Calculation of Income Tax for the Year 2019-2020

1 NAME B Sailoo
2 Designation Kamatee
3 Salary / Pay 485380
4 Dearness Allowances 173460
5 House Rent Allowance 145614
6 City Compensatory Allowances 12500
7 Telangana Increment 5040
8 Others 2400
9 Others1 120
TOTAL 824514
10 House Rent Paid 216000
11 GPF/CPS 84611
12 GIS 180
13 Profession Tax 2400
14 APGLI 0
15 LIC 0
16 APWF 120
17 CM RELIEF FUND 0
18 Others/ Medical Reimbursement 0
Computation of total Income and Tax - Payable there on Assessment year 2020-2021
Salary+DA+CCA & Others 678900
House Rent Allowances 145614
TOTAL Rs. 824514
Less: HRA exempted under Rule -2 Section 10-(13A)
(1) 40% Salary including DA 265552
(2) Actual HRA received 145614 145614
(3) Expenditure on Rent excess 10% salary including DA as presumed 149612
216000 65884 150116
CHARGEBLE TOTAL INCOME Rs. 678900
Less: U/S 16 C - Profession Tax/FD/EWF 2520 676380
Standard Dedication U/S 16 50000 626380
LESS DEDUCTION UNDER CHAPTER VI (A)
a)Contribution up to 100000/-LIC PENSION SCHEME U/S 80 C 0
b) Medical insurance premium U/S 80-D max Rs. 10000/- Rs. 15000/- if family member is a Sr. Citizen0
c) Expenditure max Rs. 50000/- u/s 80 dd todpendent relative suffering from 0
d) Expenditure max Rs. 40000/- incase of SSC Pys handicap/ Totally blind 0
e) Medical expenditure upto 40000/- under sec 80 DDB if the parents age 0
f) Interst paid on capital borrowed fro Purchase / Construction 0
g) Deduction U/S 80 G donation to PM national relief fund and CM's earth quake relief fund 100% 0
Total (a+b+c+d+e+f+g) 0
NET TAXABLE INCOME Rs. 626380
GPF/CPS 84611
GIS 180
LIC 0
LIC 0
Housing Loan Principle Amount 0
i Tution Fees for Children 0
ii ICICI bonds and other debentures Max Rs. 30000/- 0
iii (Others) F.D. bond U/S 80 C 0
iv Total Savings not exceed Rs. 1,50,000 (as per Section 80 C) restricted upto 84791 84791
TOTAL TAXABLE INCOME Rs. 541589
a) Charge -able income below Rs. 2,50,000/-: Tax rebate - NIL 0
b) 2,50,000/- to Rs. 5,00,000/-: Rate of Rebate - 5% 12500
c) Rs. 5,00,001/- to Rs. 10,00,000/-: Rate of Rebate- 20% 8318
d) Exceeds Rs. 10,00,001/-: Rate of Rebate 30% 0
20818
Rebate u/s 87A Rs. 12500/- [if taxable income does not exceed 5 Lakhs] 0
Health & Education Cess 4% 833
Total Tax Payable 21651
Tax already Paid 0
Balance of IT to be deducted including surcharge 0

Sign. of the Employee Sign. of drawing officer