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    Akshay Comp. 21-22

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    avishkar gupta
    1. Akshay Kumar Gupta, a resident individual, filed his income tax return for AY 2021-2022 declaring total income of Rs. 489,240. 2. His income included a salary of Rs. 111,422 and income from profession of Rs. 572,431 computed under section 44ADA. 3. He claimed deductions of Rs. 150,000 under section 80C and Rs. 44,615 under section 80GG and paid no tax after TDS credit of Rs. 89,215.

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    Akshay Comp. 21-22

    Uploaded by

    avishkar gupta
    89 views3 pages
    1. Akshay Kumar Gupta, a resident individual, filed his income tax return for AY 2021-2022 declaring total income of Rs. 489,240. 2. His income included a salary of Rs. 111,422 and income from profession of Rs. 572,431 computed under section 44ADA. 3. He claimed deductions of Rs. 150,000 under section 80C and Rs. 44,615 under section 80GG and paid no tax after TDS credit of Rs. 89,215.

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    1. Akshay Kumar Gupta, a resident individual, filed his income tax return for AY 2021-2022 declaring total income of Rs. 489,240. 2. His income included a salary of Rs. 111,422 and income from profession of Rs. 572,431 computed under section 44ADA. 3. He claimed deductions of Rs. 150,000 under section 80C and Rs. 44,615 under section 80GG and paid no tax after TDS credit of Rs. 89,215.

    Copyright:

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

    Akshay Comp. 21-22

    Uploaded by

    avishkar gupta
    1. Akshay Kumar Gupta, a resident individual, filed his income tax return for AY 2021-2022 declaring total income of Rs. 489,240. 2. His income included a salary of Rs. 111,422 and income from profession of Rs. 572,431 computed under section 44ADA. 3. He claimed deductions of Rs. 150,000 under section 80C and Rs. 44,615 under section 80GG and paid no tax after TDS credit of Rs. 89,215.

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    © All Rights Reserved
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    of 3

    Name of Assessee AKSHAY KUMAR GUPTA

    Father's Name RAJ KAPOOR GUPTA


    Address .,HAZARI LAL KA FATAK,KAZIYANA FATEHPUR,FATEHPUR,UTTAR
    PRADESH,212601
    E-Mail AKSHAYK151@GMAIL.COM
    Status Individual Assessment Year 2021-2022
    Ward Year Ended 31.3.2021
    PAN BXZPG7238M Date of Birth 27/07/1992
    Residential Status Resident Sex Male
    Nature of Business PROFESSIONS-Interior decoration(16008)
    Filing Status Original
    Return Filed On 21/09/2021 Acknowledgement No.: 550334480210921
    Last Year Return Filed On 06/03/2021 Serial No.: 283443810060321
    Aadhaar No: 623657081179 Passport No.:
    Bank Name KOTAK MAHINDRA BANK LIMITED, DELHI, A/C NO:1911731724 ,Type:
    Saving ,IFSC: KKBK0004583
    Tele: Mob:8826167134

    Computation of Total Income [As per Normal Provisions]

    Income from Salary (Chapter IV A) 111422

    2626 CREATIVE STUDIO PRIVATE LIMITED


    Employer Status: PSU.
    DELHI DELHI-110074
    Salary 161422
    Less: Standard Deduction u/s 16(ia) 50000
    111422

    Income from Business or Profession (Chapter IV D) 572431


    Income u/s 44ADA 572431

    Gross Total Income 683853

    Less: Deductions (Chapter VI-A)


    u/s 80C
    L.I.P. 150000
    150000
    u/s 80GG 44615
    194615
    Total Income 489238
    Round off u/s 288 A 489240
    Adjusted total income (ATI) is not more than Rs. 20 lakh hence AMT not applicable.

    Tax Due 11962


    Rebate u/s 87A 11962
    0
    T.D.S./T.C.S 89215
    -89215
    Refundable (Round off u/s 288B) 89220
    NAME OF ASSESSEE : AKSHAY KUMAR GUPTA A.Y. 2021-2022 PAN : BXZPG7238M Code :489

    Tax calculation on Normal income of Rs 489240/-


    Exemption Limit :250000
    Tax on (489240-250000) =239240 @5% = 11962
    Total Tax = 11962

    T.D.S./ T.C.S. From


    Non-Salary(as per Annexure) 86215
    Salary(as per Annexure) 3000
    Due Date for filing of Return July 31, 2021
    Due date extended to 30/09/2021
    Income Declared u/s 44 ADA Professional
    Gross Receipts 1144861.00
    Deemed Profit 572430.50 50.00 %
    Net Profit Declared 572431.00 50.00 %

    Details of T.D.S. on Non-Salary(26 AS Import Date:21 Sep 2021)


    S.No Name of the Deductor Tax deduction Amount Paid/credited Total Tax Amount out of (5)
    A/C No. of the deducted claimed for this year
    deductor
    1 2626 CREATIVE STUDIO PRIVATE DELC15904A 110000 8250 8250
    LIMITED
    2 EKANEK NETWORKS PRIVATE DELE10529B 21670 1975 1975
    LIMITED
    3 LAW & KENNETH SAATCHI & SAATCHI MUMS36795D 639191 47940 47940
    PRIVATE LIMITED
    4 SAATCHI & SAATCHI PRIVATE LIMITED MUMS42793C 374000 28050 28050
    TOTAL 1144861 86215 86215

    Head wise Summary on Income and TDS thereon


    Head Section Amount As per Location of Income for TDS
    Paid/Credited As Computation Comparison
    per 26AS
    Business 194J 21670 1144861 Gross Receipt 1975
    44ADA:1144861
    Business 194JB 1123191 as above as above 84240
    Total 1144861 1144861 86215

    Details of T.D.S. on Salary(26 AS Import Date:21 Sep 2021)


    S.No Name of the employer Tax deduction A/C No. of Income chargeable Tax deducted at source
    the deductor under the head Salaries u/s. 192(1)
    1 2626 CREATIVE STUDIO PRIVATE LIMITED DELC15904A 161422 3000
    TOTAL 161422 3000

    Bank Account Detail


    S. No. Bank Address Account No MICR NO IFSC Code Type
    1 KOTAK MAHINDRA BANK DELHI 1911731724 KKBK0004583 Saving(Primary)
    LIMITED

    Allowable Deduction u/s 80GG


    MAXIMUM Rs. 5000/- PER MONTH(12 Months) 60000

    Page 2
    NAME OF ASSESSEE : AKSHAY KUMAR GUPTA A.Y. 2021-2022 PAN : BXZPG7238M Code :489

    25% of Adjusted Gross Total Income 133463


    Rent Paid - 10% of Adjusted Gross Total Income(98000-53385) 44615
    Allowable Deduction 44615

    Signature
    (AKSHAY KUMAR GUPTA)
    CompuTax : 489 [AKSHAY KUMAR GUPTA]

    Page 3

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