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    Developed By-Office Automation Division, IIT Kanpur Page No.1

    Uploaded by

    Kishan Omar
    This document contains a tentative calculation of income tax to be deducted at source from the salary of an employee of Indian Institute of Technology Kanpur for the financial year 2022-23. It details the employee's gross salary, deductions, taxable income, tax calculations, and the balance tax payable from January to February 2023. The gross salary includes pay, allowances, other income sources, LTC perquisites, arrears, and employer NPS contributions totaling over Rs. 20 lakh. Standard deductions, HBA interest, house rent exempted, additional NPS contributions, tuition fee rebate and other rebates reduce the gross total income to Rs. 16.44 lakh. Tax of over Rs

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    Developed By-Office Automation Division, IIT Kanpur Page No.1

    Uploaded by

    Kishan Omar
    43 views2 pages
    This document contains a tentative calculation of income tax to be deducted at source from the salary of an employee of Indian Institute of Technology Kanpur for the financial year 2022-23. It details the employee's gross salary, deductions, taxable income, tax calculations, and the balance tax payable from January to February 2023. The gross salary includes pay, allowances, other income sources, LTC perquisites, arrears, and employer NPS contributions totaling over Rs. 20 lakh. Standard deductions, HBA interest, house rent exempted, additional NPS contributions, tuition fee rebate and other rebates reduce the gross total income to Rs. 16.44 lakh. Tax of over Rs

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    This document contains a tentative calculation of income tax to be deducted at source from the salary of an employee of Indian Institute of Technology Kanpur for the financial year 2022-23. It details the employee's gross salary, deductions, taxable income, tax calculations, and the balance tax payable from January to February 2023. The gross salary includes pay, allowances, other income sources, LTC perquisites, arrears, and employer NPS contributions totaling over Rs. 20 lakh. Standard deductions, HBA interest, house rent exempted, additional NPS contributions, tuition fee rebate and other rebates reduce the gross total income to Rs. 16.44 lakh. Tax of over Rs

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    43 views2 pages

    Developed By-Office Automation Division, IIT Kanpur Page No.1

    Uploaded by

    Kishan Omar
    This document contains a tentative calculation of income tax to be deducted at source from the salary of an employee of Indian Institute of Technology Kanpur for the financial year 2022-23. It details the employee's gross salary, deductions, taxable income, tax calculations, and the balance tax payable from January to February 2023. The gross salary includes pay, allowances, other income sources, LTC perquisites, arrears, and employer NPS contributions totaling over Rs. 20 lakh. Standard deductions, HBA interest, house rent exempted, additional NPS contributions, tuition fee rebate and other rebates reduce the gross total income to Rs. 16.44 lakh. Tax of over Rs

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    INDIAN INSTITUTE OF TECHNOLOGY KANPUR

    Tentative Calculation for deduction of Income Tax


    at source during the financial year 01-APR-2022 to 31-MAR-2023
    (Assesment Year APR-2023 to MAR-2024)-OLD TAX REGIME(OPTION-1)

    Name & Address Of Employer Name & Designation Of Employee


    Indian Institute Of Technology Kanpur-208016 05101 SUJAY KUMAR GUPTA
    PAN : AAAJI0169A DEPUTY REGISTRAR ACS
    PAN : AHWPG2564J
    DETAILS OF SALARY /SAVING /DEDUCTION :-

    (1) Gross Salary Rs Rs. Rs.


    (a) Pay & Allowances, Hon. , etc 2018041
    Actual Salary From MAR-2022 to DEC-2022 :1253464
    Basic :851000
    D.A. :297164
    HRA :0
    TRA :97128
    NPA :0
    D.A. Arrear :7524
    HRA Arrear :0
    TRA Arrear :648
    NPA Arrear :0
    Supplementary:0
    Other Income(Proj A/C,JEE,GATE/CCE/Med.Reimb.):226841
    INSTITUTE -HONORARIUM :106600
    LEAVE ENCASHMENT :37341
    MEDICAL REIMBURSEMENT :9551
    NEWSPAPER REIMBURSEMENT :3000
    PERFORMANCE INCENTIVE :15000
    TELEPHONE REIMBURSEMENT :1349
    TUTION FEE REIM. :54000
    Estimated Salary From JAN-2023 to FEB-2023 :257508
    LTC Perquisite under section 17(2) :72525
    RFA(Rent Free Accomodation) Perquisite :0
    Arrear other than salary for DA/TR.A :11196
    Employer NPS Contribution (Sec 80CCD-2) :196507
    Less:Recoveries by Institute :0
    Less : Higher Education Int. Paid :0
    (2) Less : Standard Deduction 50000
    (3) Less : HBA Interest/House Rent Exempted/Additional NPS 50000
    HBA Interest Max. 2.0 Lakh Only(24B) :0
    House Rent Exempted :0
    Additional NPS(80CCD(1-B)) :50000
    (4) Less--100% Rebate(Tution Fee 273432
    Rebate,Mediclaim,Donation,Handicapped,NPS,Other Relief)
    Tution Fee Rebate :2400

    Developed By- Office Automation Division, IIT Kanpur


    Page No.1
    Medical Insu./Expens. :0
    Donation(80G) :0
    Handicapped (80U) :0
    Employer NPS Contribution (Sec 80CCD-2) :196507
    PM Cares/Contr Work Welf/Opp School :2000
    LTC Rebate u/s 10(5) :72525

    Total Rebates 273432


    Gross Total Income (1-2-3-4) 1644609
    (5) Rebate on Savings(From Salary)
    Under Section 80C
    a[1] GROUP INSU. 5400
    a[2] GTI_SBI 11970
    a[3] NPS_REC 1783
    a[4] N_PENSION 138579
    b[1] Other Eligible Savings (Other than Salary) 84696
    c[1] Infra Structure Rebate (Max. Rs. 20000) 0
    Total Savings 242428
    (6) Taxable Income 1490260
    (7) Tax Computation
    a[1]Upto Rs. 250000 0% - 0
    a[2]Rs.250001and Upto Rs.500000 5% - 12500
    a[3]Rs.500001and Upto Rs.1000000 20% - 100000
    a[4]Equal or Above Rs.1000001 30% - 147078
    Less Tax Rebate under Section 87A(If Taxable Income is <= 0
    5 Lacs,Max Rebate will be 12500)
    (8) Total of Income Tax 259578
    (9) Tax payable 259578
    (10) H.E.C.+ Surcharge of Tax Payable [ In Case of Taxable Income Exceeds ]
    a[1]Upto Rs. 5000000 4.0% 10383
    Total Surcharge of Tax Payable 10383
    (11) Less : Tax Paid DEC-2022 215107
    (12) Balance Tax payable from JAN-2023 to FEB-2023 (9+10-11) 54854

    * Final Calculation Of Income Tax Will Be 31-MAR-2023. Kindly Check Tentative Income-Tax Statement.In Case Of Any Discrapancy,
    Please Inform Account Section.

    Developed By- Office Automation Division, IIT Kanpur


    Page No.2

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