Income Tax Projection Guide

Version 1.0
D I S C L A I M E R
This Excel sheet is not the tax calculator.
This is applicable to India Salary only
This is not a Form16 document. This document cannot be used for Income Tax Filing.
F E A T U R E S
IT projection report in Excel format is compatible with all the excel readers. Compact statement of
your IT projection i.e., the probable earnings and deductions components are depicted in different
color combinations to give you a clearer picture, Easy download of IT projection statement. The
report can be triggered to the employees mailbox.
P L E A S E R E A D T H E S E I N S T R U C T I O N S C A R E F U L L Y
This IT Projection Sheet has two parts, Part one represents Pay code wise Taxable
Earnings/Projected Earnings and Deductions.
Part two represents Projected Tax Liability for the Financial Year
All the titles are shown in Bold Black font with Green background in both the parts
P A R T - 1
The table is represented in pay code vs. month format where month starts from April to March
according to the financial year.
All Earning and deduction pay components are shown in Brown font
All the earned values till current month are in Blue Font
All the deducted values are in the Black Font
Total earnings is shown in Bold Blue font
Total Deductions is shown in Bold Black font
All the Projected earnings for the future months are in Green Font
All the Projected deductions for the future months are in Green Font
If earnings are not paid for a particular component in a month, will be shown in Blue colored
Dash/Hyphen(-)
Non projected Earning components are represented as Green dash/hyphen.(-)
For example, QPLC, Variable Pay etc
P A R T - 2
All the earnings details are represented in Blue font
Under gross earnings, gross salary displayed is exclusive of bus deductions
All the deduction details are represented in Black font
Total for earnings is represented in Bold Blue font and total deduction details are shown in Bold
Black font.
The Perquisites are displaying in earning part and also added to the Gross earnings
In tax computation part, Tax slabs are shown with respect to the selected financial year and
gender.
T A X R U L E S & O T H E R U S E F U L I N F O R M A T I O N
HRA exemption = minimum of (40% (50% for metros) of Basic+DA or HRA or rent paid - 10% of
Basic+DA)
Commutation Allowance is exempt up to Rs.800/- per month provided the person is in India during
the month. If employee has opted for Wipro bus then Commutation Allowance exemption is not
provided.
LTA is exempt to the tune of economy class airfare for the family to any destination in India, by the
shortest route.
LTA can be claimed twice in a block of 4 calendar years. The current block is from Jan 20010 to
Dec 2013
There is an exemption for interest on housing loan. If the loan was taken before Apr 1, 1999
exemption is limited to Rs.30,000/- per year. If the loan was taken after Apr 1, 1999 exemption is
limited to Rs.1,50,000/- per year if the house is self-occupied; there is no limit if the house is let
out for rent and exemption is given after reducing the income from house property. To claim this
exemption house construction should have completed and it should be occupied during the
Financial Year.
Income From other sources like, Interest earned from all sources is included is fully taxable.
Medical Insurance (such as Mediclaim) premium is exempt up to Rs.15,000/- per year for self,
spouse & dependent children. An additional Rs.15,000/- is exempt towards premium for parents
(even if they are not dependent). If the parent's) are above 65 years of age, an extra Rs.5,000/-
can be claimed
Deduction in respect of medical treatment of handicapped dependents is limited to Rs.50,000/-
per year if the disability is less than 80% and Rs.1,00,000/- per year if the disability is more than
80%
Deduction in respect of medical treatment for specified ailments or diseases for the assessed or
dependent can be claimed up to Rs.40,000/- per year. If the person being treated is a senior
citizen, the exemption can go up to Rs.60,000/-
Interest repayment on education loan (taken for any education from a university for self, spouse &
children) is tax exempt
For WASE and WIMS employees: Section 80GG exemption is available for WASE and WIMS
students. This will be calculated as minimum of (25% of total income or rent paid - 10% of total
income or Rs.24,000/- per year)
Investments up to 1 lac in PF, VPF, PPF, Insurance Premium, Housing loan principal repayment,
NSC, ELSS, long term bank Fixed Deposit, Post Office Term Deposit, etc. are deductible from the
taxable income under sec 80C. There is no limit on individual items, so all 1 lac can be invested in
NSC, for example. In addition to this Rs. 20000 is exempted for Investments in infrastructure
bonds.
NOTE: ALL THE EXEMPTIONS CAN BE CLAIMED ONLY IF YOU HAVE DECLARED THE SAME IN IT
DECLARATIONS. AND SUBMIT THE BILLS IN YEAR END WHEN IT IS ASKED TO SUBMIT.
click here to open your IT Projection sheet
2010 Wipro Limited. All Rights Reserved.
All the information in this file is private, privileged and confidential.
Users shall refrain from copying, distributing, misusing and / or disclosing the information to any
third parties under any circumstances whatsoever.
Wipro Limited, Doddakannelli, Sarjapur Raod, Bangalore - 560035. India Tel : +91-80-28440011
Employee No: Designation:
Emp Name : Career Band:
Location: Company Code:
Gender: PAN :

PAY CODE Vs MONTHS Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Total
ADDLALLW 0 0 0 0 0 0 0 0 0 0 0 0 0
BASIC 0 0 0 0 0 0 0 0 0 0 0 0 0
CONV 0 0 0 0 0 0 0 0 0 0 0 0 0
GRPALLW 0 0 0 0 0 0 0 0 0 0 0 0 0
HRA 0 0 0 0 0 0 0 0 0 0 0 0 0
OTHRALLW_ARR 0 0 0 0 0 0 0 0 0 0 0 0 0
QPLC 0 0 0 0 0 0 0 0 0 0 0 0 0
QPLC_ADV_ARR 0 0 0 0 0 0 0 0 0 0 0 0 0
PHONETAX 0 0 0 0 0 0 0 0 0 0 0 0 0
TOTAL EARNINGS - - 0 0 0 0 0 0 0 0 0 0 0 Wipro
0 0 0 0 0 0 0 0 0 0 0 0 Philips
PF 0 0 0 0 0 0 0 0 0 0 0 0 0
VPF 0 0 0 0 0 0 0 0 0 0 0 0 0
PT 0 0 0 0 0 0 0 0 0 0 0 0 0
IT 0 0 0 0 0 0 0 0 0 0 0 0 0
LIC 0 0 0 0 0 0 0 0 0 0 0 0 0
MEDCLM 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0
TOTAL DEDUCTIONS - - 0 0 0 0 0 0 0 0 0 0 0
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IT Projection (Gross Earnings / Projected earnings) For Financial Year 2011-2012
10/19/2014 WIPRO Confidential 1 of 7
Wipro Limited, Doddakannelli, Sarjapur Raod, Bangalore - 560035. India Tel : +91-80-28440011
1) Amount 8)
Rs. 2245000 Rs. 50000 Rs. 50000 Rs. 50000
Rs. 0 Rs. 46000 Rs. 46000 Rs. 46000
Rs. 0 Rs. 0 Rs. 0 Rs. 0
Rs. 0 Rs. Rs. Rs.
Rs. 0 Rs. 0 Rs. 0 Rs. 0
Rs. 0 Rs. 0 Rs. 0 Rs. 0
Rs. 0 Rs. 0 Rs. 0 Rs. 0
Rs. 0 Rs. 0 Rs. 0 Rs. 0
Rs. 0 Rs. 0 Rs. 0 Rs. 0
Rs. 0 Rs. 0 Rs. 0 Rs. 0
Rs. 0 Rs. 0 Rs. 0 Rs. 0
Rs. 0 Rs. 0 Rs. 0 Rs. 0
Rs. 0 Rs. 0 Rs. 0 Rs. 0
Rs. 0 Rs. 0 Rs. 0 Rs. 0
Rs. 0 Rs. 0 Rs. 0 Rs. 0
Rs. 2245000 Rs. 0 Rs. 0 Rs. 0
Rs. 0 Rs. 0 Rs. 96000
2) Amount
1) Rs. 143000 9)
Rs. 0 Rs. 0 Rs. 0
i) Rs. 143000
(40% for
non
metro Rs. 37000 Rs. 37000 Rs. 37000
ii) Rs. 148800 Rs. 0 Rs. 0 Rs. 0
iii) Rs. 172800 Rs. 0 Rs. 0 Rs. 0
2) Rs. 0 Rs. 0 Rs. 0 Rs. 0
3) Rs. 9600 Rs. 0 Rs. 0 Rs. 0
4) Rs. 0 Rs. 0 Rs. 0 Rs. 37000
Rs. 152600
10) Rs. 133000
3) Rs. 2092400
11) Rs. 1880140
4) Amount
Rs. 1600
Rs. 0 QUALIFYING AMOUNT Rs. 1880140
Rs. 1600 Slab No. Tax Rate
1) 0% Rs. 200000 Rs. 1680140 Rs. 0
5) Rs. 2090800 2) 10% Rs. 300000 Rs. 1380140 Rs. 30000
3) 20% Rs. 500000 Rs. 880140 Rs. 100000
6) Amount 4) 30% Rs. 880140 Rs. 0 Rs. 264042
Rs. 0 12.1) Rs. 394042
Rs. 0 12.2) Rs. 0
12.3) Rs. 11821.26
7) Rs. 2090800 12.4) Rs. 405863.26
13) Rs. 0
Projected Tax Liability For Financial Year 2011-2012
Gross Earnings Deductions Under Chapter Vl-(Sec 80c) Gross Amount Qualifying Amount Tax rebate/Relief
Gross salary
Perq. Co accom
Perq. Vehicle
Perq. F&E
Perq. Transfer of Asset (F&E)
Perq. Transfer of Asset (CAR)
Perq Int. Loan
Perq Long Service Award
Perq Others
Perq Vehicle Driver
Perq. ESOP
Perq. Medical
Perq. Pension Contribution
From Prev Employer
Total of Perqs
Total
Exemptions Under Section 10
Less HRA Relief U/S 10(13A)
Minimum of the following three
40% / 50 % of Applicable Basic
Annual rent paid - 10 % of Applicable Basic
HRA paid thru salary
Above includes prev.employer Basic and Hra
Less CONV Relief U/S 10
Less LTA Relief
Total
Balance (1) - (2)
Employment Tax
Tax on Employment
Tax on Employment at Prev Employer
Aggregate of 4
Income chargeable under head Salaries(3)-(4)
Other Income
Income From House Property
Income From Other Sources
Gross Total Income (5) + (6)
PF/VPF/FPF
LIC Pension
TATAAIG Pension
Inv. In Infrastructure Comp.
Insurance Premium
TATA Insurance Premium
Master Equity Plan
Mutual Fund
Interest on NSC
Housing Loan- Principal
Deposits In PPF
Subscription To ULIP
Investment on NSC
Education Expenses
Fixed Deposit in Nationalized
Note:The PF includes Prev.Employer PF
Aggregate Of Deductible Amount - 2


Deductions Under Chapter Vl-A Gross Amount Qualifying Amount Tax rebate/Relief
Sec.80D - Medical Insurance Premium
Sec.80E - Education Loan Repayment
Aggregate Of total Deductible Amount
Taxable Income
TAX COMPUTATION
TAX SLABS FOR THE YEAR 2011-2012
Sec.80DDB - Med. Treat. -Self /Dependant
Sec.80DDA - Physically Handicapped Deposits (Dependant)
Sec.80U - Physically Handicapped Self
Sec. 80GG - Deduction in Respect of Rent Paid
Aggregate Of Deductible Amount - 1
Tax Slabs Applicable Amount Balance Amount Tax Amount
1 - 200000
200001 - 500000
500001 - 1000000
1000001 - 999999999
Tax on Total Income
Surcharge on Tax
Educational Cess
Net Tax
Tax Deducted at Source
10/19/2014 WIPRO Confidential 2 of 7
Wipro Limited, Doddakannelli, Sarjapur Raod, Bangalore - 560035. India Tel : +91-80-28440011
14) Rs. 0
15) Rs. 405863.26
16) Rs. 0
17) Rs. 0 Balance Tax Payable
Tax Deducted at Prev.Employer
Tax Payable/Refundable
Tax Recovered During the Month
10/19/2014 WIPRO Confidential 3 of 7
Wipro Limited, Doddakannelli, Sarjapur Raod, Bangalore - 560035. India Tel : +91-80-28440011
Income HRA
709876 76752 23027
606435 62132 21855
1316311 138884 44882
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Wipro Limited, Doddakannelli, Sarjapur Raod, Bangalore - 560035. India Tel : +91-80-28440011
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Wipro Limited, Doddakannelli, Sarjapur Raod, Bangalore - 560035. India Tel : +91-80-28440011
61800
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