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    LTTSL - L&T Technology Services Income Tax Computation Sheet

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    dhruv
    This document is an income tax computation sheet for an employee named Dave Virat working as a Senior Engineer at L&T TECHNOLOGY SERVICES for the period of January 2019. It shows a breakdown of his earnings, exemptions, deductions, and total tax payable amount of Rs. 8,135 after applying standard deduction, chapter VI-A deductions for medical insurance and PF contributions. The tax payable is Rs. 2,623 after accounting for TDS of Rs. 5,512 that was deducted from his salary.

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    LTTSL - L&T Technology Services Income Tax Computation Sheet

    Uploaded by

    dhruv
    861 views3 pages
    This document is an income tax computation sheet for an employee named Dave Virat working as a Senior Engineer at L&T TECHNOLOGY SERVICES for the period of January 2019. It shows a breakdown of his earnings, exemptions, deductions, and total tax payable amount of Rs. 8,135 after applying standard deduction, chapter VI-A deductions for medical insurance and PF contributions. The tax payable is Rs. 2,623 after accounting for TDS of Rs. 5,512 that was deducted from his salary.

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    This document is an income tax computation sheet for an employee named Dave Virat working as a Senior Engineer at L&T TECHNOLOGY SERVICES for the period of January 2019. It shows a breakdown of his earnings, exemptions, deductions, and total tax payable amount of Rs. 8,135 after applying standard deduction, chapter VI-A deductions for medical insurance and PF contributions. The tax payable is Rs. 2,623 after accounting for TDS of Rs. 5,512 that was deducted from his salary.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    861 views3 pages

    LTTSL - L&T Technology Services Income Tax Computation Sheet

    Uploaded by

    dhruv
    This document is an income tax computation sheet for an employee named Dave Virat working as a Senior Engineer at L&T TECHNOLOGY SERVICES for the period of January 2019. It shows a breakdown of his earnings, exemptions, deductions, and total tax payable amount of Rs. 8,135 after applying standard deduction, chapter VI-A deductions for medical insurance and PF contributions. The tax payable is Rs. 2,623 after accounting for TDS of Rs. 5,512 that was deducted from his salary.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    LTTSL - L&T TECHNOLOGY SERVICES

    Income Tax Computation Sheet


    Financial Year April 2018 - March 2019 Assessment Year April 2019 - March 2020

    Psno. 40002529 For Period January, 2019

    Name DAVE VIRAT Designation Senior Engineer

    Sex Male Grade LTTS-4

    Date of Joining 24-Sep-2018 PAN Number BOFPD0171P

    Salary Break Up
    EARNINGS Actual Projected Total
    BASIC 105833.33 50000.00 155833.33
    HOUSE RENT ALLOWANCE 52916.67 25000.00 77916.67
    EDUCATION ALLOWANCE 846.67 400.00 1246.67
    CONVEYANCE ALLOWANCE 6773.00 3200.00 9973.00
    ADHOC ALLOWANCE 150626.23 71162.00 221788.23
    316995.90 149762.00 466757.90
    Perquisites
    OTHER BENEFITS OR AMENITIES

    PERKS MEDICAL 7792

    TOTAL VALUE OF PERQUISITES 7792.00

    Total(Earnings+Perquisites) 474549.90

    Exemption Calculation Details (Rs.) (Rs.) (Rs.)


    1 GROSS SALARY
    SALARY 466758
    PERQUISITES 7792
    PROFIT IN LIEU OF SALARY
    PREVIOUS EMPLOYER INCOME AFTER U/S 10 EXEMPTION
    TOTAL 474550
    2 HOSTEL EXPENDITURE ALLOW .EXEMP
    BOOKS & PERIODICALS BILL
    EDUCATION ALLOW.EXEMP
    HOUSE RENT ALLOW.
    Voluntary Retirement scheme
    GRATUITY EXEMPTION
    CONVEYANCE ALLOW.EXEMP
    LTA
    WASHING ALLOWANCE EXEMP
    LEAVE ENCASHMENT EXEMP
    OTHER EXEMPTION
    MONTHLY RENT PAID TO LANDLORD
    NO OF CHILDREN
    NUMBER OF CHILDREN STAYING IN HOSTEL (MAX 2 CHILD)
    TELEPHONE BILLS
    TOTAL

    3 BALANCE 474550
    4 DEDUCTIONS
    ENTERTAINMENT ALLOWANCE
    STANDARD DEDUCTION 40000
    4 STD DEDUCTION & TAX ON EMPLOYMENT 41200
    5 AGGREGATE OF 4 41200
    6 INCOME CHARGEABLE UNDER THE HEAD SALARIES 433350
    7 ADD ANY OTHER INCOME REPORTED BY THE EMPLOYEE
    HOUSING LOAN INTEREST 0
    BANK INTEREST 0
    OTHER INCOME 0 0
    8 GROSS TOTAL INCOME 433350
    GROSS QUALIFYING
    9 DEDUCTIONS UNDER CHAPTER VI-A
    A) SECTION 80C, 80CCC, 80CCD
    A) UNDER SECTION 80C
    LIFE INSURANCE
    ESS / MUTUAL FUND
    REPAY OF HSG LOAN(PRIN)
    NSC - INTEREST
    PPF
    TUTION FEES
    NSS DETAILS
    VPF - CONTRIBUTION
    BONDS
    FD BANK
    OTHER CONTRIBUTIONS FOR SEC 88
    PF - CONTRIBUTION 18700
    NSC DETAILS
    LIC/GRPINC 535
    SIP - ELSS
    US 80CCF-INFRA BOND
    SUKHANYA SAMRIDDHI
    TOTAL 19235
    B)UNDER SECTION 80CCC
    C)UNDER SECTION 80CCD
    NATIONAL PENSION SCHEME
    80CCD(1)
    80CCD(1B)
    MEDICAL INSURANCE
    B) OTHER SECTIONS UNDER CHAPTER VI-A 0 0
    US 80CCD(2) EMPLOYER NPS CONTRIBUTION
    US 80D MEDICAL INSURANCE 7647 7647
    US 80D MEDICAL INSURANCE FOR SR.CITIZEN
    US 80DD MAINT. OF HANIDICAP DEPENDENT (SEVERE
    DISABILITY, NON SEVERE)
    US 80DDB MEDICAL INSURANCE ON SPECIFIED DISEASE
    (SR.CITIZEN, OTHER)
    US 80G DONATION
    US 80E HIGHER EDUCATION (INTEREST ON LOAN ONLY)
    US 80U SELF HANDICAP (SEVERE DISABILITY, NON
    SEVERE)
    US 80EE HOUSING LOAN INTEREST
    10 AGGREGATE OF DEDUCTIBLE AMOUNT UNDER CHAPTER VI-A 26882
    11 TOTAL INCOME 406468
    250000 @ 0% 0
    100000 @ 5% 5000
    56468 @ 5% 2823.40
    12 TAX ON TOTAL INCOME 7823
    13 SURCHARGE
    13 EDUCATION CESS 313
    14 TAX PAYABLE (ROUNDED OFF) 8135
    TAX DEDUCTED AT SOURCE U/S 192(1)(TDS & PRV.EMPR IT) 5512
    TAX PAID BY EMPLOYER U/S192(1A)ON PERQ U/S17
    15 TAX PAYABLE/REFUNDABLE (17-16) 2623
    16 PROPOSED MONTHLY (TDS) 1312

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