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1. The document is an income tax calculation for Sri. S. Mahesh Kumar, a Proh&Excise Inspector in Kurnool, for the financial year 2016-2017. 2. It calculates his total income from salary and other sources, deductions under sections 80C, 80D, 80E, etc., taxable income, tax payable, and education cess. 3. His taxable income is Rs. 360,174 after deductions. Tax payable is Rs. 11,017 and with education cess amounts to Rs. 6,197, which is the net tax to be paid.

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Mahesh Kumar
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323 views4 pages

IT

1. The document is an income tax calculation for Sri. S. Mahesh Kumar, a Proh&Excise Inspector in Kurnool, for the financial year 2016-2017. 2. It calculates his total income from salary and other sources, deductions under sections 80C, 80D, 80E, etc., taxable income, tax payable, and education cess. 3. His taxable income is Rs. 360,174 after deductions. Tax payable is Rs. 11,017 and with education cess amounts to Rs. 6,197, which is the net tax to be paid.

Uploaded by

Mahesh Kumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Financial year 2016-17 ANNEXURE - II

INCOME TAX CALCULATION 2016-2017


Name Sri. S.Mahesh Kumar Office: O/OP&ES, Kurnool , Kurnool (Mandal)
Designation Proh&Excise Inspector Address: Madhavaram C.P,Madhavaram ,Mantral
1 Whether living in --------- Rented House PAN No : Treasury Id. No.
2 Gross Salary Rs.
3 H.R.A. Exemption as per eligibility U/s. 10(13-A)
a) Actual HRA received Rs.
b) Actual House Rent paid by you minus 10% of your Salary Rent @ 740 Rs.
c) 40% of Salary (Salary means Basic Pay+D.A) Rs.
4 Total Salary (2-3) Rs.
5 Deductions from Salary Income
a) Exemption from Conveyance Allowance U/s. 10(14) (i) Rs.
b) Profession Tax U/s 16 (3) B Rs.
6 Income From Salary (4-5) Rs.
7 Add: Income From other sources Rs.
8 Add: Income From Capital Gains Rs.
9 Income or Loss from House Property U/s 24(vi) Rs.

Gross Total Income (6+7+8+9+10)


11 Deductions
a) 80G E.W.F. & S.W.F & CMRF Rs.
b) 80E Interest of Educational Loan Rs.
c) 80DD Medical treatment of dependent above 80% Rs.
d) 80E Interest of Housing Loan Rs.
e) 80U Disabled Person(PH)-above 80%disability( Rule 11A) Rs.
f) 80d Employees Health Cards Premium in AP Rs.

TOTAL----------- Rs.
12 Gross Total Income (10-11) Rs.
13 Savings U/s 80C ( Limited to Rs.1,50,000 )
a) PF No. : Rs.
b) APGLI A/C No: Rs.
c) GIS Rs.
d) LIC Policies Monthly Premium in Salary Rs.
e) Tuition Fee for Two children Rs.
f) Repayment of Home Loan installments Rs.
g) LIC Policies premium - Yearly Rs.
h) Sukanya Samruddhi Yojana Rs.
j) Rs.
Total Savings Rs.
Rs.
80CCF Rajiv Gandhi Equity Saving Scheem

14 Net Taxable Income (12-13)


15 Tax on Income Tax Rs. 110174
a) Upto-2,50,000 Rs.
b) 2,50,001/- to 5,00,000/- 10% ( 110174 @ 10% ) Rs.
c) 5,00,001/- to 10,00,000/- 20% Rs.
d) above Rs.10,00,001 - 30% Rs.
16 Tax Rebate ( U/s 87 A) ( Rs. 5000/-upto Rs.5,00,000 Taxble Income ) Rs.
17 Total Tax Payable (15-16)
18 Education Cess 2% (On Tax at S.No.11 ) Rs.
19 Secondary & Higher Education Cess 2% (On Tax at S.No.11 ) Rs.
19 Total (18+19+20) Rs.
20 Details of Adv.Tax Deductions Advance Tax paid
a) Mar-16 to May-16 Rs.
Net Tax to be
b) Jun-16 to Aug-16 Rs.
Paid
c) Sep-16 to Nov-16 Rs.
d) Dec-16 Rs.
e) Jan-17 Rs.
f) Feb-17 Rs.
Signature of the Drawing Officer Signature of the Empl
ssessment year 2017-18

urnool (Mandal)
avaram ,Mantralayam ( Mandal
sury Id. No.
547,545

43,424
44,350
177,812 43,424
504,121

1,680
2,000 3,680
500,441

-
-

500,441

20

5,600

5,620 5,620
494,821

42,291
14,000
600

49,000

28,756

134,647 134,647
-
-

360,174
0174
Nil
11,017
-
0
5,000
6,017
120
60
6,197
e Tax paid -

Tax to be
6,197
Paid
of the Employee

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