
xiv Equity link saving bond Rs 14
xv Sukanya Samriddhi Account Deposit Scheme Rs 15
xvi Any other ded. u/s 80C Rs 16
b. Section 80 CCC Rs 17
c. Section 80 CCD (1) Rs 18
Aggregate total of section 80C,80CCC,80CCD (u/s 80 CCE) Rs 171
Note : 1. aggregate amount deductible under section 80C shall not exceed one lakh rupees
2. aggregate amount deductible under the three sections,i.e., 80C, 80CCC & 80CCD (1), shall not exceed one lakh fifty thousan

Certificate No. 1245 TAN of employer JDHO12345E PAN of employee BEPPS1234Q

Qualifying
B. Other sections ( for e.g., 80E, 80G etc. ) under chapter VIA Gross Amount Amount
a. U/S 80CCD(2) Employer cont. towards new pension scheme Rs. 150,000 Rs. 150,000
U/S 80 CCD(1B)
Additional cont. towards NPS
(Upto Rs. 50000 )from F.Y. 2015-16) Rs. 250,000 Rs. 250,000
b. U/S 80CCF Investment in long term infrasturture bonds Rs. 250,000 Rs. 250,000
c. U/S 80D- Medical ins. premium for himself, spous and
childrens & Parents Rs. 250,000 Rs. 250,000
d. U/S 80DD- Medical treat. of dependent handicapped person Rs. 250,000 Rs. 250,000
Spl ded.to the guardion of a patient suff.from
e. U/S 80DDB- Cancer/Aids Rs. 250,000 Rs. 250,000
f. U/S 80E- Repayment of loan for higher education Rs. 250,000 Rs. 250,000
Intrest paid on HBA(Loan taking after 01-04-13
g. U/S 80EE- excluding u/s 24B) Rs. 250,000 Rs. 250,000
Deduction in respect of interest on loan taken for
h. U/S 80EEA- certain house property Rs. 251,000 Rs. 251,000
i. U/S 80EEB- Deduction in respect of purchase of electric vehicle
Rs. 252,000 Rs. 252,000
j. U/S 80G- Donation . 50% and 100% Rs. 250,000 Rs. 250,000
k. U/S 80CCG- New Rajiv Gandhi Saving Scheme Rs. 250,000 Rs. 250,000
l. U/S 80TTA- Interest on deposits in savings account Rs. 250,000 Rs. 250,000
Interest income earned on Saving/ Fixed Deposits &
m. U/S 80TTB- Recurring Deposits Rs. 250,000 Rs. 250,000
n. U/S 80U- Phy. hand. person or blind person Rs. 250,000 Rs. 250,000
o. (Any other deduction..Give name) Rs. 250,000 Rs. 250,000
11 Aggregate of deductible amounts under Chapter VI-A
12 Total Income ( 9 - 11 ) (Rounded off u/s 288A)
13 Tax on total income
14 Rebate under section 87A, if applicable
Surcharge,whenever applicable (on
15
tax computed at S.No. 13)
Health and Education Cess & 4%
16
(on tax computed at S.No.13 + surcharge at S.No. 15)
17 Tax payable ( 13+15+16-14 )
18 Less: Releif under section 89 (attach details)

16.18.1.22.5.19.8√97263.0458756048 332
19 Tax Payable ( 17-18 )
Verification

I PQR son of STUV working in t


ABCD do hearby ce
information given above is true and correct and is based on the books of account, documents ,TDS statements, a
records
Place :
Date : 11/18/2019 (Signature of the person responsible for d

Designation ABCD Full Name PQR

16.18.1.22.5.19.8√97263.0458756048 333
647805
FORM 16
[See rule 31(1)(a)]
PART A
e Income-tax Act,1961 for tax deducted at source Salary

Name and Designation of Employee


PRAVESH KUMAR SHARMA
ACCOUNTANT
Employee Reference No. provided by the
Employer (If avaiable)

1234

Period with the Employer

To

31/03/2020

nd tax deducted at sourcethereon in respect of employee

Amount of tax
deposited/remitted
(Rs.)

Rs. 60
Rs. 150
Rs. 240
Rs. 330
Rs. 780

IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH ADJUSTMENT

ails of tax deducted and deposited with respect to the deductee)


Book identification number (BIN)
Status of matching
Date of transfer voucher with Form No. 24G
(dd/mm/yyyy)

Matched
Matched
Matched
Matched
Matched
Matched
Matched
Matched

16.18.1.22.5.19.8√97263.0458756048 334
Matched
Matched
Matched
Matched

16.18.1.22.5.19.8√97263.0458756048 335
A.YEAR 2020-21

D IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH CHALLAN


tails of tax deducted and deposited with respect to the deductee)

Challan identification number (CIN)


Status of matching
Challan Serial with OLTAS
Number

0
0
0
0
0
0
0
0
0
0
0
0

Verification
working in the capacity of
do hearby certify that a sum of
has been deducted at source
urther certify that the information given above is true and correct based on

(Signature of the person responsible for deduction of tax)

PQR

16.18.1.22.5.19.8√97263.0458756048 336
A.YEAR 2020-21
PART B (Annexure)
d and any other income and tax deducted

Rs. 5,000,100
Rs. 101

Rs. 4,999,820

Rs. 4,949,921

Rs 9
Rs. 4,949,930

Deductible Amount
Gross Amount
Rs 1 Rs 1
Rs 2 Rs 2
Rs 3 Rs 3
Rs 4 Rs 4
Rs 5 Rs 5

16.18.1.22.5.19.8√97263.0458756048 337
Rs 6 Rs 6
Rs 7 Rs 7
Rs 8 Rs 8
Rs 9 Rs 9
Rs 10 Rs 10
Rs 11 Rs 11
Rs 12 Rs 12

16.18.1.22.5.19.8√97263.0458756048 338
Rs 13 Rs 13
Rs 14 Rs 14
Rs 15 Rs 15
Rs 16 Rs 16
Rs 17 Rs 17
Rs 18 Rs 18
Rs 171 Rs 171
not exceed one lakh rupees
s,i.e., 80C, 80CCC & 80CCD (1), shall not exceed one lakh fifty thousand rupees

A.YEAR 2020-21
Qualifying Deductible Amount
Amount
Rs. 150,000 Rs. 150,000

Rs. 50,000
Rs. 250,000
Rs. 250,000 Rs. 250,000

Rs. 100,000
Rs. 250,000
Rs. 250,000 Rs. 75,000

Rs. 40,000
Rs. 250,000
Rs. 250,000 Rs. 250,000

Rs. 50,000
Rs. 250,000
Rs. 150,000
Rs. 251,000
Rs. 150,000
Rs. 252,000
Rs. 250,000 Rs. 250,000
Rs. 250,000 Rs. -
Rs. 250,000 Rs. -

Rs. 50,000
Rs. 250,000
Rs. 250,000 Rs. 75,000
Rs. 250,000 Rs. 250,000
Rs. 1,890,171
Rs. 3,059,760
Rs. 717,928
Rs. -
Rs. -

Rs. 28,717

Rs. 746,645
Rs. -

16.18.1.22.5.19.8√97263.0458756048 339
Rs. 746,645
Verification

working in the capacity of


do hearby certify that the
ed on the books of account, documents ,TDS statements, and available

(Signature of the person responsible for deduction of tax)

PQR

16.18.1.22.5.19.8√97263.0458756048 340
Treatment_of_Income_from_Different_Sources Home

V. Income from Other Sources


Any income which is not chargeable to tax under any other heads of income and which is not to be excluded from the total income shall be
chargeable to tax as residuary income under the head “Income from Other Sources”.

A Basis of Charge [Sec. 56]:


Income chargeable to tax under the head “Income from other sources” shall include following:
S. No. Nature of income taxable as residuary income
1 Dividends
Note: Dividend received from domestic company shall be exempt from tax under Section 10(34) if it is chargeable to dividend
distribution tax under Section 115-O. However, as per section 115BBDA (as inserted by Finance Act, 2016), in the case
of resident individual/HUF/firm, dividend shall be chargeable to tax at the rate of 10% if aggregate amount of dividend
received during the year exceeds Rs. 10,00,000.

2 Income by way of winnings from lotteries, crossword puzzles, races including horse races, card games, gambling or betting of any form
or nature whatsoever
3 Any sum received by an employer from his employees as contribution towards PF/ESI/ Superannuation Fund etc., if same is not
deposited in the relevant fund and it is not taxable under the head ‘Profits and Gains from Business or Profession’.
4 Interest on securities, if not taxable under the head ‘Profits and Gains of Business or Profession’
5 Income from machinery, plant or furniture belonging to taxpayer and let on hire, if income is not chargeable to tax under the head
‘Profits and Gains of Business or Profession’
6 Composite rental income from letting of plant, machinery or furniture with buildings, where such letting is inseparable and such
income is not taxable under the head ‘Profits and Gains of Business or Profession’
7 Any sum received under Keyman Insurance Policy (including bonus), if not taxable under the head ‘Profits and Gains of Business or
Profession’ or under the head ‘Salaries’
8 In the following cases, any sum of money or property received by an individual or HUF from any person (except from relatives or
member of HUF or in given circumstances, see note 1) shall be taxable under the head ‘Income from other sources’:
8 In the following cases, any sum of money or property received by an individual or HUF from any person (except from relatives or
member of HUF or in given circumstances, see note 1) shall be taxable under the head ‘Income from other sources’:

a) If any sum is received without consideration in excess of Rs. 50,000 during the previous year, the whole amount shall be chargeable to
tax;
b) If an immovable property is received without consideration and the stamp duty value exceeds Rs. 50,000, the stamp duty value of
such property shall be chargeable to tax;
c) If immovable property is received for consideration which is less than the stamp duty value of property by higher of following amount
the difference is chargeable to tax:
(i) the amount of Rs. 50,000
(ii) the amount equal to 5% of consideration.
d) If movable properties* is received without consideration and the aggregate fair market value of such properties exceeds Rs. 50,000,
the whole of aggregate fair market value of such properties shall be chargeable to tax

e) If movable properties is received for consideration which is less than the aggregate fair market value of properties by an amount
exceeding Rs. 50,000, the difference between the aggregate fair market value and the consideration is chargeable to tax.

9 If shares in a closely held company are received by a firm or another closely held company from any person without consideration or
for inadequate consideration, the aggregate fair market value of such shares as reduced by the consideration paid, if any, shall be
chargeable to tax.

Note: Nothing would be chargeable to tax if taxable amount doesn’t exceed Rs. 50,000.
10 If a closely held public company receives any consideration for issue of shares which exceed the fair market value of such shares, the
aggregate consideration received for such shares as reduced by its fair market value shall be chargeable to tax.

Note: This provision is not applicable in the following cases:


a) Where the consideration for issue of shares is received by a venture capital undertaking from a venture capital company or venture
capital fund.
b) Where the consideration for issue of shares is received by company from class or classes of person as notified by the Government.

10A. Any compensation received by a person in connection with the termination of his employment or modification of terms and
conditions relating thereto.
10A. Any compensation received by a person in connection with the termination of his employment or modification of terms and
conditions relating thereto.
11 Interest received on compensation or enhanced compensation
12 Any sum of money received as an advance or otherwise in the course of negotiations for transfer of a capital asset shall be charged to
tax under this head, if:

a) Such sum is forfeited; and


b) The negotiations do not result in transfer of such capital asset.
* ‘Movable property’ shall include shares, securities, jewellery, archaeological collection, drawings, paintings, sculptures, any work of
art or bullion etc.

B Gifts not chargeable to tax [Sec. 56(2)(vii)]


Any sum of money or property received by any person [on or after 01-04-2017] in the following circumstances shall not be chargeable to tax:

a) Gifts received from relatives;


b) Gifts received by an individual on occasion of his/her marriage;
c) Gifts received by way of Inheritance/will;;
d) Gifts received in contemplation of death of the payer;
e) Gifts received from any local authority;
f) Gifts received from any fund, foundation, university, educational institution, hospital, medical institution, any trust or institution
referred to in Section 10(23C);
g) Gifts received from any trust or institution registered under section 12A/12AA.
h) Share received as a consequences of demerger or amalgamation of a company under clause (vid) or clause (vii) of section 47,
respectively.
i) Share received as a consequences of business reorganization of a co-operative bank under section 47(vicb)
** ‘Relative’ shall mean:
1 Spouse of the individual
2 Brother or sister of the individual
3 Brother or sister of the spouse of the individual
4 Brother or sister of either of the parents of the individual
5 Any lineal ascendant or descendant of the individual
6 Any lineal ascendant or descendant of spouse of the individual
7 Spouse of the person referred in point 2-6 above
C Deductions [Sec. 57]:
The following expenditures are allowed as deductions from income chargeable to tax under the head ‘Income from Other Sources’:
S.N. Section Nature of Income Deductions allowed
1 57(i) Dividend or Interest on securities Any reasonable sum paid by way of commission or
remuneration to banker or any other person for purpose of
realizing dividend (other than dividends referred to
in section 115-O) or interest on securities

2 57(ia) Employee’s contribution towards Provident Fund, If employees’ contribution is credited to their account in
Superannuation Fund, ESI Fund or any other fund setup for relevant fund on or before the due date
the welfare of such employees

3 57(ii) Rental income letting of plant, machinery, furniture or Rent, rates, taxes, repairs, insurance and depreciation etc.
building

4 57(iia) Family Pension 1/3rd of family pension subject to maximum of Rs. 15,000.

5 57(iii) Any other income Any other expenditure (not being capital expenditure)
expended wholly and exclusively for earning such income

6 57 (iv) Interest on compensation or enhanced compensation 50% of such interest (subject to certain conditions)

7 58(4)Proviso Income from activity of owning and maintaining race All expenditure relating to such activity.
horses.
D Expenses not deductible [Section 58]:
S.N. Section Nature of Income
1 58(1)(a)(i) Personal expenses to tax which is payable outside India on which tax has not been paid or deducted at
Interest chargeable
2 58(1)(a)(ii) source
3 58(1)(a)(iii) ‘Salaries’ payable outside India on which no tax is paid or deducted at source
4 58(1A) Wealth-tax
5 58(2) Expenditure
Expenditure of the nature specified in section
in connection with winnings from40A
lotteries, crossword puzzles, races, games, gambling or
6 58(4) betting
Treatment_of_Income_from_Different_Sources Home

IV. Income under the Capital Gains


A Chargeability:
Capital gains shall be chargeable to tax if following conditions are satisfied:
a) There should be a capital asset. In other words, the asset transferred should be a capital asset on the date of transfer;
b) It should be transferred by the taxpayer during the previous year;
c) There should be profits or gain as a result of transfer.
B Meaning of Capital Asset [Sec 2(14)]
Capital Asset is defined to include:
a) Any kind of property held by an assessee, whether or not connected with business or profession of the assessee.
b) Any securities held by a FII which has invested in such securities in accordance with the regulations made under the SEBI Act, 1992.
However, the term ‘capital asset’ shall exclude the following:
a) Stock-in-trade, consumable stores, raw materials held for the purpose of business or profession;
b) Movable property held for personal use of taxpayer or for any member of his family dependent upon him. However, jewellery, costly
stones, and ornaments made of silver, gold, platinum or any other precious metal, archaeological collections, drawings, paintings,
sculptures or any work of art shall be considered as capital asset even if used for personal purposes;

c) Specified Gold Bonds and Special Bearer Bonds;


d) Agricultural Land in India, not being a land situated:
a. Within jurisdiction of municipality, notified area committee, town area committee, cantonment board and which has a
population not less than 10,000;
b. Within range of following distance measured aerially from the local limits of any municipality or cantonment board:

i. not being more than 2 KMs, if population of such area is more than 10,000 but not exceeding 1 lakh;
ii. not being more than 6 KMs , if population of such area is more than 1 lakh but not exceeding 10 lakhs; or
iii. not being more than 8 KMs , if population of such area is more than 10 lakhs.
e) Deposit certificates issued under the Gold Monetisation Scheme, 2015
C Type of Capital Assets
(A) Short Term Capital Asset (B). Long Term Capital Asset
Capital asset held for not more than 36 months immediately prior to the date of transfer shall be Capital Asset that held for more than 36 months or 24
deemed as short-term capital asset. However, following assets held for not more than 12 months shall months or 12 months, as the case may be, immediately
be treated as short-term capital assets: preceding the date of transfer is treated as long-term
capital asset.
a) Equity or preference shares in a company which are listed in any recognized stock exchange
in India;
b) Other listed securities;
c) Units of UTI;
d) Units of equity oriented funds; or
e) Zero Coupon Bonds.
Note: Unlisted shares and immovable property (being land or building or both) held for not more
than 24 months immediately prior to the date of transfer shall be treated as short-term
capital asset.

D Period of Holding
The period of holding shall be determined as follows:
Different situations How to calculate the period of holding
Shares held in a company in liquidation The period subsequent to the date on which the company goes into liquidation shall be
excluded.
Capital asset which becomes the property of the assessee in the The period for which the asset was held by the previous owner should be included (cost
circumstances mentioned in section 49(1) read with section 47 [i.e., acquisition in this case shall be computed in the manner provided in Para 4.10)
when an asset is acquired by gift, will, succession, inheritance or the
asset is required at the time of partition of family or under a revocable
or irrevocable trust or under amalgamation, etc.]

Allotment of shares in amalgamated Indian company in lieu shares held The period of holding shall be computed from the date of acquisition of shares in the
in amalgamating company amalgamating company.
Right shares The period of holding shall be computed from the date of allotment of right shares.

Right entitlement The period of holding will be considered from the date of offer to subscribe to shares to
the date when such right entitlement is renounced by the person.
Bonus shares The period of holding shall be computed from the date of allotment of bonus shares.

Issue of shares by the resulting company in a scheme of demerger to The period of holding shall be computed from the date of acquisition of shares in the
the shareholders of the demerged company demerged company.

Membership right held by a member of recognised stock exchange In case of shares as well as trading/clearing rights, the period for which the person was a
member of the stock exchange immediately prior to such demutualization/corporatizati
shall be included.
Flat in a co-operative society The period of holding shall be computed from the date of allotment of shares in the
society.

Sweat equity shares allotted by employer The period of holding shall be reckoned from the date of allotment or transfer of such
equity shares (applicable from the assessment year 2008-09)

Unit of a business trust [allotted pursuant to transfer of shares as The period of holding shall include the period for which shares were held by the assesse
referred to in section 47(xvii)]

Conversion of preference shares into equity shares The period of holding of equity shares shall include the period for which preference shar
were held by the assessee

Units allotted to an assessee pursuant to consolidation of two or more The period of holding of such units shall include the period for which the unit or units in
scheme of a mutual fund as referred to in Section 47(xviii) the consolidating scheme of the mutual fund were held by the assessee.

Shares in a company acquired by the non-resident assessee on The period of holding of such shares shall be reckoned from the date on which a request
redemption of Global Depository Receipts referred to in Section for such redemption was made.
115AC(1)(b)

Transactions in shares and securities not given above:


1) Date of purchase (through stock exchanges) of shares and a) Date of purchase by broker on behalf of investor.
Securities

2) Date of transfer (through stock exchanges) of shares and b) Date of broker's note provided such transactions are followed up by
securities delivery of shares and also the transfer deeds.
2) Date of transfer (through stock exchanges) of shares and b) Date of broker's note provided such transactions are followed up by
securities delivery of shares and also the transfer deeds.

3) Date of purchase/transfer of shares and securities c) Date of contract of sale as declared by parties provided it is followed up
(transaction taken place directly between parties and not actual delivery of shares and the transfer deeds.
through stock exchanges)
4) Date of purchase/sale of shares and securities purchased d) The FIFO method shall be adopted to reckon the period of the holding o
in several lots at different points of time but delivery taken the security, in cases where the dates of purchase and sale cannot be
subsequently and sold in parts correlated through specific number of scrips.

5) Transfer of a security by a depository (i.e., demat account) e) The period of holding shall be determined on the basis of the first-in-firs
out method.
Conversion of stock-in-trade into capital asset The period of holding of such converted asset shall be reckoned from the date of
conversion.
E Meaning of Transfer [Section 2(47)]
"Transfer”, in relation to a capital asset, includes:
(i) Sale, exchange or relinquishment of the asset;
(ii) Extinguishment of any rights in relation to a capital asset;
(iii) Compulsory acquisition of an asset;
(iv) Conversion of capital asset into stock-in-trade;
(v) Maturity or redemption of a zero coupon bond;
(vi) Allowing possession of immovable properties to the buyer in part performance of the contract;
(vii) Any transaction which has the effect of transferring an (or enabling the enjoyment of) immovable property; or
(viii) Disposing of or parting with an asset or any interest therein or creating any interest in any asset in any manner whatsoever.
F Transactions which are not regarded as transfer [Section 47]
Following transactions shall not be regarded as transfer (subject to certain condition). Hence, following transaction shall not be charged to capital gains:

Section Particulars
46(1) Distribution of asset in kind by a company to its shareholders at the time of liquidation
47(i) Distribution of capital asset on total or partial partition of HUF
47(iii) Transfer of capital asset under a gift or will or an irrevocable trust
Transfer of capital asset by a company to its wholly owned subsidiary company
47(iv)
Transfer of a capital asset by a wholly owned subsidiary company to its holding company
47(v)
Transfer of capital assets in a scheme of amalgamation
47(vi)
47(via) Transfer of shares in an Indian company held by a foreign company to another foreign company under a scheme of amalgamation of the two foreign
companies

47(viab) Transfer of share of a foreign company (which derives, directly or indirectly, its value substantially from the share or shares of an Indian company) h
by a foreign company to another foreign company under a scheme of amalgamation (subject to conditions)

Transfer of capital assets in a scheme of amalgamation of a banking company with a banking institution
47(viaa)
Transfer of capital assets by the demerged company to the resulting company in a demerger
47(vib)
Transfer of shares held in an Indian company by a demerged foreign company to the resulting foreign company
47(vic)
Any transfer of a capital asset by the predecessor co-operative bank to the successor co-operative bank in a business reorganization.
47(vica)
47(vicb) Any transfer of capital asset (being shares) held by a shareholder in the predecessor co-operative bank if the transfer is made in consideration of the
allotment to him of any shares in the successor co-operative bank in a scheme of business reorganization

47(vicc) Transfer of share of a foreign company (which derives, directly or indirectly, its value substantially from the share or shares of an Indian company) h
by a demerged foreign company to resulting foreign company in case of demerger (subject to conditions)

Transfer or issue of shares by the resulting company to the shareholders of the demerged company in a scheme of demerger
47(vid)
Allotment of shares in amalgamated company in lieu of shares held in amalgamating company
47(vii)
Transfer of capital assets (being foreign currency convertible bonds or GDR) by a non-resident to another non-resident
47(viia)
47(viiaa) Any transfer made outside India, of a capital asset (being rupee denominated bond of an Indian company issued outside India) by a non-resident to
another non-resident

47(viiab) Any transfer of following capital assets by a non-resident on a recognised stock exchange located in any International Financial Services Centre:

a) Bond or GDR
b) Rupee Denominated Bond of an Indian Co.
c) Derivative
47(viib) Transfer of capital assets (being a Government security carrying periodic payment of interest) outside India through an intermediary dealing in
settlement of securities by a non-resident to another non- resident

47(viic) Redemption of capital asset being sovereign gold bond issued by RBI under the Sovereign Gold Bond Scheme, 2015
47(ix) Transfer of a capital asset (being work of art, manuscript, painting, etc.) to Government, University, National museum, etc.
47(x) Transfer by way of conversion of bonds or debentures into shares
47(xa) Transfer by way of conversion of bonds [as referred to in section 115AC(1)(a)] into shares or debentures of any company
47(xb) Any transfer by way of conversion of preference shares into equity shares
47(xi) Transfer by way of exchange of a capital asset being membership of a recognized stock exchange for shares of a company
47(xii) Transfer of land by a sick industrial company which is managed by its workers’ co-operative
47(xiii) Transfer of a capital asset by a firm to a company in the case of conversion of firm into company
47(xiiia)Transfer of a capital asset being a membership right held by a member of a recognized stock exchange in India
Transfer of a capital asset by a private company or unlisted public company to an LLP, or any transfer of shares held in the company by a shareholder
47(xiiib) in the case of conversion of company into LLP
47(xiv) Transfer of a capital asset to a company in the case of conversion of proprietary concern into a company
47(xv) Transfer involved in a scheme of lending of securities
47(xvi) Transfer of a capital asset in a transaction of reverse mortgage made under a scheme notified by the Government
Transfer of a capital asset (being share of a special purpose vehicle) to a business trust in exchange of units allotted by that trust to the transferor
47(xvii)
Transfer of units of a mutual fund pursuant to consolidation of two or more schemes of equity oriented mutual fund or of two or more schemes of a
47(xviii) mutual fund other than equity oriented mutual fund
47(xix) Transfer of units of a mutual fund from one plan to another pursuant to consolidation of plans within scheme of mutual funds.
G Computation of capital Gain:
Computation of capital gain depends upon the nature of the capital asset transferred during the previous year, vis-à-vis, short-term capital asset, long-term capit
asset or depreciable asset. Capital gain arising on transfer of short-term capital asset or depreciable asset is considered as short-term capital gain, whereas trans
of long-term capital asset gives rise to long-term capital gain.

The capital gains on transfer of capital asset shall be computed in the following manner:
Short-term capital assets Long-term capital assets Depreciable asset
[Section 48] [Section 48] [Section 50]*
Full value of consideration Full value of consideration WDV of block of asset at the beginning of previous year
Less: Cost of acquisition of asset Less: Indexed Cost of acquisition Add: Actual cost of assets falling within that block acquired during the
(See Note 1) year
Less: Cost of acquisition of asset Less: Indexed Cost of acquisition Add: Actual cost of assets falling within that block acquired during the
(See Note 1) year
Less: Cost of improvement Less: Indexed Cost of Improvement Less: Full value of consideration of assets transferred during the year
(See Note 1)
Less: Expenditure incurred wholly and Less: Expenditure incurred wholly and Less: Expenditure incurred wholly and exclusively in connection with suc
exclusively in connection with such exclusively in connection with such transfer transfer
transfer
Note 1: * Short-term capital gain or loss from sale of depreciable asset will arise
Indexed Cost of Acquisition and Improvement only in the following two situations:
[Second Proviso to Section 48]
a) When on last day of the previous year, WDV of the bloc
a) In case of transfer of long-term of asset is nil; or
capital assets, indexed cost of
acquisition and indexed cost of
improvement shall be b) When on last day of the previous year, block ceases to
deducted from the full value of exist.
consideration;

b) Indexed cost of acquisition and


Indexed cost of improvement
shall be computed with
reference to Cost Inflation
Index (‘CII’) in the following
manner:

: [(Cost of Acquisition) × (CII for the year of transfer)]


Indexed Cost of Acquisition =
(CII for the year of acquisition or for the Financial Year 2001-02, whichever is later)

: [(Cost of Improvement) × (CII for the year of transfer)]


Indexed Cost of Improvement =
CII for the year of Improvement
Note : The base year for computation of capital gains has been shifted from 1981 to 2001 with effect from assessment year 2018-19. Thus, if any capital ass
(acquired before April 1, 2001) is transfered then assessee has an option to take its cost of acquisition either as fair market value as on April 1, 2001
its actual cost.

However, there are some cases where benefit of indexation is not available, which are as under:
Section Capital Asset Transferor
Third Proviso to Section Long-term capital gains arising from transfer of an equity share, or a unit of Any Person
48 an equity oriented fund or a unit of a business trust as referred to in Section
112A.
Fourth proviso to Bonds or debentures. Any person
section 48 Note: However, indexation benefit is available on two type of bonds,
namely,-
• Capital indexed bonds (issued by the Government)
• Sovereign Gold Bond (issued by the RBI under the Sovereign
Gold Bond Scheme, 2015)
112 Capital gains arising from transfer of unlisted shares (which is taxable at Non-resident
concessional rate of 10%) as calculated without giving effect to first proviso
to Section 48
44AE Presumptive income from business of plying, hiring or leasing of goods For Heavy Goods Vehicle:
carriage if assessee does not own more than 10 goods carriage. Rs. 1,000 per ton of gross vehicle weight for every mont
or part of a month during which the heavy goods vehicl
is owned by assessee.
For Other Goods Vehicle:
Rs. 7,500 for every month or part of a month during wh
the goods carriage is owned by assessee.
50A Depreciable asset (other than an asset used by a power generating unit Any person
eligible for depreciation on straight line basis)
50B Undertaking/division transferred by way of slump sale as covered by section Any person
50B
115AB Units purchased in foreign currency as given in section 115AB Offshore fund
Global depository receipts (GDR) purchased in foreign currency as given Non-resident
115AC in section 115AC
Global depository receipts (GDR) purchased in foreign currency as given Resident individual - employee
115ACA in section 115ACA
115AD Securities as given in section 115AD Foreign Institutional Investors
CII in relation to a previous year means such index, as Central Government notifies on year to year basis. The Central Government has notified the following Cos
Inflation Indexes
Financial Cost Inflation Index Financial year Cost Inflation Index
year
2001-02 100 2010-11 167
2002-03 105 2011-12 184
2003-04 109 2012-13 200
2004-05 113 2013-14 220
2005-06 117 2014-15 240
2006-07 122 2015-16 254
2007-08 129 2016-17 264
2008-09 137 2017-18 272
2009-10 148 2018-19 280
H Computation of capital gain in case of sale of shares or debentures of an Indian company purchased by a non-resident in foreig
currency [ first proviso to section 48]
In such a case, capital gain shall be determined as under:-
Full Value of Consideration (X) Find out sale consideration in Indian currency and convert it into same foreign currency, which was used to acquire the
capital asset, at average exchange rate* on the date of transfer.
Cost of acquisition (Y) Find out the cost of acquisition in Indian currency and convert it into foreign currency at average exchange rate on the da
of acquisition.
Expenditure on sale (Z) Find out the expenditure on transfer in Indian currency and convert it into same foreign currency at average exchange rat
on the date of transfer (not on the date when expenditure is incurred).
Capital gain (X-Y-Z) The capital gains as computed in after reducing the cost of acquisition and expenditure from the full value of consideratio
shall be reconverted into Indian currency at buying rate** on the date of transfer.

* Average exchange rate means the average of the telegraphic transfer buying rate and telegraphic transfer selling rate of the foreign currency initially utilised in
the purchase of capital asset.
** Buying rate is the telegraphic transfer buying rate of such currency.

I Full Value of Consideration


Full value of consideration is the consideration received or receivable by the transferor in lieu of assets, which he has transferred. Such consideration may be
received in cash or in kind. If it is received in kind, then fair market value (‘FMV’) of such assets shall be taken as full value of consideration.

However, in the following cases “full value of the consideration” shall be determined on notional basis as per the relevant provisions of the Income-tax Act, 1961
However, in the following cases “full value of the consideration” shall be determined on notional basis as per the relevant provisions of the Income-tax Act, 1961

S. No. Nature of transaction Section Full Value of Consideration


1 Money or other asset received under any insurance from 45(1A) Value of money or the FMV of the asset (on the date of receipt)
an insurer due to damage or destruction of a capital asset
2 Conversion of capital asset into stock-in-trade 45(2) FMV of the capital asset on the date of conversion
3 Transfer of capital asset by a partner or member to firm or 45(3) Amount recorded in the books of accounts of the firm or AOP/BOI as the
AOP/BOI, as the case may be, as his capital contribution value of the capital asset received as capital contribution

4 Distribution of capital asset by Firm or AOP/BOI to its 45(4) FMV of such asset on the date of transfer
partners or members, as the case may be, on its
dissolution
5 Money or other assets received by share- holders at the 46(2) Total money plus FMV of assets received on the date of
time of liquidation of the company distribution less amount assessed as deemed dividend undersection 2(2
(c)
6 Buy-back of shares and other specified securities by a 46A Consideration paid by company on buyback of shares or other securities
company would be deemed as full value of consideration. The difference between
the cost of acquisition and buy-back price (full value of consideration)
would be taxed as capital gain in the hands of the shareholder.

Note: if shares are not listed on a recognized stock exchange, domestic


companies would liable to pay additional tax at 20% under section
115QA on the distributed income (i.e. buy-back price as reduced by the
amount received by the company for issue of such shares)

7 Shares, debentures, warrants (‘securities’) allotted by an Fourth Proviso Fair Market value of securities at the time of gift
employer to an employee under notified Employees Stock toSection 48
Option Scheme and such securities are gifted by the
concerned employee to any person

7A. Conversion of capital asset into stock-in-trade 49 FMV of the inventory as on the date of conversion

8 In case of transfer of land or building, if sale consideration 50C The value adopted or assessed or assessable by the Stamp Valuation
declared in the conveyance deed is less than the stamp Authority shall be deemed to be the full value of consideration. Howeve
duty value no such adjustment is required to be made if value adopted for stamp
duty purposes does not exceed 105% of the sale consideration.
8 In case of transfer of land or building, if sale consideration 50C The value adopted or assessed or assessable by the Stamp Valuation
declared in the conveyance deed is less than the stamp Authority shall be deemed to be the full value of consideration. Howeve
duty value no such adjustment is required to be made if value adopted for stamp
duty purposes does not exceed 105% of the sale consideration.

8A. Where consideration for transfer of unquoted shares is less 50CA The Fair Market Value (so determined in prescribed manner) shall be
than the Fair Market Value deemed to be the full value of consideration

9 If consideration received or accruing as a result of transfer 50D FMV of asset on the date of transfer (applicable from the assessment ye
of a capital asset is not ascertainable or cannot be 2013-14)
determined
J Cost of Acquisition
Cost of acquisition of an asset is the amount for which it was originally acquired by the assessee. It includes expenses of capital nature incurred in connection wi
such purchase or for completing the title of the property.
However, in cases given below, cost of acquisition shall be computed on notional basis:
S. No. Particulars Notional Cost of Acquisition
1 Additional compensation in the case of compulsory Nil
acquisition of capital assets
2 Assets received by a shareholder on liquidation of the FMV of such asset on the date of distribution of assets to the shareholders
company
3 Stock or shares becomes property of taxpayer on Cost of acquisition of such stock or shares from which such asset is derived
consolidation, conversion, etc.
4 Allotment of shares in an amalgamated Indian co. to the Cost of acquisition of shares in the amalgamating co.
shareholders of amalgamating co. in a scheme of
amalgamation
5 Conversion of debentures into shares That part of the cost of debentures in relation to which such asset is acquired by the
assessee
5A. Conversion of preference shares into equity shares The part of the cost of preference shares in relation to which such asset is acquired by th
assessee.
6 Allotment of shares/securities by a co. to its employees a) If shares are allotted during 1999-2000 or on or after April 1, 2009, FMV
under ESOP Scheme approved by the Central Government securities on the date of exercise of option
b) If shares are allotted before April 1, 2007 (not being during 1999-2000),
the amount actually paid to acquire the securities

c) If shares are allotted on or after April 1, 2007 but before April 1, 2009,
FMV of securities on the date of vesting of option (purchase price paid t
the employer or FBT paid to employer shall not be considered)

6A. Listed Equity Shares or Units of Equity Oriented Funds or Higher of :


Units of Business Trust as referred to in Section (i) Cost of acquisition of such asset; and
112A acquired before February 1, 2018.
(ii) Lower of:
(A) The fair market value of such asset; and
(B) The full value of consideration received or accruing as a result of transfe
of such asset.
Note: For meaning of 'Fair market Value' refer Explanation to Section 55(2)(ac

7 Property covered by section 56(2)(vii) or (viia) or (x) The value which has been considered for the purpose of Section 56(2)(vii) or (viia) or (x)

8 Allotment of shares in Indian resulting company to the Cost of acquisition of shares in demerged company ? Net book value of assets transferre
existing shareholders of the demerger company in a in demerger ? Net worth of the demerged company immediately before demerger
scheme of demerger
9 Cost of acquisition of original shares in demerged company Cost of acquisition of such shares minus amount calculated above in point 8.
after demerger
10 Cost of acquisition of assets acquired by successor LLP Cost of acquisition of the assets to the predecessor private company or unlisted public
from predecessor private company or unlisted public company
company at the time of conversion of the company into
LLP in compliance with conditions of Section 47(xiiib)

11 Cost of acquisition of rights of a partner in a LLP which Cost of acquisition of the shares in the co. immediately before conversion
became the property of the taxpayer due to conversion of
a private company or unlisted public company into the LLP

12 Depreciable assets covered under Section 50 Opening WDV of block of assets on the first day of the previous year plus actual cost of
assets acquired during the year which fall within the same block of assets
13 Depreciable assets of a power generating unit as covered WDV of the asset minus terminal depreciation plus balancing charge
under Section 50A*
14 Undertaking/division acquired by way of slump sale as Net worth of such undertaking
covered under section 50B
15 New asset acquired for claiming exemptions under Actual cost of acquisition minus exemption claimed under these sections
sections 54, 54B, 54D, 54G or 54GA if it is transferred
within three years
16 Goodwill of business or trade mark or brand name a) If these assets were acquired by gift, will, etc., under section 49(1) and the previous
associated with business or right to manufacture, produce owner had purchased these assets: Cost of acquisition to the previous owner
or process any article or thing or right to carry on any
business or profession, tenancy right, stage permits or
loom hours b) If the owner has purchased these assets: Actual cost of acquisition
c) If these assets are self-generated: Nil
17 Right shares Amount actually paid by assessee
18 Right to subscribe to shares (i.e., right entitlement) Nil
19 Bonus shares a) If allotted to the assessee before April 1, 1981: Fair market value on that date
b) In any other case: Nil
20 Allotment of equity shares and right to trade in stock a) Cost of acquisition of shares: Cost of acquisition of original membership of the stock
exchange, allotted to members of stock exchange under a exchange
scheme of demutualization or corporatization of stock
exchanges as approved by SEBI
b) Cost of acquisition of trading or clearing rights of the stock exchange: Nil

21 Capital asset, being a unit of business trust, acquired in Cost of acquisition of shares as referred to in section 47(xvii) [applicable from AY 2015-1
consideration of transfer as referred to in section 47(xvii)

: Units allotted to an assessee pursuant to consolidation of Cost of acquisition of such units shall be the cost of acquisition of units in the
two or more scheme of a mutual fund as referred to in consolidating scheme of the mutual fund
Section 47(xviii)

: Shares in a company acquired by the non-resident assessee Cost of acquisition of such shares shall be calculated on the basis of the price prevailing
on redemption of Global Depository Receipts referred to in any recognized stock exchange on the date on which a request for such redemption was
Section 115AC(1)(b) made.
24 Any other capital asset: a) If it became property of taxpayer before April 1, 2001 by gift, will, etc., in modes
specified insection 49(1): Cost of acquisition to the previous owner or FMV as on April 1
2001, whichever is higher
b) If it became property of taxpayer before April 1, 2001 : Cost of acquisition or FMV as
on April 1, 2001, whichever is more
c) If it became property of taxpayer after April 1, 2001 by gift, will, etc., in modes
specified insection 49(1): Cost of acquisition to the previous owner
d) If it became property of taxpayer after April 1, 2001 : Actual cost of acquisition
* Terminal Depreciation/Balancing Charge:
a) Balancing Charge = Sales Consideration - WDV of the depreciable asset

b) Terminal Depreciation = WDV - Sales Consideration


: When a depreciable asset (which was subject to depreciation on straight line basis) of a power generating units is sold, discarded, demolished or
destroyed then terminal depreciation shall be deductible from sale consideration while computing capital gains, or balancing charge is taxable in the
relevant year, as the case may be.

K Cost to the Previous Owner [sec. 49(1)]

Cost to the previous owner shall be deemed to be the cost of acquisition in the hands of the taxpayer in cases where a capital asset becomes the property of the
assessee under any of the modes given below:
a) On any distribution of assets on the total or partial partition of a HUF
b) Under a Gift or Will;
c) By Succession, Inheritance or Devolution;
d) On any distribution of assets on dissolution of a firm, BOI or AOP (where such dissolution had taken place at any time before the 01-04-1987);

e) On any distribution of assets on liquidation of a company;


f) Under a transfer to a revocable or an irrevocable trust;
g) On any transfer by a holding company to its wholly owned Indian subsidiary company;
h) On any transfer by a wholly owned subsidiary company to its Indian holding company;
i) On any transfer by the amalgamating company to the Indian amalgamated company;
j) In a scheme of amalgamation, any transfer of shares held in a Indian company by a amalgamating foreign company to the amalgamated Foreign
company;
indirectly, its value substantially from the share or shares of an Indian company held by amalgamating foreign company to the amalgamated foreign
k) company.
l) Consequent to transfer of capital asset by the demerged company to the resulting Indian company. (in case of demerger)
m)
Consequent to transfer of share (in case of demerger as referred to in Section 47(vic) of a foreign company which derives, directly or indirectly, its
value substantially from the share or shares of an Indian company held by a demerged foreign company to resulting foreign company.
n) Any transfer, in a scheme of amalgamation of a banking company with a banking institution;
o) On any transfer in a scheme of business reorganization of a cooperative bank;
p) On any transfer in a scheme of conversion of private company or unlisted company into LLP;
q) On any transfer in case of conversion of Firm or Sole proprietary concern into Company;
r) By HUF where one of its members has converted his self-acquired property into joint family property.
Note: Where previous owner has also acquired the property in the aforesaid manner the ‘previous owner’ of the property shall be construed as the last
previous owner who acquired the property by means other than those stated above.
L Cost of Improvement [Sec. 55(1)(b)]

Cost of improvement, in relation to the capital assets shall include all capital expenditure incurred in making addition or alteration to the capital assets by the
assessee or the previous owner. However, cost of improvement does not include any expenditure incurred prior to 01-04-2001. Cost of improvement shall be
computed in the following manner:
S. No. Particular Cost of Improvement
1 In relation to goodwill of a business, right to manufacture, produce any NIL
article or thing or right to carry on business or profession
2 In relation to capital asset which becomes property of the assessee or Any expenditure of capital nature incurred on or after 01-04-2001
previous owner before 01-04-2001
3 In relation to capital asset which becomes property of the assessee or Any expenditure of capital nature incurred on or after 01-04-2001 by the
previous owner before 01.04.2001 by way of any mode specified assessee or the previous owner
under Section 49(1)
4 In relation to capital asset which becomes property of the assessee or Any expenditure of capital nature incurred by the assessee or the previo
previous owner on or after 01.04.2001 owner

5 In relation to capital asset which becomes property of the assessee or Any expenditure of capital nature incurred by the assessee or the previo
previous owner on or after 01-04-2001 by way of any mode specified owner
under Section 49(1)

M Rates of tax on capital gains:


1. Short Term Capital Gains 2. Long Term Capital Gains
a) Short-term capital gains shall be included in the gross total a) Long-term capital gains are subject to tax at 20%;
income of the taxpayer and will be taxed at the normal
rates;
b) Short-term capital gains arising from transfer of Equity b) Long-term capital gains arising from transfer of listed securities, units or
Shares, Units of an Equity Oriented Funds or a unit of a zero coupon [other than as referred to in point d) below] bonds shall be
business trust which is chargeable to securities transaction taxable at lower of following:
tax shall be taxed at 15% under Section 111A;

Note:- i. 20% after taking benefit of indexation; or


Now benefit of reduced rate of tax (i.e., 15%) shall be available w.e.f. 1- ii. 10% without taking benefit of indexation.
4-2016 even in respect of income arising from transfer of units of a c) Long-term capital gains arising to a non-residents or foreign company fro
business trust which were acquired by assessee in lieu of shares of transfer of unlisted securities shall be taxed at without giving benefit for
special purpose vehicle as referred to in section 47(xvii). d)
indexation
Long-term capital gains arising from transfer of listed equity share, or a
unit of an equity oriented fund or a unit of a business trust as referred to
in Section 112A shall be chargeable to tax at the rate of 10% in excess of
Rs. 1 Lakh.

N Reference to valuation officer [Section 55A]


With a view to ascertaining the fair market value of a capital asset, the concerned Assessing Officer may refer the valuation of the capital asset to a Valuation
Officer appointed by the Income-tax Department in the following cases:
1) Where the value of the asset as claimed by the assessee is in accordance with the estimate made by a registered valuer (who works in a private
capacity under a licence issued by the Board and his valuation is not binding on the Assessing Officer), but the Assessing Officer is of opinion that th
value so claimed is at variance with the fair market value of the asset;
2) Where the Assessing Officer is of opinion that the fair market value of the asset exceeds the value of the asset by more than Rs. 25,000 or 15 per ce
of the value claimed by the assessee, whichever is less; or
3) Where the Assessing Officer is of opinion that, having regard to nature of an asset and relevant circumstances, it is necessary to make a reference to
the Valuation Officer
O Deduction/ Exemption under Capital Gain

Particular Section 54 Section Section 54D Section 54EC Section 54EE Section 54F Section 54G Section 54GA
s 54B
Particular Section 54 Section Section 54D Section 54EC Section 54EE Section 54F Section 54G Section 54GA
s 54B
(a) Eligible taxpayers
Individual Individual Any person Any person Any Person Individual and Any person Any person
and HUF and HUF HUF
(b) Capital gains eligible for exemption
Long-term Short-term Short-term or Long-term Long-term Long-term Short-term or Long- Short-term or
or Long- Long-term term Long-term
term
(c ) Capital gains arising from transfer of
Residential Agriculture Compulsory Any long-term Any long-term Any long term Land, building, plant or Land, building,
House land used by acquisition of capital asset capital asset asset (other machinery, in order to plant or
property taxpayer or land or building being Land or than a shift industrial machinery, in
by his forming part of Building or residential undertaking from order to shift
parents or industrial Both house urban area to rural industrial
HUF for undertaking property) area. undertaking from
agriculture (which was provided on urban area to SEZ.
purposes in used for date of transfer
last 2 years industrial taxpayer does
before its purposes for at not own more
transfer least 2 years than one
before its residential
acquisition). house property
(except the
new house)

(d) Assets to be acquired for exemption


One Agricultural Land or Bond of NHAI Units of such One residential Land, building, plant or Land, building,
residential land (may building for or REC, etc. fund as may be house property machinery, in order to plant or
house be in urban shifting or notified by shift industrial machinery, in
property, Or area or rural reestablishing Central undertaking to rural order to shift
Two area) said industrial Government to area. industrial
residential undertaking finance start- undertaking to
house ups SEZ.
properties
(see note 4)
residential undertaking finance start- undertaking to
house ups SEZ.
properties
(see note 4)

(e) Time limit for acquiring the new assets


Purchase: Within 2 Within 3 years Within 6 Within 6 Purchase: within 1 year before or Within 1 year
within 1 year years after from date of months from months after within 1 year 3 years after date of before or within 3
before or 2 date of receipt of date of the date of before or transfer years after date of
years after transfer compensation transfer transfer of within 2 years transfer
date of original asset after date of
transfer transfer

Construction Construction:
: within 3 within 3 years
years after after date of
date of transfer
transfer

(f) Exemption Amount


Investment Investment Investment in Investment in Investment in Investment in Investment in new Investment in new
in new assets in new assets or new assets or new assets or new assets X assets or capital gain, assets or capital
or capital agricultural capital gain, capital gains, capital gains, capital gain/net whichever is lower gain, whichever is
gain, land or whichever is whichever is whichever is consideration lower
whichever is capital gain, lower lower, lower,
lower whichever is however, however,
lower subject to Rs. subject to Rs.
50 lakhs. 50 lakhs.

(g) Withdrawal of exemption


If new asset If new asset If new asset is If new asset is If new asset is a) If new asset If new asset is If new asset is
is transferred is transferred transferred or transferred is transferred transferred within 3 transferred within
within 3 transferred within 3 years it is converted within a period within 3 years years of acquisition 3 years of
years of its within 3 of its into money or of 3 years from of acquisition, acquisition
acquisition years of its acquisition a loan is taken the date of its
acquisition on its security acquisition.
within 5 years (see note 5)
of its
acquisition
years of its within 3 of its into money or of 3 years from of acquisition, acquisition
acquisition years of its acquisition a loan is taken the date of its
acquisition on its security acquisition.
within 5 years (see note 5)
of its
acquisition
b) if another
residential
house is
purchased
within 2 years
of transfer of
original asset;

c) if another
house is
constructed
within 3 years
of transfer of
original asset
(h) Deposit in Capital gains deposit scheme before due date under Sec. 139(1)
Yes Yes Yes No No Yes Yes Yes
P Capital Gain Account Scheme 1988

a) The scheme is open to all taxpayers, who wish to claim exemption under Sections 54, 54B, 54D, 54F, 54G or 54GB.
b) If taxpayer could not invest the capital gains to acquire new asset before due date of furnishing of return, the capital gains can be deposited before
due date for furnishing of return of income in deposit account in any branch of a nationalized bank in accordance with Capital Gain Account Scheme
1988.

Note: 1 Provisions of this section shall not apply to any transfer of residential property made after March 31, 2017. However, in case of an investment in
eligible start-up, the residential property can be transferred up to March 31, 2019.
Note: 2 W.e.f. April 1, 2017, eligible start-up is also included in definition of eligible company.
Note: 3 The eligible company should utilize the amount of subscription for purchase of new assets (i.e., plant and machinery except vehicle, office appliance
computer or computer software etc.). However, In the case of eligible startup, the new asset shall include computers or computer software.

Note:4 With effect from Assessment Year 2020-21, a taxpayer has an option to make investment in two residential house properties in India. This option ca
be exercised by the taxpayer only once in his lifetime provided the amount of long-term capital gain does not exceed Rs. 2 crores.
Note: 5 Where assessee takes loans or advance on security of such specified asset, he shall be deemed to have transferred such asset on the date on which
such loan or advance is taken.
e

, 1992.

wever, jewellery, costly


drawings, paintings,

board and which has a

cantonment board:

kh;
akhs; or
apital Asset
than 36 months or 24
e may be, immediately
treated as long-term

nto liquidation shall be

hould be included (cost of


d in Para 4.10)

ition of shares in the

ent of right shares.

o subscribe to shares to
n.
ent of bonus shares.

ition of shares in the

which the person was a


ualization/corporatization

ent of shares in the

nt or transfer of such

were held by the assessee.

r which preference shares

hich the unit or units in


ssessee.

date on which a request

are followed up by
ovided it is followed up by

period of the holding of


e and sale cannot be

e basis of the first-in-first-

from the date of

o capital gains:
ation of the two foreign

f an Indian company) held

nization.
e in consideration of the

f an Indian company) held

a) by a non-resident to

al Services Centre:
mediary dealing in

mpany by a shareholder,

rust to the transferor

wo or more schemes of a

ds.

al asset, long-term capital


ital gain, whereas transfer

us year
k acquired during the
rred during the year

y in connection with such

reciable asset will arise

us year, WDV of the block

s year, block ceases to

chever is later)

9. Thus, if any capital asset


alue as on April 1, 2001 or

or
e weight for every month
the heavy goods vehicle

t of a month during which


assessee.

tified the following Cost


on-resident in foreign

as used to acquire the

exchange rate on the date

at average exchange rate

ull value of consideration

ency initially utilised in

onsideration may be
on.

he Income-tax Act, 1961:


he Income-tax Act, 1961:

on
date of receipt)

n
e firm or AOP/BOI as the
ribution

date of
idend undersection 2(22)
hares or other securities
The difference between
alue of consideration)
e shareholder.

ck exchange, domestic
20% under section
price as reduced by the
ch shares)

he Stamp Valuation
consideration. However,
ue adopted for stamp
consideration.
ed manner) shall be

from the assessment year

curred in connection with

areholders

is derived

et is acquired by the

h asset is acquired by the

after April 1, 2009, FMV of


eing during 1999-2000),
s

t before April 1, 2009,


n (purchase price paid to
be considered)

ng as a result of transfer

tion to Section 55(2)(ac).

56(2)(vii) or (viia) or (x)

alue of assets transferred


before demerger
e in point 8.

any or unlisted public

onversion

year plus actual cost of


of assets
arge

sections

9(1) and the previous


vious owner

ition

ue on that date

mbership of the stock

change: Nil

plicable from AY 2015-16]

f units in the

of the price prevailing on


r such redemption was
will, etc., in modes
er or FMV as on April 1,

of acquisition or FMV as

ill, etc., in modes


er
cost of acquisition

rded, demolished or
g charge is taxable in the

mes the property of the

the 01-04-1987);

malgamated Foreign
he amalgamated foreign
ectly or indirectly, its
company.

construed as the last

capital assets by the


mprovement shall be

after 01-04-2001

after 01-04-2001 by the

e assessee or the previous

e assessee or the previous


;

sted securities, units or a


) below] bonds shall be

xation; or
dexation.
s or foreign company from
thout giving benefit for
sted equity share, or a
iness trust as referred to
rate of 10% in excess of

asset to a Valuation

o works in a private
cer is of opinion that the

Rs. 25,000 or 15 per cent

y to make a reference to

Section
54GB
Section
54GB

Individual and
HUF

Long-term

Residential
property
(house or a
plot of land)
(see note 1)

Subscription in
equity shares
of an eligible
company.
(see note 2,3)
Investment by
the assessee -

Before due
date for
furnishing of
return under
Sec. 139(1).

Investment in
new assets X
capital
gain/net
consideration

If equity shares
in company or
new asset
acquired by
company is
sold or
transferred
within a period
of 5 years from
date of
acquisition.
acquired by
company is
sold or
transferred
within a period
of 5 years from
date of
acquisition.

Yes

n be deposited before
al Gain Account Scheme

of an investment in

vehicle, office appliances,


puter software.

in India. This option can


ores.
t on the date on which
Treatment_of_Income_from_Different_Sources Home

III. Profits and Gains from Business and Profession


A Chargeability:
The following incomes are chargeable to tax under the head Profit and Gains from Business or Profession:
S. No. Section Particulars
1 28(i) Profit and gains from any business or profession carried on by the assessee at any time during the previous year
2 28(ii) Any compensation or other payment due to or received by any specified person
3 28(iii) Income derived by a trade, professional or similar association from specific services performed for its members
4 28(iiia) Profit on sale of a license granted under the Imports (Control) Order 1955, made under the Import Export Control Act, 1947
5 28(iiib) Cash assistance (by whatever name called) received or receivable by any person against exports under any scheme of Government of
India

6 28(iiic) Any duty of Customs or Excise repaid or repayable as drawback to any person against exports under the Customs and Central Excise
Duties Drawback Rules, 1971.

7 28(iiid) Profit on transfer of Duty Entitlement Pass Book Scheme, under Section 5 of Foreign Trade (Development and Regulation) Act, 1992

8 28(iiie) Profit on transfer of Duty Free Replenishment Certificate, under Section 5 of Foreign Trade (Development and Regulation) Act 1992

9 28(iv) Value of any benefits or perquisites arising from a business or the exercise of a profession.
10 28(v) Interest, salary, bonus, commission or remuneration due to or received by a partner from partnership firm
11 28(va) a) Any sum received or receivable for not carrying out any activity in relation to any business or profession; or
b) Any sum received or receivable for not sharing any know-how, patent, copyright, trademark, licence, franchise, or any other
business or commercial right or information or technique likely to assist in the manufacture of goods or provision of services.

12 28(vi) Any sum received under a Key man Insurance policy including the sum of bonus on such policy
12A. 28(via) Any profit or gains arising from conversion of inventory into capital asset.
13 28(vii) Any sum received ( or receivable) in cash or in kind, on account of any capital assets (other than land or goodwill or financial
instrument) being demolished, destroyed, discarded or transferred, if the whole of the expenditure on such capital assets has been
allowed as a deduction under section 35AD
13 28(vii) Any sum received ( or receivable) in cash or in kind, on account of any capital assets (other than land or goodwill or financial
instrument) being demolished, destroyed, discarded or transferred, if the whole of the expenditure on such capital assets has been
allowed as a deduction under section 35AD

14 Explanation Income from speculative transactions. However, it shall be deemed to be distinct and separate from any other business.
to section 28

15 41(1) • Remission or cessation of liability in respect of any loss, expenditure or trading liability incurred by the taxpayers
• Recovery of trading liability by successor which was allowed to the predecessor shall be chargeable to tax in the hands of successor.
Succession could be due to amalgamation or demerger or succession of a firm succeeded by another firm or company, etc.

• Any liability which is unilaterally written off by the taxpayer from the books of accounts shall be deemed as remission or cessation
of such liability and shall be chargeable to tax.

16 41(2)
Depreciable asset in case of power generating units, is sold, discarded, demolished or destroyed, the amount by which sale
consideration and/ or insurance compensation together with scrap value exceeds its WDV shall be chargeable to tax.
17 41(3)
Where any capital asset used in scientific research is sold without having been used for other purposes and the sale proceeds
together with the amount of deduction allowed under section 35 exceed the amount of the capital expenditure, such surplus or the
amount of deduction allowed, whichever is less, is chargeable to tax as business income in the year in which the sale took place.
18 41(4)
Where bad debts have been allowed as deduction under Section 36(1)(vii) in earlier years, any recovery of same shall be chargeable
to tax.
19 41(4A)
Amount withdrawn from special reserves created and maintained under Section 36(1)(viii) shall be chargeable as income in the
previous year in which the amount is withdrawn.
20 41(5)
Loss of a discontinued business or profession could be adjusted from the deemed business income as referred to in
section 41(1), 41(3), (4) or (4A) without any time limit.
20A. 43AA Any foreign exchange gain or loss arising in respect of specified foreign currency transactions shall be treated as income or loss. Such
gain or loss shall be computed in accordance with notified ICDS [subject to Section 43A]

21 43CA
Where consideration for transfer of land or building or both as stock-in-trade is less than the stamp duty value, the value so adopted
shall be deemed to be the full value of consideration for the purpose of computing income under this head.
21 43CA

However, no such adjustment is required to be made if value adopted for stamp duty purposes does not exceed 105% of the sale
consideration.
21A. 43CB The profits and gains arising from construction contract or a contract for providing service is to be determined on the basis of
percentage completion method, in accordance with the notified ICDS.

In case of contract for providing services with duration of not more than 90 days, the profits and gains shall be determined on basis
of project completion method.

While as in case of contract for providing services with indeterminate number of acts over a specified period of time shall be
determined on basis of straight line method.

22 43D As per RBI Guidelines, Interest on bad and doubtful debts of Public Financial Institution or Scheduled Bank or [a co-operative bank
other than a primary agricultural credit society or a primary co-operative agricultural and rural development bank] or State Financial
Corporation or State Industrial Investment Corporation, shall be chargeable to tax in the year in which it is credited to Profit and Loss
A/c or year in which it is actually received, whichever happens earlier.

23 43D
Similarly as per NHB Guidelines, Interest on bad and doubtful debts of housing finance company, shall be chargeable to tax, in the
year it is credited to P & L A/c or year in which it is actually received by them, whichever is earlier.
24 —

Assistance in the form of a subsidy or grant or cash incentive or duty drawback or waiver or concession or reimbursement (by
whatever name called) by the Central Govt. or State Govt. or any authority or body or agency to the assessee would be included in
definition of income as referred to in Section 2(24). However, in the following cases subsidy or grant shall not be treated as income:
i) The subsidy or grant or reimbursement which is taken into account for determination of the actual cost of the asset in accordance
with the provisions of Explanation 10 to clause (1) of Section 43;

ii) The subsidy or grant by the Central Government for the purpose of the corpus of a trust or institution established by the Central
Government or a State Government, as the case may be.

B Deductions under Sections 30 to 37


Amount deductible, while computing, Profits and Gains of Business or Profession are:-
Section Nature of expenditure Quantum of deduction Assessee
30 Rent, rates, taxes, repairs (excluding capital Actual expenditure incurred excluding capital expenditure All assessee
expenditure) and insurance for premises
31 Repairs (excluding capital expenditure) and Actual expenditure incurred excluding capital expenditure All assessee
insurance of machinery, plant and furniture

32(1)(i) Depreciation on Allowed at prescribed percentage on Straight Line Method for Assessees engaged in business of
each asset generation or generation and
i) buildings, machinery, plant or furniture, distribution of power
being tangible assets;

ii) know-how, patents, copyrights, trademarks, Provided that where an asset is acquired by the assessee during Note:
licenses, franchises, or any other business or the previous year and is put to use for a period of less than one
commercial rights of similar nature, being hundred and eighty days in that previous year, the deduction in Taxpayers engaged in the business
intangible assets respect of such asset shall be restricted to fifty per cent of the of generation or generation and
amount calculated at the percentage prescribed for an asset. distribution of power shall have the
option to claim depreciation either
on basis of straight line basis
method or written down value
method on each block of asset.

32(1)(ii) Depreciation on Allowed at prescribed percentage on WDV method for each All assessees
block of asset

i) buildings, machinery, plant or furniture, Provided that where an asset is acquired by the assessee during
being tangible assets; the previous year and is put to use for a period of less than one
hundred and eighty days in that previous year, the deduction in
ii) know-how, patents, copyrights, trademarks, respect of such asset shall be restricted to fifty per cent of the
licenses, franchises, or any other business or amount calculated at the percentage prescribed for an asset.
commercial rights of similar nature, being
intangible assets

32(1)(iia) Additional depreciation on new plant and Additional depreciation shall be available @20 % of the actual All assessee engaged in
machinery (other than ships, aircraft, office cost of new plant and machinery.
appliances, second hand plant or machinery,
etc.).
(subject to certain conditions)
Proviso Additional depreciation on new plant and Additional depreciation shall be available @35 % of the actual All assessees- where an assessee
to Section machinery (other than ships, aircraft,office cost of new plant and machinery. sets up an undertaking or
32(1) appliances, second hand plant or machinery, enterprise for production or
(iia) etc.)) manufacture of any article or thing
in any notified backward area in
state of the state of Andhra
Pradesh, Bihar, Telangana or West
Bengal.

32AC Deduction under section 32AC is available if 15% of actual cost of new asset Company engaged in business or
actual cost of new plant and machinery manufacturing or production of
acquired and installed by a manufacturing any article or thing
company during the previous year exceeds Rs.
25/100 Crores, as the case may be.(Subject to
certain conditions)

32AD Investment allowance for investment in new Investment allowance shall be available @15 % of the actual All assessee who acquired new
plant and machinery if manufacturing unit is cost of new plant and machinery in the year of installation of plant and machinery for the
set-up in the notified backward area in the new asset. purpose of setting-up
state of Andhra Pradesh, Bihar, Telangana or manufacturing unit in the notified
West Bengal(Subject to certain conditions) backward area in the state of
Note:- Andhra Pradesh, Bihar, Telangana
1) New asset should be acquired and installed during the period or West Bengal
beginning on the 1st day of April, 2015 and ending before the
1st day of April, 2020.

2) Manufacturing unit should be set-up on or after 1st day of


April, 2015.

3) Deduction shall be allowed under Section 32AD in addition


to deduction available under Section 32AC if assessee fulfils the
specified conditions
33AB Amount deposited in Tea/Coffee/Rubber Deduction shall be lower of following: All assessee engaged in business of
Development Account by assessee engaged in growing and manufacturing
business of growing and manufacturing a) Amount deposited in account with National Bank for tea/Coffee/Rubber
tea/Coffee/Rubber in India Agricultural and Rural Development (NABARD) or in Deposit
Account of Tea Board, Coffee Board or Rubber Board in
accordance with approved scheme; or

b) 40% of profits from such business before making any


deduction under section 33AB and before adjusting any
brought forward loss.
(Subject to certain conditions)
33ABA Amount deposited in Special Account with Deduction shall be lower of following: All assessee engaged in business of
SBI/Site Restoration Account by assessee prospecting for, or extraction or
carrying on business of prospecting for, or a) Amount deposited in Special Account with SBI/Site production of, petroleum or natural
extraction or production of, petroleum or Restoration Account; or gas or both in India
natural gas or both in India
b) 20% of profits from such business before making any
deduction under section 33ABA and before adjusting any
brought forward loss.
(Subject to certain conditions)
35(1)(i) Revenue expenditure on scientific research Entire amount incurred on scientific research is allowed as All assessee
pertaining to business of assessee is allowed deduction.
as deduction (Subject to certain conditions).
Expenditure on scientific research within 3 years before
commencement of business (in the nature of purchase of
materials and salary of employees other than perquisite) is
allowed as deduction in the year of commencement of business
to the extent certified by prescribed authority.

35(1)(ii) Contribution to approved research 175% of sum paid to such association, university, college, or All assessee
association, university, college or other other institution is allowed as deduction.
institution to be used for scientific research
shall be allowed as deduction (Subject to 150% of sum paid to such association, university, college or
certain conditions) other institution is allowed as deduction (applicable from AY
2018-19)

Note:- From the AY beginning on or after the 1st day of April,


2021, the deduction shall be equal to the sum so paid.
Note:- From the AY beginning on or after the 1st day of April,
2021, the deduction shall be equal to the sum so paid.

35(1)(iia) Contribution to an approved company 125% of sum paid to the company is allowed as deduction All assessee
registered in India to be used for the purpose
of scientific research is allowed as deduction
(Subject to certain conditions) Entire sum paid to the company is allowed as deduction
(applicable from AY 2018-19)
35(1)(iii) Contribution to approved research 125% of sum paid to such association, university, college, or All assessee
association, university, college or other other institution is allowed as deduction
institution with objects of undertaking
statistical research or research in social Entire sum paid to such association, university, college or other
sciences shall be allowed as deduction institution is allowed as deduction
(Subject to certain conditions)
(applicable from AY 2018-19)
35(1) Capital expenditure incurred during the year Entire capital expenditure incurred on scientific research is All assessee
(iv)read on scientific research relating to the business allowed as deduction.
with 35(2) carried on by the assessee is allowed as
deduction (Subject to certain conditions) Capital expenditure incurred within 3 years before
commencement of business is allowed as deduction in the year
of commencement of business.

Note:
ii. No depreciation shall be allowed on such assets.
35(2AA) Payment to a National Laboratory or 200% of payment is allowed as deduction (Subject to certain All assessee
University or an Indian Institute of Technology conditions).
or a specified person is allowed as deduction.
150% of payment is allowed as deduction (applicable from AY
2018-19)

The payment should be made with the Note:-


specified direction that the sum shall be used
in a scientific research undertaken under an From the A.Y. beginning on or after the 1st day of April, 2021,
approved programme. the deduction shall be equal to the sum so paid.
35(2AB) Any expenditure incurred by a company on 200% of expenditure so incurred shall be allowed as deduction. Company engaged in business of
scientific research (including capital bio-technology or in any business
expenditure other than on land and building) of manufacturing or production of
on in-house scientific research and 150% of expenditure so incurred shall be allowed as deduction eligible articles or things
development facilities as approved by the (applicable from AY 2018-19)
prescribed authorities shall be allowed as
deduction (Subject to certain conditions). Note:
i. Company should enter into an agreement with the prescribed
authority for co-operation in such research and development
and fulfils conditions with regard to maintenance of accounts
and audit thereof and furnishing of reports in such manner as
may be prescribed.
Expenditure on scientific research in relation
to Drug and Pharmaceuticals shall include
expenses incurred on clinical trials, obtaining
approvals from authorities and for filing an ii. From the A.Y. beginning on or after the 1st day of April, 2021,
application for patent. the deduction shall be equal to the expend the so incurred.

35ABA Capital expenditure incurred and actually paid Deduction will be available in equal installments starting from All Assessee engaged in
for acquiring any right to use spectrum for the year in which actual payment is made and ending in the telecommunication services
telecommunication services shall be allowed year in which spectrum comes to an end.
as deduction over the useful life of the
spectrum.
Note:
If spectrum fee is actually paid before the commencement of
business, the deduction will be available from the year in which
business is commenced.

35ABB Capital expenditure incurred for acquiring any Deduction would be allowed in equal installments starting from All Assessee engaged in
license or right to operate telecommunication the year in which such payment has been made and ending in telecommunication services
services shall be allowed as deduction over the year in which license comes to an end.
the term of the license.

35AC Expenditure by way of payment of any sum to Actual payment made to prescribed entities. However, a All assessee. However, deduction
a public sector company/local company can also claim deduction for expenditure incurred by for direct expenditure is allowed
authority/approved association or institution it directly on eligible projects. only to a company
for carrying out any eligible scheme or project
(Subject to certain conditions).
35AC Expenditure by way of payment of any sum to Actual payment made to prescribed entities. However, a All assessee. However, deduction
a public sector company/local company can also claim deduction for expenditure incurred by for direct expenditure is allowed
authority/approved association or institution it directly on eligible projects. only to a company
for carrying out any eligible scheme or project
(Subject to certain conditions).
Note:-
No deduction in any A.Y. commencing on or after the 1st day of
April, 2018

35AD Deduction in respect of `expenditure on 150% of capital expenditure incurred for the purpose of All assessee
specified businesses, as under: business is allowed as deduction provided the specified
business has commenced its operation on or after 01-04-2012.
a) Setting up and operating a cold chain facility

b) Setting up and operating a warehousing 100% of capital expenditure will be allowed to be deducted
facility for storage of agricultural produce from the assessment year 2018-19 onwards

Note: If such specified businesses commence operations on or


before 31-03-2012 but after prescribed dates, deduction shall
c) Building and operating, anywhere in India, a be limited to 100% of capital expenditure.
hospital with at least 100 beds for patients

d) Developing and building a housing project Note: No deduction of any capital expenditure above Rs 10,000
under a notified scheme for affordable shall be allowed if it is incurred in cash.
housing

e) Production of fertilizer in India


(Subject to certain conditions)
35AD Deduction in respect of expenditure on 100% of capital expenditure incurred for the purpose of All assessee
specified businesses, as under: business is allowed as deduction provided specified businesses
commence operations on or after the prescribed dates.

a) Laying and operating a cross-country Note: No deduction of any capital expenditure above Rs 10,000 Note: Such deduction is available to
natural gas or crude or petroleum oil pipeline shall be allowed if it is incurred in cash. Indian company in case of
network for distribution, including storage following business, namely;-
facilities being an integral part of such
network;
network for distribution, including storage following business, namely;-
facilities being an integral part of such
network;

i) Business of laying and operating


a cross-country natural gas or crude
b) Building and operating, anywhere in India, a or petroleum oil pipeline network
hotel of two-star or above category;

c) Developing and building a housing project


under a scheme for slum redevelopment or
rehabilitation ii) Developing or maintaining and
operating or developing,
maintaining and operating a new
d) Setting up and operating an inland infrastructure facility.
container depot or a container freight station

e) Bee-keeping and production of honey and


beeswax

f) Setting up and operating a warehousing


facility for storage of sugar

g) Laying and operating a slurry pipeline for


the transportation of iron ore

h) Setting up and operating a semi-conductor


wafer fabrication manufacturing unit

i) Developing or maintaining and operating,


or developing, maintaining and operating a
new infrastructure facility

(Subject to certain conditions)


35CCA Payment to following Funds are allowed as Actual payment to specified funds All assessee
deduction:

a) National Fund for Rural Development; and


a) National Fund for Rural Development; and

b) Notified National Urban Poverty Eradication


Fund

35CCC Expenditure (not being cost of land/ building) 150% of the expenditure (Subject to certain conditions) All assessee
incurred on notified agricultural extension
project for the purpose of training, educating Note:-
and guiding the farmers shall be allowed as 100% deduction shall be allowed from the 1st day of April, 2021
deduction, provided the expenditure to be
incurred is expected to be more than Rs. 25
lakhs (Subject to certain conditions).

35CCD Expenditure incurred by a company (not being 150% of the expenditure (Subject to certain conditions) Company engaged in
expenditure in the nature of cost of any land manufacturing of any article or
or building) on any notified skill development Note: providing specified services
project is allowed as deduction (Subject to (i) No deduction shall be allowed to a company engaged in
certain conditions). manufacturing alcoholic spirits or tobacco products.

(ii) 100% deduction shall be allowed for the AY beginning on or


after the 1st day of April, 2021

35D An Indian company can amortize certain Qualifying preliminary expenditure is allowable in each of 5 Indian Company
preliminary expenses (up to maximum of 5% successive years beginning with the previous year in which the
of cost of the project or capital employed, extension of undertaking is completed or the new unit
whichever is more) (Subject to certain commences production or operation.
conditions and nature of expenditures)

35D Non-corporate taxpayers can amortize certain Qualifying preliminary expenditure is allowable in each of 5 Resident Non-corporate assessees
preliminary expenses (up to maximum of 5% successive years beginning with the previous year in which the
of cost of the project) (Subject to certain extension of undertaking is completed or the new unit
conditions and nature of expenditures) commences production or operation.

35DD Expenditure incurred after 31-3-1999 in Expenditure is allowed as deduction in five equal installments Indian Company
respect of amalgamation or demerger can be in 5 previous years starting with the year in which
amortized by an Indian Company amalgamation or demerger took place.
35DD Expenditure incurred after 31-3-1999 in Expenditure is allowed as deduction in five equal installments Indian Company
respect of amalgamation or demerger can be in 5 previous years starting with the year in which
amortized by an Indian Company amalgamation or demerger took place.

35DDA Expenditure incurred under Voluntary Each payment under VRS is allowed as deduction in five equal All Assessee
Retirement Scheme is allowed as deduction. installments in 5 previous years.

35E Qualifying expenditure incurred by resident Eligible expenditure is allowed as deduction in ten equal Resident persons
persons on prospecting for the minerals or on installments in 10 previous years.
the development of mine or other natural
deposit of such minerals shall be allowed as
deduction (Subject to certain conditions).

36(1)(i) Insurance premium covering risk of damage or Actual expenditure incurred All Assessee
destruction of stocks/stores

36(1)(ia) Insurance premium covering life of cattle Actual expenditure incurred All Assessee
owned by a member of co-operative society
engaged in supplying milk to federal milk co-
operative society

36(1)(ib) Medical insurance premium paid by any mode Actual expenditure incurred All Assessee
other than cash, to insure employee’s health
under (a) scheme framed by GIC of India and
approved by Central Government; or (b)
scheme framed by any other insurer and
approved by IRDA

36(1)(ii) Bonus or commission paid to employees Actual expenditure incurred All Assessee
which would not have been payable as profit
or dividend if it had not been paid as bonus or
commission

36(1)(iii) Interest on borrowed capital (Subject to Interest paid in respect of capital borrowed for the purposes of All Assessee
certain conditions) the business or profession shall be allowed as deduction.
However, if capital is borrowed for acquiring an asset, then
interest for any period beginning from the date on which
capital was borrowed till the date on which asset was first put
to use, shall not be allowed as deduction.
36(1)(iii) Interest on borrowed capital (Subject to Interest paid in respect of capital borrowed for the purposes of All Assessee
certain conditions) the business or profession shall be allowed as deduction.
However, if capital is borrowed for acquiring an asset, then
interest for any period beginning from the date on which
capital was borrowed till the date on which asset was first put
to use, shall not be allowed as deduction.

36(1)(iiia) Discount on Zero Coupon Bonds (Subject to Pro-rata amount of discount on zero coupon bonds shall be Specified Assessee
certain conditions) allowed as deduction over the life of such bond

36(1)(iv) Employer’s contributions to recognized Actual expenditure incurred All Assessee


provident fund and approved superannuation
fund [subject to certain limits and conditions]

36(1)(iva) Any sum paid by assessee-employer by way of Actual expenditure not exceeding 10% of the salary* of the All Assessee - Employer
contribution towards a pension scheme, as employee
referred to in section 80CCD, on account of an
employee. *Salary = Basic Pay + Dearness Allowance (to the extent it
forms part of retirement benefits)+ turnover based commission

36(1)(v) Employer’s contribution towards approved Actual expenditure not exceeding 8.33% of salary of each All Assessee - Employer
gratuity fund created exclusively for the employee
benefit of employees under an irrevocable
trust shall be allowed as deduction (Subject to
certain conditions).

36(1)(va) Deposit of employee’s contributions in their Actual amount received if credited to the employee’s account in All Assessee - Employer
respective provident fund or superannuation relevant fund on or before due date specified under relevant
fund or any fund set up under Employees’ Act
State Insurance Act, 1948

36(1)(vi) Allowance in respect of animals which have Actual cost of acquisition of such animals less realization on All Assessee
died or become permanently useless (Subject sale of carcasses of animals
to certain conditions)
36(1)(vii) Bad debts which have been written off as Actual bad debts which have been written off from books of All Assessee
irrecoverable (Subject to certain conditions) accounts

Note:-
However, if amount of debt or part thereof has been taken into
account in computing the income of assessee on basis of
income computation and disclosure standards notified under
Section 145(2) without recording the same in accounts then,
such debt shall be allowed in the previous year in which such
debt or part therof becomes irrecoverable. It shall be deemed
that such debt or part thereof has been written off as
irrecoverable in the accounts.

36(1)(viia) Deductions for provision for bad and doubtful Deductions for provision for bad and doubtful debts shall be Banks, Public Financial Institutions,
debts created by certain banks, financial limited to following: Non-banking financial company,
institutions and non-banking financial State Financial Corporation, State
company (Subject to certain conditions). (a) In case of scheduled and non-scheduled banks: Sum not Industrial Investment Corporations
exceeding aggregate of 8.5% of total income (before any
deductions under this provision and Chapter VI-A) and 10% of
Note aggregate average advances made by rural branches of such
bank;
Deduction in respect of bad debts actually
written off under section 36(1)(vii) shall be
limited to that amount of bad debts which (b) In case of Financial Institutions: Up to 5% of total income
exceed the provision for bad and doubtful before any deductions under this provision and Chapter VI-A;
debts created under section 36(1)(viia). and

(c) In case of foreign banks: Up to 5% of total income before any


deductions under this provision and Chapter VI-A

(d) In case of non-banking financial company: Up to 5% of total


income before any deduction under this provision and chapter
VI-A
36(1)(viii) Deduction under this provisions is allowed to Deduction shall be allowed to the extent of lower of following: Specified financial corporations or
following entities in respect of amount public company
transferred to special reserve account:
a) Amounts transferred to special reserve account
a) Financial Corporation which is engaged in b) 20% of profits derived from eligible business
providing long-term finance for industrial or
agricultural development or development of c) 200% of paid-up capital and general reserve (on last day of
infrastructure facility in India; or previous year) minus balance in special reserve account (on first
day of previous year)

b) Public company registered in India with the


main object of carrying on the business of
providing long-term finance for construction
or purchase of residential houses in India.

[Subject to certain conditions]


36(1)(ix) Expenditure incurred by a company on 1) Entire revenue expenditure is allowed as deduction Company
promotion of family planning amongst
employees is allowed as deduction 2) Capital expenditure shall be allowed as deduction in five
equal installment in five years

36(1)(xii) Any expenditure incurred by a notified Actual expenditure incurred (not being in the nature of capital Notified corporations
corporation or body corporate constituted or expenditure)
established by a Central, State or Provincial
Act, for the objects and purposes authorized
by the respective Act is allowed as deduction

36(1)(xiv) Contribution to Credit Guarantee Trust Fund Actual expenditure incurred Public Financial Institutions
for micro and small industries is allowed as
deduction

36(1)(xv) Securities Transaction Tax paid Actual expenditure incurred if corresponding income is All Assessee
included as income under the head profits and gains of
business or profession
36(1)(xvi) Amount equal to commodities transaction tax Actual expenditure incurred if corresponding income is All Assessee
paid by an assessee in respect of taxable included as income under the head profits and gains of
commodities transactions entered into in the business or profession
course of his business during the previous
year is allowed as deduction

36(1)(xvii) Amount of expenditure incurred by a co- Deduction would be allowed the extent of lower of following: Co-operative society engaged in the
operative society engaged in the business of business of manufacture of sugar
manufacture of sugar for purchase of a) Actual purchase price of sugarcane, or
sugarcane. b) Price of sugarcane fixed or approved by the Government

36(1)(xviii) Marked to market loss or other unexpected Actual losses incurred All assessee
loss as computed in accordance with notified
ICDS

37(1) Any other expenditure [not being personal or Actual expenditure incurred All Assessee
capital expenditure and expenditure
mentioned in sections 30 to 36] laid out
wholly and exclusively for purposes of
business or profession

37(2B) Expenditure on advertisement in any souvenir, Not Allowed All Assessee


brochure etc. published by a political party
shall not be allowed as deduction

C Amount expressly disallowed under the Act


Section Description
40(a)(i) Any sum (other than salary) payable outside India or to a non-resident, which is chargeable to tax in India in the hands of the recipient, shall not be
allowed to be deducted if it was paid without deduction of tax at source or if tax was deducted but not deposited with the Central Government till
the due date of filing of return.

:
However, if tax is deducted or deposited in subsequent year, as the case may be, the expenditure shall be allowed as deduction in
that year.
40(a)(ia) Any sum payable to a resident, which is subject to deduction of tax at source, would attract 30% disallowance if it was paid without deduction of
tax at source or if tax was deducted but not deposited with the Central Government till the due date of filing of return.

:
However, where in respect of any such sum, tax is deducted or deposited in subsequent year, as the case may be, the expenditure so
disallowed shall be allowed as deduction in that year.
40(a)(ib) Any sum paid or payable to a non-resident which is subject to a deduction of Equalisation levy would attract disallowance if such sum was paid
without deduction of such levy or if it was deducted but not deposited with the Central Government till the due date of filing of return.

: However, where in respect of any such sum, Equalisation levy is deducted or deposited in subsequent year, as the case may be, the
expenditure so disallowed shall be allowed as deduction in that year.

: Note: This provision has beeninserted by the Finance Act, 2016, w.e.f. 1-6-2016
40(a)(ii) Any sum paid on account of any rate or tax levied on the profits and gains of business or profession is not deductible
40(a)(iia) Wealth-tax or any other tax of similar nature shall not be deductible
40(a)(iib) Amount paid by way of royalty, license fee, service fee, privilege fee, service charge or any other fee or charge, by whatever name called, which is
levied exclusively on (or any amount appropriated) a State Government undertaking by the State Government shall not be deductible.

40(a)(iii) Salaries payable outside India, or in India to a non-resident, on which tax has not been paid/deducted at source is not deductible.
40(a)(iv)
Payments to provident fund or other funds for employees’ benefit shall not be deductible if no effective arrangements have been made to ensure
deduction of at source from payments made from such funds to employees which shall be chargeable to tax as ‘salaries’.
40(a)(v)
Tax paid by the employer on non-monetary perquisites provided to employees is not deductible if the tax so paid is not taxable in the hands of
employees by virtue of Section 10(10CC).
40(b) Following sum paid by a partnership firm to its partners shall not be allowed to be deducted:
1) Salary, bonus, commission or remuneration paid to non-working partners;
2) Remuneration or interest paid to the partners is not in accordance with the terms of the partnership deed;
3) Interest to partners is in accordance with the terms of the partnership deed but exceeds 12% per annum;
Remuneratio
4)
n or interest Interest to partners is in accordance with the terms of the partnership deed but exceeds 12% per annum;
to partners
5) is Remuneration to partners is in accordance with the terms of the partnership deed but exceeds the following permissible limit:
in
accordance
with the
terms of the
partnership
5) Remuneration to partners is in accordance with the terms of the partnership deed but exceeds the following permissible limit:

a) On first Rs. 3 Lakhs of book profit or in case of loss - Rs. 1,50,000 or 90% of book profit, whichever is more;
b) On the balance of the book profit - 60% of book profit
40(ba) Interest, salary, bonus, commission or remuneration paid by Association of Persons or Body of Individuals to its members shall not be allowed as
deduction (Subject to certain conditions).

40A(2) Any payment to related parties (relatives, directors, partner, member of HUF/AOP, person who has substantial interest in business of the taxpayer,
etc.) in respect of any expenditure shall be disallowed to the extent such expenditure is considered excessive or unreasonable by the Assessing
Officer having regard to its fair market value.

40A(3)/
(3A)
An expenditure, which is otherwise deductible under any provision of the Act, shall be disallowed if payment thereof has been made otherwise
than by account payee cheque/bank draft or use of electronic clearing system through a bank account and it exceeds Rs. 10,000 (Rs. 35,000 in case
of payment made for plying, hiring or leasing goods carriages) in a day (Subject to certain conditions and exceptions).
40A(7) Provision for payment of gratuity to employees, other than a provision for contribution to approved gratuity fund, shall not be allowed as
deduction (Subject to specified conditions).

: Gratuity actually paid (or payable) during the year and contribution to approved gratuity fund is allowed as deduction.
40A(9) Any sum paid as an employer for setting up or as contribution to any fund, trust, company, AOP, BOI, Society or other institution (other than
recognized provident fund, approved superannuation fund, approved gratuity fund or pension scheme referred to in section 80CCD) shall not be
allowed as deduction deduction if such contribution or payment is not required by any law.

40(A)(13) No deduction shall be allowed in respect of marked to market loss or other unexpected loss except as allowable under section 36(1)(xviii).

D Expenses deductible on actual payment basis


The following expenses shall be allowed as deduction if such expenditure are actually paid on or before the due date of filing of return of income:-
Section Particulars
43B(a) Any Tax, Duty, Cess or Fees under any Law
43B(b) Any contribution to Provident Fund/Superannuation Fund/Gratuity Fund/Welfare Fund
43B(c) Bonus or Commission paid to employees which would not have been payable as profit or dividend
43B(d) Interest on Loan or Borrowings from Public Financial Institutions/State Financial Institutions etc.
43B(e) Interest on loan or advance from bank
43B(f) Payment of Leave Encashment
43B(g) Sum payable to the Indian Railways for the use of railway assets.
E Other provisions
Section Particulars Provision
42 Following deductions shall be allowed as deductions:
Special allowance in case of business of prospecting etc. for mineral
oil (including petroleum and natural gas) in relation to which the a) Any infructuous exploration expenditure
Central Government has entered into an agreement with the b) Expenditure on drilling or exploration activities or services, etc.
taxpayer for the association or participation (Subject to certain
conditions). c) Allowance in relation to depletion of mineral oil, etc.
43A Special provisions consequential to changes in rate of exchange of Any increase or decrease in the liability incurred in foreign currency (to
Currency (Subject to certain conditions). acquire a capital asset) pursuant to fluctuation in the foreign exchange rates
shall be adjusted with the actual cost of such asset only on actual payment of
the liability.

43C Acquisition of any asset (except stock-in-trade) by the taxpayer in


the scheme of amalgamation or by way of gift, will etc.
Cost of acquisition of any asset (except stock-in-trade) acquired by the
taxpayer in the scheme of amalgamation or by way of gift, will etc. from the
transferor (who sold it as stock-in-trade) shall be the cost of acquisition in the
hands of transferor as increased by cost of any improvement made
F Provisions applicable to Non-Resident/Foreign Company
Section Particulars Limit of exemption or Computation of Available to
income/deduction
44Bread Income from shipping business shall be 7.5% of specified sum shall be deemed to be the
with 172 computed on presumptive basis (Subject to presumptive income
certain conditions).
Non-resident engaged in shipping business
44BB Income of a non-resident engaged in the 10% of specified sum shall be deemed to be the Non-resident engaged in activities
business of providing services or facilities in presumptive income connected with exploration of mineral oils
connection with, or supplying plant and
machinery on hire used, or to be used, in the
prospecting for, or extraction or production of,
mineral oils shall be computed on
presumptive basis (Subject to certain
conditions).

44BBA Income of a non-resident engaged in the 5% of specified sum shall be deemed to be the Non-resident engaged in the business of
business of operation of aircraft shall be presumptive income operating of aircraft
computed on presumptive basis (Subject to
certain conditions).

44BBB Income of a foreign company engaged in the 10% of specified sum shall be deemed to be the Foreign Company
business of civil construction or the business presumptive income
of erection of plant or machinery or testing or
commissioning thereof, in connection with
turnkey power projects shall be computed on
presumptive basis (Subject to certain
conditions).

44C Deduction for Head office Expenditure Deduction for head-office expenditure shall be limited Non-resident
(Subject to certain conditions and limits) to lower of following:

a) 5% of adjusted total income*


b) Head office exp. as attributable to business
or profession of taxpayer in India
*
In case adjusted total income of the
assessee is a loss, adjusted total income
shall be substituted by average adjusted
total income
**
Adjusted total income or average adjusted
total income shall be computed after
prescribed adjustments i.e. unabsorbed
depreciations, carry forward losses, etc.
44DA Expenditure incurred wholly and exclusively for the Non-resident
Deduction of expenditure from royalty and business of PE or fixed place of profession in India
FTS received under an agreement made after shall be allowed as deduction.
31-03-2003 which is effectively connected to
the PE of non-resident in India (Subject to
certain conditions)
G
Accounts and Audit
Section Particulars Threshold
44AA Compulsory maintenance of prescribed books of account - Specified Persons carrying on specified profession and their gross receipts exceed Rs.
Profession (Subject to certain conditions and circumstances) 1,50,000 in all the three years immediately preceding the previous year

44AA Compulsory maintenance of books of account - Other business or 1) If total sales, turnover or gross receipts exceeds Rs. 25,00,000 in
profession (Subject to certain conditions and circumstances) any one of the three years immediately preceding the previous
year; or

2) If income from business or profession exceeds Rs. 2,50,000 in any


one of the three years immediately preceding the previous year

44AB Compulsory Audit of books of accounts (Subject to certain 1) If total sales, turnover or gross receipts exceeds Rs. 2 Crore in any
conditions and circumstances) previous year, in case of business; or

2) If gross receipts exceeds Rs. 50 Lakhs in any previous year, in case


of profession.
H Presumptive Taxation
Section Nature of business Presumptive income
44AD Income from eligible business can be computed on presumptive Presumptive income of eligible business shall be 8% of gross receipt or total
basis if turnover of such business does not exceed two crore rupees. turnover.

Note: If an assessee opts out of the presumptive taxation Note: Presumptive income shall be calculated at rate of 6% in respect of
scheme, after a specified period, he cannot choose to total turnover or gross receipts which is received by an account
revert back to the presumptive taxation scheme for a payee cheque or draft or use of electronic clearing system.
period of five assessment years thereafter. [section
44AD(4)]

(Subject to conditions)
44ADA Income from eligible profession u/s 44AA(1) can be computed on Presumptive income of such profession shall be 50% of total gross receipt.
presumptive basis if the total gross receipts from such profession do
not exceed fifty lakh rupees in a previous year.

(Subject to conditions)
44AE Presumptive income from business of plying, hiring or leasing of For Heavy Goods Rs. 1,000 per ton of gross vehicle weight for every
goods carriage if assessee does not own more than 10 goods Vehicle: month or part of a month during which the heavy
carriage. goods vehicle is owned by assessee.

For Other Goods Rs. 7,500 for every month or part of a month during
Vehicle: which the goods carriage is owned by assessee.

Note: 'Heavy goods vehicle' means goods carriage vehicle the gross
vehicle weight of which exceeds 12,000 kilograms.
Home

ar

s
rol Act, 1947
eme of Government of

ms and Central Excise

Regulation) Act, 1992

Regulation) Act 1992

ise, or any other


on of services.
ill or financial
pital assets has been
business.

yers
the hands of successor.
mpany, etc.

emission or cessation

y which sale
to tax.

d the sale proceeds


re, such surplus or the
the sale took place.

e shall be chargeable

as income in the

to in

s income or loss. Such

the value so adopted


d 105% of the sale
on the basis of

determined on basis

f time shall be

a co-operative bank
ank] or State Financial
dited to Profit and Loss

geable to tax, in the

bursement (by
would be included in
be treated as income:
he asset in accordance

blished by the Central

Assessee
gaged in business of
r generation and
of power

gaged in the business


n or generation and
of power shall have the
im depreciation either
raight line basis
ritten down value
ach block of asset.

engaged in
- where an assessee
ndertaking or
r production or
of any article or thing
d backward area in
tate of Andhra
ar, Telangana or West

gaged in business or
ng or production of
thing

who acquired new


achinery for the
etting-up
ng unit in the notified
ea in the state of
esh, Bihar, Telangana
gal
engaged in business of
manufacturing
ubber

engaged in business of
or, or extraction or
f, petroleum or natural
n India
gaged in business of
gy or in any business
uring or production of
es or things

engaged in
ication services

engaged in
ication services

However, deduction
penditure is allowed
mpany
eduction is available to
any in case of
siness, namely;-
f laying and operating
try natural gas or crude
m oil pipeline network

g or maintaining and
developing,
and operating a new
e facility.
gaged in
ng of any article or
ecified services

any

n-corporate assessees

any
any

sons
essee

- Employer

- Employer

- Employer
c Financial Institutions,
financial company,
al Corporation, State
estment Corporations
ancial corporations or
any

porations

ial Institutions
society engaged in the
manufacture of sugar

e recipient, shall not be


entral Government till

wed as deduction in
without deduction of

be, the expenditure so

such sum was paid


g of return.

he case may be, the

name called, which is


eductible.

tible.

been made to ensure

ble in the hands of

ermissible limit:
ermissible limit:

all not be allowed as

siness of the taxpayer,


e by the Assessing

en made otherwise
000 (Rs. 35,000 in case

be allowed as

duction.
tion (other than
80CCD) shall not be

n 36(1)(xviii).

income:-
ties or services, etc.
l oil, etc.
ign currency (to
reign exchange rates
y on actual payment of

acquired by the
ift, will etc. from the
st of acquisition in the
ment made
able to
in shipping business
in activities
ration of mineral oils

in the business of
s receipts exceed Rs.
he previous year

eeds Rs. 25,00,000 in


eding the previous

ds Rs. 2,50,000 in any


ng the previous year

eds Rs. 2 Crore in any

previous year, in case


gross receipt or total

ate of 6% in respect of
eived by an account
earing system.

total gross receipt.

weight for every


which the heavy
ee.

of a month during
d by assessee.

vehicle the gross


grams.
Treatment_of_Income_from_Different_Sources Home

II. Income under the House Properties


A Basis of Charge [Section 22]:
Income from house property shall be taxable under this head if following conditions are satisfied:
(a) The house property should consist of any building or land appurtenant thereto;
(b) The taxpayer should be the owner of the property;
(c ) The house property should not be used for the purpose of business or profession carried on by the taxpayer.
B Computation of income from house property:
Income from a house property shall be determined in the following manner:
S.N. Particulars Amount
1 Gross Annual value [Sec. 23(1)] Rs 18,000
(The Gross Annual Value of the house property shall be higher of following:
(a) Expected rent, i.e., the sum for which the property might reasonably be expected to be let out from year to year.
Expected rent shall be higher of municipal valuation or fair rent of the property, subject to maximum of standard
rent;
Rs 15,000
(b) Rent actually received or receivable after excluding unrealized rent but before deducting loss due to vacancy Rs 18,000
2 Less: Municipal Taxes Rs 500

Municipal taxes including service-taxes levied by any local authority in respect of house property is allowed as deduction, if:
(a) Taxes are borne by the owner; and
(b) Taxes are actually paid by him during the year.
3 Net Annual Value Rs 17,500
4 Less: Standard deduction at 30% [Section 24(a)] Rs 5,250
30% of net annual value of the house property is allowed as deduction if property is let-out during the previous year.
5 Less: Interest on borrowed capital [Section 24(b)] Rs 45,000
(a) In respect of let-out property, actual interest incurred on capital borrowed for the purpose of acquisition,
construction, repairing, re-construction shall be allowed as deduction
(b) In respect of self-occupied residential house property, interest incurred on capital borrowed for the purpose of
acquisition or construction of house property shall be allowed as deduction up to Rs. 2 lakhs. The deduction shall be
allowed if capital is borrowed on or after 01-04-1999 and acquisition or construction of house property is completed
within 5 years.

(c ) In respect of self-occupied residential house property, interest incurred on capital borrowed for the purpose of
reconstruction, repairs or renewals of a house property shall be allowed as deduction up to Rs. 30,000.

* Deduction for interest on borrowed capital shall be limited to Rs. 30,000 in following circumstances:
(a) If capital is borrowed before 01-04-1999 for the purpose of purchase or construction of a house property;
(b) If capital is borrowed on or after 01-04-1999 for the purpose of re-construction, repairs or renewals of a house
property;

(c ) If capital is borrowed on or after 01-04-1999 but construction of house property is not completed within five years
from end of the previous year in which capital was borrowed.

6 Income from house property Rs (32,750)


With effect from Assessment Year 2020-21, deduction for interest paid or payable on borrowed capital shall be allowed in respect of two self-
occupied house properties. However, the aggregate amount of deduction under this provision shall remain same i.e., Rs. 30,000 or Rs. 2,00,000,
as the case may be.
:
* Any interest pertaining to the period prior to the year of acquisition/ construction of the house property shall be allowed as deduction in five
equal installments, beginning with the year in which the property was acquired/ constructed.

C Deduction for interest on housing loan [Section 80EE]


Deduction of up to Rs 50,000 shall be allowed to an Individual for interest payable on loan taken for the purpose of acquisition of a house property
subject to following conditions:

(a) Loan has been sanctioned by Financial institution during the financial year 2016-17;
(b) The amount of loan sanctioned does not exceed Rs 35,00,000;
(c ) The value of residential property does not exceed Rs 50,00,000;
(d) The assessee does not own any residential house property on the date of sanction of loan;
(e) Where deduction has been allowed under this section, no deduction shall be allowed in respect of such interest under any other provision.
: Computation of Income from House Property

S. No. Property Type Gross Annual Deduction Net Standard Interest on borrowed capital
Value of the for Annual Deduction
property municipal Value of
taxes the
property

1 Self-occupied house Nil Nil Nil Nil Deduction for interest on borrowed capital is
property/properties allowed up to Rs. 30,000 or Rs. 2,00,000, as the
case may be.

2 House property could not be Nil Nil Nil Nil Deduction for interest on borrowed capital is
occupied by the owner due to allowed up to Rs. 30,000 or Rs. 2,00,000, as the
employment or business case may be.
carried on at any other place

3 Let out property To be computed Allowed on Gross annual 30% of Net Entire amount of interest paid or payable on
as per provisions actual value lessMu Annual Value borrowed capital shall be allowed as deduction.
of Section 23(1) payment basis nicipal taxes Pre-construction interest shall be allowed as
deduction in 5 annual equal installments (Subject
to certain conditions).

4 More than two-self occupied Only two properties selected by the taxpayer will be considered as self-occupied house properties and all other
properties properties shall be deemed to be let-out for the purpose of computation of income under the head house
property.

5 Self-occupied The house will be taken as let-out property and no concession shall be available for the duration during which
property/properties let-out for the property was self-occupied.
the part of the year

6 One part of the property is let- Each part of the property shall be considered as separate property and income will be computed accordingly
out and other part is used for
self-occupied purposes
D Composite Rent:
If letting out of building along with movable assets i.e., machinery, plan, furniture or fixtures, etc. forms part of a single transaction and are inseparable,
the composite rent shall be taxable under the head “Profits and gains from business or profession” or “Income from other sources”, as the case may be.
On the other hand, if the letting out of building is separable from letting of other assets, then income from letting out of building shall be taxable under
the head “Income from house property” and income from letting out of other assets shall be taxable under the head “Profits and gains from business or
profession” or “Income from other sources”, as the case may be.

E Treatment of unrealized rent and arrears of rent [Explanation to section 23(1)]


Deduction for unrealized rent:
Unrealized rent is that portion of rental income which the owner could not realize from the tenant. Unrealized rent is allowed to be deducted
from actual rent received or receivable only if the following conditions are satisfied:

(a) The tenancy is bona fide;


(b) The defaulting tenant has vacated, or steps have been taken to compel him to vacate the property;
(c ) The defaulting tenant is not in occupation of any other property of the assessee;
(d) The taxpayer has taken all reasonable steps to institute legal proceedings for the recovery of the unpaid rent or satisfies the Assessing
Officer that legal proceedings would be useless.

F Arrears of rent or recovery of unrealized rent [Section 25A]


Amount received in respect of arrears of rent or any subsequent recovery of unrealized rent shall be deemed to be the income of taxpayer under the head
"Income from house property" in the year in which such rent is realized or received (whether or not the assessee is the owner of that property in that
year). Further, 30% of such rent shall be allowed as deduction.
G Co-owner and Deemed Owner
Property owned by co-owners [Section 26]: Deemed owner [Section 27]:
If house property is owned by co-owners and their share in Income from house property is taxable in the hands of its owner. However, in
house property is definite and ascertainable than the income the following cases, legal owner is not considered as the real owner of the
of such house property will be assessed in the hands of each property and someone else is considered as the deemed owner of the
property to pay tax on income earned from such house property:
co-owner separately. For the purpose of computing income
from house property, the annual value of the property will be
taken in proportion to their share in the property. In such a 1 An individual, who transfers otherwise than for adequate
case, each co-owner shall be entitled to claim benefit of self- consideration any house property to his or her spouse, not being
occupied house property in respect of their share in the a transfer in connection with an agreement to live apart, or to a
property (subject to prescribed conditions). However, where minor child not being a married daughter, shall be deemed to be
the shares of co-owners are not definite, the income of the the owner of the house property so transferred;
property shall be assessed as that of an Association of persons.
2 The holder of an impartible estate shall be deemed to be the
individual owner of all the properties comprised in the estate;

3 A member of a co-operative society, company or other


association of persons to whom a building or part thereof is
allotted or leased under a house building scheme shall be
deemed to be the owner of that building or part thereof;

4 A person who is allowed to take or retain possession of any


building or part thereof in part performance of a contract of the
nature referred to in Section 53A of the Transfer of Property Act,
1882 shall be deemed to be the owner of that building or part
thereof;

5 A person who acquires any rights (excluding any rights by way of


a lease from month to month or for a period not exceeding one
year) in or with respect to any building or part thereof, by virtue
of any such transaction as is referred to in section 269UA(f), shall
be deemed to be the owner of that building or part thereof.
Home

Amount
Rs 18,000

Rs 15,000
Rs 18,000
Rs 500

Rs 17,500
Rs 5,250

Rs 45,000
Rs (32,750)
spect of two self-
000 or Rs. 2,00,000,

s deduction in five

ouse property

other provision.
wed capital

owed capital is
. 2,00,000, as the

owed capital is
. 2,00,000, as the

or payable on
wed as deduction.
be allowed as
nstallments (Subject

erties and all other


e head house

tion during which

uted accordingly
nd are inseparable,
s the case may be.
l be taxable under
ns from business or

d to be deducted

sfies the Assessing

ayer under the head


property in that
owner. However, in
eal owner of the
wner of the
operty:

for adequate
er spouse, not being
to live apart, or to a
all be deemed to be
red;

eemed to be the
ised in the estate;

ny or other
r part thereof is
heme shall be
part thereof;

ossession of any
of a contract of the
sfer of Property Act,
at building or part

any rights by way of


not exceeding one
rt thereof, by virtue
ction 269UA(f), shall
or part thereof.
Treatment_of_Income_from_Different_Sources

1 SALARY
: Salary is defined to include:
(a) Wages
(b) Annuity
(c) Pension
(d) Gratuity
(e) Fees, Commission, Perquisites, Profits in lieu of or in addition to Salary or Wages
(f) Advance of Salary
(g) Leave Encashment
(h) Annual accretion to the balance of Recognized Provident Fund
(i) Transferred balance in Recognized Provident Fund
(j) Contribution by Central Government or any other employer to Employees Pension Account as referred in Sec. 80CCD

: Place of accrual of salary:


(a) Salary accrues where the services are rendered even if it is paid outside India;
(b) Salary paid by the Foreign Government to his employee serving in India is taxable under the head Salaries;
(c) Leave salary paid abroad in respect of leave earned in India shall be deemed to accrue or arise in India.
Exceptions - If a Citizen of India render services outside India, and receives salary from Government of India, it would be
taxable as salary deemed to have accrued in India.
: Key Points
(a) Salary income is chargeable to tax on “due basis” or “receipt basis” whichever is earlier.
(b) Existence of relationship of employer and employee is must between the payer and payee to tax the income under this
(c) head.
Income from salary taxable during the year shall consists of following:
(c)
i. Salary due from employer (including former employer) to taxpayer during the previous year, whether paid or not;
ii. Salary paid by employer (including former employer) to taxpayer during the previous year before it became due;
iii. Arrear of salary paid by the employer (including former employer) to taxpayer during the previous year, if not charged
to tax in any- Remuneration,
Exceptions earlier year; bonus or commission received by a partner from the firm is not taxable under the head
Salaries rather it would be taxable under the head business or profession.
: Taxability of various components of salary:
Section Particulars
17 Basic salary
17 Dearness Allowance (referred to as ‘DA’)
17 Bonus, fees or commission
A. Allowances
10(13A) read House rent allowance (Least of the following is exempt)
with Rule 2A (a) Actual HRA Received
(b) 40% of Salary (50%, if house situated in Mumbai,
Calcutta, Delhi or Chennai)
(c) Rent paid minus 10% of salary

* Salary = Basic + DA (if part of retirement benefit) + Turnover based Commission


10(14) Children education allowance

10(14) Hostel expenditure allowance

10(14) Transport Allowance granted to an employee to meet


expenditure for the purpose of commuting between
place of residence and place of duty

Sec. 10(14) Allowance granted to an employee working in any


transport business to meet his personal expenditure
during his duty performed in the course of running of
such transport from one place to another place provided
employee is not in receipt of daily allowance.
10(14) Conveyance allowance granted to meet the expenditure
on conveyance in performance of duties of an office

10(14) Travelling allowance to meet the cost of travel on tour or


on transfer
10(14) Daily allowance to meet the ordinary daily charges
incurred by an employee on account of absence from his
normal place of duty

10(14) Helper/Assistant allowance

10(14) Research allowance granted for encouraging the


academic research and other professional pursuits

10(14) Uniform allowance

10(7) Any allowance or perquisite paid or allowed by


Government to its employees (an Indian citizen) posted
outside India

- Allowances to Judges of High Court/Supreme Court


(Subject to certain conditions)
10(45) Following allowances and perquisites given to serving
Chairman/Member of UPSC is exempt from tax:
1 Value of rent free official residence
2 Value of conveyance facilities including transport
3 allowance
Sumptuary allowance
4 Leave travel concession
Allowances paid by the UNO to its employees
10(45) Allowances to Retired Chairman/Members of UPSC
(Subject to certain conditions)

10(14) read Special compensatory Allowance (Hilly Areas) (Subject to


with Rule 2BB certain conditions and locations)

10(14) read Border area, Remote Locality or Disturbed Area or


with Rule 2BB Difficult Area Allowance (Subject to certain conditions
and locations)

10(14) read Tribal area allowance in (a) Madhya Pradesh (b) Tamil
with Rule 2BB Nadu (c) Uttar Pradesh (d) Karnataka (e) Tripura (f) Assam
(g) West Bengal (h) Bihar (i) Orissa

10(14) read Compensatory Field Area Allowance. If this exemption is


with Rule 2BB taken, employee cannot claim any exemption in respect
of border area allowance

10(14) read Compensatory Modified Area Allowance. If this


with Rule 2BB exemption is taken, employee cannot claim any
exemption in respect of border area allowance

10(14) read Counter Insurgency Allowance granted to members of


with Rule 2BB Armed Forces operating in areas away from their
permanent locations.
10(14) read Underground Allowance to employees working in
with Rule 2BB uncongenial, unnatural climate in underground mines

10(14) read High Altitude Allowance granted to armed forces


with Rule 2BB operating in high altitude areas (Subject to certain
conditions and locations)

Sec. Highly active field area allowance granted to members of


10(14) read armed forces
with Rule 2BB

Sec. Island Duty Allowance granted to members of armed


10(14) read forces in Andaman and Nicobar and Lakshadweep group
with Rule 2BB of Island

10(14) City Compensatory Allowance


10(14) Fixed Medical Allowance
10(14) Tiffin, Lunch, Dinner or Refreshment Allowance
10(14) Servant Allowance
10(14) Project Allowance
10(14) Overtime Allowance
10(14) Telephone Allowance
10(14) Holiday Allowance
10(14) Any Other Cash Allowance
B. Perquisites
17(2)(i)/(ii) Rent free unfurnished accommodation provided to
read with Rule Central and State Government employees
3(1)

17(2)(i)/(ii) Unfurnished rent free accommodation provided to other


read with Rule employees
3(1)

(a) If house property is owned by the employer, the taxable value of perquisite shall be:
i 15% of salary, if population of city where accommodation is provided exceeds 25 lakhs
ii 10% of salary, if population of city where accommodation is provided exceeds 10 lakhs but does not exceed 25
iii lakhs
7.5% of salary, if accommodation is provided in any other city
(b) If house property is taken on lease or rent by the employer, the taxable value of perquisite shall be: i. Lease rent
paid or payable by the employer or 15% of the salary, whichever is lower
Note: Key point relating to Salary in this purpose
*Salary includes:
(a) Basic Pay, (b) Dearness Allowance (only to the
extent it forms part of retirement benefit salary),
(c) Bonus,(d) Commission,(e) All other allowances
(only taxable portion),(f) Any monetary payment
which is chargeable to tax

17(2)(i)/(ii) Rent free furnished accommodation-Taxable value of perquisites shall be computed in following manner:
read with Rule (a) Taxable value of perquisite assuming accommodation to be provided to the employee is unfurnished
3(1)
(b) Add: 10% of original cost of furniture and fixtures (if these are owned by the employer) or actual higher charges
paid or payable (if these are taken on rent by the employer).
read with Rule
3(1)

(c) Less: The value so determined shall be reduced by the amount of rent, if any, recovered from the employee

17(2)(i)/(ii) Accommodation provided in a hotel-Taxable value of perquisite shall be lower of following:


read with Rule (a) Actual charges paid or payable by the employer to such hotel; or
3(1)
(b) 24% of salary
Hotel accommodation will not be chargeable to tax if : a) It is provided for a total period not exceeding in
aggregate 15 days in the financial year; and b) Such accommodation in hotel is provided on employee’s transfer
from one place to another place.

17(2)(viii) read Motor Car / Other Conveyance-Taxable value of perquisites (Motor Car (taxable only in case of specified employees
with Rule 3(2) except when car owned by the employee is used by him or members of his household wholly for personal purposes and
for which reimbursement is made by the employer)

17(2)(iv) ) sum paid by employer in respect of any obligation of


Any
an employee
17(2)(viii) read Services of a domestic servant including sweeper,
with Rule 3(3) gardener, watchmen or personal attendant (taxable only
in case of specified employee

17(2)(viii) read Supply of gas, electricity or water for household purposes


with Rule 3(4)
➢ Manufacturing cost per unit incurred by the employer., if provided from resources owned by the employer;

➢ Amount paid by the employer, if purchased by the employer from outside agency
Note:
1. Any amount recovered from the employee shall be deducted from the taxable value of perquisite.
2. Taxable in case of specified employees only [See note 4]
17(2)(viii) read Education Facilities
with Rule 3(5)

17(2)(viii)read Transport facilities provided by the employer engaged in


with Rule 3(6) carriage of passenger or goods (except Airlines or
Railways)

17(2)(v) Amount payable by the employer to effect an insurance


on life of employee or to effect a contract for an annuity

17(2)(vi) read ESOP/ Sweat Equity Shares


with Rule
3(8)/3(9)

Fair Market Value shall be determined as follows:


(a) In case of listed Shares: Average of opening and closing price as on date of exercise of option (Subject to certain
conditions and circumstances)
(b) In case of unlisted shares/ security other than equity shares: Value determined by a Merchant Banker as on date
of exercise of option or an earlier date, not being a date which is more than 180 days earlier than the date of
exercise of the option.

17(2)(vii) Employer’s contribution towards superannuation fund

17(2)(viii) read Interest free loan or Loan at concessional rate of interest


with Rule 3(7)
(i)

(a) Find out the “maximum outstanding monthly balance” (i.e. the aggregate outstanding balance for each loan as
on the last day of each month);
(b) Find out rate of interest charged by the SBI as on the first day of relevant previous year in respect of loan for the
same purpose advanced by it;
(c) Calculate interest for each month of the previous year on the outstanding amount (mentioned in Step 1) at the
rate of interest given in Step 2
(d) From the total interest calculated for the entire previous year (step 3), deduct interest actually recovered, if any,
from employee
(e) The balance amount (Step 3-Step 4) is taxable value of perquisite
Nothing is taxable if:
i Loan in aggregate does not exceed Rs. 20,000; or
ii Loan is provided for treatment of specified diseases (Rule 3A) like neurological diseases, Cancer, AIDS, Chronic
renal failure, Hemophilia (specified diseases). However, exemption is not applicable to so much of the loan as
has been reimbursed to the employee under any medical insurance scheme.

17(2)(viii) Facility of travelling, touring and accommodation availed


read with Rule of by the employee or any member of his household for
3(7)(ii) any holiday

17(2)(viii) read Free food and beverages provided to the employee


with Rule 3(7) 1 Fully Taxable:
(iii)

2 Exempt from tax:


(a) Food and non-alcoholic beverages provided during working hours in remote area or in an offshore installation;

(b) Tea, Coffee or Non-Alcoholic beverages and Snacks during working hours are tax free perquisites;
(c) Food in office premises or through non-transferable paid vouchers usable only at eating joints provided by an
employer is not taxable, if cost to the employer is Rs. 50(or less) per meal.

17(2)(viii) read Gift or Voucher or Coupon on ceremonial occasions or


with Rule 3(7) otherwise provided to the employee
(iv)

17(2)(viii) read Credit Card


with Rule 3(7) (a) Expenditure incurred by the employer in respect of credit card used by the employee or any member of his
(v) household less amount recovered from the employee is a taxable perquisite

(b) Expenses incurred for official purposes shall not be a taxable perquisite provided complete details in respect of
such expenditure are maintained by the employer
17(2)(viii) read Free Recreation/ Club Facilities
with Rule 3(7) (a) Expenditure incurred by the employer towards annual or periodical fee etc. (excluding initial fee to acquire
(vi) corporate membership) less amount recovered from the employee is a taxable perquisite
(b) Expenses incurred on club facilities for the official purposes are exempt from tax.
(c) Use of health club, sports and similar facilities provided uniformly to all employees shall be exempt from tax.

17(2)(viii) read Use of movable assets of the employer by the employee


with Rule 3(7) is a taxable perquisite
(vii)
(a) Use of Laptops and Computers:
(b) Movable asset other than Laptops, computers
and Motor Car*:
Motor Car (taxable only in case of specified employees [See note 4] except when car owned by the employee is
used by him or members of his household wholly for personal purposes and for which reimbursement is made
by the employer)

S. No. Engine Capacity up to 1600 cc


1 Motor Car is owned or hired by the employer-
1.1 Where maintenances and running expenses including remuneration of the chauffeur are met or reimbursed by
the employer.
1.1-A Used exclusively for the personal purposes of the employee or any member of his household.
Fully exempt subject to maintenance of specified
documents

1.1-B Used exclusively for the personal purposes of the employee or any member of his household.
Actual amount of expenditure incurred by the employer on the running and maintenance of motor car including
remuneration paid by the employer to the chauffeur and increased by the amount representing normal wear
and tear of the motor car at 10% per annum of the cost of vehicle less any amount charged from the employee for such
use is taxable value of perquisite.

1.1-C The motor car is used partly in the performance of duties and partly for personal purposes of the employee or
any member of his household.
Rs. 1,800 per month (plus Rs. 900 per month, if
chauffeur is also provided to run the motor car) shall be
taxable value of perquisite

1.2 Where maintenances and running expenses are met by the employee.
1.2-A Used wholly and exclusively in the performance of official duties.
Not a perquisite, hence, not taxable
1.2-B Used exclusively for the personal purposes of the employee or any member of his household
1.2-B
Expenditure incurred by the employer (i.e. hire charges, if car is on rent or normal wear and tear at 10% of actual
cost of the car, if car is owned by the employer) plus salary of chauffeur if paid or payable by the employer minus amount
recovered from the employee.

1.2-C The motor car is used partly in the performance of duties and partly for personal purposes of the employee or
any member of his household

Rs. 600 per month (plus Rs. 900 per month, if


chauffeur is also provided to run the motor car) shall be
taxable value of perquisite

2 Motor Car is owned by the employee


2.1 Where maintenances and running expenses including remuneration of the chauffeur are met or reimbursed by
the employer.

2.1-A The reimbursement is for the use of the vehicle wholly and exclusively for official purposes
Fully exempt subject to maintenance of specified
documents

2.1-B The reimbursement is for the use of the vehicle exclusively for the personal purposes of the employee or any
member of his household (taxable in case of specified employee as well as non-specified employee)

Actual expenditure incurred by the


employer minus amount recovered from the employee

2.1-C The reimbursement is for the use of the vehicle partly for official purposes and partly for personal purposes of
the employee or any member of his household.
2.1-C

Actual expenditure incurred by the


employer minus Rs. 1800 per month and Rs. 900 per
month if chauffer is also provided minusamount recovered
from employee shall be taxable value of perquisite.

3 Where the employee owns any other automotive conveyance and actual running and maintenance charges are met or
reimbursed by the employer

3.1 Reimbursement for the use of the vehicle wholly and exclusively for official purposes;
Fully exempt subject to maintenance of specified
documents
3.2 Reimbursement for the use of vehicle partly for official purposes and partly for personal purposes of the
employee.
Actual expenditure incurred by the employer as
reduced by Rs. 900 per month
17(2)(viii) read Transfer of movable assets by an employer to its
with Rule 3(7) employee
(viii)
(a) Computers, Laptop and Electronics items: Actual cost of asset less depreciation at 50% (using reducing balance
method) for each completed year of usage by employer less amount recovered from the employee

(b) Motor Car: Actual cost of asset less depreciation at 20% (using reducing balance method) for each completed
year of usage by employer less amount recovered from the employee
(c) Other movable assets: Actual cost of asset less depreciation at 10% (on SLM basis) for each completed year of
usage by employer less amount recovered from the employee.
17(2)(viii) read Any other benefit or amenity extended by employer to
with Rule 3(7) employee
(ix)
17(2)(viii) read
with Rule 3(7)
(ix)

However, expenses on telephones including a mobile phone incurred by the employer on behalf of employee
shall not be treated as taxable perquisite.
10(10CC) Tax paid by the employer on perquisites (not provided for
by way of monetary payments) given to employee

10(5) Leave Travel Concession or Assistance (LTC/LTA), extended


by an employer to an employee for going anywhere in
India along with his family*

*Family includes spouse, children and dependent


brother/sister/parents. However, family doesn’t
include more than 2 children of an Individual
born on or after 01-10-1998.

(Subject to certain conditions)


• Where journey is performed by Rail - Exemption up to air-conditioned first class rail fare by the shortest route

• If places of origin of journey and destination are connected by rail but the journey is performed by any other
mode of transport - Exemption up to air-conditioned first class rail fare by the shortest route.
• Where the places of origin of journey and destination are not connected by rail:
* Where a recognized public transport system exists - Exemption up to first Class or deluxe class fare by the
shortest
* Where route
no recognized public transport system exists - Exemption up to air conditioned first class rail fare by
shortest route.

Notes:
Proviso to Medical facilities in India
section 17(2) (a) Expense incurred or reimbursed by the employer for the medical treatment of the employee or his family
(spouse and children, dependent - parents, brothers and sisters) in any of the following hospital is not
chargeable to tax in the hands of the employee:

i Hospital maintained by the employer.


ii Hospital maintained by the Government or Local Authority or any other hospital approved by Central
Government

iii Hospital approved by the Chief Commissioner having regard to the prescribed guidelines for treatment of the
prescribed diseases.
(b) Medical insurance premium paid or reimbursed by the employer is not chargeable to tax.
Proviso to Medical facilities outside India
section 17(2)

(a) Expenses on medical treatment - exempt to the extent permitted by RBI.


(b) Expenses on stay abroad for patient and one attendant - exempt to the extent permitted by RBI.
(c) Expenditure incurred on travelling of patient and one attendant- exempt, if Gross Total Income (before including
the travel expenditure) of the employee, does not exceed Rs. 2,00,000.

C Deduction from salary


16(ia) Standard Deduction

16 (ii) Entertainment Allowance received by the Government


employees (Fully taxable in case of other employees)
16(iii) Employment Tax/Professional Tax.

D. Retirement Benefits
: Leave Encashment
10(10AA) Encashment of unutilized earned leave at the time of
retirement of Government employees
10(10AA) Encashment of unutilized earned leave at the time of
retirement of other employees (not being a Government
employee)

: Retrenchment Compensation
10(10B) Retrenchment Compensation received by a workman
under the Industrial Dispute Act, 1947 (Subject to certain
conditions).
10(10B) Retrenchment Compensation received by a workman
under the Industrial Dispute Act, 1947 (Subject to certain
conditions).

: Gratuity
10(10)(i) Gratuity received by Government Employees (Other than
10(10)(ii) employees of statutory corporations)
Death -cum-Retirement Gratuity received by other
employees who are covered under Gratuity Act, 1972
(other than Government employee) (Subject to certain
conditions).

10(10)(iii) Death -cum-Retirement Gratuity received by other


employees who are not covered under Gratuity Act, 1972
(other than Government employee) (Subject to certain
conditions).
: Pension
Pension received from United Nation Organization by the
employee of his family members

10(10A)(i) Commuted Pension received by an employee of Central


Government, State Government, Local Authority
Employees and Statutory Corporation

10(10A)(ii) Commuted Pension received by other employees who


also receive gratuity
10(10A)(iii) Commuted Pension received by other employees who do
not receive any gratuity
10(19) Family Pension received by the family members of Armed
57(iia) Forces
Family pension received by family members in any other
case
Voluntary Retirement
10(10C) Amount received on Voluntary Retirement or Voluntary
Separation (Subject to certain conditions)

: Provident Fund
Employee’s Provident Fund

: National Pension System (NPS)


10(12A)/ National Pension System
10(12B)

: Arrear of Salary and relief under section 89(1)


15 Arrear of salary and advance salary

89 Relief under Section 89

F. Other Benefits
- Lump-sum payment made gratuitously or by way of
compensation or otherwise to widow or other legal heirs
of an employee who dies while still in active service
[Circular No. 573, dated 21-08-1990]
- Ex-gratia payment to a person (or legal heirs) by Central
or State Government, Local Authority or Public Sector
Undertaking consequent upon injury to the person or
death of family member while on duty [Circular No. 776,
dated 08-06-1999]

- Salary received from United Nation Organization [Circular


No. 293, dated 10-02-1981]

10(6)(ii) Salary received by foreign national as an officials of an


embassy, high commission, legation, consulate or trade
representation of a foreign state
10(6)(vi) Remuneration received by non-resident foreign citizen as
an employee of a foreign enterprise for services rendered
in India, if:

(a) Foreign enterprise is not engaged in any trade or business in India


(b) His stay in India does not exceed in aggregate a period of 90 days in such previous year
(c ) Such remuneration is not liable to deducted from the income of employer chargeable under this Act
10(6)(viii) Salary received by a non-resident foreign national for
services rendered in connection with his employment on
a foreign ship if his total stay in India does not exceed 90
days in the previous year.

- Salary and allowances received by a teacher / professor


from SAARC member state (Subject to certain conditions).

2 Educational Facilities
Taxable only in the hands of specified employees
Facility extended to Value of perquisite
Provided in the school owned by the employer

Children Cost of such education in similar school less Rs.


1,000 per month per child (irrespective of
numbers of children) less amount recovered from
employee

Other family member Cost of such education in similar


school less amount recovered from employee

2.1 Other Educational Facilities


Particulars
Reimbursement of school fees of children or family member of
employees

Free educational facilities/ training of employees

3 Employees Provident Fund


Tax treatment in respect of contributions made to and payment from various provident funds are summarized in the table given below:

Statutory provident fund


Employers contribution to provident fund
Deduction under section 80C on employees contribution
Interest credited to provident fund
Payment received at the time of retirement or termination of service
Recognized provident fund
Employers contribution to provident fund
Deduction under section 80C on employees contribution
Interest credited to provident fund

Payment received at the time of retirement or termination of service

Unrecognized provident fund


Employers contribution to provident fund
Deduction under section 80C on employees contribution
Interest credited to provident fund
Payment received at the time of retirement or termination of service
Public provident fund
Employers contribution to provident fund
Deduction under section 80C on employees contribution
Interest credited to provident fund
Payment received at the time of retirement or termination of service
Key points
* Salary = Basic Pay + Dearness Allowance (to the extent it forms part of retirement benefits) + turnover based commission
Payment from recognized provident fund shall be exempt in the hands of employees in following circumstances:
(a)
If employee has rendered continue service with his employer (including previous employer, when PF account is
transferred to current employer) for a period of 5 years or more
(b)
If employee has been terminated because of certain reasons which are beyond his control (ill health, discontinuation of
business of employer, etc.)
Home

SALARY

n addition to Salary or Wages

ident Fund

employer to Employees Pension Account as referred in Sec. 80CCD

n if it is paid outside India;


oyee serving in India is taxable under the head Salaries;
in India shall be deemed to accrue or arise in India.
side India, and receives salary from Government of India, it would be

“receipt basis” whichever is earlier.


e is must between the payer and payee to tax the income under this
nsists of following:
oyer) to taxpayer during the previous year, whether paid or not;
yer) to taxpayer during the previous year before it became due;
former employer) to taxpayer during the previous year, if not charged
eceived by a partner from the firm is not taxable under the head
business or profession.
Taxability/Exemption
Fully taxable
Fully taxable
Fully taxable

Note:
i. Fully taxable, if HRA is received by an employee who is living
in his own house or if he does not pay any rent
ii. It is mandatory for employee to report PAN of the landlord
to the employer if rent paid is more than Rs. 1,00,000 [Circular
No. 08 /2013 dated 10-10-2013].

t of retirement benefit) + Turnover based Commission


Up to Rs. 100 per month per child up to a maximum of 2
children is exempt
Up to Rs. 300 per month per child up to a maximum of 2
children is exempt
Rs. 3,200 per month granted to an employee, who is blind or
deaf and dumb or orthopedically handicapped with disability
of lower extremities

Amount of exemption shall be lower of following:


a) 70% of such allowance; or
b) Rs. 10,000 per month.
Exempt to the extent of expenditure incurred for official
purposes

Exempt to the extent of expenditure incurred for official


purposes
Exempt to the extent of expenditure incurred for official
purposes

Exempt to the extent of expenditure incurred for official


purposes
Exempt to the extent of expenditure incurred for official
purposes

Exempt to the extent of expenditure incurred for official


purposes
Fully Exempt

Fully Exempt.

Fully Exempt
Fully Exempt
Exempt subject to maximum of Rs. 14,000 per month for
defraying the services of an orderly and for meeting expenses
incurred towards secretarial assistant on contract basis.

Amount exempt from tax varies from Rs. 300 to Rs. 7,000 per
month.

Amount exempt from tax varies from Rs. 200 to Rs. 1,300 per
month.

Up to Rs. 200 per month is exempt

Up to Rs. 2,600 per month is exempt (Subject to certain


conditions and locations)

Up to Rs. 1,000 per month is exempt (Subject to certain


conditions and locations)

Up to Rs. 3,900 per month is exempt.


If this exemption is taken, employee cannot claim any
exemption in respect of border area allowance (Subject to
certain conditions and locations)
Up to Rs. 800 per month is exempt

a) Up to Rs. 1,060 per month (for altitude of 9,000 to 15,000


feet) is exempt
b) Up to Rs. 1,600 per month (for altitude above 15,000 feet) is
exempt
Up to Rs. 4,200 per month is exempt (Subject to certain
conditions and locations)

Up to Rs. 3,250 per month is exempt (Subject to certain


conditions and locations)

Fully Taxable
Fully Taxable
Fully Taxable
Fully Taxable
Fully Taxable
Fully Taxable
Fully Taxable
Fully Taxable
Fully Taxable
License fees determined in accordance with rules framed by
Government for allotment of houses shall be deemed to be
the taxable value of perquisites.

Taxable value of perquisites

r, the taxable value of perquisite shall be:


ccommodation is provided exceeds 25 lakhs
ccommodation is provided exceeds 10 lakhs but does not exceed 25
ed in any other city
by the employer, the taxable value of perquisite shall be: i. Lease rent
the salary, whichever is lower
point relating to Salary in this purpose
But does not include
(a) Value of any perquisite, (b) Employer’s contribution to PF,
(c ) Benefits received at the time of retirement like gratuity,
pension etc.

of perquisites shall be computed in following manner:


mmodation to be provided to the employee is unfurnished
fixtures (if these are owned by the employer) or actual higher charges
by the employer).
uced by the amount of rent, if any, recovered from the employee

of perquisite shall be lower of following:


oyer to such hotel; or

le to tax if : a) It is provided for a total period not exceeding in


b) Such accommodation in hotel is provided on employee’s transfer

quisites (Motor Car (taxable only in case of specified employees


him or members of his household wholly for personal purposes and

Fully Taxable

Taxable value of perquisite shall be salary paid or payable by


the employer for such services less any amount recovered
from the employee.

Taxable value of perquisites:

e employer., if provided from resources owned by the employer;

by the employer from outside agency

ee shall be deducted from the taxable value of perquisite.


nly [See note 4]
Taxable value of perquisites (See Note 2 below)

Value at which services are offered by the employer to the


public less amount recovered from the employee shall be a
taxable perquisite

Fully Taxable

Fair Market value of shares or securities on the date of


exercise of option by the assessee less amount recovered from
the employee in respect of such shares shall be the taxable
value of perquisites.

g and closing price as on date of exercise of option (Subject to certain

han equity shares: Value determined by a Merchant Banker as on date


being a date which is more than 180 days earlier than the date of

Taxable in the hands of employee to the extent such


contribution exceeds Rs.1,50,000
Interest free loan or loan at concessional rate of interest given
by an employer to the employee (or any member of his
household) is a perquisite chargeable to tax in the hands of all
employees on following basis:

hly balance” (i.e. the aggregate outstanding balance for each loan as
as on the first day of relevant previous year in respect of loan for the

evious year on the outstanding amount (mentioned in Step 1) at the

ntire previous year (step 3), deduct interest actually recovered, if any,

ble value of perquisite

000; or
diseases (Rule 3A) like neurological diseases, Cancer, AIDS, Chronic
s). However, exemption is not applicable to so much of the loan as
er any medical insurance scheme.

a) Taxable value of perquisite shall be expenditure incurred by


the employer less amount recovered from employee.
b) Where such facility is maintained by the employer, and is
not available uniformly to all employees, the value of benefit
shall be taken to be the value at which such facilities are
offered by other agencies to the public.

Free meals in excess of Rs. 50 per meal less amount paid by


the employee shall be a taxable perquisite
Following free meals shall be exempt from tax:
d during working hours in remote area or in an offshore installation;

Snacks during working hours are tax free perquisites;


nsferable paid vouchers usable only at eating joints provided by an
oyer is Rs. 50(or less) per meal.

a) Gifts in cash or convertible into money (like gift cheque) are


fully taxable
b) Gift in kind up to Rs.5,000 in aggregate per annum would be
exempt, beyond which it would be taxable.

espect of credit card used by the employee or any member of his


employee is a taxable perquisite

ll not be a taxable perquisite provided complete details in respect of


mployer

ards annual or periodical fee etc. (excluding initial fee to acquire


ered from the employee is a taxable perquisite
official purposes are exempt from tax.
ties provided uniformly to all employees shall be exempt from tax.

Taxable value of perquisites

Nil
10% of original cost of the asset (if asset is owned by the
employer) or actual higher charges incurred by the employer
(if asset is taken on rent) lessamount recovered from
employee.
employees [See note 4] except when car owned by the employee is
wholly for personal purposes and for which reimbursement is made

Engine Capacity above 1600 cc

s including remuneration of the chauffeur are met or reimbursed by

of the employee or any member of his household.


Fully exempt subject to maintenance of specified documents

of the employee or any member of his household.


the employer on the running and maintenance of motor car including
chauffeur and increased by the amount representing normal wear
m of the cost of vehicle less any amount charged from the employee for such

ance of duties and partly for personal purposes of the employee or

Rs. 2,400 per month (plus Rs. 900 per month, if chauffeur is also
provided to run the motor car) shall be taxable value of perquisite

s are met by the employee.


ance of official duties.
Not a perquisite, hence, not taxable
of the employee or any member of his household
hire charges, if car is on rent or normal wear and tear at 10% of actual
oyer) plus salary of chauffeur if paid or payable by the employer minus amount

ance of duties and partly for personal purposes of the employee or

Rs. 900 per month (plus Rs. 900 per month, if chauffeur is also
provided to run the motor car) shall be taxable value of perquisite

s including remuneration of the chauffeur are met or reimbursed by

hicle wholly and exclusively for official purposes


Fully exempt subject to maintenance of specified documents

hicle exclusively for the personal purposes of the employee or any


of specified employee as well as non-specified employee)

Actual expenditure incurred by the employer minus amount


recovered from the employee

hicle partly for official purposes and partly for personal purposes of
hold.
Actual expenditure incurred by the employer minus Rs. 2400 per
month and Rs. 900 per month if chauffer is also provided minusamount
recovered from employee shall be taxable value of perquisite.

onveyance and actual running and maintenance charges are met or

wholly and exclusively for official purposes;


Fully exempt subject to maintenance of specified documents

y for official purposes and partly for personal purposes of the

Not Applicable

Taxable value of perquisites

Actual cost of asset less depreciation at 50% (using reducing balance


by employer less amount recovered from the employee

ation at 20% (using reducing balance method) for each completed


overed from the employee
less depreciation at 10% (on SLM basis) for each completed year of
from the employee.
Taxable value of perquisite shall be computed on the basis of
cost to the employer (under an arm’s length
transaction) less amount recovered from the employee.
g a mobile phone incurred by the employer on behalf of employee

Fully exempt

The exemption shall be limited to fare for going anywhere in


India along with family twice in a block of four years:

• Where journey is performed by Air - Exemption up to Air fare


of economy class in the National Carrier by the shortest route

mption up to air-conditioned first class rail fare by the shortest route

on are connected by rail but the journey is performed by any other


nditioned first class rail fare by the shortest route.
d destination are not connected by rail:
em exists - Exemption up to first Class or deluxe class fare by the
tem exists - Exemption up to air conditioned first class rail fare by

i. Two journeys in a block of 4 calendar years is exempt


ii. Taxable only in case of Specified Employees [See note 4]
ployer for the medical treatment of the employee or his family
brothers and sisters) in any of the following hospital is not
oyee:

r Local Authority or any other hospital approved by Central

ner having regard to the prescribed guidelines for treatment of the

rsed by the employer is not chargeable to tax.


Any expenditure incurred or reimbursed by the employer for
medical treatment of the employee or his family member
outside India is exempt to the extent of following (subject to
certain condition):

o the extent permitted by RBI.


e attendant - exempt to the extent permitted by RBI.
nt and one attendant- exempt, if Gross Total Income (before including
oes not exceed Rs. 2,00,000.

Rs. 50,000 or the amount of salary, whichever is lower (Any


salaried person & pensioners)
Least of the following is exempt from tax:
a) Rs 5,000
b) 1/5th of salary (excluding any allowance, benefits or other
perquisite)
c) Actual entertainment allowance received
Amount actually paid during the year. However, if professional
tax is paid by the employer on behalf of its employee than it is
first included in the salary of the employee as a perquisite and
then same amount is allowed as deduction.

Leave Encashment
Fully Exempt

Least of the following shall be exempt from tax:


a) Amount actually received
b) Unutilized earned leave* X Average monthly salary
c) 10 months Average Salary**
d) Rs. 3,00,000
* While computing unutilized earned leave, earned leave
entitlements cannot exceed 30 days for each completed year
of service rendered to the current employer

** Average salary = Average Salary*** of last 10 months


immediately preceding the retirement
***Salary = Basic Pay + DA (to the extent it forms part of
retirement benefits)+ turnover based commission
nchment Compensation
Least of the following shall be exempt from tax:
a) Amount calculated as per section 25F(b)of the Industrial
Disputes Act, 1947;
b) Rs. 5,00,000; or
c) Amount actually received
Note:
i. Relief under Section 89(1) is available
ii. 15 days average pay for each completed year of continuous
service or any part thereof in excess of 6 months is to be
adopted under section 25F(b) of the Industrial Disputes
Act,1947

Gratuity
Fully Exempt
Least of following amount is exempt from tax:
1. (*15/26) X Last drawn salary** X completed year of service
or part thereof in excess of 6 months.
2. Rs. 20,00,000
3. Gratuity actually received.
*7 days in case of employee of seasonal establishment.
** Salary = Last drawn salary including DA but excluding any
bonus, commission, HRA, overtime and any other allowance,
benefits or perquisite

Least of following amount is exempt from tax:


1. Half month’s Average Salary* X Completed years of service

2. Rs. 20,00,000
3. Gratuity actually received.
*Average salary = Average Salary of last 10 months
immediately preceding the month of retirement
** Salary = Basic Pay + DA (to the extent it forms part of
retirement benefits)+ turnover based commission
Pension
Fully Exempt

Fully Exempt

1/3 of full value of commuted pension will be exempt from tax

1/2 of full value of commuted pension will be exempt from tax

Fully Exempt
33.33% of Family Pension subject to maximum of Rs. 15,000
shall be exempt from tax
oluntary Retirement
Least of the following is exempt from tax:
1) Actual amount received as per the guidelines i.e. least of
the following
a) 3 months salary for each completed year of services
b) Salary at the time of retirement X No. of months of services
left for retirement; or
2) Rs. 5,00,000
Provident Fund
For taxability of contribution made to various employee’s
provident fund and interest arising thereon
nal Pension System (NPS)
Any payment from the National Pension System Trust to an
assessee on closure of his account or on his opting out of the
pension scheme referred to in section 80CCD, to the extent it
does not exceed 40% of the total amount payable to him at
the time of such closure or his opting out of the scheme.

Note: Partial withdrawal from NPS shall be exempt to the


extent of 25% of amount of contributions made by the
employee.

ry and relief under section 89(1)


Taxable in the year of receipt. However relief under section 89
is available

If an individual receives any portion of his salary in arrears or


in advance or receives profits in lieu of salary, he can claim
relief as per provisions of section 89 read with rule 21A

Other Benefits
Fully exempt in the hands of widow or other legal heirs of
employee
Fully exempt in the hands of individual or legal heirs

Fully exempt

Fully exempt if corresponding official in that foreign country


enjoys a similar exemption
Fully exempt

ade or business in India


ate a period of 90 days in such previous year
d from the income of employer chargeable under this Act
Fully exempt

Fully exempt

ucational Facilities
ds of specified employees
Value of perquisite
Provided in any other school

Amount incurred less amount recovered from employee (an


exemption of Rs. 1,000 per month per child is allowed)

Cost of such education incurred

er Educational Facilities
Taxable Value of Perquisites
Fully taxable

Fully exempt

oyees Provident Fund


om various provident funds are summarized in the table given below:

rovident fund
Fully Exempt
Available
Fully Exempt
Fully Exempt
provident fund
Exempt only to the extent of 12% of salary*
Available
Exempt only to the extent rate of interest does not exceed
9.5%
Fully Exempt (Subject to certain conditions and circumstances)

d provident fund
Fully Exempt
Not Available
Fully Exempt
Fully Taxable (except employee’s contribution)
ovident fund
-
Available
Fully Exempt
Fully Exempt
points
rt of retirement benefits) + turnover based commission
nds of employees in following circumstances:
employer (including previous employer, when PF account is
ears or more
n reasons which are beyond his control (ill health, discontinuation of
Home Useful_Income_Tax_information__Fo
(T)- Periods of Limitation

(V)-Various Threshold_Limits

(V-A)-Basic_Exemption_201920
IMPORTANT INCOME (V-B)-Under_the_head_Salaries_1920
TAX INFORMATION (F.Y.
2019-20) -LIMITATION
& THRRESHOLD LIMITS (V-C)-Under_the_head_Income_from_House_Properties_2
("T" to "V")
(V-D)-Under_the_head_Income_from_House_Properties_1

(V-E)-For_Trust_1920

(V-F)-Deductions_under_Chapter_VI_A_1920
T PERIODS OF LIMITATION (fo
Nature of compliance Filing application for getting zero coupon bonds notified.

Section 2(48)
Limitation of time 3 months before the date of issue of bonds

Remarks (but not earlier than 24 months immediately before the first day of the

U Securities Transaction Tax [Financ


Nature of compliance Sale of immovable property without written consent of
defaulter

Limitation of time Not until expiry of 30 days from date on which proclamation of sale has
TRO, whichever is later

V Various Threshold Limits (Minimum or maximum


(V-A) Basic Exemption
Particulars Surcharge shall be charged at the rate of 10% of income-tax if net incom
crore in case of Individual, HUF, AOP, BOI, Artificial judicial person (Subje

Threshold Limits
Rs. 50 lakh
(V-B)Under the head Salaries
Particulars Death -cum-Retirement Gratuity received by other employees who are n
Government employee)(Subject to certain conditions).
Section 10(10)
Threshold Limits (for Least of following amount is exempt from tax:1. 1/2 X Average Salary*
exemptions and Gratuity actually received.
others)
Remark [*Average salary = Average Salary of last 10 months immediately preced
Dearness Allowance (to the extent it forms part of retirement benefits)+ t

(V-C)Under the head Income from House Properties


Particulars Interest incurred on borrowed capital for re-construction,
repair or renewal of self-occupied house property
(Subject to certain conditions)

Threshold Limits

(V-D) Under the head Profits and Gains of Business or Profession


Pariticular of If value adopted for stamp duty exceeds the consideration received on t
expemtion value shall be deemed to be the full value of consideration.

Threshold Limits However, if stamp duty value does not exceed 105% of the consideration
deemed to be the full value of consideration

Section 43CA
Remark

(V-E) For Trust


Particulars Activity for advancement of any other object of general public utility sha

Section 2(15)
Threshold limits 25% of total receipts of financial year.
Remark (If activity is undertaken in course of carrying out of object of general pu
do not exceed )
Remark (If activity is undertaken in course of carrying out of object of general pu
do not exceed )
(V-F) Deductions under Chapter VI-A
Particulars Expenses actually paid by resident individual and HUF for medical treatm
remark..>

Section 80DDB
Threshold Limits Up to Rs. 40,000 (Rs. 1,00,000 in case of senior citizen)
Remark a) In case of Individual: Assessee himself or wholly dependent spouse, ch
HUF: Any member of the family who is wholly dependent upon the fami
x_information__For_Fin._Year_2019_20
(U)-Securities Transaction Tax

House_Properties_201920

House_Properties_1920

_1920
OF LIMITATION (for F.Y. 2019-20)
notified.

2(48)

fore the first day of the financial year in which bonds are to be issued)

action Tax [Finance (No. 2) Act, 2004]


Section

Schedule II Part III, Rule 55


roclamation of sale has been affixed on the property or in the office of the

imum or maximum valie) under the Income Tax Act


ncome-tax if net income is above Rs. 50 Lakh but it does not exceed Rs. 1
al judicial person (Subject to Marginal relief)

Rs. 50 lakh

er employees who are not covered under Gratuity Act, 1972 (other than
tions).
10(10)
1/2 X Average Salary* X Completed years of service,2. Rs. 10,00,000,3.

nths immediately preceding the month of retirement,**Salary = Basic Pay +


f retirement benefits)+ turnover based commission]

Section

24(b)
Up to Rs. 30,000
on
sideration received on transfer of an immovable property, the stamp duty
sideration.

5% of the consideration received, the consideration so received shall be

43CA

general public utility shall be considered as charitable activity

2(15)

t of object of general public utility and aggregate receipts from such activity
t of object of general public utility and aggregate receipts from such activity

HUF for medical treatment of specified diseases and ailments of: (see

80DDB
citizen)
lly dependent spouse, children, parents, brothers and sisters,b) In case of
ependent upon the family
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Under the head
Profits and Gains
of Business or
Profession

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Home
Home Useful_Income_Tax_information__For_Fi
"A" to " J" Deduction available to different categor
Deduction (A)-Salaries
avaiable for
Fin. Year (C)-Income from other sources --Deductible_items
2019-20
against (E)-Profit and gains of business or profession--Deductible items

(G)-Capital Gains

(I)-Rebate

DEDUCTIONS
(A)- Against 'salaries'
Nature of Standard Deduction [Rs. 50,000 or the amount of salary, whichever is lower]
deduction
Section Who can claim
16(ia) Individual – Salaried Employee
(B)-Against 'income from house properties'
Nature of Standard deduction [30% of the annual value (gross annual value less municip
deduction
Section Who can claim
24(a) All assessees
(C ) - Against 'income from other sources'…(A. Deductible items)
Nature of Contributions to any provident fund or superannuation fund or any fund set up
deduction or any other fund for welfare of employees,

Section Who can claim


57(ia) All assessees

(D)-Against 'income from other sources'…(B. Non-deductible items)


Nature of Interest chargeable to tax which is payable outside India on which tax has not
deduction
Section Who can claim
58(1)(a)(ii) All assessees
(E)- Against 'profits and gains of business or profession' ……(A. Deductible item
Nature of Expe nditure incurred for obtaining licence to operate telecommunication serv
deduction business or thereafter at any time during any previous year

Section Who can claim


35ABB All assessees
(F)- Against 'profits and gains of business or profession' ……(B. Non-deductible
Nature of Amount paid by way of royalty, licence fee, service fee, privilege fee, service
deduction whatever name called, which is levied exclusively on, or any amount which is

Section Who can claim


40(a)(iib) State Govt. undertakings

(G)-Against 'capital gains'


Nature of Long-term capital gains on transfer before 1-4-2006 of certain listed securities
deduction part of an eligible issue of capital (subject to certain conditions and limits)

Section Who can claim


54ED Any assessee
(H)- Against 'profits and gains of business or profession' ……(C. Other-deductib

Nature of In case of mineral oil concerns expenditure incurred remaining unallowed as r


deduction

Section Who can claim


42(2) Assessee whose business consists of prospecting for or
extraction or production of petroleum and natural gas and
who transfers any interest in such business
(I)-Rebate
Section Who can claim
87A Individual

(J)-For certain payments (Deduction u/s chapter VIA)


Section Who can claim
80C Individual/HUF

Nature of deduction
Investment in certain items (See view Deduction List for 80C)

Key points (if any)


The maximum tax exemption limit under Section 80C has been retained as Rs 1.5 Lakh only.

Deduction List for 80C


■ Life insurance premium for policy :
- in case of individual, on life of assessee, assessee's spouse and any child
- in case of HUF, on life of any member of the HUF
■ Sum paid under a contract for a deferred annuity :
- in case of individual, on life of the individual, individual's spouse and an
should not contain
- in case an option
of HUF, on to receive
life of any member cash payment
of the HUF in lieu of annuity)
■ Sum deducted from salary payable to Government servant for securing deferred annuity or
[qualifying amount limited to 20% of salary]
■ Contributions by an individual made under Employees' Provident Fund Scheme
■ Contribution to Public Provident Fund Account in the name of:
- in case of individual, such individual or his spouse or any child of such in
- in case of HUF, any member of HUF
■ Contribution by an employee to a recognised provident fund
■ Contribution by an employee to an approved superannuation fund
■ Subscription to any notified security or notified deposit scheme of the Central Governmen
Account
■ Amount Scheme hasdeposited
can be been notified
by anvide Notification
individual No.name
or in the 9/2015, dated
of girl 21.01.2015.
child Any sum
of an individual de
or in
individual is the legal
■ Subscription guardian.
to notified savings certificates [National Savings Certificates (VIII Issue)]
■ Contribution for participation in unit-linked Insurance Plan of UTI :
- in case of an individual, in the name of the individual, his spouse or any
- in case of a HUF, in the name of any member thereof
■ Contribution to notified unit-linked insurance plan of LIC Mutual Fund [Dhanaraksha 1989]
- in the case of an individual, in the name of the individual, his spouse or
- in the case of a HUF, in the name of any member thereof
■ Subscription to notified deposit scheme or notified pension fund set up by National Housin
Scheme/National Housing Banks
■ Tuition fees (excluding (Tax Saving)
development fees, Term Deposit
donations, Scheme,
etc.) paid by2008]
an individual to any univ
institution situated in India, for full time education of any 2 of his/her
■ Certain payments for purchase/construction of residential house property children
■ Subscription to notified schemes of (a) public sector companies engaged in providing long-
houses
■ Suminpaid
India for residential
towards notifiedpurposes/(b)
annuity plan authority
of LIC (Newconstituted under anyJeevan
Jeevan Dhara/New law forDhara-I/Ne
satisfying n
Jeevan Akshay-II/Jeewan
■ Subscription Akshay-III
to any units of any plan of LIC)
notified [u/sor10(23D)]
other insurer
Mutual Fund or the UTI (Equity Linke
■ Contribution by an individual to any pension fund set up by any mutual fund which is refer
Retirement Benefit
■ Subscription to Pension Fund)or debentures forming part of any approved eligible issue of
equity shares
financial institutions
■ Subscription to any units of any approved mutual fund referred to in section 10(23D), prov
subscribed only in
■ Term deposits for 'eligible issue
a fixed of capital'
period referred
of not less thanto above.with a scheduled bank, and which
5 years
and notified.
■ Subscription to notified bonds issued by the NABARD.
■ Deposit in an account under the Senior Citizen Savings Scheme Rules, 2004 (subject to cert
■ 5-year term deposit in an account under the Post Office Time Deposit Rules, 1981 (subject

Other important Key Po


The additional deduction is not subjected to ceiling limit of Rs. 1,50,000 as pr

Amount contributed to pension scheme or 10% of salary/gross total income*


otherwise 20% of gross total income.), whichever is less (subject to ceiling lim
80CCE) shall be allowed as deduction under section 80CCD(1).
Additional deduction to the extent of Rs. 50,000 shall also be available to the
additional deduction
Contribution made byisemployer
not subjected to ceiling
shall also limit ofasRs.
be allowed 1,50,000under
deduction as provid
sec
of the employee. However, amount of deduction could not exceed 10% of sal
Note:-
1. Deduction under section 80CCD(2) on account of contribution made by the
subjected to ceiling limit of Rs. 1,50,000 as provided under section 80CCE.
2. Addition deduction of Rs. 50,000 shall not be allowed in respect of contrib
under section 80CCD(1), i.e., limit of 10% of salary/gross total income
_information__For_Fin._Year_2019_20

e to different categories of Tax Payers


(B)-Income from House Properties

(D)-Income from other sources--Non deductible_items

(F)-Profit and gains of business or profession--Non Deductible items

(H)- Profit and gains of business or profession--Other Deductible items

(J)-For certain payments (Deduction u/s chapter VIA)

UCTIONS
A
salary, whichever is lower]

Key points (if any)

B
ss annual value less municipal taxes)]

Key points (if any)

le items) C
ation fund or any fund set up under Employees' State Insurance Act, 1948

Key points (if any)


if the same are credited to employees' accounts in relevant funds
before due date

tible items) D
e India on which tax has not been paid or deducted at source

Key points (if any)

……(A. Deductible items) E


rate telecommunication services either before commencement of such
ious year

Key points (if any)

……(B. Non-deductible items) F


ce fee, privilege fee, service charge or any other fee or charge, by
on, or any amount which is appropriated,

Key points (if any)


whether directly or indirectly, from a State Government
undertaking by the State Government

G
06 of certain listed securities or units invested in equity shares forming
in conditions and limits)

Key points (if any)


H
……(C. Other-deductible items)

ed remaining unallowed as reduced by proceeds of transfer

Key points (if any)


I
Nature of deduction
Tax rebate in case of individual resident in India, whose total
income does not exceed Rs. 3,50,000 quantum of rebate shall be
an amount equal to hundred per cent of such income-tax or an
amount of Rs. 2,500, whichever is less.

J
Who can claim
Individual/HUF
Deduction List for 80C
of deduction

ints (if any)


ed as Rs 1.5 Lakh only.

on List for 80C

ssee's spouse and any child of assessee


HUF

individual's spouse and any child of the individual (however, contract


ment in lieu of annuity)
HUF
ecuring deferred annuity or making provision for his wife/children
nt Fund Scheme

ouse or any child of such individual

und
of the Central Government. For this purpose, Sukanya Samriddhi
ted 21.01.2015.
l child Any sum
of an individual deposited
or in the name during
of thethe
girlyear
childinfor
Sukanya
whom such an
ertificates (VIII Issue)]
TI :
dividual, his spouse or any child of such individual
thereof
al Fund [Dhanaraksha 1989]
he individual, his spouse or any child of such individual
mber thereof
d set up by National Housing Bank [Home Loan Account
, 2008]
by an individual to any university, college, school or other educational
her children
e property
engaged in providing long-term finance for purchase/construction of
nder anyJeevan
ra/New law forDhara-I/New
satisfying need for housing
Jeevan accommodation
Akshay/New or for
Jeevan Akshay-I/New
und or the UTI (Equity Linked Saving Scheme, 2005)
mutual fund which is referred to in section 10(23D) or by the UTI (UTI
y approved eligible issue of capital made by a public company or public
to in section 10(23D), provided amount of subscription to such units is
scheduled bank, and which is in accordance with a scheme11 framed

Rules, 2004 (subject to certain conditions)


eposit Rules, 1981 (subject to certain conditions)

r important Key Points


ng limit of Rs. 1,50,000 as provided under section 80CCE.

f salary/gross total income*(*10% of salary in case of employees


is less (subject to ceiling limit of Rs. 1,50,000 as provided under Section
on 80CCD(1).
shall also be available to the assessee undersection 80CCD(1B). The
mit
wedofasRs. 1,50,000under
deduction as provided
sectionunder section 80CCE.
80CCD(2)while computing total income
could not exceed 10% of salary of the employee.
of contribution made by the employer to a pension scheme is not
ded under section 80CCE.
llowed in respect of contribution which is considered for deduction
y/gross total income
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Income Tax Calculation and find out Tax Rate/Surcharge/Cess from Fin. Year 1985-86 to 2019-20
Design & Prepaired by Pravesh Kumar Sharma, Account
Hint Input value (in Rs ) where an errow sign 9460100093 or write mail to praveshbkn@gmail.com
query/error/updation/suggestion
Relevant Financial Year (Select F.Y.) 2019-20 Relevant Assesment Year
Tax Category (Select tax cate.) Male Basic Exemption
Gross Taxable Income Rs 20,000,100 Age Condition
(if it is defined)
Income Tax Rate for Fin.Year 2019-20
Less-: Ded. under chapter VI A Rs -
Total Income (Rounded off u/s 288A) Rs 20,000,100 Income Range
Income tax on Total Income Rs 5,812,530 Upto Rs. 250000
Less-: Rebate u/s 88 (Applicable upto F.Y. 2004-05 ) Rs - Rs. 250001 to 500000
Less-: Rebate u/s 88B (Applicable upto F.Y. 2004-05 ) Rs - Rs. 500001 to 1000000
Less-: Rebate u/s 88D (For F.Y. 2004-05) ( Not Applicable ) Rs - Above Rs. 1000000
Net Due Tax Rs 5,812,530 0
Surcharge If TI is >5000000 to 1000000
Less-: Rebate U/S 87A, if applicable Rs - to 20000000=15%, &
50000000=25%, & >
Surcharge (if any) ( Marginal relief Rs. 581188 ) Rs 871,945
E. Cess (Tax on Taxable Income-Rebate u/s 87A) Rs 267,379 Cess
Tax Liability Due Rs 6,951,854 For view complete list of Tax
1985-86 to 2019-20
Less-: Relief u/s 89(1) Rs -
Total Tax Liability Due Rs 6,951,854 Income
Less-: Tax Deducted Rs -
Net Tax Payable Rs 6,951,854 Rupees SixtyNine Lakh FiftyOne Thousand Eight H

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:10:58
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20 Home
rma, Accountant, please call-
kn@gmail.com for further
uggestion
2010-21
Rs 250,000
(below 60 years)

.Year 2019-20
Tax Rate
0%
5%
20%
30%
0%
0000 to 10000000=10%, & > 10000000
20000000=15%, & >20000000 to
00000=25%, & >50000000=37%

4%
lete list of Tax Rate from
5-86 to 2019-20

Tax Rate

e Thousand Eight Hundred FiftyFour Only

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:10:58
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Home Useful_Income_Tax_information__Fo
(T)- Periods of Limitation

(V)-Various Threshold_Limits

(V-A)-Basic_Exemption_201819
IMPORTANT INCOME (V-B)-Under_the_head_Salaries_1819
TAX INFORMATION (F.Y.
2018-19) -LIMITATION
& THRRESHOLD LIMITS (V-C)-Under_the_head_Income_from_House_Properties_2
("T" to "V")
(V-D)-Under_the_head_Income_from_House_Properties_1

(V-E)-For_Trust_1819

(V-F)-Deductions_under_Chapter_VI_A_1819
T PERIODS OF LIMITATION (fo
Nature of compliance Issuance of certificate of tax deducted at source-Form No. 16

Section 203
Limitation of time : By 15th June of the financial year immediately following the financial y

Remarks Form No. 16A: On or before 15th August, 30th November, 30th Februa
30th June, 30th September & 31st December respectively of the fin
before 15th June of the financial year immediately following the financ
U Securities Transaction Tax [Financ
Nature of compliance Sale of immovable property without written consent of
defaulter

Limitation of time Not until expiry of 30 days from date on which proclamation of sale has
TRO, whichever is later

V Various Threshold Limits (Minimum or maximum


(V-A) Basic Exemption
Particulars Surcharge shall be charged at the rate of 10% of income-tax if net incom
crore in case of Individual, HUF, AOP, BOI, Artificial judicial person (Subje

Threshold Limits
Rs. 50 lakh
(V-B)Under the head Salaries
Particulars Death -cum-Retirement Gratuity received by other employees who are n
Government employee)(Subject to certain conditions).
Section 10(10)
Threshold Limits (for Least of following amount is exempt from tax:1. 1/2 X Average Salary*
exemptions and Gratuity actually received.
others)
Remark [*Average salary = Average Salary of last 10 months immediately preced
Dearness Allowance (to the extent it forms part of retirement benefits)+ t

(V-C)Under the head Income from House Properties


Particulars Interest incurred on borrowed capital for re-construction,
repair or renewal of self-occupied house property
(Subject to certain conditions)

Threshold Limits

(V-D) Under the head Profits and Gains of Business or Profession


Pariticular of If value adopted for stamp duty exceeds the consideration received on t
expemtion value shall be deemed to be the full value of consideration.

Threshold Limits However, if stamp duty value does not exceed 105% of the consideration
deemed to be the full value of consideration

Section 43CA
Remark

(V-E) For Trust


Particulars Activity for advancement of any other object of general public utility sha

Section 2(15)
Threshold limits 25% of total receipts of financial year.
Remark (If activity is undertaken in course of carrying out of object of general pu
do not exceed )
Remark (If activity is undertaken in course of carrying out of object of general pu
do not exceed )
(V-F) Deductions under Chapter VI-A
Particulars Contribution to notified Pension Scheme (NPS) by an Individual (Subject

Section 80CCD
Threshold Limits Amount contributed to pension scheme or 10% of salary/gross total
Remark (subject to ceiling limit of Rs. 1,50,000 as provided under Section 80CCE
80CCD(1).
x_information__For_Fin._Year_2018_19
(U)-Securities Transaction Tax

House_Properties_201819

House_Properties_1819

_1819
OF LIMITATION (for F.Y. 2018-19)
Form No. 16

203
ollowing the financial year in which income was paid and tax deducted.

November, 30th February of the financial year in respect of quarters ending


respectively of the financial year. For quarter ending 31st March, on or
ely following the financial year in which deduction is made
action Tax [Finance (No. 2) Act, 2004]
Section

Schedule II Part III, Rule 55


roclamation of sale has been affixed on the property or in the office of the

imum or maximum valie) under the Income Tax Act


ncome-tax if net income is above Rs. 50 Lakh but it does not exceed Rs. 1
al judicial person (Subject to Marginal relief)

Rs. 50 lakh

er employees who are not covered under Gratuity Act, 1972 (other than
tions).
10(10)
1/2 X Average Salary* X Completed years of service,2. Rs. 10,00,000,3.

nths immediately preceding the month of retirement,**Salary = Basic Pay +


f retirement benefits)+ turnover based commission]

Section

24(b)
Up to Rs. 30,000
on
sideration received on transfer of an immovable property, the stamp duty
sideration.

5% of the consideration received, the consideration so received shall be

43CA

general public utility shall be considered as charitable activity

2(15)

t of object of general public utility and aggregate receipts from such activity
t of object of general public utility and aggregate receipts from such activity

y an Individual (Subject to certain conditions).

80CCD
% of salary/gross total income*, whichever is less
ed under Section 80CCE) shall be allowed as deduction under section
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Under the head
Profits and Gains
of Business or
Profession

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Home
Home Useful_Income_Tax_information__For_Fi
"A" to " J" Deduction available to different categor
Deduction (A)-Salaries
avaiable for
Fin. Year (C)-Income from other sources --Deductible_items
2018-19
against (E)-Profit and gains of business or profession--Deductible items

(G)-Capital Gains

(I)-Rebate

DEDUCTIONS
(A)- Against 'salaries'
Nature of Standard Deduction [Rs. 40,000 or the amount of salary, whichever is lower]
deduction
Section Who can claim
16(ia) Individual – Salaried Employee
(B)-Against 'income from house properties'
Nature of Interest on borrowed capital (Rs. 30,000/Rs. 2,00,000, subject to specified con
deduction
Section Who can claim
24(b) All assessees
(C ) - Against 'income from other sources'…(A. Deductible items)
Nature of Any reasonable sum paid by way of commission or remuneration for purpose
deduction referred to in section 115-O)

Section Who can claim


57(i) All assessees

(D)-Against 'income from other sources'…(B. Non-deductible items)


Nature of Interest chargeable to tax which is payable outside India on which tax has not
deduction
Section Who can claim
58(1)(a)(ii) All assessees
(E)- Against 'profits and gains of business or profession' ……(A. Deductible item
Nature of Expe nditure incurred for obtaining licence to operate telecommunication serv
deduction business or thereafter at any time during any previous year

Section Who can claim


35ABB All assessees
(F)- Against 'profits and gains of business or profession' ……(B. Non-deductible
Nature of Amount paid by way of royalty, licence fee, service fee, privilege fee, service
deduction whatever name called, which is levied exclusively on, or any amount which is

Section Who can claim


40(a)(iib) State Govt. undertakings

(G)-Against 'capital gains'


Nature of Long-term capital gains on transfer before 1-4-2006 of certain listed securities
deduction part of an eligible issue of capital (subject to certain conditions and limits)

Section Who can claim


54ED Any assessee
(H)- Against 'profits and gains of business or profession' ……(C. Other-deductib

Nature of In case of mineral oil concerns expenditure incurred remaining unallowed as r


deduction

Section Who can claim


42(2) Assessee whose business consists of prospecting for or
extraction or production of petroleum and natural gas and
who transfers any interest in such business
(I)-Rebate
Section Who can claim
87A Individual

(J)-For certain payments (Deduction u/s chapter VIA)


Section Who can claim
80C Individual/HUF

Nature of deduction
Investment in certain items (See view Deduction List for 80C)

Key points (if any)


The maximum tax exemption limit under Section 80C has been retained as Rs 1.5 Lakh only.

Deduction List for 80C


■ Life insurance premium for policy :
- in case of individual, on life of assessee, assessee's spouse and any child
- in case of HUF, on life of any member of the HUF
■ Sum paid under a contract for a deferred annuity :
- in case of individual, on life of the individual, individual's spouse and an
should not contain
- in case an option
of HUF, on to receive
life of any member cash payment
of the HUF in lieu of annuity)
■ Sum deducted from salary payable to Government servant for securing deferred annuity or
[qualifying amount limited to 20% of salary]
■ Contributions by an individual made under Employees' Provident Fund Scheme
■ Contribution to Public Provident Fund Account in the name of:
- in case of individual, such individual or his spouse or any child of such in
- in case of HUF, any member of HUF
■ Contribution by an employee to a recognised provident fund
■ Contribution by an employee to an approved superannuation fund
■ Subscription to any notified security or notified deposit scheme of the Central Governmen
Account
■ Amount Scheme hasdeposited
can be been notified
by anvide Notification
individual No.name
or in the 9/2015, dated
of girl 21.01.2015.
child Any sum
of an individual de
or in
individual is the legal
■ Subscription guardian.
to notified savings certificates [National Savings Certificates (VIII Issue)]
■ Contribution for participation in unit-linked Insurance Plan of UTI :
- in case of an individual, in the name of the individual, his spouse or any
- in case of a HUF, in the name of any member thereof
■ Contribution to notified unit-linked insurance plan of LIC Mutual Fund [Dhanaraksha 1989]
- in the case of an individual, in the name of the individual, his spouse or
- in the case of a HUF, in the name of any member thereof
■ Subscription to notified deposit scheme or notified pension fund set up by National Housin
Scheme/National Housing Banks
■ Tuition fees (excluding (Tax Saving)
development fees, Term Deposit
donations, Scheme,
etc.) paid by2008]
an individual to any univ
institution situated in India, for full time education of any 2 of his/her
■ Certain payments for purchase/construction of residential house property children
■ Subscription to notified schemes of (a) public sector companies engaged in providing long-
houses
■ Suminpaid
India for residential
towards notifiedpurposes/(b)
annuity plan authority
of LIC (Newconstituted under anyJeevan
Jeevan Dhara/New law forDhara-I/Ne
satisfying n
Jeevan Akshay-II/Jeewan
■ Subscription Akshay-III
to any units of any plan of LIC)
notified [u/sor10(23D)]
other insurer
Mutual Fund or the UTI (Equity Linke
■ Contribution by an individual to any pension fund set up by any mutual fund which is refer
Retirement Benefit
■ Subscription to Pension Fund)or debentures forming part of any approved eligible issue of
equity shares
financial institutions
■ Subscription to any units of any approved mutual fund referred to in section 10(23D), prov
subscribed only in
■ Term deposits for 'eligible issue
a fixed of capital'
period referred
of not less thanto above.with a scheduled bank, and which
5 years
and notified.
■ Subscription to notified bonds issued by the NABARD.
■ Deposit in an account under the Senior Citizen Savings Scheme Rules, 2004 (subject to cert
■ 5-year term deposit in an account under the Post Office Time Deposit Rules, 1981 (subject

Other important Key Po


The additional deduction is not subjected to ceiling limit of Rs. 1,50,000 as pr

Amount contributed to pension scheme or 10% of salary/gross total income*


otherwise 20% of gross total income.), whichever is less (subject to ceiling lim
80CCE) shall be allowed as deduction under section 80CCD(1).
Additional deduction to the extent of Rs. 50,000 shall also be available to the
additional deduction
Contribution made byisemployer
not subjected to ceiling
shall also limit ofasRs.
be allowed 1,50,000under
deduction as provid
sec
of the employee. However, amount of deduction could not exceed 10% of sal
Note:-
1. Deduction under section 80CCD(2) on account of contribution made by the
subjected to ceiling limit of Rs. 1,50,000 as provided under section 80CCE.
2. Addition deduction of Rs. 50,000 shall not be allowed in respect of contrib
under section 80CCD(1), i.e., limit of 10% of salary/gross total income
_information__For_Fin._Year_2018_19

e to different categories of Tax Payers


(B)-Income from House Properties

(D)-Income from other sources--Non deductible_items

(F)-Profit and gains of business or profession--Non Deductible items

(H)- Profit and gains of business or profession--Other Deductible items

(J)-For certain payments (Deduction u/s chapter VIA)

UCTIONS
A
salary, whichever is lower]

Key points (if any)

B
000, subject to specified conditions)
Key points (if any)

le items) C
or remuneration for purpose of realising dividend (other than dividends

Key points (if any)


Err:501

tible items) D
e India on which tax has not been paid or deducted at source

Key points (if any)

……(A. Deductible items) E


rate telecommunication services either before commencement of such
ious year

Key points (if any)

……(B. Non-deductible items) F


ce fee, privilege fee, service charge or any other fee or charge, by
on, or any amount which is appropriated,

Key points (if any)


whether directly or indirectly, from a State Government
undertaking by the State Government

G
06 of certain listed securities or units invested in equity shares forming
in conditions and limits)

Key points (if any)


H
……(C. Other-deductible items)

ed remaining unallowed as reduced by proceeds of transfer

Key points (if any)


I
Nature of deduction
Tax rebate in case of individual resident in India, whose total
income does not exceed Rs. 3,50,000 quantum of rebate shall be
an amount equal to hundred per cent of such income-tax or an
amount of Rs. 2,500, whichever is less.

J
Who can claim
Individual/HUF
Deduction List for 80C
of deduction

ints (if any)


ed as Rs 1.5 Lakh only.

on List for 80C

ssee's spouse and any child of assessee


HUF

individual's spouse and any child of the individual (however, contract


ment in lieu of annuity)
HUF
ecuring deferred annuity or making provision for his wife/children
nt Fund Scheme

ouse or any child of such individual

und
of the Central Government. For this purpose, Sukanya Samriddhi
ted 21.01.2015.
l child Any sum
of an individual deposited
or in the name during
of thethe
girlyear
childinfor
Sukanya
whom such an
ertificates (VIII Issue)]
TI :
dividual, his spouse or any child of such individual
thereof
al Fund [Dhanaraksha 1989]
he individual, his spouse or any child of such individual
mber thereof
d set up by National Housing Bank [Home Loan Account
, 2008]
by an individual to any university, college, school or other educational
her children
e property
engaged in providing long-term finance for purchase/construction of
nder anyJeevan
ra/New law forDhara-I/New
satisfying need for housing
Jeevan accommodation
Akshay/New or for
Jeevan Akshay-I/New
und or the UTI (Equity Linked Saving Scheme, 2005)
mutual fund which is referred to in section 10(23D) or by the UTI (UTI
y approved eligible issue of capital made by a public company or public
to in section 10(23D), provided amount of subscription to such units is
scheduled bank, and which is in accordance with a scheme11 framed

Rules, 2004 (subject to certain conditions)


eposit Rules, 1981 (subject to certain conditions)

r important Key Points


ng limit of Rs. 1,50,000 as provided under section 80CCE.

f salary/gross total income*(*10% of salary in case of employees


is less (subject to ceiling limit of Rs. 1,50,000 as provided under Section
on 80CCD(1).
shall also be available to the assessee undersection 80CCD(1B). The
mit
wedofasRs. 1,50,000under
deduction as provided
sectionunder section 80CCE.
80CCD(2)while computing total income
could not exceed 10% of salary of the employee.
of contribution made by the employer to a pension scheme is not
ded under section 80CCE.
llowed in respect of contribution which is considered for deduction
y/gross total income
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Calculate_Find_out_important_information_result_relating_to_Tax_matter
Brief contents of section 234A-234D and its calculation
The Income Tax Act provides for charging of interest for non- payment/short payment/deferment in
payment of advance tax which is calculated as below:

Details Required
Status Company For 234 A Select Fin. Year 2019-20 Due Date (last date of selected F.Year)
Is 234A applicable Yes Due Date of Filing the Return
Is 234B applicable Yes For 234B Date of filing the Return / Date completion of assessment U/s 144
Is 234C applicable Yes & 234 C Date of Determination of Income U/s 143(1)
Advance Tax Deposite Details COMPUTATION Date of Determination of Income U/s
On or Before 15 June Rs - Total Tax on Gross Income Rs 1,209,000 Interest Payable
On or Before 15 September Rs - Advance Tax Paid Rs - Under Sec. 234 A
On or Before 15 December Rs - Tax Deducted at Source (TDS) Rs - Under Sec. 234 B
On or Before 15 March Rs - Relief U/s 90, 90A, 91 Rs - Under Sec. 234 C
Total Rs - MVAT Credit u/s 115JAA Rs - Total
In summary
Select section Calculation of Interest Under Section 234C Purpose For deferment of advance tax
No Advance Tax Liability if Tax payable is less than Rs. 10000 (u/s 234C)
Key feature/information relating to intrest u/s 234A-234D
Basic
A The Direct Tax Laws (Amendment) Act, 1987 inserted new sections 234A, 234B and 234C in the Income-tax Act from assessment year
provide for penal interest at higher rates for the defaults in late furnishing of the return of income, defaults in payment of advance ta
deferment of advance tax respectively and omitted separate penalty provisions for these defaults. The interest payable under these s
mandatory and there was no provision for reduction or waiver of the penal interest, as was provided specifically in this behalf prior to
result, several taxpayers faced unintended hardships in certain circumstances.

B To calculating interest on short fall/non-payment/ deferment of advance tax ignore any fraction of Rs.100.
C
If there is shortfall of tax by under estimate of any capital gains tax or winning from lotteries, crossword puzzles, races etc. then no in
234C will be leviable.
D Senior citizens (Over 60 Years) need not to pay advance tax if not having any business income. (w.e.f.1-4-2012).
INTEREST U/S 234A:
* Interest under section 234A is levied on the amount of tax as determined under section 143(1) and where regular assessment is made, the
income as determined under such regular assessment as reduced by advance tax, tax deducted/collected at source, relief claimed under vari
like sections 90/90A/91 and tax credit claimed under section 115JAA/115JD. * Interest under section 234A is levied for delay in filing the retur
Interest is
levied at 1% per month or part of a month. The nature of interest is simple interest

INTEREST U/S 234B:


For short fall in payment of advance tax by more than 10%, simple interest @ 1% per month or part thereof is chargeable from 1st April of the a
year to the date of processing u/s 143(1) or to the date of completion of regular assessment, on the tax as determined u/s 143(1) or on regular
less advance tax paid/ TDS or tax reliefs, if any, under Double Tax Avoidance Agreements with foreign countries.

INTEREST U/S 234C:


For deferment of advance tax. If advance tax paid by 15th September is less than 30% of advance tax payable, simple interest @ 1% is payable f
months on tax determined on returned income as reduced by TDS/TCS/Amount of advance tax already paid or tax relief, if any, under Double Ta
Agreement with forgiving contribution. Similarly, if amount of tax paid on or before 15th December is less than 60% of tax due on returned inco
@ 1% per month is to be charged for 3 months on the amount stated as above. Again, if the advance tax paid by 15th March is less than tax due
returned income, interest @ 1% per month on the shortfall is to be charged for one month.
For deferment of advance tax. If advance tax paid by 15th September is less than 30% of advance tax payable, simple interest @ 1% is payable f
months on tax determined on returned income as reduced by TDS/TCS/Amount of advance tax already paid or tax relief, if any, under Double Ta
Agreement with forgiving contribution. Similarly, if amount of tax paid on or before 15th December is less than 60% of tax due on returned inco
@ 1% per month is to be charged for 3 months on the amount stated as above. Again, if the advance tax paid by 15th March is less than tax due
returned income, interest @ 1% per month on the shortfall is to be charged for one month.

INTEREST U/S 234D:


Interest @ 0.5% is levied under this Section when any refund is granted to the assessee u/s 143(1) and on regular assessment it is found that ei
refund is due or the amount already refunded exceeds the refund determined on regular assessment. The said interest is levied @ 0.5% on the
excess amount so refunded for every month or part thereof from the date of grant of refund to the date of such regular assessment
Home

t in

31-Mar-2020
7/31/2020
8/12/2020
8/12/2020
nation of Income U/s 143(1)
Interest Payable
4A 12,090
4B 60,450
4C 61,050
otal 133,590

f advance tax
m assessment year 1989-90 to
ment of advance tax and for
able under these sections was
this behalf prior to 1989. As a

ces etc. then no interest u/s

ment is made, the tax on total


claimed under various sections
y in filing the return of income.

m 1st April of the assessment


3(1) or on regular assessment

@ 1% is payable for three


y, under Double Tax Avoidance
e on returned income, interest
is less than tax due on
it is found that either no
ed @ 0.5% on the whole or
ssment
Home Useful_Income_Tax_information__For_Fi

"K" to " O" Allowances available to different categor

(K)-Salaries
Allowances
avaiable for Fin. (M)-Other Sources
Year 2019-20
(O)-Capital Gain
Allowances available to different categories of Tax P
(K)-Allowance under head "Salaries"
Detail of allowance Allowances to Retired Chairman/Members of UPSC

Section Exemption available to


10(45) Individual - Retired Chairman/Member of UPSC
Remark (if any)

(L)-Allowances available Under the head Income from house property


Detail of allowance Standard Deduction

Section Exemption available to


23(5) All assessee

Remark (if any)

(M)-Allowances available Under the head Income from other sources


Detail of allowance Standard Deduction for family pension

Section Exemption available to


57(iia) Individual

Remark (if any)

(N)-Allowances available Under the head Profits and gains from business or profession
Detail of allowance Contribution to approved research association, university, college or othe
statistical research or research in social sciences shall be allowed as dedu

Section Exemption available to


35(1)(iii) All assessee

Remark (if any)


Entire sum paid to such association, university, college or other institution is allowed as deduction

(O)-Allowances available Under the head Capital Gain


Section Exemption Amount
Section 54 Investment in new assets or capital gain, whichever is lower

Eligible taxpayer Capital gains eligible for exemption


Individual and HUF Long-term
Deposit in Capital gains
deposit scheme before
due date under Sec. Time limit for acquiring the new assets
139(1)
Yes Purchase: within 1 year before or 2 years after date of
transfer.Construction: within 3 years after date of transfer
rmation__For_Fin._Year_2019_20 Home

different categories of Tax Payers

(L)-House Properties

(N)-Profit and gains

categories of Tax Payers Access Top


K

Limit of exemption
Exempt subject to maximum of Rs. 14,000 per
month for defraying the services of an orderly and
y)

L Access Top

Limit of exemption
30% of the Annual Value (Gross Annual Value-
Municipal Taxes)
y)

N Access Top

Limit of exemption
33.33% of Family Pension subject to maximum of
Rs. 15,000
y)

ss or profession M Access Top


ersity, college or other institution with objects of undertaking
ll be allowed as deduction (Subject to certain conditions)

Limit of exemption
125% of sum paid to such association, university,
college, or other institution is allowed as deduction

y)
allowed as deduction (applicable from AY 2018-19)

O Access Top
Withdrawal of exemption
If new asset is transferred within 3 years of its
acquisition

Assets to be acquired for exemption


One residential house property

Capital gains arising from transfer of

Residential House property


Home Useful_Income_Tax_information__For_Fin._Year_
Income Tax Forms
A)-View according to Form No
Select Form No Name of form
Form No.:2B Return of income for block assessment

(B)-View according to Name of Form


Select name of form
Return of income for block assessment

Income Tax Return Forms

Return Form No Return Form No ITR


ITR 1 For Individuals having Income from Salar
sources (Interest etc.) and having total in
on__For_Fin._Year_2019_20 Home

ncome Tax Forms

Name of form
nt

me of form Form No.


Form No.:2B

me Tax Return Forms

Return Form No ITR 1 applicable for


ving Income from Salaries, one house property, other
tc.) and having total income upto Rs.50 lakh
Home Useful_Income_Tax_information__For_Fin._Year_2019_20
"P" to " S" Various Penalties & Prosecution (Fin. Year 2019-20) .. PAN mandatory
(P)-Penalties
Penalties &
Prosecution
(R )--Fee

(P)-Various Penalties in Income Tax (for Fin. Year 2019-20)


Types of Penalties Failure to pay wholly or partly—(a) self-assessment tax, or(b) interest and fee, or(c) both

Section Result
140A(3) Such amount as Assessing Officer may impose but not exceeding tax in
arrears

(Q)-Various Prosecution in Income Tax (for Fin. Year 2019-20)


Types of Prosecution Failure to afford necessary facility to authorised officer to inspect books of account or other documents as required un
132(1)(iib)
Section Result
275B Up to 2 years
(R )-Various Fee in Income Tax (for Fin. Year 2019-20)
Types of Prosecution Fees for failure to furnish return of income within the time prescribed under section 139(1)

Section Result
234F 1) Rs. 5000 if return is furnished on or before 31st December of assessment year,2) Rs. 10,000 in any other case
Remark
Note: if total income of the person does not exceeds Rs. 5 lakh then fee payable shall be Rs. 1000
(S)-PAN-Certain transaction in which quoting of PAN is mandatory.
Section Type of transaction
Section 139A read Payment for sale or purchase of goods or services of any nature
with Rule 114B
ormation__For_Fin._Year_2019_20 Home

on (Fin. Year 2019-20) .. PAN mandatory


(Q)-Prosecution

(S)-PAN-Certain transaction in which quoting of PAN is mandatory.

P
b) interest and fee, or(c) both

Remark

Q
nspect books of account or other documents as required under section

Remark
No limit
R
prescribed under section 139(1)

ber of assessment year,2) Rs. 10,000 in any other case

Rs. 5 lakh then fee payable shall be Rs. 1000


S

ature

Access Top
Access Top

Access Top
Access Top
Home Useful_Income_Tax_information__For_Fi

"K" to " O" Allowances available to different categor

(K)-Salaries
Allowances
avaiable for Fin. (M)-Other Sources
Year 2018-19
(O)-Capital Gain
Allowances available to different categories of Tax P
(K)-Allowance under head "Salaries"
Detail of allowance Border area allowance Remote Locality or allowance or Disturbed Area a
(Subject to certain conditions and locations)

Section Exemption available to


Sec. 10(14) read with Individual - Salaried employee
Rule 2BB
Remark (if any)

(L)-Allowances available Under the head Income from house property


Detail of allowance Standard Deduction

Section Exemption available to


23(5) All assessee

Remark (if any)

(M)-Allowances available Under the head Income from other sources


Detail of allowance Standard Deduction for family pension

Section Exemption available to


57(iia) Individual

Remark (if any)

(N)-Allowances available Under the head Profits and gains from business or profession
Detail of allowance Deduction in respect of expenditure on specified businesses

Section Exemption available to


35AD All assessee

Remark (if any)


100% of capital expenditure will be allowed to be deducted from the assessment year 2018-19 on

(O)-Allowances available Under the head Capital Gain


Section Exemption Amount
Section 54 Investment in new assets or capital gain, whichever is lower

Eligible taxpayer Capital gains eligible for exemption


Individual and HUF Long-term
Deposit in Capital gains
deposit scheme before
due date under Sec. Time limit for acquiring the new assets
139(1)
Yes Purchase: within 1 year before or 2 years after date of
transfer.Construction: within 3 years after date of transfer
rmation__For_Fin._Year_2018_19 Home

different categories of Tax Payers

(L)-House Properties

(N)-Profit and gains

categories of Tax Payers Access Top


K
e or Disturbed Area allowance or Difficult Area Allowance

Limit of exemption
Amount exempt from tax varies from Rs. 200 per
month to Rs. 1,300 per month.
y)

L Access Top

Limit of exemption
30% of the Annual Value (Gross Annual Value-
Municipal Taxes)
y)

N Access Top

Limit of exemption
33.33% of Family Pension subject to maximum of
Rs. 15,000
y)

ss or profession M Access Top


sinesses

Limit of exemption
150% of capital expenditure incurred for the purpose
of business is allowed as deduction provided the
specified business has commenced its operation on or
after 01-04-2012.

y)
ment year 2018-19 onwards

O Access Top
Withdrawal of exemption
If new asset is transferred within 3 years of its
acquisition

Assets to be acquired for exemption


One residential house property

Capital gains arising from transfer of

Residential House property


Home Useful_Income_Tax_information__For_Fin._Year_2018_19
"P" to " S" Various Penalties & Prosecution (Fin. Year 2018-19) .. PAN mandatory
(P)-Penalties
Penalties &
Prosecution
(R )--Fee

(P)-Various Penalties in Income Tax (for Fin. Year 2018-19)


Types of Penalties Failure to pay wholly or partly—(a) self-assessment tax, or(b) interest and fee, or(c) both

Section Result
140A(3) Such amount as Assessing Officer may impose but not exceeding tax in
arrears

(Q)-Various Prosecution in Income Tax (for Fin. Year 2018-19)


Types of Prosecution Failure to afford necessary facility to authorised officer to inspect books of account or other documents as required un
132(1)(iib)
Section Result
275B Up to 2 years
(R )-Various Fee in Income Tax (for Fin. Year 2018-19)
Types of Prosecution Fees for failure to furnish return of income within the time prescribed under section 139(1)

Section Result
234F 1) Rs. 5000 if return is furnished on or before 31st December of assessment year,2) Rs. 10,000 in any other case
Remark
Note: if total income of the person does not exceeds Rs. 5 lakh then fee payable shall be Rs. 1000
(S)-PAN-Certain transaction in which quoting of PAN is mandatory.
Section Type of transaction
Section 139A read Payment for sale or purchase of goods or services of any nature
with Rule 114B
ormation__For_Fin._Year_2018_19 Home

on (Fin. Year 2018-19) .. PAN mandatory


(Q)-Prosecution

(S)-PAN-Certain transaction in which quoting of PAN is mandatory.

P
b) interest and fee, or(c) both

Remark

Q
nspect books of account or other documents as required under section

Remark
No limit
R
prescribed under section 139(1)

ber of assessment year,2) Rs. 10,000 in any other case

Rs. 5 lakh then fee payable shall be Rs. 1000


S

ature

Access Top
Access Top

Access Top
Access Top
Useful Income-Tax information (For Fin. Year 2017-18) Home

"A" to " J" Deduction available to different categories of Tax Payers


Salaries Income from House Properties Bottam

Income from other sources --Deductible_items


Income from other sources--Non deductible_items
Deduction
avaiable for Profit and gains of business or profession--Deductible items
Fin. Year 2017- Profit and gains of business or profession--Non Deductible items
18 against Capital Gains Profit and gains of business or profession--Other Deductible items

Rebate For certain payments (Deduction u/s chapter VIA)

"K" to " O" Allowances available to different categories of Tax Payers

Salaries House Properties


Allowances
avaiable for Fin. Other Sources Profit and gains
Year 2017-18
Capital Gain
"P" to " S" Various Penalties & Prosecution (Fin. Year 2017-18) .. PAN mandatory
Penalties Prosecution
Penalties &
Prosecution Fee PAN-Certain transaction in which quoting of PAN is mandatory.

DEDUCTIONS
Against 'salaries' A Access Top
Nature of deduction Employment tax
Section Who can claim Key points (if any)
16(iii) Salaried assessees
Against 'income from house properties' B Access Top
Nature of deduction Standard deduction [30% of the annual value (gross annual value less municipal taxes)]

Section Who can claim Key points (if any)


24(a) All assessees
Against 'profits and gains of business or profession' ……(A. Deductible items) C Access Top
Nature of deduction Capital expenditure incurred during the year on scientific research relating to the business carried on by the assessee is
allowed as deduction (Subject to certain conditions)
Section Who can claim Key points (if any)
35(1)(iv) read with All assessee Capital expenditure incurred within 3 years before commencement of
35(2) business is allowed as deduction in the year of commencement of business.

Against 'profits and gains of business or profession' ……(B. Non-deductible items) D Access Top
Nature of deduction Any sum paid or payable to a non-resident which is subject to a deduction of Equalisation levy would attract
disallowance

Section Who can claim Key points (if any)


40(a)(ib) All assessees if such sum was paid without deduction of such levy or if it was deducted
but not deposited with the Central Government till the due date of filing of
return.

Against 'profits and gains of business or profession' ……(C. Other-deductible items) E Access Top
Nature of deduction In case of mineral oil concerns expenditure incurred remaining unallowed as reduced by proceeds of transfer

Section Who can claim Key points (if any)


42(2) Assessee whose business consists of
prospecting for or extraction or production
of petroleum and natural gas and who
transfers any interest in such business

Against 'capital gains' F Access Top


Nature of deduction Long-term capital gains invested in long-term specified asset (bond redeemable after 3 years)

Section Who can claim Key points (if any)


54EC Any assessee (maximum investment in a financial year is Rs. 50 lakhs)9 issued by
National Highways Authority of India; or by the Rural Electrification
Corporation Limited (subject to certain conditions and limits)

Against 'income from other sources'…(A. Deductible items) G Access Top


Nature of deduction Contributions to any provident fund or superannuation fund or any fund set up under Employees' State Insurance Act,
1948 or any other fund for welfare of employees,
Section Who can claim Key points (if any)
57(ia) All assessees if the same are credited to employees' accounts in relevant funds before
due date

Against 'income from other sources'…(B. Non-deductible items) H Access Top


Nature of deduction Personal expenses

Section Who can claim Key points (if any)


58(1)(a)(i) All assessees

For certain payments (Deduction u/s chapter VIA) I Access Top


Section Who can claim
80C Individual/HUF Deduction List for
80C
Nature of deduction
Investment in certain items (See view Deduction List for 80C)

Key points (if any)


The maximum tax exemption limit under Section 80C has been retained as Rs 1.5 Lakh only.

Rebate J Access Top


Section Who can claim Nature of deduction
87A Individual Tax rebate in case of individual resident in India, whose total income does
not exceed Rs. 3,50,000 quantum of rebate shall be an amount equal to
hundred per cent of such income-tax or an amount of Rs. 2,500, whichever
is less.

Allowances available to different categories of Tax Payers Access Top


Allowance under head "Salaries" K
Detail of allowance Children Education Allowance

Section Exemption available to Limit of exemption


10(14) Individual - Salaried employee Up to Rs. 100 per month per child up to a maximum of 2 children is
exempt
Remark (if any)

Allowances available Under the head Income from house property L Access Top
Detail of allowance Municipal tax levied by local authority and borne by owner in respect of house property
Section Exemption available to Limit of exemption
Allowances available All assessee Amount actually paid during the relevant previous year
Under the head Income
from house property
Remark (if any)

Allowances available Under the head Profits and gains from business or profession M Access Top
Detail of allowance Additional depreciation on new plant and machinery (other than ships, aircraft, vehicle, office appliances, second hand
plant or machinery, etc.) shall be allowed subject to certain conditions.

Section Exemption available to Limit of exemption


Proviso to Section All taxpayers which set up an undertaking or Additional depreciation to be allowed at 35 % of actual cost of new plant
32(1)(iia) enterprise for production or manufacture of and machinery.
any article or thing in any notified backward
area in the state of Andhra Pradesh, Bihar,
Telangana or West Bengal.

Remark (if any)

Allowances available Under the head Income from other sources N Access Top
Detail of allowance Standard Deduction for family pension

Section Exemption available to Limit of exemption


57(iia) Individual 33.33% of Family Pension subject to maximum of Rs. 15,000
Remark (if any)

Allowances available Under the head Capital Gain O Access Top


Section Exemption Amount Withdrawal of exemption
Section 54F Investment in new assets X capital gain/net a) If new asset is transferred within 3 years of acquisition,b) if another
consideration residential house is purchased within 2 years of transfer of original
asset;c) if another house is constructed within 3 years of transfer of
original asset

Eligible taxpayer Capital gains eligible for exemption Assets to be acquired for exemption
Individual and HUF Long-term One residential house property

Deposit in Capital gains


deposit scheme before due Time limit for acquiring the new assets Capital gains arising from transfer of
date under Sec. 139(1)

Yes Purchase: within 1 year before or within 2 Any long term asset (other than a residential house property) provided on
years after date of transfer.Construction: date of transfer taxpayer does not own more than one residential house
within 3 years after date of transfer property (except the new house)

Various Penalties in Income Tax (for Fin. Year 2017-18) P Access Top
Types of Penalties Penalty for failure to file statement within time prescribed in section 200(3) or in proviso to section 206C(3)

Section Result Remark


234E Rs. 200 for every day during which failure
continues but not exceeding tax
deductible/collectible

Various Prosecution in Income Tax (for Fin. Year 2017-18) Q Access Top
Types of Prosecution Prosecution of 6 months to 7 years with fine for abetment of false return, account, statement or declaration relating to
any income chargeable to tax
Section Result Remark
278 If tax sought to be evaded exceeds Rs. 25
Lakhs

Various Fee in Income Tax (for Fin. Year 2017-18) R Access Top
Types of Prosecution Fees for failure to furnish return of income within the time prescribed under section 139(1)

Section Result
( Assessees engaged in business of growing and manufacturing tea/Coffee/Rubber in India
Remark
Note: if total income of the person does not exceeds Rs. 5 lakh then fee payable shall be Rs. 1000
PAN-Certain transaction in which quoting of PAN is mandatory. S Access Top
Section Type of transaction
Section 139A read Deposit in cash aggregating Rs. 50,000 or more during one day with a bank
with Rule 114B

Deduction List for 80C T Access Top


■ Life insurance premium for policy :
- in case of individual, on life of assessee, assessee's spouse and any child of assessee
- in case of HUF, on life of any member of the HUF
■ Sum paid under a contract for a deferred annuity :
- in case of individual, on life of the individual, individual's spouse and any child of the individual (however,
contract should not contain an option to receive cash payment in lieu of annuity)
- in case of HUF, on life of any member of the HUF
■ Sum deducted from salary payable to Government servant for securing deferred annuity or making provision for his wife/children
[qualifying amount limited to 20% of salary]
■ Contributions by an individual made under Employees' Provident Fund Scheme
■ Contribution to Public Provident Fund Account in the name of:
- in case of individual, such individual or his spouse or any child of such individual
- in case of HUF, any member of HUF Access Top
■ Contribution by an employee to a recognised provident fund
■ Contribution by an employee to an approved superannuation fund
■ Subscription to any notified security or notified deposit scheme of the Central Government. For this purpose, Sukanya Samriddhi
Account Scheme has been notified vide Notification No. 9/2015, dated 21.01.2015. Any sum deposited during the year in Sukanya Samriddhi
Account by an individual would be eligible for deduction.
■ Amount can be deposited by an individual or in the name of girl child of an individual or in the name of the girl child for whom such an
individual is the legal guardian.
■ Subscription to notified savings certificates [National Savings Certificates (VIII Issue)]
■ Contribution for participation in unit-linked Insurance Plan of UTI :
- in case of an individual, in the name of the individual, his spouse or any child of such individual
- in case of a HUF, in the name of any member thereof
■ Contribution to notified unit-linked insurance plan of LIC Mutual Fund [Dhanaraksha 1989]
- in the case of an individual, in the name of the individual, his spouse or any child of such individual Access Top
- in the case of a HUF, in the name of any member thereof
■ Subscription to notified deposit scheme or notified pension fund set up by National Housing Bank [Home Loan Account
Scheme/National Housing Banks (Tax Saving) Term Deposit Scheme, 2008]

■ Tuition fees (excluding development fees, donations, etc.) paid by an individual to any university, college, school or other educational
institution situated in India, for full time education of any 2 of his/her children
■ Certain payments for purchase/construction of residential house property

■ Subscription to notified schemes of (a) public sector companies engaged in providing long-term finance for purchase/construction of
houses in India for residential purposes/(b) authority constituted under any law for satisfying need for housing accommodation or for
planning, development or improvement of cities, towns and villages, or for both
■ Sum paid towards notified annuity plan of LIC (New Jeevan Dhara/New Jeevan Dhara-I/New Jeevan Akshay/New Jeevan Akshay-I/New
Access Top
Jeevan Akshay-II/Jeewan Akshay-III plan of LIC) or other insurer
■ Subscription to any units of any notified [u/s 10(23D)] Mutual Fund or the UTI (Equity Linked Saving Scheme, 2005)
■ Contribution by an individual to any pension fund set up by any mutual fund which is referred to in section 10(23D) or by the UTI (UTI
Retirement Benefit Pension Fund)
■ Subscription to equity shares or debentures forming part of any approved eligible issue of capital made by a public company or public
financial institutions
■ Subscription to any units of any approved mutual fund referred to in section 10(23D), provided amount of subscription to such units is
subscribed only in 'eligible issue of capital' referred to above.
■ Term deposits for a fixed period of not less than 5 years with a scheduled bank, and which is in accordance with a scheme11 framed and
notified.
■ Subscription to notified bonds issued by the NABARD.
■ Deposit in an account under the Senior Citizen Savings Scheme Rules, 2004 (subject to certain conditions)
■ 5-year term deposit in an account under the Post Office Time Deposit Rules, 1981 (subject to certain conditions) Access Top
Home Useful_Income_Tax_information__For_Fin._Year_2
Income Tax Forms
A)-View according to Form No
Select Form No Name of form
Form 43 Appeal against refusal to approve or withdrawal of approval fro

(B)-View according to Name of Form


Select name of form
Statement to be furnished to the Assessing Officer/prescribed authority under su
11 of the Income-tax Act, 1961

Income Tax Return Forms

Return Form No Return Form No Form No.:ITR-


For individuals being a resident other tha
Form No.:ITR-1 SAHAJ Income from Salaries, one house propert
and having total income upto Rs.50 lakh
For_Fin._Year_2018_19 Home

Tax Forms

Name of form
drawal of approval from a superannuation fund

orm Form No.


ed authority under sub-section (2) of section Form 10

Return Forms

No Form No.:ITR-1 SAHAJ applicable for


resident other than not ordinarily resident having
one house property, other sources (Interest etc.)
e upto Rs.50 lakh
Challan 281
Transcation Date No. Characters
Deductor details: for Challan No 281
11/18/2019 Filled
TAN JDHT12345C 10
Name TREASURY CITY ABCD 18
Complete Address with NEAR ABCD QRST UVST 19
City & State
Telephone No. 0
PIN 342601 6
Assessment Year 2020-21 Select relevant Assesment Year
Deductee Code 2 Select Deductee Code
Section Code 92A Select Section code
Mode of Tax Payment (select cash or cheque) Cash Select required
option
Details of challan amount Income Tax Surcharge Education Interest Penalty Others Total
Cess

Break of paid amount 1,000 - 40 - - - 1,040


If challan amount paid through Cheque No. 001252
cheque (in spite of cash), then Cheque dated 15/02/2016
use these cells, otherwise leave
blank Cheque drawn on bank and branch ABCD

Payable by, Select 1 for (TDS/TCS Payable by Taxpayer), Select 2 for (TDS/TCS Regular 1 Select required code
Assessment (Raised by I.T.Dett.))
< Challan Identification Number(CIN) >
BSR code of the Branch 1234567 Input value in text
Date of deposit of Challan 11/18/2019 Input value in dd/mm/yyyy
Serial number for challan provided Provided by Bank after deposite challan
by bank
Remarks Only reference purpose
Challan 280
Transcation Date No. Characters
Details of Tax Payer for Challan No 280
11/18/2019 Filled
PAN Number of Tax Payer AEPPS1234R 10
Name of Tax Payer ABCDEFG 7
Complete Address Address TREASURY OFFICE 15
with City & State
City BIKANER 7
State RAJASTHAN 9
Telephone No. 9460123456 10
PIN 342601 6
Assessment Year 2020-21 Select relevant Assesment Year
Deductee Code OTHERS Select Deductee Code
Types of Payment (select one) SELF ASSESSMENT TAX (300) Select types of payment

Mode of Tax Payment (select cash or cheuqe) Debit to A/c Select required
option
Details of challan amount Income Tax Surcharge Education Interest Penalty Others Total
Cess

Break of paid amount 1,000 - 40 - - - 1,040


If challan amount paid through Account No 001525
cheque (in spite of cash), then Date to Debit to A/C 01/08/2016
use these cells, otherwise leave Debit A/c drawn on bank and SBI HIGH COURT CAMPUS JODHPUR
blank branch
Home
No. Characters
Maxi Remaing
10 0
64 46
96 77

12 12
6 0

Select required
option

If amount
deposited
through cheque,
use these cells,
otherwise leave
blank

Select required code


Select
mm/yyyy
after deposite challan
pose
Challan 280
No. Characters
Maxi Remaing
10 0
64 57
96 81
15 8
15 6
12 2
6 0

Select required
option

Home
*Important: Please see notes overleaf
before filling up the challan.
Tax Applicable (Tick One)*
CHALLAN NO. / ITNS (0020) INCOME TAX ON COMPANIES (CORPORATION TAX)
280
(0021) NON-COMPANY DEDUCTEES (OTHER THAN COMPANIES TAX)

Permanent Account Number .(PAN)

A E P P S 1 2 3 4 R
Full Name

A B C D E F G
Complete Address with City & State
T R E A S U R Y O F F I C E

B I K A N E R

R A J A S T H A N

Tel.No. 9 4 6 0 1 2 3 4 5 6

Type of Payment (Tick One)

ADVANCE TAX (100) SURTAX (102)

SELF ASSESSMENT TAX (300) Ö TAX ON DISTRIBUTED PROFITS OF DOME

TAX ON REGULAR ASSESSMENT (400) TAX ON DISTRIBUTED INCOME TO UNIT H

DETAILS OF PAYMENTS Amount (in Rs. Only)

Income Tax 1 0 0 0
Surcharge 0
Education Cess 4 0
Interest 0 Debit to

Penalty 0

Others 0
Total 1 0 4 0
Total (in words)

CRORES LACS THOUSANDS HUNDREDS TENS UNITS

Zero Zero One Zero Four Zero

Ö
Paid in Cash / Debit to A/c / Cheque No. Debit to A/c 001525 Dated 1-Aug-16

Drawn on SBI HIGH COURT CAMPUS JODHPUR


16.18.1.22.5.19.8√97263.0458756048 11/18/2019
(Name of the Bank and Branch)
Date: 18-Nov-19
Signature of person making payment Rs.

Tear off
Tax payers Counterfoil (To be filled up by tax payer)

PAN A E P P S 1 2 3 4 R
Received from ABCDEFG

Ö (Name)
Cash / Debit to A/c / Cheque No. Debit to A/c 001525 dated 01/08/2016 For Rs. 1040

Rs. (in words) One Thousand Forty Only


Drawn on SBI HIGH COURT CAMPUS JODHPUR
(Name of the Bank and Branch)

On Account of OTHERS Companies/ Other than Companies/ Tax

Income Tax on (Strike out whichever is not applicable)

Type of Tax Payment SELF ASSESSMENT TAX (300) (To be filled by the person making the
payment)
For the Assessment Year 2 0 2 0 - 2 1

*NOTES

1. Please use a separate challan for each type of payment.

2. Please note that quoting your Permanent Account Number (PAN) is mandatory.

3. Please note that quoting false PAN may attract a penalty of Rs. 10,000/- as per section 272B o

4. Please note that to deposit Appeal Fees either Major Head 020 or 021 (depending upon the t
under ‘Tax Applicable’. Followed by this; Minor Head: Self Assessment Tax (300) has
Payment’ and the amount is to filled under Others in ‘Details of Payments’.

5. To deposit taxes, appeal fees, etc. in respect of block period cases, enter the first Assessm

followed by the last Assessment Year of the period. For example, if the block period is 1/04

entered as 1986-97 in the space indicated for Assessment Year. If taxes are being deposited, ti

(300) under Type of Payment and fill up amount under ‘Tax’ while in respect of appeal fees, ent

16.18.1.22.5.19.8√97263.0458756048 11/18/2019
PLEASE USE THIS CHALLAN FOR DEPOSITING TAXES (TYPES OF PAYMENT) MENTIONED OVERLEA

KINDLY DO NOT USE THIS CHALLAN FOR DEPOSITING TAX DEDUCTION AT SOURCE (TDS)

KINDLY ENSURE THAT THE BANK’S ACKNOWLEDGEMENT CONTAINS THE FOLLOWING:

1. 7 DIGIT BSR CODE OF THE BANK BRANCH

2. DATE OF DEPOSIT OF CHALLAN (DD MM YY)

3. CHALLAN SERIAL NUMBER

THESE WILL HAVE TO BE QUOTED IN YOUR RETURN OF INCOME.

16.18.1.22.5.19.8√97263.0458756048 11/18/2019
Single copy (to be sent to the ZAO)

Assessment Year

Ö 2 0 2 0 - 2 1

PIN 3 4 2 6 0 1

OF DOMESTIC COMPANIES (106)

TO UNIT HOLDERS (107)

FOR USE IN RECEIVING BANK

Debit to A/c / Cheque credited on

D D M M Y Y

SPACE FOR BANK SEAL

16.18.1.22.5.19.8√97263.0458756048 11/18/2019
SPACE FOR BANK SEAL

on 272B of I.T.Act, 1961.

pon the tax payer’s status) has to be t


00) has to be ticked under ‘Type of

Assessment Year of the block period

d is 1/04/85 to 5/3/96, it would be

osited, tick the box Self Assessment

fees, enter amount under ‘Others’.

16.18.1.22.5.19.8√97263.0458756048 11/18/2019
OVERLEAF.

16.18.1.22.5.19.8√97263.0458756048 11/18/2019
*Important: Please see notes overleaf
before filling up the challan. T.D.S./T.C.S. TAX CHALLAN
Tax Applicable (Tick One)*
CHALLAN NO. / ITNS TAX DEDUCTED / COLLECTED AT SOURCE FROM
281 (0020) COMPANY DEDUCTEES (0021) NON-COMPANY DEDUCTEES

Tax Deduction Account No.(TAN)

J D H T 1 2 3 4 5 C
Full Name

T R E A S U R Y C I T Y A B C D

Complete Address with City & State

N E A R A B C D Q R S T U V S T

Tel.No.

Type of Payment Code* 9 2 A


(Tick One) (Please see overleaf)

TDS/TCS Payable by Taxpayer (200) Ö


TDS/TCS Regular Assessment (Raised by I.T.Dett.)
(400)
DETAILS OF PAYMENTS
Amount (in Rs. Only)

Income Tax 1 0 0 0
Surcharge 0
Education Cess 4 0
Interest 0
Penalty 0

Others 0

Total 1 0 4 0
Total (in words)
CRORES LACS THOUSANDS HUNDREDS TENS UNITS

Zero Zero One Zero Four Zero

16.18.1.22.5.19.8√97263.0458756048 11/18/2019
Ö Ö
Paid in Cash / Debit to A/c / Cheque No. Cash Dated 15-Feb-16

Drawn on ---------------------------------------------------------------------------------
(Name of the Bank and Branch)
Date: 18-Nov-19
Signature of person making payment

Tear off
Tax payers Counterfoil (To be filled up by tax payer)

TAN J D H T 1 2 3 4 5 C

Received from TREASURY CITY ABCD

Ö (Name)
Cash / Debit to A/c / Cheque Cash For Rs. 1040
No.
Rs. (in words) One Thousand Forty Only

Drawn on ---------------------------------------------------------------------------------
(Name of the Bank and Branch)

Company / Non Company Deductees

On account of Tax Deducted at Source (TDS)/Tax Collected at Source (TCS) from (Fill up Code)
92A
(Strike out whichever is not applicable)
For the Assessment Year 2 0 2 0 - 2 1

16.18.1.22.5.19.8√97263.0458756048 11/18/2019
*NOTES
1
. Please note that quoting false TAN may attract a penalty of Rs.10,000/- as per section 272BB o

2 Use a Separate Challan for each Nature(Type) of Payment. The relevant Codes are:

Section Nature of payment

192 Payment to Govt.Employees other than Union Government Employees

192 Payment to Employees other than Govt.Employees

193 Interest on Securities

194 Dividend

194A Interest other than interest on securities

194B Winnings from lotteries and crossword puzzles

194BB Winnings from horse race

194C Payment of contractors and sub-contractors

194D Insurance Commission

194E Payments to non-resident Sportsmen/Sports Associations

194EE Payments in respect of Deposits under National Savings Schemes

194F Payments on account of Re-purchase of Units by Mutual Funds or UTI

194G Commission, prize etc. on sale of Lottery tickets

194H Commission or Brokerage

194I Rent

194J Fees For Professional Or Technical Services

194K Income payable to a Resident Assessee in respect of Units of a specified Mutual Funds or of the Uni

194LA Payment of Compensation on acquisition of certain immovable property

195 Other sums payable to a non-resident

196A Income in respect of units of Non-Residents

196B Payments in respect of Units to an Offshore Fund

196C Income from Foreign Currency Bonds or shares of Indian Company payable to Non-Resident

196D Income of Foreign institutional investors from securities

206C Collection at Source from Alcoholic Liquor for Human Consumption

16.18.1.22.5.19.8√97263.0458756048 11/18/2019
206C Collection at Source from Timber obtained under Forest lease

206C Collection at Source from Timber obtained by any Mode other than a Forest Lease

206C Collection at Source from any other Forest Produce (not being Tendu Leaves)

206C Collection at Source from Scrap

206C Collection at Source from contractors or licensee or lease relating to Parking lots

206C Collection at Source from contractors or licensee or lease relating to toll plaza

206C Collection at Source from contractors or licensee or lease relating to mine or quarry

206C Collection at Source from tendu leaves

PLEASE TICK THE RELEVANT BOX AT THE TOP OF THE CHALLAN. SEPARATE CHALLANS SHOULD
DEDUCTED AT SOURCE FROM COMPANY DEDUCTEES AND FROM NON-COMPANY DEDUCTEES.

KINDLY ENSURE THAT THE BANK'S ACKNOWLEDGEMENT CONTAINS THE FOLLOWING:-


1. 7 DIGIT BSR CODE OF THE BRANCH
2. DATE OF DEPOSIT OF CHALLAN (DD MM YY)
3. CHALLAN SERIAL NUMBER
THESE WILL HAVE TO BE QUOTED IN YOUR RETURN OF INCOME.

16.18.1.22.5.19.8√97263.0458756048 11/18/2019
C.S. TAX CHALLAN Single copy (to be sent to the ZAO)

plicable (Tick One)*


COLLECTED AT SOURCE FROM
Assessment
Year
(0021) NON-COMPANY DEDUCTEES Ö
2 0 2 0 - 2 1

PIN 3 4 2 6 0 1

FOR USE IN RECEIVING BANK

Debit to A/c / Cheque credited on

D D M M Y Y

SPACE FOR BANK SEAL

16.18.1.22.5.19.8√97263.0458756048 11/18/2019
Rs.

SPACE FOR BANK SEAL

Rs.

16.18.1.22.5.19.8√97263.0458756048 11/18/2019
*NOTES

Rs.10,000/- as per section 272BB of I.T.Act.1961.

he relevant Codes are: S


E
C
of payment Code T
I
Employees 9 2 A ### O
N
9 2 B

1 9 3

1
1 9 4 9
4
1
9 4 A A
9
4
9 4 B B
1
4 B B 9
4
1
9 4 C C
9
4
1
9 4 D D
9
1
4
9
9 4 E E4
E1
emes 4 E E E9
4
1
nds or UTI 9 4 F F9
4
1
9 4 G G
9
4
1
9 4 H H
9
4
1
9 4 I I9
4
1
9 4 J J9
4
f a specified Mutual Funds or of the Units of the UTI 9 4 K K

able property 9 4 L 1
9
1
1 9 5 5
9
6
1
9 6 A A
9
6
1
9 6 B B
9
6
1
mpany payable to Non-Resident 9 6 C C
9
6
2
9 6 D D
0
6
mption 6 C A C

16.18.1.22.5.19.8√97263.0458756048 11/18/2019
2
0
6
2
se 6 C B C
0
6
2
her than a Forest Lease 6 C C C
0
6
2
ng Tendu Leaves) 6 C D C
0
6
2
6 C E C
0
6
lating to Parking lots 6 C F C

lating to toll plaza 6 C G

lating to mine or quarry 6 C H

6 C I

N. SEPARATE CHALLANS SHOULD BE USED FOR DEPOSITING TAX


ROM NON-COMPANY DEDUCTEES.

E FOLLOWING:-

16.18.1.22.5.19.8√97263.0458756048 11/18/2019
View_Caculate_Find_out_various_key_points_relating_to_TDS

No TDS on service Tax : TDS is not applicable on service tax part if service tax is shown separately.( circular 01/2014 dated
13.01.2014)
TDS at higher rate ie., 20% has to be deducted if the deductee does not provide PAN to the deductor.( u/s 206AA)
Surcharge on TDS on salary 10%, if Taxable Income >5000000 & upto 10000000,15%,If Taxable Income is >10000000

Education Cess on TDS 10%, if Taxable Income >5000000 & upto 10000000,15%,If Taxable Income is >10000000
Home

eparately.( circular 01/2014 dated

the deductor.( u/s 206AA)


e Income is >10000000

e Income is >10000000
View_Caculate_Find_out_various_key_points_relating_to_TDS
Home

Essential Password for working with trace & e-filing


Required Password for Relating Function Content of Password Example

(A)- Tax Deductor Consolidated File TAN_Request Number of


(i.e. Employer) request submitted JDHE12345D_23456

(B)- Tax Payer Form 26 AS Date of Birth (in DDMMYYYY If your date of birth is 18-03-1967,
(i.e. Employee) format) password will be 18031967

Due dates for payment of TDS:


Status Description Time up to which to be
deposited.
In case of an Office of Tax deposited without Challan [Book Entry]
SAME DAY
Government:
In any case other than an Tax deducted in any other month 7TH DAY NEXT MONTH
Office of Government

Dates of filing Quarterly Statements E-TDS Return


Return for Quarter ending 1st July to 30th September 30th September

Due date for Government Due date for Other Return Type/No Due Date for issuing TDS
Offices (A) Deductors (B) certificate [in Form no.
16A]

31st October 15th October 24QII for A/26QII for B 15th November

Due dates and extended date of e-filing for certain returns (from F.Y. 2011-12 to onwards)
F.YEAR DUE DATE Extended Date Main Reason

2016-17 Non linking of PAN and


31-Jul-17 5-Aug-17
Adhar
View_Caculate_Find_out_various_key_points_relating_to_TDS

Select Fin. Year


TDS RATE FOR FIN. YEAR 2019-20
2019-20
Nature of Payment Made To Residents
Threshold(Rs.) 1-April-2019 to 31-Mar-2020 1-April-2019 to 31-Mar-2020
1-April-2019 to 31-Mar-2020 1-April-2019 to 31-Mar-2020
Company / Firm / Co-operative Society / 1-April-2019 to 31-Mar-2020
Local Authority 1-April-2019 to 31-Mar-2020
IT Rate (%) 1-April-2019 to 31-Mar-2020
Individual / HUF
1-April-2019 to 31-Mar-2020
If No / Invalid PAN 1-April-2019 to 31-Mar-2020
Income Range
Non Residents other than company
exceeds Rs.1 Crore
between Rs.1 Crore and 10
Non Resident companies Crore
Surcharge Rate (%)
Non Resident companies greater than Rs.10 Crore
Surcharge on Coperative Society & Firms
exceeds Rs.1 Crore
in case of Non-Residents
Deduction At the time of
Credit or payment (earlier)

TCS Rates for F.Y. 2012-13 to 2019-20


Nature of Payment in section 206C Financial Year
TCS on sale in cash of any goods (other than bullion/jewellary)

2019-20

Your Output based on selected data Cut-off Amount


200000
When tax is to be deducted
Tax Deduction condition Relevant section and its name
1. At the time of credit or payment, * 193- Interest on securities , * 194A- Interest Other than “Interest on securities” , * 194C
whichever is earlier
Payment to contractors / sub contractors , * 194D – Insurance commission , * 194H – Commission
or Brokerage , * 194G- Commission on sale of lottery tickets , * 194I- Rent , * 194J- Professiona
or technical fees
2. Before making payment or * 194- Dividend
distribution
3. At the time of payment * 192- Salaries , * 194B- Winning from lotteries / crossword puzzles , * 194BB Winnings from
horse races , * 194EE – Payment from National Saving Scheme , * 194F Payment for repurchase o
units by UTI / mutual funds , * 194 -IA : payment of transfer of immovable property >50 Lakh , *
194LA: Payment of compensation on acquisition of certain immovable property ,
When Tax is to be collected
Tax Deduction condition Relevant section and its name
1. At the time of Debit of Account or 1. At the time of Debit of Account or Receipt ,whichever is earlier , * Scrap , * Tendu Leaves , *
Receipt ,whichever is earlier
Timber obtained under a forest lease or other mode , * Any other forest produce not being a

timber or tendu leave , * Alcoholic Liquor for human consumption , * Parking Lot, toll plaza

mining and quarrying Minerals, being coal or lignite or iron ore (applicable from July 1,2012) ,
2. At the time of receipt/collection * Sale of motor vehicle > 10 lakh
Home

Select TDS Section

194D - Insurance Commission


15000
15000
10
10
5
5
20

NA

NA
NA

NA
Allowed form No 15G-15H
YES

Tax Categary

Individual/HUF

TCS Rate in %
1.0%
its name
than “Interest on securities” , * 194C-
ance commission , * 194H – Commission
kets , * 194I- Rent , * 194J- Professional

word puzzles , * 194BB Winnings from


heme , * 194F Payment for repurchase of
sfer of immovable property >50 Lakh , *
n immovable property ,

its name
r is earlier , * Scrap , * Tendu Leaves , *

* Any other forest produce not being a

consumption , * Parking Lot, toll plaza,

n ore (applicable from July 1,2012) ,


FORM NO.12BB
(See rule 26C)
Statement showing particulars of claims by an employee for deduction of tax under section 192
1. Name and address of the employee:
2. Permanent Account Number of the employee:
3. Financial year: 2019-20

Details of claims and evidence thereof


Sl No. Nature of claim Amount (Rs.)
(1) (2) (3)
1 House Rent Allowance:
(i) Rent paid to the landlord
(ii) Name of the landlord
(iii) Address of the landlord
(iv) Permanent Account Number of the landlord
Note: Permanent Account Number shall be furnished if
the aggregate rent paid during the previous year exceeds
one lakh rupees

2 Leave travel concessions or assistance


3 Deduction of interest on borrowing:
(i) Interest payable/paid to the lender
(ii) Name of the lender
(iii) Address of the lender
(iv) Permanent Account Number of the lender
(a) Financial Institutions(if available)
(b) Employer(if available)
(c) Others
4 Deduction under Chapter VI-A
(A) Section 80C,80CCC and 80CCD
(i) Section 80C
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(ii) Section 80CCC
(iii) Section 80CCD
(B) Other sections (e.g. 80E, 80G, 80TTA, etc.) under
Chapter VI-A. (i) section……………….
(ii) section……………….
(iii) section……………….
(iv) section……………….
(v) section……………….
Verification
I,…………………………………...……....,son/daughter of……………...………………….. do hereby certify that the information
given above is complete and correct.
Place……………………………………………...
Date…………………………………………….... (Signature of the employee)
Designation ……………………………….…. Full Name
on of tax under section 192

2019-20

Evidence / particulars
(4)
eby certify that the information

the employee)
Home
Calculate_Find_out_important_information_result_relating_to_Tax_matter
HOUSE RENT ALLOWANCE REBATE CALUCATION-ANNUAL BASIS
Parameters Input Result (output)
City Type Non Metro City (2) EXCESS OF 10% PAY (0*12-0*10%) Rs -
HR PAID AMT P.M. Rs - (3) 40% of Salary (0*40%) Rs -
PERIOD FOR PAID (in months) 12 MINIMUM VALUE (0,0,0) Rs -
SALARY FOR HRA (Basic Pay+G.P. Rs - HRA AMT EXEMPT U/S NIL
+D.A/D.P.) 10(13A) Not Allowed
(1) HRA RECEIVED Rs -
HOUSE RENT ALLOWANCE REBATE CALUCATION-MONTHLY BASIS
Financial Year 2019-20 City Type Non Metro City
Total House Rent Sum of HRA amt paid from
Period Basic Salary (Basic HRA RECEIVED HRA PAID Allowance Paid 04/2019 to 03/2020
Pay+G.P.+D.A/ D.P.)
Rs -
Apr-19 Rs - Rs - Rs - Total of Salary (Basic
Pay+G.P.+D.A/ D.P.) Sum of Basic Salary from
May-19 Rs - Rs - Rs - 04/2019 to 03/2020 Rs -
Jun-19 Rs - Rs - Rs - (1) Total House Rent
Allowance Received Sum of HRA Allow.received
Jul-19 Rs - Rs - Rs - from 04/2019 to 03/2020 Rs -
Aug-19 Rs - Rs - Rs - (2) Exess of 10% Pay
Sep-19 Rs - Rs - Rs - (0 -0*10%) Rs -
Oct-19 Rs - Rs - Rs - (3) 40% of Salary
Nov-19 Rs - Rs - Rs - (0*40%) Rs -
Dec-19 Rs - Rs - Rs - MINIMUM VALUE {(1),(2),
(3)} (0,0,0)
Jan-20 Rs - Rs - Rs - Rs -
Feb-20 Rs - Rs - Rs - HRA AMT EXEMPT NIL
Not Allowed
Mar-20 Rs - Rs - Rs -
Important key points regarding House Rent Allowance Exemption u/s 10(13A)
A House Rent Allowance (HRA) is an allowance paid by employer to its employees for covering their house
rent. Such allowance is taxable in the hand of employee. However, Income Tax Act provides deduction of HRA
under section 10(13A) subject to exemption available shall be the least of the following -

1 House Rent Allowance received.


2 Rent paid less 10% of salary Access or View of Form
3 40% of Salary (50% in case of Mumbai, Chennai,Kolkata, Delhi) Salary here means 12BB
Basic + Dearness Allowance, if dearness allowance is provided by the terms of
employment (if it enters into retirement benefits) Form No 12BB
B Form 12BB is to be submitted with the employer,if the House Rent Paid payment in excess of of Rs 8,333 per
month or Per Annum Rs. 1,00,000/- . it is mandatory to submit the Pan Number of Land Loard / House
Owner.If the Pan Card Number have not yet to done by the House/Land Loard, the Land/House owner must
submit a Declaration in plain paper with the Name & Address of Land/House owner, which submit the
employee.
C Employee are exempted from production of rent receipt to employer, if the house rent allowance is upto
Rs.3000/- per month. It may, however, be noted that this concession is only for the purpose of tax-deduction
at source, and, in the regular assessment of the employee, the Assessing Officer will be free to make such
enquiry as he deems fit for the purpose of satisfying himself that the employee has incurred actual expenditure
on payment of rent. (Circular no. 8/2013)
D Following claims can be claimed simultaneously.
1 Deduction of house rent allowance If an employee receives HRA which is allowed as
2 Home loan interest under section 24b deductible under this section then no deduction is
3 Repayment of housing loan under section 80C allowed under section 80GG.

Home
Calculation of Relief u/s 89(1) from F.Y. 1985-86 & onwards

Quick Link to SECTION 89(1) TABLE A

Important Hints-How to use this sheet


Instructi
Design & Prepaired by Pravesh Kumar Sharma, Accountant, please call-946
mail to praveshbkn@gmail.com for further query/error/updation/su
Use only unhighlighted cells (i.e. white colour cells), rest cells are linked with ma
1 condition that is applicable. Please avoid mismatching codition that's are not appl
2 Specific hint for "Calculate Relief u/s 89(1)" --->> Fill following fields

1 Name of Employee PRAVESH Data relating to


2 Designation of Employee AAO-I 7 Income From Salary(with
3 PAN NUMBER AEPPS1234Q 8 Income From House Prop
MALE
4 Tax Cate. 9 Income From Other Sourc
5 Current Fin. Year (1985-86 to 2016-17) 10 Ded U/S 80C-80CCE
6 Form 10E prepartion Date & Place BIKANER 11 Other deduction under ch
3 ► If any loss from income from house property, use negative sign before inpu

This excel sheet work in all type of Male i.e. Male, Female, Sr.Citizen and Very
4 ► Catgy .. Select "Male" for "Male" ( No difference in output)

5 ► Select Start_End Year for salary arrear accured for batter view of input of old

This sheet auto calculate effect of section 88D for F.Y. 2004-05. If your data r
6 ► write combind amount of [(1) the value of section 88, 88B and (2) deductio
deduction under chapter VIA
1985-86 & onwards Home

FORM 10E TAX CALCULATION


Instructions
ant, please call-9460100093 or write
y/error/updation/suggestion
s are linked with master data. Select proper
n that's are not applicable.
wing fields

Data relating to slected current year


Income From Salary(with arrear amt) 874067
Income From House Property
Income From Other Sources (leave cell blank, if no
data to input)
Ded U/S 80C-80CCE
Other deduction under cht VIA
negative sign before input value

emale, Sr.Citizen and Very Sr. Citizen, However, in this sheet Tax
output)

batter view of input of old data

F.Y. 2004-05. If your data relate to before F.Y. 2005-06, please


88, 88B and (2) deduction under chapter VIA ] in column
Calculation of Relief u/s 89(1) from F.Y. 1985-86 to 2019-20
Name of Employee pravesh kumar sharma PAN NUMBER

Designation of Employee Tax Cate.& Res.


accountant Male
Status
Data relating to Current Fin. Year (i.e. Year in which -Salary year received )
Income From Salary(with arrear amt) Rs 675,000 Current Fin. Year <Select>
Income From House Property Rs - Form 10E prepartion Date & Place
Income From Other Sources Rs - (required field)
Ded U/S 80C-80CCE Rs - GTI for F.Y. 2019-20
Other deduction under cht VIA Rs - Relief u/s 89(1)
Total salary arrear amt.(=equal to cell C54) Rs - Relevant Assestment Year
Salary Arrear accured in years Start Year 2015-16 End Year
OLD DATA (FROM FIN. YEAR 1985-86 & ONWARDS) (leave cell blank, if no data to input)
INCOME WITH ARREAR INCOME WITHOUT ARREAR

FINANCIAL YEAR Ded, under Chapter


Salary received in arrear or Gross Total
Gross Total Income VIA (with releif u/s 88,
advance Income
88B, if any)

1985-86 Rs - Rs - Rs - Rs -
1986-87 Rs - Rs - Rs - Rs -
1987-88 Rs - Rs - Rs - Rs -
1988-89 Rs - Rs - Rs - Rs -
1989-90 Rs - Rs - Rs - Rs -
1990-91 Rs - Rs - Rs - Rs -
1991-92 Rs - Rs - Rs - Rs -
1992-93 Rs - Rs - Rs - Rs -
1993-94 Rs - Rs - Rs - Rs -
1994-95 Rs - Rs - Rs - Rs -

16.18.1.22.5.19.8√97263.0458756048 14:11:0111/18/2019
1995-96 Rs - Rs - Rs - Rs -
1996-97 Rs - Rs - Rs - Rs -
1997-98 Rs - Rs - Rs - Rs -
1998-99 Rs - Rs - Rs - Rs -
1999-00 Rs - Rs - Rs - Rs -
2000-01 Rs - Rs -
2001-02 Rs - Rs -
2002-03 Rs - Rs -
2003-04 Rs - Rs -
2004-05 Rs - Rs -
2005-06 Rs - Rs -
2006-07 Rs - Rs -
2007-08 Rs - Rs -
2008-09 Rs - Rs -
2009-10 Rs - Rs -
2010-11 Rs - Rs -
2011-12 Rs - Rs -
2012-13 Rs - Rs -
2013-14 Rs - Rs -
2014-15 Rs - Rs -
2015-16 Rs - Rs -
2016-17 Rs - Rs -
2017-18 Rs - Rs -
2018-19 Rs - Rs -
2019-20 Rs - Rs - Rs -
TOTAL Rs - Rs - Rs - Rs -

16.18.1.22.5.19.8√97263.0458756048 14:11:0111/18/2019
Releif u/s 89(1) NIL Relief u/s 89(1) not allowed

16.18.1.22.5.19.8√97263.0458756048 14:11:0111/18/2019
20
AAAP1234R

Resident

)
2019-20
18-Nov-19
BIKANER
Rs 675,000
NIL
2020-21
2018-19
ata to input)
OME WITHOUT ARREAR

Ded, under Chapter


VIA (with releif u/s 88,
88B, if any)

Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -

16.18.1.22.5.19.8√97263.0458756048 14:11:0111/18/2019
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -

16.18.1.22.5.19.8√97263.0458756048 14:11:0111/18/2019
(1) not allowed

16.18.1.22.5.19.8√97263.0458756048 14:11:0111/18/2019
COMPUTATION OF TAXABLE INCOME
For Current Financial Year 2019-20 Assestment Year 2020-21
Name of employee Pravesh Kumar Sharma PAN NO AAAP1234R
PARTICULES SALY WITH ARR. SALY WITHOUT ARR.
1 Income From Salary Rs 675,000 Rs 675,0
2 Add-: Income From House Property Rs - Rs
3 Add-: Income From Others Sources Rs - Rs
4 Gross Total Income Rs 675,000 Rs 675,0
5 Less-: Deduction U/S 80C/80CCE Rs - Rs
6 Others Deduction U/S Rs - Rs
7 Taxable Income (rounded u/s 288A) Rs 675,000 Rs 675,0
8 Income tax on Taxable Income Rs 47,500 Rs 47,5
9 Less-: Rebate U/S 87A, if applicable Rs - Rs
10 Surcharge Rs - Rs
11 E. Cess (Tax on Taxable Income-Rebate u/s 87A) Rs 1,900 Rs 1,9
12 Total Tax Due [Code-(A) & (B)] Rs 49,400 Rs 49,4
13 Code CODE-(A) CODE-(B)
14 Additional Tax On Arrear [(A)-(B)] -Code ( C) Rs.

TABLE A
[See item 7 of Annexure I]
Previous year(s) Total Income of Salary received Total income (as Tax on total Tax on total
Previous year in arrears or increased by income [as income
(i.e. Salary advace relating salalry received in per colum (2)] [as per colum
without arrear) to the relevat arrears or (4)]
previous year advance) of the
as mentioned in relevant previous
colum(1) year mentioned in
colum I[Add
colums
(2) and (3)]

1 2 3 4 (2+3) 5 6
2014-15 Rs. - Rs. - Rs. - Rs. - Rs. -
2015-16 Rs. - Rs. - Rs. - Rs. - Rs. -
2016-17 Rs. - Rs. - Rs. - Rs. - Rs. -
2017-18 Rs. - Rs. - Rs. - Rs. - Rs. -
2018-19 Rs. - Rs. - Rs. - Rs. - Rs. -
TOTAL Rs. - Rs. - Rs. - Rs. - Rs. -

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:01
AAAP1234R
SALY WITHOUT ARR.
675,000
-
-
675,000
-
-
675,000
47,500
-
-
1,900
49,400
CODE-(B)
-

Difference in
tax [Amount
under column
6 minus
amount
under column
(5)]

7 (6-5)
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:01
FORM NO. 10E
[See rule 21AA]
Form for furnishing particulars of Income under section 192(2A) for the year ending
31st Marc 2020 for claiming relief under section 89(1) by a Government servant or an

employee in a company, co-operative society, local authority, university,institution, association or body

1 Name and address of the employee Pravesh Kumar Sharma

2 Permanent account number AAAP1234R

3 Residential status -Tax Cate. Resident Male

Particulars of income referred to in rule 21A of the Income-tax Rules, 1962,


during the previous year relevant to assessment year 2020-21
1. (a) Salary received in arrears or in advance in accordance with the
Rs -
provisions of sub-rule (2) of rule 21A
(b) Payment in the nature of gratuity in respect of past services,
extending over a period of not less than 5 years in accordance with Rs NIL
the provisions of sub-rule (3) of rule 21A
(c) Payment in the nature of compensation from the employer or former
employer at or in connection with termination of employment after
continuous service of not less than 3 years or where the unexpired Rs NIL
portion of term of employment is also not less than 3 years in
accordance with the provisions of sub-rule (4) of rule 21A
(d) Payment in commutation of pension in accordance with the provisions
of sub-rule (5)of rule 21A Rs NIL

2 Detailed particulars of payments referred to above may be given in


Annexure I, II, IIA, III or IV, as the case may be AS ENCLOSED

Signature of the employee


Verification

I Pravesh Kumar Sharma do hereby declare that what is


stated above is true to the best of my knowledge and belief.

Verified today, the 18th day of Nov-2019

Place-: Bikaner
Date-: 18-Nov-19
Signature of the employee

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:01
ANNEXURE I
[See item 2 of Form No. 10E]
ARREARS OR ADVANCE SALARY
1 Total income (excluding salary received in arrears or advance) Rs 675,000

2 Salary received in arrears or advance Rs -


3 Total income (as increased by salary received in arrears or advance) Rs 675,000
[Add item 1 and item 2]
4 Tax on total income (as per item 3) Rs 49,400

5 Tax on total income (as per item 1) Rs 49,400

6 Tax on salary received in arrears or advance Rs -


[Difference of item 4 and item 5]
7 Tax computed in accordance with Table “A” Rs -
[Brought from column 7 of Table “A”]
8 Relief under section 89(1) NIL
[Indicate the difference between the amounts mentioned against items 6 and7]

Place-: Bikaner
Date-: 18-Nov-19
Signature of the employee

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:01
Home
Go to
Employee Data Form no 16 Statement

(Option A-Determination of Gross Salary for selected Fin. Year 2019-20


START MONTH END MONTH NO. OF Basic Pay D.A. H.R.A. C.C.A. OTH. MONTHLY
MONTHS SALARY
Apr-19 Jun-19 4 73400 12% 16% 620 0 94572
Jul-19 Mar-20 8 75600 17% 16% 620 0 101168
SURRENDER LEAVE Aug-19 73400 17% For No of days 15 42939
BONUS 20 6774
D.A. arrear 0
Jan-19 Mar-19 3 73400 3% 0% 0 0 2202
OTHERS Whole amt 0 0 0 0
OTHERS Whole amt
TOTAL GROSS SALARY
(Option-B) Determination of Gross Salary for selected Fin. Year 2019-20
Month Basic Pay D.A. H.R.A. C.C.A. OTH. OTH. OTH. OTH.

Apr-19 0 0 0 0 0 0 0 0
May-19 0 0 0 0
Jun-19 0 0 0 0
Jul-19 0 0 0 0
Aug-19 0 0 0 0
Sep-19 0 0 0 0
Oct-19 0 0 0 0 0
Nov-19 0 0 0 0
Dec-19 0 0 0 0
Jan-20 0 0 0 0
Feb-20 0 0 0 0
Mar-20 0 0 0 0
Total 0 0 0 0 0 0 0 0
Home

2019-20
GROSS SALARY

378288
809344
42939
6774
0
6606
0
0
1243951
2019-20
GROSS SALARY

0
0
0
0
0
0
0
0
0
0
0
0
0
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
Design & Prepaired by Pravesh Kumar Sharma, Accountant, please call-9460100093 or write mail to praveshbkn@gmail.com for further query/error/updati
Fin. Year 1985 - 1986 Tax Calculator Mini Tax Calculator
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 18000 0% 0% 0% 0 18000 0% 0% 0% 0 18000 0% 0% 0% 0
18001 25000 25% 0% 0% 18001 25000 25% 0% 0% 18001 25000 25% 0% 0% 18001
25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001
50001 100000 40% 5% 0% 50001 100000 40% 5% 0% 50001 100000 40% 5% 0% 50001
100001 50% 5% 0% 100001 50% 5% 0% 100001 50% 5% 0% 100001
Surcharge Limit 5%,If Taxable Income is >50000
Fin. Year 1986 - 1987
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 18000 0% 0% 0% 0 18000 0% 0% 0% 0 18000 0% 0% 0% 0
18001 25000 25% 0% 0% 18001 25000 25% 0% 0% 18001 25000 25% 0% 0% 18001
25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001
50001 100000 40% 5% 0% 50001 100000 40% 5% 0% 50001 100000 40% 5% 0% 50001
100001 50% 5% 0% 100001 50% 5% 0% 100001 50% 5% 0% 100001
Surcharge Limit 5%,If Taxable Income is >50000
Fin. Year 1987 - 1988
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 18000 0% 0% 0% 0 18000 0% 0% 0% 0 18000 0% 0% 0% 0
18001 25000 25% 0% 0% 18001 25000 25% 0% 0% 18001 25000 25% 0% 0% 18001
25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001
50001 100000 40% 5% 0% 50001 100000 40% 5% 0% 50001 100000 40% 5% 0% 50001
100001 50% 5% 0% 100001 50% 5% 0% 100001 50% 5% 0% 100001
Surcharge Limit 5%,If Taxable Income is >50000

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
Fin. Year 1988 - 1989
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 18000 0% 0% 0% 0 18000 0% 0% 0% 0 18000 0% 0% 0% 0
18001 25000 25% 0% 0% 18001 25000 25% 0% 0% 18001 25000 25% 0% 0% 18001
25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001
50001 100000 40% 5% 0% 50001 100000 40% 5% 0% 50001 100000 40% 5% 0% 50001
100001 50% 5% 0% 100001 50% 5% 0% 100001 50% 5% 0% 100001
Surcharge Limit 5%,If Taxable Income is >50000
Fin. Year 1989 - 1990
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 18000 0% 0% 0% 0 18000 0% 0% 0% 0 18000 0% 0% 0% 0
18001 25000 20% 0% 0% 18001 25000 20% 0% 0% 18001 25000 20% 0% 0% 18001
25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001
50001 100000 40% 8% 0% 50001 100000 40% 8% 0% 50001 100000 40% 8% 0% 50001
100001 50% 8% 0% 100001 50% 8% 0% 100001 50% 8% 0% 100001
Surcharge Limit 8%,If Taxable Income is >50000
Fin. Year 1990 - 1991
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 22000 0% 0% 0% 0 22000 0% 0% 0% 0 22000 0% 0% 0% 0
22001 30000 20% 0% 0% 22001 30000 20% 0% 0% 22001 30000 20% 0% 0% 22001
30001 50000 30% 0% 0% 30001 50000 30% 0% 0% 30001 50000 30% 0% 0% 30001
50001 100000 40% 12% 0% 50001 100000 40% 12% 0% 50001 100000 40% 12% 0% 50001
100001 50% 12% 0% 100001 50% 12% 0% 100001 50% 12% 0% 100001
Surcharge Limit 12%,If Taxable Income is >75000
Fin. Year 1991 - 1992
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
SUR RATE E.Cess SUR RATE E.Cess SUR RATE E.Cess
Not defined Not defined Not defined Not defined
0 22000 0% 0% 0% 0 22000 0% 0% 0% 0 22000 0% 0% 0% 0
22001 30000 20% 0% 0% 22001 30000 20% 0% 0% 22001 30000 20% 0% 0% 22001
30001 50000 30% 0% 0% 30001 50000 30% 0% 0% 30001 50000 30% 0% 0% 30001
50001 100000 40% 12% 0% 50001 100000 40% 12% 0% 50001 100000 40% 12% 0% 50001
100001 50% 12% 0% 100001 50% 12% 0% 100001 50% 12% 0% 100001
Surcharge Limit 12%,If Taxable Income is >100000
Fin. Year 1992 - 1993
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 28000 0% 0% 0% 0 28000 0% 0% 0% 0 28000 0% 0% 0% 0
28001 50000 20% 0% 0% 28001 50000 20% 0% 0% 28001 50000 20% 0% 0% 28001
50001 100000 30% 0% 0% 50001 100000 30% 0% 0% 50001 100000 30% 0% 0% 50001
100001 40% 12% 0% 100001 40% 12% 0% 100001 40% 12% 0% 100001
Surcharge Limit 12%,If Taxable Income is >100000
Fin. Year 1993 - 1994
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 30000 0% 0% 0% 0 30000 0% 0% 0% 0 30000 0% 0% 0% 0
30001 50000 20% 0% 0% 30001 50000 20% 0% 0% 30001 50000 20% 0% 0% 30001
50001 100000 30% 12% 0% 50001 100000 30% 12% 0% 50001 100000 30% 12% 0% 50001
100001 40% 12% 0% 100001 40% 12% 0% 100001 40% 12% 0% 100001
Surcharge Limit 12%,If Taxable Income is >100000
Fin. Year 1994 - 1995
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 35000 0% 0% 0% 0 35000 0% 0% 0% 0 35000 0% 0% 0% 0
35001 60000 20% 0% 0% 35001 60000 20% 0% 0% 35001 60000 20% 0% 0% 35001
60001 120000 30% 0% 0% 60001 120000 30% 0% 0% 60001 120000 30% 0% 0% 60001

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
120001 40% 0% 0% 120001 40% 0% 0% 120001 40% 0% 0% 120001
Surcharge Limit Nil
Fin. Year 1995 - 1996
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 40000 0% 0% 0% 0 40000 0% 0% 0% 0 40000 0% 0% 0% 0
40001 60000 20% 0% 0% 40001 60000 20% 0% 0% 40001 60000 20% 0% 0% 40001
60001 120000 30% 0% 0% 60001 120000 30% 0% 0% 60001 120000 30% 0% 0% 60001
120001 40% 0% 0% 120001 40% 0% 0% 120001 40% 0% 0% 120001
Surcharge Limit Nil
Fin. Year 1996 - 1997
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 40000 0% 0% 0% 0 40000 0% 0% 0% 0 40000 0% 0% 0% 0
40001 60000 15% 0% 0% 40001 60000 15% 0% 0% 40001 60000 15% 0% 0% 40001
60001 120000 30% 0% 0% 60001 120000 30% 0% 0% 60001 120000 30% 0% 0% 60001
120001 40% 0% 0% 120001 40% 0% 0% 120001 40% 0% 0% 120001
Surcharge Limit Nil
Fin. Year 1997 - 1998
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 40000 0% 0% 0% 0 40000 0% 0% 0% 0 40000 0% 0% 0% 0
40001 60000 10% 0% 0% 40001 60000 10% 0% 0% 40001 60000 10% 0% 0% 40001
60001 150000 20% 0% 0% 60001 150000 20% 0% 0% 60001 150000 20% 0% 0% 60001
150001 30% 0% 0% 150001 30% 0% 0% 150001 30% 0% 0% 150001
Surcharge Limit Nil
Fin. Year 1998 - 1999
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
0 50000 0% 0% 0% 0 50000 0% 0% 0% 0 50000 0% 0% 0% 0
50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001
60001 150000 20% 0% 0% 60001 150000 20% 0% 0% 60001 150000 20% 0% 0% 60001
150001 30% 0% 0% 150001 30% 0% 0% 150001 30% 0% 0% 150001
Surcharge Limit Nil
Fin. Year 1999 - 2000
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 50000 0% 0% 0% 0 50000 0% 0% 0% 0 50000 0% 0% 0% 0
50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001
60001 150000 20% 10% 0% 60001 150000 20% 10% 0% 60001 150000 20% 10% 0% 60001
150001 30% 10% 0% 150001 30% 10% 0% 150001 30% 10% 0% 150001
Surcharge Limit 10%,If Taxable Income is >60000
Fin. Year 2000 - 2001
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (Above 65 years) Not defined
0 50000 0% 0% 0% 0 50000 0% 0% 0% 0 50000 0% 0% 0% 0
50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001
60001 150000 20% 12% 0% 60001 150000 20% 12% 0% 60001 150000 20% 12% 0% 60001
150001 30% 17% 0% 150001 30% 17% 0% 150001 30% 17% 0% 150001
Surcharge Limit If Taxable Income is >60000 =12% & >150000=17%

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
Fin. Year 2001 - 2002
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (Above 65 years) Not defined
0 50000 0% 0% 0% 0 50000 0% 0% 0% 0 50000 0% 0% 0% 0
50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001
60001 150000 20% 2% 0% 60001 150000 20% 2% 0% 60001 150000 20% 10% 0% 60001
150001 30% 2% 0% 150001 30% 2% 0% 150001 30% 10% 0% 150001
Surcharge Limit 2%,If Taxable Income is >60000
Fin. Year 2002 - 2003
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (Above 65 years) Not defined
0 50000 0% 0% 0% 0 50000 0% 0% 0% 0 50000 0% 0% 0% 0
50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001
60001 150000 20% 5% 0% 60001 150000 20% 5% 0% 60001 150000 20% 5% 0% 60001
150001 30% 5% 0% 150001 30% 5% 0% 150001 30% 5% 0% 150001
Surcharge Limit 5%,If Taxable Income is >60000
Fin. Year 2003 - 2004
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (Above 65 years) Not defined
0 50000 0% 0% 0% 0 50000 0% 0% 0% 0 50000 0% 0% 0% 0
50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001
60001 150000 20% 10% 0% 60001 150000 20% 10% 0% 60001 150000 20% 10% 0% 60001
150001 30% 10% 0% 150001 30% 10% 0% 150001 30% 10% 0% 150001
Surcharge Limit 10%,If Taxable Income is >850000
Fin. Year 2004 - 2005
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (Above 65 years) Not defined
0 50000 0% 0% 0% 0 50000 0% 0% 0% 0 50000 0% 0% 0% 0
50001 60000 10% 0% 2% 50001 60000 10% 0% 2% 50001 60000 10% 0% 2% 50001

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
60001 150000 20% 10% 2% 60001 150000 20% 10% 2% 60001 150000 20% 10% 2% 60001
150001 30% 10% 2% 150001 30% 10% 2% 150001 30% 10% 2% 150001
Surcharge Limit 10%,If Taxable Income is >850000

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
Fin. Year 2005 - 2006
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (above 65 years) Not defined
0 100000 0% 0% 0% 0 135000 0% 0% 0% 0 185000 0% 0% 0% 0
100001 150000 10% 0% 2% 135001 150000 10% 0% 2% 185001 250000 20% 0% 2% 185001
150001 250000 20% 10% 2% 150001 250000 20% 10% 2% 250001 30% 10% 2% 250001
250001 30% 10% 2% 250001 30% 10% 2% 10% 2%
Surcharge Limit 10%,If Taxable Income is >1000000
Fin. Year 2006 - 2007
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (above 65 years) Not defined
0 100000 0% 0% 0% 0 135000 0% 0% 0% 0 185000 0% 0% 0% 0
100001 150000 10% 0% 2% 135001 150000 10% 0% 2% 185001 250000 20% 0% 2% 185001
150001 250000 20% 10% 2% 150001 250000 20% 10% 2% 250001 30% 10% 2% 250001
250001 30% 10% 2% 250001 30% 10% 2% 10% 2%
Surcharge Limit 10%,If Taxable Income is >1000000
Fin. Year 2007 - 2008
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (above 65 years) Not defined
0 110000 0% 0% 0% 0 145000 0% 0% 0% 0 195000 0% 0% 0% 0
110001 150000 10% 0% 3% 145001 150000 10% 0% 3% 195001 250000 20% 0% 3% 195001
150001 250000 20% 0% 3% 150001 250000 20% 0% 3% 250001 30% 10% 3% 250001
250001 30% 10% 3% 250001 30% 10% 3% 10% 3%
Surcharge Limit 10%,If Taxable Income is >1000000
Fin. Year 2008 - 2009
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (above 65 years) Not defined
0 150000 0% 0% 0% 0 180000 0% 0% 0% 0 225000 0% 0% 0% 0
150001 300000 10% 0% 3% 180001 300000 10% 0% 3% 225001 300000 10% 0% 3% 225001

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
300001 500000 20% 0% 3% 300001 500000 20% 0% 3% 300001 500000 20% 0% 3% 300001
500001 30% 10% 3% 500001 30% 10% 3% 500001 30% 10% 3% 500001
Surcharge Limit 10%,If Taxable Income is >1000000

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
Fin. Year 2009 - 2010
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (above 65 years) Not defined
0 160000 0% 0% 0% 0 190000 0% 0% 0% 0 240000 0% 0% 0% 0
160001 300000 10% 0% 3% 190001 300000 10% 0% 3% 240001 300000 10% 0% 3% 240001
300001 500000 20% 0% 3% 300001 500000 20% 0% 3% 300001 500000 20% 0% 3% 300001
500001 30% 0% 3% 500001 30% 0% 3% 500001 30% 0% 3% 500001
Surcharge Limit Nil
Fin. Year 2010 - 2011
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (above 65 years) Not defined
0 160000 0% 0% 0% 0 190000 0% 0% 0% 0 240000 0% 0% 0% 0
160001 500000 10% 0% 3% 190001 500000 10% 0% 3% 240001 500000 10% 0% 3% 240001
500001 800000 20% 0% 3% 500001 800000 20% 0% 3% 500001 800000 20% 0% 3% 500001
800001 30% 0% 3% 800001 30% 0% 3% 800001 30% 0% 3% 800001
Surcharge Limit Nil
Fin. Year 2011 - 2012
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 60 years) (below 60 years) (>60,<80)) (above 80 years)
0 180000 0% 0% 0% 0 190000 0% 0% 0% 0 250000 0% 0% 0% 0
180001 500000 10% 0% 3% 190001 500000 10% 0% 3% 250001 500000 10% 0% 3% 500001
500001 800000 20% 0% 3% 500001 800000 20% 0% 3% 500001 800000 20% 0% 3% 800001
800001 30% 0% 3% 800001 30% 0% 3% 800001 30% 0% 3%
Surcharge Limit Nil
Fin. Year 2012 - 2013
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (above 65 years) (above 80 years)
0 200000 0% 0% 0% 0 200000 0% 0% 0% 0 250000 0% 0% 0% 0
200001 500000 10% 0% 3% 200001 500000 10% 0% 3% 250001 500000 10% 0% 3% 500001

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 1000001
1000001 30% 0% 3% 1000001 30% 0% 3% 1000001 30% 0% 3%
Surcharge Limit Nil

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
Fin. Year 2013 - 2014
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 60 years) (below 60 years) (>60,<80)) (above 80 years)
0 200000 0% 0% 0% 0 200000 0% 0% 0% 0 250000 0% 0% 0% 0
200001 500000 10% 0% 3% 200001 500000 10% 0% 3% 250001 500000 10% 0% 3% 500001
500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 1000001
1000001 30% 10% 3% 1000001 30% 10% 3% 1000001 30% 10% 3%
Surcharge Limit 10%,If Taxable Income is >10000000
Fin. Year 2014 - 2015
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 60 years) (below 60 years) (>60,<80)) (above 80 years)
0 250000 0% 0% 0% 0 250000 0% 0% 0% 0 300000 0% 0% 0% 0
250001 500000 10% 0% 3% 250001 500000 10% 0% 3% 300001 500000 10% 0% 3% 500001
500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 1000001
1000001 30% 10% 3% 1000001 30% 10% 3% 1000001 30% 10% 3%
Surcharge Limit 10%,If Taxable Income is >10000000
Fin. Year 2015 - 2016
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 60 years) (below 60 years) (>60,<80)) (above 80 years)
0 250000 0% 0% 0% 0 250000 0% 0% 0% 0 300000 0% 0% 0% 0
250001 500000 10% 0% 3% 250001 500000 10% 0% 3% 300001 500000 10% 0% 3% 500001
500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 1000001
1000001 30% 12% 3% 1000001 30% 12% 3% 1000001 30% 12% 3%
Surcharge Limit 12%,If Taxable Income is >10000000
Fin. Year 2016 - 2017
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 60 years) (below 60 years) (>60,<80)) (above 80 years)
0 250000 0% 0% 0% 0 250000 0% 0% 0% 0 300000 0% 0% 0% 0
250001 500000 10% 0% 3% 250001 500000 10% 0% 3% 300001 500000 10% 0% 3% 500001

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 1000001
1000001 30% 15% 3% 1000001 30% 15% 3% 1000001 30% 15% 3%
Surcharge Limit 15%,If Taxable Income is >10000000

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
Fin. Year 2017 - 2018
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 60 years) (below 60 years) (>60,<80)) (above 80 years)
0 250000 0% 0% 0% 0 250000 0% 0% 0% 0 300000 0% 0% 0% 0
250001 500000 5% 0% 3% 250001 500000 5% 0% 3% 300001 500000 5% 0% 3% 500001
500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 1000001
1000001 30% 15% 3% 1000001 30% 15% 3% 1000001 30% 15% 3%
Surcharge Limit 10%, if Taxable Income >5000000 & upto 10000000,15%,If Taxable Income is >10000000
Fin. Year 2018 - 2019
Male SUR RATE Cess Female SUR RATE Cess Senior Citizen SUR RATE Cess Very Senior Citizen
(below 60 years) (below 60 years) (>60,<80)) (above 80 years)
0 250000 0% 0% 0% 0 250000 0% 0% 0% 0 300000 0% 0% 0% 0
250001 500000 5% 0% 4% 250001 500000 5% 0% 4% 300001 500000 5% 0% 4% 500001
500001 1000000 20% 0% 4% 500001 1000000 20% 0% 4% 500001 1000000 20% 0% 4% 1000001
1000001 30% 15% 4% 1000001 30% 15% 4% 1000001 30% 15% 4%
Surcharge Limit 10%, if Taxable Income >5000000 & upto 10000000,15%,If Taxable Income is >10000000
Fin. Year 2019 - 2020
Male SUR RATE Cess Female SUR RATE Cess Senior Citizen SUR RATE Cess Very Senior Citizen
(below 60 years) (below 60 years) (>60,<80)) (above 80 years)
0 250000 0% 0% 0% 0 250000 0% 0% 0% 0 300000 0% 0% 0% 0
250001 500000 5% 0% 4% 250001 500000 5% 0% 4% 300001 500000 5% 0% 4% 500001
500001 1000000 20% 0% 4% 500001 1000000 20% 0% 4% 500001 1000000 20% 0% 4% 1000001
1000001 30% 15% 4% 1000001 30% 15% 4% 1000001 30% 15% 4%
Surcharge Limit 10%, if Taxable Income >5000000 & upto 10000000,15% -If Taxable Income is >10000000 & upto 20000000,25% ,if Taxab
upto 50000000,and 37%, if Taxable income >50000000
Use simpletaxindia.net for further updation/new files regarding taxations matter and much more…

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)

query/error/updation/suggestion

x Calculator Home
Very Senior Citizen SUR RATE E.Cess
Not defined
18000 0% 0% 0%
25000 25% 0% 0%
50000 30% 0% 0%
100000 40% 5% 0%
50% 5% 0%

Very Senior Citizen SUR RATE E.Cess


Not defined
18000 0% 0% 0%
25000 25% 0% 0%
50000 30% 0% 0%
100000 40% 5% 0%
50% 5% 0%

Very Senior Citizen SUR RATE E.Cess


Not defined
18000 0% 0% 0%
25000 25% 0% 0%
50000 30% 0% 0%
100000 40% 5% 0%
50% 5% 0%

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)

Very Senior Citizen SUR RATE E.Cess


Not defined
18000 0% 0% 0%
25000 25% 0% 0%
50000 30% 0% 0%
100000 40% 5% 0%
50% 5% 0%

Very Senior Citizen SUR RATE E.Cess


Not defined
18000 0% 0% 0%
25000 20% 0% 0%
50000 30% 0% 0%
100000 40% 8% 0%
50% 8% 0%

Very Senior Citizen SUR RATE E.Cess


Not defined
22000 0% 0% 0%
30000 20% 0% 0%
50000 30% 0% 0%
100000 40% 12% 0%
50% 12% 0%

Very Senior Citizen SUR RATE E.Cess

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)
SUR RATE E.Cess
Not defined
22000 0% 0% 0%
30000 20% 0% 0%
50000 30% 0% 0%
100000 40% 12% 0%
50% 12% 0%

Very Senior Citizen SUR RATE E.Cess


Not defined
28000 0% 0% 0%
50000 20% 0% 0%
100000 30% 0% 0%
40% 12% 0%

Very Senior Citizen SUR RATE E.Cess


Not defined
30000 0% 0% 0%
50000 20% 0% 0%
100000 30% 12% 0%
40% 12% 0%

Very Senior Citizen SUR RATE E.Cess


Not defined
35000 0% 0% 0%
60000 20% 0% 0%
120000 30% 0% 0%

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)

40% 0% 0%

Very Senior Citizen SUR RATE E.Cess


Not defined
40000 0% 0% 0%
60000 20% 0% 0%
120000 30% 0% 0%
40% 0% 0%

Very Senior Citizen SUR RATE E.Cess


Not defined
40000 0% 0% 0%
60000 15% 0% 0%
120000 30% 0% 0%
40% 0% 0%

Very Senior Citizen SUR RATE E.Cess


efined
40000 0% 0% 0%
60000 10% 0% 0%
150000 20% 0% 0%
30% 0% 0%

Very Senior Citizen SUR RATE E.Cess


efined

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)

50000 0% 0% 0%
60000 10% 0% 0%
150000 20% 0% 0%
30% 0% 0%

Very Senior Citizen SUR RATE E.Cess


efined
50000 0% 0% 0%
60000 10% 0% 0%
150000 20% 10% 0%
30% 10% 0%

Very Senior Citizen SUR RATE E.Cess


efined
50000 0% 0% 0%
60000 10% 0% 0%
150000 20% 12% 0%
30% 17% 0%

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)

Very Senior Citizen SUR RATE E.Cess


efined
50000 0% 0% 0%
60000 10% 0% 0%
150000 20% 2% 0%
30% 2% 0%

Very Senior Citizen SUR RATE E.Cess


efined
50000 0% 0% 0%
60000 10% 0% 0%
150000 20% 5% 0%
30% 5% 0%

Very Senior Citizen SUR RATE E.Cess


efined
50000 0% 0% 0%
60000 10% 0% 0%
150000 20% 10% 0%
30% 10% 0%

Very Senior Citizen SUR RATE E.Cess


efined
50000 0% 0% 0%
60000 10% 0% 2%

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)

150000 20% 10% 2%


30% 10% 2%

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)

Very Senior Citizen SUR RATE E.Cess


efined
185000 0% 0% 0%
250000 20% 0% 2%
30% 10% 2%

Very Senior Citizen SUR RATE E.Cess


efined
185000 0% 0% 0%
250000 20% 0% 2%
30% 10% 2%

Very Senior Citizen SUR RATE E.Cess


efined
195000 0% 0% 0%
250000 20% 10% 3%
30% 10% 3%

Very Senior Citizen SUR RATE E.Cess


efined
225000 0% 0% 0%
300000 10% 0% 3%

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)

500000 20% 0% 3%
30% 10% 3%

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)

Very Senior Citizen SUR RATE E.Cess


efined
240000 0% 0% 0%
300000 10% 0% 3%
500000 20% 0% 3%
30% 0% 3%

Very Senior Citizen SUR RATE E.Cess


efined
240000 0% 0% 0%
500000 10% 0% 3%
800000 20% 0% 3%
30% 0% 3%

Very Senior Citizen SUR RATE E.Cess


(above 80 years)
500000 0% 0% 0%
800000 20% 0% 3%
30% 0% 3%

Very Senior Citizen SUR RATE E.Cess


(above 80 years)
500000 0% 0% 0%
1000000 20% 0% 3%

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)

30% 0% 3%

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)

Very Senior Citizen SUR RATE E.Cess


(above 80 years)
500000 0% 0% 0%
1000000 20% 0% 3%
30% 10% 3%

Very Senior Citizen SUR RATE E.Cess


(above 80 years)
500000 0% 0% 0%
1000000 20% 0% 3%
30% 10% 3%

Very Senior Citizen SUR RATE E.Cess


(above 80 years)
500000 0% 0% 0%
1000000 20% 0% 3%
30% 12% 3%

Very Senior Citizen SUR RATE E.Cess


(above 80 years)
500000 0% 0% 0%
1000000 20% 0% 3%

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)

30% 15% 3%

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)

Very Senior Citizen SUR RATE E.Cess


(above 80 years)
500000 0% 0% 0%
1000000 20% 0% 3%
30% 15% 3%

Very Senior Citizen SUR RATE Cess


(above 80 years)
500000 0% 0% 0%
1000000 20% 0% 4%
30% 15% 4%

Very Senior Citizen SUR RATE Cess


(above 80 years)
500000 0% 0% 0%
1000000 20% 0% 4%
30% 15% 4%

00000,25% ,if Taxable Income >20000000 &

much more… Back

16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Financial Year 2008-09 View_Caculate_Find_out_various_key_points_relating_to_TDS

Individual / HUF Where


Company Total Payment Does
Where Total Company Where Not Exceed Rs. 10 Lacs;
Nature of Payment Made To Residents Payment Is Total Payment
Threshold ( Firm Where Total
Upto Rs. 1 Exceeds Rs. 1 Crore
Rs.) Payment Does Not
Crore Exceed Rs. 1 Crore

Surcharge Rate
Section - Description Rate (%) Rate (%)
(%) (%)
Average rates as
192 - Salaries - NA NA - applicable
193 - Interest on securities - - - - -
194 - Dividends - - - - -
194A - Other Interest 5000 20 20 10 10
194A - Banks - - - - -
194B - Winning from Lotteries 5000 30 30 10 30
194BB - Winnings from Horse Race - - - - -
194C - Payment to Contractors 20000 2 2 10 2

Payment to Contractors - Single Transaction - - - - -


Payment to Contractors - Aggregate during
FY 20000 2 2 10 2
194C - Pay to Adv / Sub Contr 20000 1 1 10 1
194D - Insurance Commission 5000 20 20 10 10
Financial Year 2008-09 View_Caculate_Find_out_various_key_points_relating_to_TDS

Individual / HUF Where


Company Total Payment Does
Where Total Company Where Not Exceed Rs. 10 Lacs;
Nature of Payment Made To Residents Payment Is Total Payment
Threshold ( Firm Where Total
Upto Rs. 1 Exceeds Rs. 1 Crore
Rs.) Payment Does Not
Crore Exceed Rs. 1 Crore

Surcharge Rate
Section - Description Rate (%) Rate (%)
(%) (%)
Payment to Contractors - Aggregate During
FY - - - - -
194EE - Payments out of deposits under
NSS - - - - -
194F - Repurchase Units by MFs - - - - -
194G - Commission - Lottery - - - - -
194H - Commission / Brokerage 2500 10 10 10 10
194I - Rent - Land and Building 120000 20 20 10 15
194I - Rent - Plant / Machinery 120000 10 10 10 10
194J - Professional Fees 20000 20 20 10 15
194K - Income in respect of units - - - - -
194LA - Immovable Property - - - - -

194LB - Income by way of interest from


infrastructure debt fund (non-resident) - - - - -
195 - Other Sums - - - - -
Financial Year 2008-09 View_Caculate_Find_out_various_key_points_relating_to_TDS

Individual / HUF Where


Company Total Payment Does
Where Total Company Where Not Exceed Rs. 10 Lacs;
Nature of Payment Made To Residents Payment Is Total Payment
Threshold ( Firm Where Total
Upto Rs. 1 Exceeds Rs. 1 Crore
Rs.) Payment Does Not
Crore Exceed Rs. 1 Crore

Surcharge Rate
Section - Description Rate (%) Rate (%)
(%) (%)
196B - Income from units - - - - -
196D - Income of FIIs from securities - - - - -
Notes 1. For banks, threshold limit is (Rs.) 10,000/- w.e.f. 01-Jun-2007
2. For Firm / Co-operative Society / Local Authority, rate is 20%. Net rate will be 20.6%
3. For Firm, rate is 20%
4. (Rs.) 20,000/- for single payment & (Rs.) 50,000/- for aggregate payment during a financial year
Home

Individual / HUF Where


Total Payment
Exceeds Rs. 10 Lacs;
Firm Where Total
Payment Exceeds Rs. 1
Crore

Surcharge Rate (%)


(%)

10
- -
- -
10 10
- -
10 30
- -
10 2

- -

10 2
10 1
10 10
Home

Individual / HUF Where


Total Payment
Exceeds Rs. 10 Lacs;
Firm Where Total
Payment Exceeds Rs. 1
Crore

Surcharge Rate (%)


(%)

- -

- -
- -
- -
10 10
10 15
10 10
10 15
- -
- -

- -
- -
Home

Individual / HUF Where


Total Payment
Exceeds Rs. 10 Lacs;
Firm Where Total
Payment Exceeds Rs. 1
Crore

Surcharge Rate (%)


(%)
- -
- -

ate will be 20.6%

ent during a financial year


Financial Year 2009-10 View_Caculate_Find_out_various_key_points_relating_to_TDS

Upto 30-Sep-2009

Company / Firm /
Co-operative Society Individual /
Nature of Payment Made To Residents Threshold (Rs.) HUF
/ Local Authority

Rate (%) Rate (%)


192 - Salaries - NA Average rates
as applicable

193 - Interest on securities - - -


194 - Dividends - - -
194A - Other Interest 5000 10 10
194A - Banks - - -
194B - Winning from Lotteries 5000 30 30
194BB - Winnings from Horse Race - - -
194 C - Payment to Contractors - - -
- Payment to Contractor - Single Transaction 20000 2 2
- Payment to Contractor - Aggregate During the F.Y. 50000 2 2

- Contract - Transporter who has provided valid PAN - - -

194 C - Payment to Sub-Contractors - - -


- Payment to Sub-Contractor - Single Transaction 20000 1 1

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2009-10 View_Caculate_Find_out_various_key_points_relating_to_TDS

Upto 30-Sep-2009

Company / Firm /
Co-operative Society Individual /
Nature of Payment Made To Residents Threshold (Rs.) HUF
/ Local Authority

Rate (%) Rate (%)


- Payment to Sub-Contractor - Aggregate During the F.Y. 50000 1 1

- Sub-Contract - Transporter who has provided valid - - -


PAN
194D - Insurance Commission 5000 10 10
194E - Payment to Non-Resident Sportsmen or Sports - - -
Association
194EE - Payments out of deposits under NSS - - -
194F - Repurchase Units by MFs - - -
194G - Commission - Lottery - - -
194H - Commission / Brokerage 2500 10 10
194I - Rent - Land and Building 120000 20 15
194I - Rent - Plant / Machinery 120000 10 10
194J - Professional Fees 20000 10 10
194K - Income in respect of units - - -
194LA - Immovable Property - - -

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2009-10 View_Caculate_Find_out_various_key_points_relating_to_TDS

Upto 30-Sep-2009

Company / Firm /
Co-operative Society Individual /
Nature of Payment Made To Residents Threshold (Rs.) HUF
/ Local Authority

Rate (%) Rate (%)


194LB - Income by way of interest from infrastructure - - -
debt fund (non-resident)
195 - Other Sums - - -
196B - Income from units - - -
196D - Income of FIIs from securities - - -
Notes 1. For banks, threshold limit is (Rs.) 10,000/- w.e.f. 01-Jun-2007
2. (Rs.) 20,000/- for single payment & (Rs.) 50,000/- for aggregate payment during a financial

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

From 01-Oct-2009
Company / Firm /
Co-operative Individual /
Society / Local HUF
Authority
Rate (%) Rate (%)
NA Average rates
as applicable

- -
- -
10 10
- -
30 30
- -
- -
2 1
2 1

- -

- -
2 1

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

From 01-Oct-2009
Company / Firm /
Co-operative Individual /
Society / Local HUF
Authority
Rate (%) Rate (%)
2 1

- -

20 10
- -

- -
- -
- -
20 10
10 10
2 2
10 10
- -
- -

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

From 01-Oct-2009
Company / Firm /
Co-operative Individual /
Society / Local HUF
Authority
Rate (%) Rate (%)
- -

- -
- -
- -
01-Jun-2007
- for aggregate payment during a financial year

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
View_Caculate_Find_out_various_key_points_relating_to_TDS
Financial Year 2010-11
Company / Firm / Co- If No /
Individual /
Nature of Payment Made To Residents operative Society / Local Invalid
Threshold ( Authority HUF PAN
Rs.)
Upto 30-Jun- From 01-Jul-
Section - Description Rate (%) Rate (%)
2010 2010
192 - Salaries - - NA Average rates 20
as applicable

193 - Interest on securities - - - - -


194 - Dividends - - 10 10 20
194A - Other Interest 5000 5000 10 10 20
194A - Banks 10000 10000 10 10 20
194B - Winning from Lotteries 5000 10000 30 30 30
194BB - Winnings from Horse Race 2500 2500 30 30 30
194 C - Payment to Contractors - - - - -
- Payment to Contractor - Single Transaction 20000 30000 2 1 20
- Payment to Contractor - Aggregate During the F.Y. 50000 75000 2 1 20
- Contract - Transporter who has provided valid PAN - - - - 20

194D - Insurance Commission 5000 20000 10 10 20


194E - Payment to Non-Resident Sportsmen or Sports - - - - -
Association
194EE - Payments out of deposits under NSS - - - - -

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
View_Caculate_Find_out_various_key_points_relating_to_TDS
Financial Year 2010-11
Company / Firm / Co- If No /
Individual /
Nature of Payment Made To Residents operative Society / Local Invalid
Threshold ( Authority HUF PAN
Rs.)
Upto 30-Jun- From 01-Jul-
Section - Description Rate (%) Rate (%)
2010 2010
194F - Repurchase Units by MFs 1000 1000 20 20 20
194G - Commission - Lottery 1000 1000 10 10 20
194H - Commission / Brokerage 2500 5000 10 10 20
194I - Rent - Land and Building 120000 180000 10 10 20
194I - Rent - Plant / Machinery 120000 180000 2 2 20
194J - Professional Fees 20000 30000 10 10 20
194K - Income in respect of units - - - - -
194LA - Immovable Property 100000 100000 10 10 20
194LB - Income by way of interest from infrastructure - - - - -
debt fund (non-resident)
195 - Other Sums - - - - -
196B - Income from units - - - - -
196D - Income of FIIs from securities - - - - -

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2011-12 View_Caculate_Find_out_various_key_points_relating_to_TDS

Company / Firm / Individual /


Nature of Payment Made To Residents Co-operative Society
Threshold (Rs.) HUF
/ Local Authority

Section - Description Rate (%) Rate (%)


192 - Salaries
Average rates
- NA as applicable
193 - Interest on securities - 10 10
194 - Dividends 10 10
194A - Other Interest 5000 10 10
194A - Banks 10000 10 10
194B - Winning from Lotteries 10000 30 30
194BB - Winnings from Horse Race 5000 30 30
194 C - Payment to Contractors - - -
- Payment to Contractor - Single Transaction 30000 2 1
- Payment to Contractor - Aggregate During the F.Y. 75000 2 1
- Contract - Transporter who has provided valid PAN - - -
194D - Insurance Commission 20000 10 10
194E - Payment to Non-Resident Sportsmen or Sports
Association - 10 10
194EE - Payments out of deposits under NSS 2500 20 -
194F - Repurchase Units by MFs 1000 20 20
194G - Commission - Lottery 1000 10 10
Financial Year 2011-12 View_Caculate_Find_out_various_key_points_relating_to_TDS

Company / Firm / Individual /


Nature of Payment Made To Residents Co-operative Society
Threshold (Rs.) HUF
/ Local Authority

Section - Description Rate (%) Rate (%)


194H - Commission / Brokerage 5000 10 10
194I - Rent - Land and Building 180000 10 10
194I - Rent - Plant / Machinery 180000 2 2
194J - Professional Fees 30000 10 10
194K - Income in respect of units 2500 10 10
194LA - Immovable Property 100000 10 10
194LB - Income by way of interest from infrastructure debt
fund (non-resident) 5 5
195 - Other Sums - Average rates as applicable
196B - Income from units 10 10
196D - Income of FIIs from securities 20 20 20
Notes

1. In case of no / invalid PAN, section 206AA will apply, i.e., higher of the following will be the applicable rate:
a. Rates specified in the relevant provisions of the Act
b. Rates or rates in force
c. At the rate of 20%
Home

If No / Invalid
PAN

Rate (%)

30
20
20
20
20
30
30
-
20
20
20
20

20
20
20
20
Home

If No / Invalid
PAN

Rate (%)
20
20
20
20
20
20

20
30
20
20
Home
Financial Year 2012-13 View_Caculate_Find_out_various_key_points_relating_to_TDS

Company /
Firm / Co- If No / Invalid
Nature of Payment Made To Residents Threshold operative Individual / HUF PAN
(Rs.) Society / Local
Authority

Section - Description Rate (%) Rate (%) Rate (%)


Average rates as
192 - Salaries - NA applicable 30
193 - Interest on securities - 10 10 20
194 - Dividends - 10 10 20

194A - Interest other than interest on securities - Others 5000 10 10 20


194A - Banks 10000 10 10 20
194B - Winning from Lotteries 10000 30 30 30
194BB - Winnings from Horse Race 5000 30 30 30
194 C - Payment to Contractors - - - -
- Payment to Contractor - Single Transaction 30000 2 1 20
- Payment to Contractor - Aggregate During the F.Y. 75000 2 1 20
- Contract - Transporter who has provided valid PAN - - - 20
194D - Insurance Commission 20000 10 10 20
194E - Payment to Non-Resident Sportsmen or Sports
Association - - - -
- Applicable up to June 30, 2012 - 10 10 20

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
Financial Year 2012-13 View_Caculate_Find_out_various_key_points_relating_to_TDS

Company /
Firm / Co- If No / Invalid
Nature of Payment Made To Residents Threshold operative Individual / HUF PAN
(Rs.) Society / Local
Authority

Section - Description Rate (%) Rate (%) Rate (%)


- Applicable from July 1, 2012 - 20 20 20
194EE - Payments out of deposits under NSS 2500 20 - 20
194F - Repurchase Units by MFs 1000 20 20 20
194G - Commission - Lottery 1000 10 10 20
194H - Commission / Brokerage 5000 10 10 20
194I - Rent - Land and Building 180000 10 10 20
194I - Rent - Plant / Machinery 180000 2 2 20
194J - Professional Fees 30000 10 10 20
194LA - Immovable Property 100000 10 10 20
194LB - Income by way of interest from infrastructure debt
fund (non-resident) - 5 5 20

Sec 194 LC - Income by way of interest by an Indian specified


company to a non-resident / foreign company on foreign
currency approved loan / long-term infrastructure bonds
from outside India (applicable from July 1, 2012) - 5 5 20

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
Financial Year 2012-13 View_Caculate_Find_out_various_key_points_relating_to_TDS

Company /
Firm / Co- If No / Invalid
Nature of Payment Made To Residents Threshold operative Individual / HUF PAN
(Rs.) Society / Local
Authority

Section - Description Rate (%) Rate (%) Rate (%)

Average rates
195 - Other Sums - as applicable - 30
196B - Income from units - 10 10 20

196C-Income from foreign currency bonds or GDR (including


long-term capital gains on transfer of such bonds) (not being
dividend) - 10 10 20
196D - Income of FIIs from securities 20 20 20 20

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2013-14 View_Caculate_Find_out_various_key_points_relating_to_TDS

Company / Firm /
Co-operative
Nature of Payment Made To Residents Threshold ( Society / Local Individual / HUF
Rs.) Authority
Section - Description Rate (%) Rate (%)
192 - Salaries - NA Average rates as
applicable
193 - Interest on securities - 10 10
194 - Dividends - 10 10
194A - Interest other than interest on securities - Others 5000 10 10
194A - Banks 10000 10 10
194B - Winning from Lotteries 10000 30 30
194BB - Winnings from Horse Race 5000 30 30
194 C - Payment to Contractors - - -
- Payment to Contractor - Single Transaction 30000 2 1
- Payment to Contractor - Aggregate During the F.Y. 75000 2 1
- Contract - Transporter who has provided valid PAN - - -
194D - Insurance Commission 20000 10 10
194E - Payment to Non-Resident Sportsmen or Sports Association - 20 20

194EE - Payments out of deposits under NSS 2500 20 -


194F - Repurchase Units by MFs - 20 20
194G - Commission - Lottery 1000 10 10

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2013-14 View_Caculate_Find_out_various_key_points_relating_to_TDS

Company / Firm /
Co-operative
Nature of Payment Made To Residents Threshold ( Society / Local Individual / HUF
Rs.) Authority
Section - Description Rate (%) Rate (%)
194H - Commission / Brokerage 5000 10 10
194I - Rent - Land and Building 180000 10 10
194I - Rent - Plant / Machinery 180000 2 2
194IA -Transfer of certain immovable property other than agriculture - - -
land(upto 31-5-2013)
194IA -Transfer of certain immovable property other than agriculture 5000000 1 1
land(w.e.f 1-6-2013)
194J - Professional Fees 30000 10 10
194LA - Immovable Property 200000 10 10
194LB - Income by way of interest from infrastructure debt fund (non- - 5 5
resident)
Sec 194 LC - Income by way of interest by an Indian specified company - 5 5
to a non-resident / foreign company on foreign currency approved
loan / long-term infrastructure bonds from outside India (applicable
from July 1, 2012)

194LD - Interest on certain bonds and govt. Securities(up to 31-05- - - -


2013)

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2013-14 View_Caculate_Find_out_various_key_points_relating_to_TDS

Company / Firm /
Co-operative
Nature of Payment Made To Residents Threshold ( Society / Local Individual / HUF
Rs.) Authority
Section - Description Rate (%) Rate (%)
194LD - Interest on certain bonds and govt. Securities(from 01-06-2013) - 5 5

195 - Other Sums - Average rates as -


applicable
196B - Income from units - 10 10
196C-Income from foreign currency bonds or GDR (including long-term - 10 10
capital gains on transfer of such bonds) (not being dividend)

196D - Income of FIIs from securities 20 20 20

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

If No /
Invalid PAN

Rate (%)
30

20
20
20
20
30
30
-
20
20
20
20
20

20
20
20

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

If No /
Invalid PAN

Rate (%)
20
20
20
-

20

20
20
20

20

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

If No /
Invalid PAN

Rate (%)
20

30

20
20

20

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2014-15 View_Caculate_Find_out_various_key_points_relating_to_TDS

Company / Firm /
Nature of Payment Made To Residents Co-operative Society Individual / HUF
Threshold (Rs.) / Local Authority

Section - Description Rate (%) Rate (%)


192 - Salaries - NA Average rates as
applicable
193 - Interest on securities - 10 10
194 - Dividends 2500 10 10
194A - Interest other than interest on securities - Others 5000 10 10
194A - Banks 10000 10 10
194B - Winning from Lotteries 10000 30 30
194BB - Winnings from Horse Race 5000 30 30
194 C - Payment to Contractors - - -
- Payment to Contractor - Single Transaction 30000 2 1
- Payment to Contractor - Aggregate During the F.Y. 75000 2 1
- Contract - Transporter who has provided valid PAN - - -
194D - Insurance Commission 20000 10 10
194DA Payment in respect of life insurance policy(applicable 100000 2 2
from 01.1.2014)
194E - Payment to Non-Resident Sportsmen or Sports Association - 20 20

194EE - Payments out of deposits under NSS 2500 20 -

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2014-15 View_Caculate_Find_out_various_key_points_relating_to_TDS

Company / Firm /
Nature of Payment Made To Residents Co-operative Society Individual / HUF
Threshold (Rs.) / Local Authority

Section - Description Rate (%) Rate (%)


194F - Repurchase Units by MFs - 20 20
194G - Commission - Lottery 1000 10 10
194H - Commission / Brokerage 5000 10 10
194I - Rent - Land and Building - furniture - fittings 180000 10 10
194I - Rent - Plant / Machinery / equipment 180000 2 2
194IA -Transfer of certain immovable property other than 5000000 1 1
agriculture land(w.e.f 1-6-2013)
194J - Professional Fees 30000 10 10
194LA - Immovable Property 200000 10 10
194LB - Income by way of interest from infrastructure debt fund - 5 5
(non-resident)
194LB - Income by way of interest from infrastructure debt fund - 5 5
(non-resident)
Sec 194 LC - Income by way of interest by an Indian specified - 5 5
company to a non-resident / foreign company on foreign
currency approved loan / long-term infrastructure bonds from
outside India (applicable from July 1, 2012)

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2014-15 View_Caculate_Find_out_various_key_points_relating_to_TDS

Company / Firm /
Nature of Payment Made To Residents Co-operative Society Individual / HUF
Threshold (Rs.) / Local Authority

Section - Description Rate (%) Rate (%)


194LD - Interest on certain bonds and govt. Securities(from 01- - 5 5
06-2013)
195 - Other Sums - Average rates as -
applicable
196B - Income from units - 10 10
196C-Income from foreign currency bonds or GDR (including - 10 10
long-term capital gains on transfer of such bonds) (not being
dividend)

196D - Income of FIIs from securities - 20 20

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

If No / Invalid
PAN

Rate (%)
30

20
20
20
20
30
30
-
20
20
20
20
20

20

20

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

If No / Invalid
PAN

Rate (%)
20
20
20
20
20
20

20
20
20

20

20

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

If No / Invalid
PAN

Rate (%)
20

30

20
20

20

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2015-16 View_Caculate_Find_out_various_key_points_relating_to_TDS

Company / Non Residents


Firm / Co- If No / other than
Nature of Payment Made To Residents operative Individual / HUF Invalid company (if
Threshold ( Society / Local PAN income exceeds
Rs.) Authority Rs.1 Crore)

IT Rate Surcharge Rate


Section - Description IT Rate (%) IT Rate (%) (%) (%)
192 - Salaries - NA Average rates as 30 -
applicable
192A - Payment of accumulated balance 30000 - 10 30 -
due
193 - Interest on securities - 10 10 20 -
194 - Dividends 2500 10 10 20 -
194A - Interest other than interest on 5000 10 10 20 -
securities - Others
194A - Banks 10000 10 10 20 -
194B - Winning from Lotteries 10000 30 30 30 12
194BB - Winnings from Horse Race 5000 30 30 30 12
194 C - Payment to Contractors - - - - -
- Payment to Contractor - Single 30000 2 1 20 -
Transaction

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2015-16 View_Caculate_Find_out_various_key_points_relating_to_TDS

Company / Non Residents


Firm / Co- If No / other than
Nature of Payment Made To Residents operative Individual / HUF Invalid company (if
Threshold ( Society / Local PAN income exceeds
Rs.) Authority Rs.1 Crore)

IT Rate Surcharge Rate


Section - Description IT Rate (%) IT Rate (%) (%) (%)
- Payment to Contractor - Aggregate 75000 2 1 20 -
During the F.Y.
- Contract - Transporter who has provided - - - 20 -
valid PAN
194D - Insurance Commission 20000 10 10 20 -
194DA Payment in respect of life insurance 100000 2 2 20 -
policy(applicable from 01.10.2014)

194E - Payment to Non-Resident - 20 20 20 12


Sportsmen or Sports Association
194EE - Payments out of deposits under 2500 20 20 20 12
NSS
194F - Repurchase Units by MFs - 20 20 20 12
194G - Commission - Lottery 1000 10 10 20 12
194H - Commission / Brokerage 5000 10 10 20 -

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2015-16 View_Caculate_Find_out_various_key_points_relating_to_TDS

Company / Non Residents


Firm / Co- If No / other than
Nature of Payment Made To Residents operative Individual / HUF Invalid company (if
Threshold ( Society / Local PAN income exceeds
Rs.) Authority Rs.1 Crore)

IT Rate Surcharge Rate


Section - Description IT Rate (%) IT Rate (%) (%) (%)
194I - Rent - Land and Building / furniture / 180000 10 10 20 -
fittings
194I - Rent - Plant / Machinery / 180000 2 2 20 -
equipment
194IA -Transfer of certain immovable 5000000 1 1 20 -
property other than agriculture land(w.e.f
1-6-2013)

194J - Professional Fees 30000 10 10 20 -


194LA - Immovable Property 200000 10 10 20 -
194LB - Income by way of interest from - 5 5 20 12
infrastructure debt fund (non-resident)

194LBA - Certain income from units of a - 10 10 20 -


business trust(applicable from 01.10.2014)

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2015-16 View_Caculate_Find_out_various_key_points_relating_to_TDS

Company / Non Residents


Firm / Co- If No / other than
Nature of Payment Made To Residents operative Individual / HUF Invalid company (if
Threshold ( Society / Local PAN income exceeds
Rs.) Authority Rs.1 Crore)

IT Rate Surcharge Rate


Section - Description IT Rate (%) IT Rate (%) (%) (%)
194LBA - Certain income from units of a - 5 5 20 12
business trust to non resident (applicable
from 01.10.2014)

194LBB - Income in respect of units of - 10 10 20 12


investment fund. (applicable from
01.06.2015)

Sec 194 LC - Income by way of interest by - 5 5 20 12


an Indian specified company to a non-
resident / foreign company on foreign
currency approved loan / long-term
infrastructure bonds from outside India
(applicable from July 1, 2012)

194LD - Interest on certain bonds and - 5 5 20 -


govt. Securities(from 01-06-2013)

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2015-16 View_Caculate_Find_out_various_key_points_relating_to_TDS

Company / Non Residents


Firm / Co- If No / other than
Nature of Payment Made To Residents operative Individual / HUF Invalid company (if
Threshold ( Society / Local PAN income exceeds
Rs.) Authority Rs.1 Crore)

IT Rate Surcharge Rate


Section - Description IT Rate (%) IT Rate (%) (%) (%)
195 - Other Sums - Average rates - 30 12
as applicable

196B - Income from units - 10 10 20 12


196C-Income from foreign currency bonds - 10 10 20 12
or GDR (including long-term capital gains
on transfer of such bonds) (not being
dividend)

196D - Income of FIIs from securities - 20 20 20 12

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

Non Resident Non Resident


companies if companies if
income is income is
between Rs.1 greater than
Crore and 10 Rs.10 Crore
Crore

Surcharge Rate Surcharge


(%) Rate (%)
-

- -

- -
- -
- -

- -
2 5
2 5
- -
- -

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

Non Resident Non Resident


companies if companies if
income is income is
between Rs.1 greater than
Crore and 10 Rs.10 Crore
Crore

Surcharge Rate Surcharge


(%) Rate (%)
- -

- -

- -
- -

2 5

2 5

2 5
2 5
- -

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

Non Resident Non Resident


companies if companies if
income is income is
between Rs.1 greater than
Crore and 10 Rs.10 Crore
Crore

Surcharge Rate Surcharge


(%) Rate (%)
- -

- -

- -

- -
- -
2 5

- -

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

Non Resident Non Resident


companies if companies if
income is income is
between Rs.1 greater than
Crore and 10 Rs.10 Crore
Crore

Surcharge Rate Surcharge


(%) Rate (%)
2 5

2 5

2 5

- -

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

Non Resident Non Resident


companies if companies if
income is income is
between Rs.1 greater than
Crore and 10 Rs.10 Crore
Crore

Surcharge Rate Surcharge


(%) Rate (%)
2 5

2 5
2 5

2 5

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore

Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
192 - Salaries - NA Average rates as 30 - -
applicable
192A - Payment of accumulated 30000 - 10% (1-April-2016 30 - -
balance due to an employee. to 31-May-2016)
(applicable from 01.06.2015)
10% (1-Jun-2016 to
31-Mar-2017)
193 - Interest on securities 10000 10 10 20 - -
194 - Dividends 2500 10 10 20 - -
194A - Interest other than - 10 10 20 - -
interest on securities - Others
194A - Banks 10000 10 10 20 - -
194B - Winning from Lotteries 10000 30 30 30 15 2

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore

Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
194BB - Winnings from Horse 5000 (1-April-2016 30 30 30 15 2
Race to 31-May-2016)

10000 (1-Jun-2016
to 31-Mar-2017)

194 C - Payment to Contractors - - - - - -

Payment to Contractor 75000 (1-April- 2 1 20 - -


2016 to 31-May-
2016)

100000 (1-April-
2016 to 31-Mar-
2017)

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore

Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
- Contract - Transporter who has - - - 20 - -
provided valid PAN
194D - Insurance Commission 20000 (1-April- 10 5 20 - -
2016 to 31-May-
2016)

15000 (1-June-
2016 to 31-Mar-
2017)

194DA Payment in respect of life 100000 2 % (1-April- 2 % (1-April-2016 20 - -


insurance policy(applicable from 2016 to 31- to 31-May-2016)
01.10.2014) May-2016)

1 % (1-June- 1 % (1-June-2016 to
2016 to 31- 31-Mar-2017)
Mar-2017)

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore

Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
194E - Payment to Non-Resident - 20 20 20 12 2
Sportsmen or Sports Association

194EE - Payments out of 2500 20% (1-April- 20% (1-April-2016 20 15 2


deposits under NSS 2016 to 31- to 31-May-2016)
May-2016)

10% (1-Jun- 10% (1-Jun-2016 to


2016 to 31- 31-Mar-2017)
Mar-2017)

194F - Repurchase Units by MFs 0 20 20 20 15 2

194G - Commission - Lottery 1000 (1-April-2016 10% (1-April- 10% (1-April-2016 20 15 2


to 31-May-2016) 2016 to 31- to 31-May-2016)
May-2016)

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore

194G - Commission - Lottery 20 15 2


Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
15000 (1-Jun-2016 5 % (1-Jun- 5 % (1-Jun-2016 to
to 31-Mar-2017) 2016 to 31- 31-Mar-2017)
Mar-2017)

194H - Commission / Brokerage 5000 (1-April-2016 10% (1-April- 10% (1-April-2016 20 - -


to 31-May-2016) 2016 to 31- to 31-May-2016)
May-2016)

15000 (1-Jun-2016 5 % (1-Jun- 5 % (1-Jun-2016 to


to 31-Mar-2017) 2016 to 31- 31-Mar-2017)
Mar-2017)

194I - Rent - Land and Building / 180000 10 10 20 - -


furniture / fittings
194I - Rent - Plant / Machinery / 180000 2 2 20 - -
equipment

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore

Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
194IA -Transfer of certain 5000000 1 1 20 - -
immovable property other than
agriculture land(w.e.f 1-6-2013)

194J - Professional Fees 30000 10 10 20 - -


194LA - Immovable Property 200000 (1-April- 10 10 20 - -
2016 to 31-May-
2016)

250000 (1-June-
2016 to 31-Mar-
2017)

194LB - Income by way of - 5 5 20 15 2


interest from infrastructure debt
fund (non-resident)

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore

Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
194LBA - Certain income from - 10 10 20 - -
units of a business
trust(applicable from
01.10.2014)

194LBA - Certain income from - 5 5 20 15 2


units of a business trust to non
resident (applicable from
01.10.2014)

194LBB - Income in respect of - 10% For 10% For Residents 20/30/40 15 2


units of investment fund. Residents
(applicable from 01.06.2015)
10% For Non 10% For Non
Residents (1- Residents ( 1-April-
April-2016 to 2016 to 31-May-
31-May-2016) 2016)

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
194LBB - Income in respect of - Society / Local 20/30/40 income exceeds15 between Rs.12
units of investment fund. Authority Rs.1 Crore) Crore and 10
(applicable from 01.06.2015) Crore

Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
40% For Non 30 % For
Residents (1- NonResidents (1-
Jun-2016 to Jun-2016 to 31-
31-Mar-2017) Mar-2017)

Sec 194LBC - Income in respect - 30% For 25% For Residents 25/30/40 15 2
of investment in securitisation Residents
trust.
40% For Non 30% For Non
Residents Residents

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore

Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
Sec 194 LC - Income by way of - 5 5 20 15 2
interest by an Indian specified
company to a non-resident /
foreign company on foreign
currency approved loan / long-
term infrastructure bonds from
outside India (applicable from
July 1, 2012)

194LD - Interest on certain - 5 5 20 - -


bonds and govt. Securities(from
01-06-2013)

195 - Other Sums - Average rates - 30 15 2


as applicable

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore

Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
196A-Foreign comp unit holder - 10 20 20 15 2
of MF
196B - Income from units - 10 10 20 15 2
196C-Income from foreign - 10 10 20 15 2
currency bonds or GDR
(including long-term capital gains
on transfer of such bonds) (not
being dividend)

196D - Income of FIIs from - 20 20 20 15 2


securities

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

Non Resident Surcharge on


companies if Coperative Society
income is & Firms in case of
greater than Non-Residents(if
Rs.10 Crore income exceeds
Rs. 1 crore)

Surcharge Rate Surcharge Rate


(%) (%)
-

- -

- -
- -
- -

- -
5 12

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

Non Resident Surcharge on


companies if Coperative Society
income is & Firms in case of
greater than Non-Residents(if
Rs.10 Crore income exceeds
Rs. 1 crore)

Surcharge Rate Surcharge Rate


(%) (%)
5 12

- -

- -

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

Non Resident Surcharge on


companies if Coperative Society
income is & Firms in case of
greater than Non-Residents(if
Rs.10 Crore income exceeds
Rs. 1 crore)

Surcharge Rate Surcharge Rate


(%) (%)
- -

- -

- -

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

Non Resident Surcharge on


companies if Coperative Society
income is & Firms in case of
greater than Non-Residents(if
Rs.10 Crore income exceeds
Rs. 1 crore)

Surcharge Rate Surcharge Rate


(%) (%)
5 -

5 12

5 12

5 12

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

Non Resident Surcharge on


companies if Coperative Society
income is & Firms in case of
greater than Non-Residents(if
Rs.10 Crore income exceeds
Rs. 1 crore)

5 12
Surcharge Rate Surcharge Rate
(%) (%)

- -

- -

- -

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

Non Resident Surcharge on


companies if Coperative Society
income is & Firms in case of
greater than Non-Residents(if
Rs.10 Crore income exceeds
Rs. 1 crore)

Surcharge Rate Surcharge Rate


(%) (%)
- -

- -
- -

5 12

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

Non Resident Surcharge on


companies if Coperative Society
income is & Firms in case of
greater than Non-Residents(if
Rs.10 Crore income exceeds
Rs. 1 crore)

Surcharge Rate Surcharge Rate


(%) (%)
- -

5 12

5 12

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

Non Resident Surcharge on


companies if Coperative Society
income is & Firms in case of
5
greater than Non-Residents(if 12
Rs.10 Crore income exceeds
Rs. 1 crore)

Surcharge Rate Surcharge Rate


(%) (%)

5 12

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

Non Resident Surcharge on


companies if Coperative Society
income is & Firms in case of
greater than Non-Residents(if
Rs.10 Crore income exceeds
Rs. 1 crore)

Surcharge Rate Surcharge Rate


(%) (%)
5 12

- -

5 12

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home

Non Resident Surcharge on


companies if Coperative Society
income is & Firms in case of
greater than Non-Residents(if
Rs.10 Crore income exceeds
Rs. 1 crore)

Surcharge Rate Surcharge Rate


(%) (%)
5 12

5 12
5 12

5 12

13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2017-18 View_Caculate_Find_out_various_key_points_relati

Non residents other Non Residents


Company / If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold ( operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
/ Local Authority
Rs.) Crore) Rs.1 Crore)

IT Rate Surcharge Rate


Section - Description IT Rate (%) IT Rate (%) Surcharge Rate (%)
(%) (%)
192A - Payment of accumulated 50000 - 10 30 - -
balance due to an employee.
(applicable from 01.06.2015)

193 - Interest on securities 10000 10 10 20 - -


194 - Dividends 2500 10 10 20 - -
194A - Interest other than interest on 10000 10 10 20 - -
securities - Others
194A - Banks 10000 10 10 20 - -
194B - Winning from Lotteries 10000 30 30 30 - 15
194BB - Winnings from Horse Race 10000 30 30 30 - 15
194 C - Payment to Contractors - - - - - -
Payment to Contractor 100000 2 1 20 - -
Contract - Transporter who has - - - 20 - -
provided valid PAN
194IC - Payment under Specified - 10 10 20 - -
agreement

16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company /
If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold ( operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
/ Local Authority
Rs.) Crore) Rs.1 Crore)

IT Rate Surcharge Rate


Section - Description IT Rate (%) IT Rate (%) Surcharge Rate (%)
(%) (%)
194D - Insurance Commission 15000 10 5 20 - -
194DA Payment in respect of life 100000 1 1 20 - -
insurance policy(applicable from
01.10.2014)
194E - Payment to Non-Resident - 20 20 20 10 15
Sportsmen or Sports Association
194EE - Payments out of deposits 2500 10% 10% 20 - 15
under NSS
194F - Repurchase Units by MFs 0 20 20 20 - 15
194G - Commission - Lottery 15000 5% 5% 20 - 15
194H - Commission / Brokerage 15000 5% 5% 20 - -
194I - Rent - Land and Building / 180000 10 10 20 - -
furniture / fittings
194I - Rent - Plant / Machinery / 180000 2 2 20 - -
equipment
194IA -Transfer of certain immovable 5000000 1 1 20 - -
property other than agriculture
land(w.e.f 1-6-2013)

16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company /
If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold ( operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
/ Local Authority
Rs.) Crore) Rs.1 Crore)

IT Rate Surcharge Rate


Section - Description IT Rate (%) IT Rate (%) Surcharge Rate (%)
(%) (%)
10 - Others 10 - Others
Deductee Deductee
2 - Where payee 2 - Where
engaged only in payee
the business of engaged only
operation of call in the
centre business of
operation of
call centre

194J - Professional Fees 30000 20 - -


194LA - Immovable Property 250000 10 10 20 - -
194LB - Income by way of interest - 5 5 20 10 15
from infrastructure debt fund (non-
resident)
194LBA - Certain income from units of - 10 10 20 - -
a business trust(applicable from
01.10.2014)
194LBA - Certain income from units of - 5 5 20 10 15
a business trust to non resident
(applicable from 01.10.2014)

16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company /
If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold ( operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
/ Local Authority
Rs.) Crore) Rs.1 Crore)

IT Rate Surcharge Rate


Section - Description IT Rate (%) IT Rate (%) Surcharge Rate (%)
(%) (%)
10% For 10% For
Residents Residents
10% For Non 10% For Non
Residents (1- Residents ( 1-
April-2016 to 31- April-2016 to
May-2016) 31-May-2016)

40% For Non 30 % For


Residents (1-Jun- NonResidents
2016 to 31-Mar- (1-Jun-2016 to
Sec 194LBB - Income in respect of units of 2017) 31-Mar-2017)
investment fund. - 20/30/40 10 15
30% For Residents 30% For
Residents
40% For Non 40% For Non
Residents Residents
25% for Individual 25% for
and HUF Individual and
Sec 194LBC - Income in respect of investment in HUF
securitisation trust. - 25/30/40 10 15

16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company /
If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold ( operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
/ Local Authority
Rs.) Crore) Rs.1 Crore)

IT Rate Surcharge Rate


Section - Description IT Rate (%) IT Rate (%) Surcharge Rate (%)
(%) (%)
Sec 194 LC - Income by way of interest - 5 5 20 10 15
by an Indian specified company to a
non-resident / foreign company on
foreign currency approved loan / long-
term infrastructure bonds from
outside India (applicable from July 1,
2012)

194LD - Interest on certain bonds and - 5 5 20 10 -


govt. Securities(from 01-06-2013)

195 - Other Sums - Average rates as - 30 - 15


applicable
196A-Foreign comp unit holder of MF - 10 20 20 10 15

196B - Income from units - 10 10 20 10 15


196C-Income from foreign currency - 10 10 20 10 15
bonds or GDR (including long-term
capital gains on transfer of such
bonds) (not being dividend)

16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company /
If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold ( operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
/ Local Authority
Rs.) Crore) Rs.1 Crore)

IT Rate Surcharge Rate


Section - Description IT Rate (%) IT Rate (%) Surcharge Rate (%)
(%) (%)
196D - Income of FIIs from securities - 20 20 20 10 15

16.18.1.22.5.19.8√97263.0458756048
Home
t_various_key_points_relating_to_TDS

Non
Resident
companies Non Resident Surcharge on
companies if Coperative Society &
if income is income is Firms in case of Non-
between
Rs.1 Crore greater than Residents(if income
Rs.10 Crore exceeds Rs. 1 crore)
and 10
Crore

Surcharge Surcharge Rate Surcharge Rate (%)


Rate (%) (%)
- -

- - -
- - -
- - -

- - -
2 5 12
2 5 12
- - -
- - -
- - -

- - -

16.18.1.22.5.19.8√97263.0458756048
Non
Resident
companies Non Resident Surcharge on
if income is companies if Coperative Society &
income is Firms in case of Non-
between
Rs.1 Crore greater than Residents(if income
Rs.10 Crore exceeds Rs. 1 crore)
and 10
Crore

Surcharge Surcharge Rate Surcharge Rate (%)


Rate (%) (%)
- - -
- - -

2 5 12

2 5 12

2 5 12
2 5 12
- - -
- - -

- - -

- - -

16.18.1.22.5.19.8√97263.0458756048
Non
Resident
companies Non Resident Surcharge on
if income is companies if Coperative Society &
income is Firms in case of Non-
between
Rs.1 Crore greater than Residents(if income
Rs.10 Crore exceeds Rs. 1 crore)
and 10
Crore

Surcharge Surcharge Rate Surcharge Rate (%)


Rate (%) (%)

- - -
- - -
2 5 12

- - -

2 5 12

16.18.1.22.5.19.8√97263.0458756048
Non
Resident
companies Non Resident Surcharge on
if income is companies if Coperative Society &
income is Firms in case of Non-
between
Rs.1 Crore greater than Residents(if income
Rs.10 Crore exceeds Rs. 1 crore)
and 10
Crore

Surcharge Surcharge Rate Surcharge Rate (%)


Rate (%) (%)

2 5 12

2 5 12

16.18.1.22.5.19.8√97263.0458756048
Non
Resident
companies Non Resident Surcharge on
if income is companies if Coperative Society &
income is Firms in case of Non-
between
Rs.1 Crore greater than Residents(if income
Rs.10 Crore exceeds Rs. 1 crore)
and 10
Crore

Surcharge Surcharge Rate Surcharge Rate (%)


Rate (%) (%)
2 5 12

- - -

2 5 12

2 5 12

2 5 12
2 5 12

16.18.1.22.5.19.8√97263.0458756048
Non
Resident
companies Non Resident Surcharge on
if income is companies if Coperative Society &
income is Firms in case of Non-
between
Rs.1 Crore greater than Residents(if income
Rs.10 Crore exceeds Rs. 1 crore)
and 10
Crore

Surcharge Surcharge Rate Surcharge Rate (%)


Rate (%) (%)
2 5 12

16.18.1.22.5.19.8√97263.0458756048
Financial Year 2018-19 View_Caculate_Find_out_various_key_points_relati

Non residents other Non Residents


Company / If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold operative Society HUF
PAN Rs.50 lakh and Rs. 1 income exceeds
(Rs.) / Local Authority Crore) Rs.1 Crore)

IT Rate Surcharge Rate


Section - Description IT Rate (%) IT Rate (%) Surcharge Rate (%)
(%) (%)
192 - Salaries - NA Average rates 30 - -
as applicable

192A - Payment of accumulated 50000 - 10 30 - -


balance due to an employee.
(applicable from 01.06.2015)

193 - Interest on securities 10000 10 10 20 - -


194 - Dividends 2500 10 10 20 - -
194A - Interest other than interest on 10000 10 10 20 - -
securities - Others
For Senior citizen(01.04.18) 500000
194A - Banks 10000 10 10 20 - -
194B - Winning from Lotteries 10000 30 30 30 - 15
194BB - Winnings from Horse Race 10000 30 30 30 - 15
194 C - Payment to Contractors - - - - - -
Payment to Contractor 100000 2 1 20 - -
Contract - Transporter(44AE) who has - - - 20 - -
provided valid PAN

16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company / If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
(Rs.) / Local Authority Crore) Rs.1 Crore)

IT Rate Surcharge Rate


Section - Description IT Rate (%) IT Rate (%) Surcharge Rate (%)
(%) (%)
194IC - Payment under Specified - 10 10 20 - -
agreement
194D - Insurance Commission 15000 10 5 20 - -
194DA Payment in respect of life 100000 1 1 20 - -
insurance policy(applicable from
01.10.2014)
194E - Payment to Non-Resident - 20 20 20 10 15
Sportsmen or Sports Association
194EE - Payments out of deposits 2500 10% 10% 20 - 15
under NSS
194F - Repurchase Units by MFs 0 20 20 20 - 15
194G - Commission - Lottery 15000 5% 5% 20 - 15
194H - Commission / Brokerage 15000 5% 5% 20 - -
194I - Rent - Land and Building / 180000 10 10 20 - -
furniture / fittings
194I - Rent - Plant / Machinery / 180000 2 2 20 - -
equipment
194IA -Transfer of certain immovable 5000000 1 1 20 - -
property other than agriculture
land(w.e.f 1-6-2013)
194J - Professional Fees 30000 10 - Others 10 - Others 20 - -
Deductee Deductee

16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company / If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
(Rs.) / Local Authority Crore) Rs.1 Crore)

194J - Professional Fees 30000 IT Rate20 - Surcharge Rate (%) - Surcharge Rate
Section - Description IT Rate (%) IT Rate (%)
(%) (%)
2 - Where payee 2 - Where
engaged only in payee
the business of engaged only
operation of call in the
centre business of
operation of
call centre

194LA - Immovable Property 250000 10 10 20 - -


194LB - Income by way of interest - 5 5 20 10 15
from infrastructure debt fund (non-
resident)
194LBA - Certain income from units of - 10 10 20 - -
a business trust(applicable from
01.10.2014)
194LBA - Certain income from units of - 5 5 20 10 15
a business trust to non resident
(applicable from 01.10.2014)
Sec 194LBB - Income in respect of - 10% For 10% For 20/30/40 10 15
units of investment fund. Residents Residents

16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company / If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
(Rs.) / Local Authority Crore) Rs.1 Crore)

Sec 194LBB - Income in respect of - 20/30/40


IT Rate 10 15
Section - Description
units of investment fund. IT Rate (%) IT Rate (%) Surcharge Rate (%) Surcharge Rate
(%) (%)
10% For Non 10% For Non
Residents (1- Residents ( 1-
April-2016 to 31- April-2016 to
May-2016) 31-May-2016)

40% For Non 30 % For


Residents (1-Jun- NonResidents
2016 to 31-Mar- (1-Jun-2016
2017) to 31-Mar-
2017)

Sec 194LBC - Income in respect of - 30% For 30% For 25/30/40 10 15


investment in securitisation trust. Residents Residents
40% For Non 40% For Non
Residents Residents
25% for 25% for
Individual and Individual and
HUF HUF

16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company / If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
(Rs.) / Local Authority Crore) Rs.1 Crore)

IT Rate Surcharge Rate


Section - Description IT Rate (%) IT Rate (%) Surcharge Rate (%)
(%) (%)
Sec 194 LC - Income by way of interest - 5 5 20 10 15
by an Indian specified company to a
non-resident / foreign company on
foreign currency approved loan / long-
term infrastructure bonds from
outside India (applicable from July 1,
2012)

194LD - Interest on certain bonds and - 5 5 20 10 -


govt. Securities(from 01-06-2013)

195 - Other Sums - Average rates as - 30 - 15


applicable
196A-Foreign comp unit holder of MF - 10 20 20 10 15

196B - Income from units - 10 10 20 10 15


196C-Income from foreign currency - 10 10 20 10 15
bonds or GDR (including long-term
capital gains on transfer of such
bonds) (not being dividend)

196D - Income of FIIs from securities - 20 20 20 10 15

16.18.1.22.5.19.8√97263.0458756048
Home
t_various_key_points_relating_to_TDS

Non Resident Non Resident Surcharge on


companies if companies if Coperative Society &
income is income is Firms in case of Non-
between Rs.1
greater than Residents(if income
Crore and 10 Rs.10 Crore exceeds Rs. 1 crore)
Crore

Surcharge Rate Surcharge Rate Surcharge Rate (%)


(%) (%)
-

- -

- - -
- - -
- - -

- - -
2 5 12
2 5 12
- - -
- - -
- - -

16.18.1.22.5.19.8√97263.0458756048
Non Resident Non Resident Surcharge on
companies if companies if Coperative Society &
income is income is Firms in case of Non-
between Rs.1 greater than Residents(if income
Crore and 10 Rs.10 Crore exceeds Rs. 1 crore)
Crore

Surcharge Rate Surcharge Rate Surcharge Rate (%)


(%) (%)
- - -

- - -
- - -

2 5 12

2 5 12

2 5 12
2 5 12
- - -
- - -

- - -

- - -

- - -

16.18.1.22.5.19.8√97263.0458756048
Non Resident Non Resident Surcharge on
companies if companies if Coperative Society &
income is income is Firms in case of Non-
between Rs.1 greater than Residents(if income
Crore and 10 Rs.10 Crore exceeds Rs. 1 crore)
Crore

-Surcharge Rate - Surcharge Rate -


Surcharge Rate (%)
(%) (%)

- - -
2 5 12

- - -

2 5 12

2 5 12

16.18.1.22.5.19.8√97263.0458756048
Non Resident Non Resident Surcharge on
companies if companies if Coperative Society &
income is income is Firms in case of Non-
between Rs.1 greater than Residents(if income
Crore and 10 Rs.10 Crore exceeds Rs. 1 crore)
Crore

Surcharge Rate2 Surcharge Rate5 Surcharge Rate (%)12


(%) (%)

2 5 12

16.18.1.22.5.19.8√97263.0458756048
Non Resident Non Resident Surcharge on
companies if companies if Coperative Society &
income is income is Firms in case of Non-
between Rs.1 greater than Residents(if income
Crore and 10 Rs.10 Crore exceeds Rs. 1 crore)
Crore

Surcharge Rate Surcharge Rate Surcharge Rate (%)


(%) (%)
2 5 12

- - -

2 5 12

2 5 12

2 5 12
2 5 12

2 5 12

16.18.1.22.5.19.8√97263.0458756048
Financial Year 2019-20 View_Caculate_Find_out_various_key_points_relat

Non residents other Non Residents


Company / If No / than company (if other than
Firm / Co- Individual /
Nature of Payment Made To Residents Invalid income between company (if
Threshold operative Society HUF
PAN Rs.50 lakh and Rs. 1 income exceeds
(Rs.) / Local Authority Crore) Rs.1 Crore)

IT Rate Surcharge Rate


Section - Description IT Rate (%) IT Rate (%) Surcharge Rate (%)
(%) (%)
192A - Payment of accumulated 50000 - 10 30 - -
balance due to an employee.
(applicable from 01.06.2015)

193 - Interest on securities 10000 10 10 20 - -


194 - Dividends 2500 10 10 20 - -
194A - Interest other than interest on 5000 10 10 20 - -
securities - Others
194A -Banks / Co-operative society 40000 10 10 20 - -
engaged in business of banking / Post
Office
194A - Senior citizen 50000 - 10 20 - -
194B - Winning from Lotteries 10000 30 30 30 10 15
194BB - Winnings from Horse Race 10000 30 30 30 10 15
194 C - Payment to Contractors - - - - - -
Payment to Contractor 100000 2 1 20 - -
Contract - Transporter who has 100000 2 1 20 - -
provided valid PAN
194IC - Payment under Specified - 10 10 20 - -
agreement

16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company / If No / than company (if other than
Firm / Co- Individual /
Nature of Payment Made To Residents Invalid income between company (if
Threshold operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
(Rs.) / Local Authority Crore) Rs.1 Crore)

IT Rate Surcharge Rate


Section - Description IT Rate (%) IT Rate (%) Surcharge Rate (%)
(%) (%)
194D - Insurance Commission 15000 10 5 20 - -
194DA Payment in respect of life 100000 1 1 20 - -
insurance policy(applicable from
01.10.2014)
194E - Payment to Non-Resident - 20 20 20 10 15
Sportsmen or Sports Association
194EE - Payments out of deposits 2500 10 10 20 10 15
under NSS
194F - Repurchase Units by MFs - 20 20 20 10 15
194G - Commission - Lottery 15000 5 5 20 10 15
194H - Commission / Brokerage 15000 5 5 20 - -
194I - Rent - Land and Building / 240000 10 10 20 - -
furniture / fittings
194I - Rent - Plant / Machinery / 240000 2 2 20 - -
equipment
194IA -Transfer of certain immovable 5000000 1 1 20 - -
property other than agriculture
land(w.e.f 1-6-2013)
194J - Professional Fees 30000 10 - Others 10 - Others 20 - -
Deductee Deductee

16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company / If No / than company (if other than
Firm / Co- Individual /
Nature of Payment Made To Residents Invalid income between