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    Salary Slip: Submitted As Part of Assignment For Corporate Tax Planning Student Name: Vaibhav Gunjal Roll No: P81117

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    D'quor
    1. The document is a salary slip for an employee named Vaibhav Gunjal with a cost to company of Rs. 780000. 2. The gross taxable salary is Rs. 488166.72 after accounting for non-taxable allowances such as house rent and medical reimbursements. 3. Based on the tax slabs, the tax amount is Rs. 28816.672, resulting in a net monthly salary of Rs. 34890.7773333333.

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    Salary Slip: Submitted As Part of Assignment For Corporate Tax Planning Student Name: Vaibhav Gunjal Roll No: P81117

    Uploaded by

    D'quor
    202 views5 pages
    1. The document is a salary slip for an employee named Vaibhav Gunjal with a cost to company of Rs. 780000. 2. The gross taxable salary is Rs. 488166.72 after accounting for non-taxable allowances such as house rent and medical reimbursements. 3. Based on the tax slabs, the tax amount is Rs. 28816.672, resulting in a net monthly salary of Rs. 34890.7773333333.

    Original Description:

    Template for calculating Hmm tc

    Original Title

    CTC Calculation

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    1. The document is a salary slip for an employee named Vaibhav Gunjal with a cost to company of Rs. 780000. 2. The gross taxable salary is Rs. 488166.72 after accounting for non-taxable allowances such as house rent and medical reimbursements. 3. Based on the tax slabs, the tax amount is Rs. 28816.672, resulting in a net monthly salary of Rs. 34890.7773333333.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    202 views5 pages

    Salary Slip: Submitted As Part of Assignment For Corporate Tax Planning Student Name: Vaibhav Gunjal Roll No: P81117

    Uploaded by

    D'quor
    1. The document is a salary slip for an employee named Vaibhav Gunjal with a cost to company of Rs. 780000. 2. The gross taxable salary is Rs. 488166.72 after accounting for non-taxable allowances such as house rent and medical reimbursements. 3. Based on the tax slabs, the tax amount is Rs. 28816.672, resulting in a net monthly salary of Rs. 34890.7773333333.

    Copyright:

    © All Rights Reserved
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    SALARY SLIP

    Submitted as part of Assignment for Corporate Tax planning


    Student Name: Vaibhav Gunjal
    Roll No: P81117
    Cost to Company : 780000

    Taxable
    Sl no Component of salary Amount amount
    Gross Salary Component
    1 Basic Salary(40% of CTC) 318006 318006
    2 Dearness allowance(12% of BS) 38160.72 38160.72
    House Rent allowance(50% of BS for
    3 metro city and 40% of BS for non- 159003 0
    metro)
    4 Conveyance Allowance 12000 2400
    5 Overtime Allowance 12000 12000

    6 Medical Reimbursements 20000 0

    8 LTA/LTC 54000 0
    Benefits
    9 Telephone Allowance 7200 7200
    Reimbursements(medical bills,phone
    10 bills,magazine subscriptions,book 2400 2400
    purchase)
    11 Laptop 28000 28000
    Subsidized meals(Rs.14 per working
    12 3000 0
    day)
    Life insurance/Health Insurance( 1 Lkh
    13 8000 0
    coverage)
    14 Incentives 30000 30000
    15 Bonus 50000 50000
    Total
    16 Total Benefits 128600
    17 Gross Salary 613169.72
    18 Cost to Company 779930.44
    Gross Taxable Salary(CTC-non taxable
    19 488166.72
    income)
    21 Tax 28816.672
    7 Contribution to PF(12% on BS) 38160.72
    Professional Tax 2500
    Total Deductions 69477.392
    22 Net Salary(Gross Taxable Salary-Tax) 418689.328
    24 Net Monthly Salary(net salary/12) 34890.7773333333
    P

    Remarks

    ent
    Fully taxable

    Depends on company policy

    Applicable if living in rented house

    9600 p.a is exempted 18000-9600=8400

    Fully taxable

    If substantiated with bills, are exempt to a


    limit of Rs 15,000 annually

    Non taxable

    Fully taxable

    Fully taxable

    Fully taxable

    Non taxable

    Non taxable

    Fully taxable

    Fully taxable
    Tax Calculation for 488166.72
    Slab % tax Amount
    0-200000 nill 0 288166.72
    200000-500000 10% 28816.672
    500000-1000000 20% 0
    above 1000000 30% 0
    28816.672

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