TAX COMPUTATION YEAR 2014-2015

MONTHS Test
SALARY TAX DED.
JULY,13
AUG,13
SEP,13
OCT,13
NOV,13 90,000 -
DEC,13 90,000 -
JAN,14 90,000 2,691
FEB,14 90,000 2,691
MAR,14 90,000 2,691
APR,14 90,000 2,691
MAY,14 90,000 2,691
JUN,14 90,000
ARREARS / Refund from Dept

SALARY Inclusive All 720,000 13,455 -

13,455
GROSS SALARY 720,000
60,000

COMPUTATION OF TAX

Salary 720,000
Conveyance
Other Allowance -
Eid Reward -
Bonus -
Arrears / Leaves Encashment 2,959
Deemed income from PF excees of
Rs.100000/- -
Interest on Loan -

Taxable Salary 1,224,060 102,005

400,000
824,060
Income Tax 64,906
Tax on Tax 64
Tax Lability as normal Taxation 64,970
Relief Tax Liability - Annual
Tax Liability - Annual 64,970
IDPT on Bonus 30%
Net Tax Liability - Annual (Final) 64,970
Tax Deducted to Date 13,455
Balance to be Deducted 51,515 51,515
tax Born by employer 13,561
tax Born by employee 51,515
WORKING OF TAX ON TAX
Muhammad Aslam
TAXABLE SALARY TOTAL 15% RELIEF LOWER EMPLOYEE Inc. In TAX BURDEN BRONE BY TAX ON TAX TAX ON TAX
TAX FS TAX TAX CONT Emp. Cont. EMPLOYER ZERO STAGE 2ND STAGE

1,224,060 64,906 64,332 574

1,224,634 64,963 - 64,332 631 57 57
1,224,691 64,969 - 64,332 637 6 6
1,224,697 64,970 - 64,332 638 1
1,224,698 64,970 - 64,332 638 0
1,224,698 64,970 - 64,332 638 0
1,224,698 64,970 - 64,332 638 0
1,224,698 64,970 - Err:504 Err:504 64,332 638 0

64 27,016 64 63
Detail of Bonus & leave Encashment
1ST JULY,2012 TO 30TH JUNE,2013
L.W.P & OFF
DAY
SR. NO. NAME OF EMPLOYEES ANNUAL BONUS BONUS 1 BONUS 2 LEAVE ENCASH LEAVE ENCASH WORKING TOTAL TOTAL G.TOTAL
EID UL FITRE EID UL AZHA 35 days ARREARS BONUS L.ENCASH

1 Muhammad Aslam 67,581 32,696 35,979 83,951 1,941 136,256 85,892 222,148

TOTAL 67,581 32,696 35,979 83,951 - 1,941 136,256 85,892 222,148

DETAIL OF ARREARS OFF DAY WORKING & L.W.O.P YEAR 2010-2011

MONTHS Muhammad Aslam

ARREARS L.W.O.P
JULY,12
AUG,12
SEP,12
OCT,12 591
NOV,12
DEC,12
JAN,13 3,132
FEB,13
MAR,13
APR,13
MAY,13 600
JUN,13

TOTAL 3,132 1,191

NET ARREARS 1,941
DETAIL OF OTHER ALLOWANCE FROM 1ST JULY,2013 TO 30TH JUNE,2014.

SR. NO. NAME OF EMPLOYEES JULY,12 AUG,12 SEP,12 OCT,12 NOV,12 DEC,12 JAN,13 FEB,13 MAR,13 APR,13 MAY,13 JUN,13 TOTAL

1 Muhammad Aslam 1,500 1,500 1,500 1,500 1,500 1,500 435 - - - - - 9,435

Total 1,500 1,500 1,500 1,500 1,500 1,500 435 - - - - - 9,435

CALCULATION OF INTREST ON BALANCE LOAN
FOR THE PERIOD ENDED 30TH JUNE 2013

SR. NO. NAME OF EMPLOYEES LOAN/INTREST JULY,12 AUG,12 SEP,12 OCT,12 NOV,12 DEC,12 JAN,13 FEB,13 MAR,13 APR,13 MAY,13 JUN,13 INCL.IN INCOME

LOAN BALANCE
INTREST @ 10%
LOAN BALANCE
INTREST @ 10% - - - - - - - - - - - - -
LOAN BALANCE - - - - - - - -
INTREST @ 10% - - - - - - - - - - - - -
LOAN BALANCE
INTREST @ 9% - - - - - - - - - - - - -

161700