Scribd Logo
Upload

Welcome to Scribd!

  • Income Tax Calculation Memo

    Uploaded by

    ajeetpoly
    3K views3 pages
    This document is a memo calculating income tax for the 2008-2009 financial year. It outlines various sources of income including basic salary, DA, house rent allowance, and other sources of income. It then calculates the gross salary and deducts exemptions like HRA and amounts invested under various tax saving schemes. It further deducts amounts invested under section 80C and calculates the total taxable income. It then calculates the tax payable based on income slabs and adds surcharge. It also mentions the TDS deducted to date and additional TDS to be deducted from the February 2009 salary. The document is certified by the individual to be accurate as per income tax rules.

    Original Description:

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This document is a memo calculating income tax for the 2008-2009 financial year. It outlines various sources of income including basic salary, DA, house rent allowance, and other sources of income. It then calculates the gross salary and deducts exemptions like HRA and amounts invested under various tax saving schemes. It further deducts amounts invested under section 80C and calculates the total taxable income. It then calculates the tax payable based on income slabs and adds surcharge. It also mentions the TDS deducted to date and additional TDS to be deducted from the February 2009 salary. The document is certified by the individual to be accurate as per income tax rules.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    3K views3 pages

    Income Tax Calculation Memo

    Uploaded by

    ajeetpoly
    This document is a memo calculating income tax for the 2008-2009 financial year. It outlines various sources of income including basic salary, DA, house rent allowance, and other sources of income. It then calculates the gross salary and deducts exemptions like HRA and amounts invested under various tax saving schemes. It further deducts amounts invested under section 80C and calculates the total taxable income. It then calculates the tax payable based on income slabs and adds surcharge. It also mentions the TDS deducted to date and additional TDS to be deducted from the February 2009 salary. The document is certified by the individual to be accurate as per income tax rules.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 3

    INCOME TAX CALCULATION MEMO

    Pan No. ………………….


    Submitted by Smt. / Km. / Sh. ………………… Designation …

    For the financial Year 2008- 2009 ( Assessment Year 2009-2010 )

    1. Basic Salary : Rs
    2. DA : Rs.
    3. DP : Rs
    4. C.C.A. : Rs
    5. House Rent Allowance Recd. : Rs
    6.. Income From Other Sources (a) : Rs
    (b) :Rs.
    (c) :Rs.

    7. Gross Salary ( 1+2+3+4+5+6 ) :Rs.


    8. Less Part of HRA portion exempt U/S 10 (13 A )
    (a) Actual HRA Recd. Rs.
    (b) Rent paid in excess to 10% of salary Rs.
    Minimum of both :Rs.

    9. Less Amount Invested in Schemes


    (a) U/S 80 G :Rs.
    (b) U/S 80 CCS such as Jeevan Suraksha :Rs.
    (c) Rebate claim under 80 DD + 80 DDB :Rs.
    (d) Interest on House build. Loan ( U/S-24) :Rs.
    Total : Rs.

    10. Less Amount Under Section 80 C


    (a) GPF :Rs.
    (b) GIS :Rs.
    (c) Premium on LIC Policies :Rs.
    (d) Provident Fund :Rs.
    (e) Repayment of House Building Loan :Rs.
    (f) Tution Fees :Rs.
    (g) :Rs.
    (h) :Rs.
    (i) :Rs.
    Total Rs.

    11. Total Taxable Income (7 – 8 - 9 -10 ) Rounded to 10 Rs.


    12. Tax on Total Income
    (a) Upto Rs. 1,50,000=00 Nil
    (b) From 1,50,001 To 3,00,000 @ 10% :Rs.
    (c) From 3,00,001 To 5,00,000 @ 20% :Rs.
    (d) From 5,00,001 To 10,00,000 @ 30 % :Rs.
    Total Rs.

    13. Surcharges @3% :Rs.

    14. Net Income Tax Payable ( 12 + 13 ) :Rs.

    15. Tax Deducted at source at till date :Rs.

    16. Tax to be Deducted out of salary of Feb 2009 :Rs.

    Certified that aforesaid Income Tax Calculation are as per the Revised Income Tax Rules and all
    the facts are true to my knowledge . If there will impose additional Tax/ Surcharges/ Interest after checking
    by Income Tax Department. I will be fully responsible for the payment.

    Date : ( Sig.)
    (Name )
    This document was created with Win2PDF available at http://www.win2pdf.com.
    The unregistered version of Win2PDF is for evaluation or non-commercial use only.
    This page will not be added after purchasing Win2PDF.

    You might also like