Income Tax Calculation Worksheet

THERMAX LTD Ascent Payroll

PAN : AAACT3910D/ TAN : PNET00017D F.Y. : 2019-20 / A.Y. : 2020-21
Employee: T6865 Anurag Pandey Calculation Month: February-2020
Date of Joining: 11/05/2015 PAN: CLQPP8341G Tax Category: MEN
1. Gross Salary Actual(Rs.) Projection(Rs.) Total(Rs.)
Basic 169,235 16,253 185,488
House Rent Allowance 38,885 3,535 42,420
Lunch Allowance 4,000 0 4,000
Conveyance 6,400 0 6,400
Special Allowance 11,214 1,602 12,816
Arrears Basic 4,536 0 4,536
Arrears Lunch -4,000 0 -4,000
Arrears Conveyance -6,400 0 -6,400
Arrears Special 6,408 0 6,408
Bonus 26,698 0 26,698
Adj- Special Allowance 136 0 136
Totals: 257,112 21,390 278,502

WORKSHEET :
1. Gross Salary 278,502
2. Less: Allowances Exempt Under Section 10

3. Balance (1-2) 278,502

4. Deductions:
Standard Deduction 50,000
5. Aggregate of 4 50,000
6. Income chargeable under the head 'Salaries' (3-5) 228,502
7. Add: Any other income reported by the employee

8. Gross total income (6+7) 228,502

9. Deductions under Chapter VI-A Qualifying Deductible
Gross Amount
(A) Section 80C, 80CCC and 80CCD Amount Amount
(a) Section 80 C
a. Provident Fund 22,937 22,937
Total of Section 80C, 80CCC and 80CCD 22,937 22,937 22,937
(B) Other Sections under Chapter VI-A
a. Sec 80D (Mediclaim Family) 1,200 1,200
Total of Other Sections under Chapter VI-A 1,200 1,200 1200
10. Aggregate of deductible amount under Chapter VIA 24,137
11. Total Income (8-10) 204,370
12. Tax on total income 0
13. Less: rebate u/s 87A 0
*
14. Tax payable and surcharge thereon 0 + 0 0
15. Add: Education CESS 4.00% on (14) 0
16. Less: Rebate Under Section 89 0
17. Total Tax Liability (14+15-16) 0
18. Less Tax deducted at source till January-2020 0
19. Tax payable/refundable (17-18) 0
20. Tax payable/refundable this month 0

Printed On 03/03/2020 12:39:44 PM Calculation based on Actual Declaration (Standard) Page 1 of 1