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    Computation of Tax - Nandish Mehta

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    Neeraj Mishra
    computation of tax

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    Computation of Tax - Nandish Mehta

    Uploaded by

    Neeraj Mishra
    7 views1 page
    computation of tax

    Original Title

    Computation of Tax_Nandish Mehta

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    computation of tax

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    7 views1 page

    Computation of Tax - Nandish Mehta

    Uploaded by

    Neeraj Mishra
    computation of tax

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    A.Y.

    2024-25

    Statement of Income
    Rs. Rs. Rs.
    n Income from Salary
    Gross Salary
    ADITYA BIRLA FINANCE LIMITED 945,663
    KOTAK MAHINDRA BANK LIMITED 476,731 1,422,394
    Less : Exempt Allowances u/s. 10
    Sec 10(5) -LTA 62,500
    Sec 10(13A) -HRA 465,000 527,500

    Less : Deductions u/s 16


    Standard deduction u/s 16(ia) 50,000
    Professional tax u/s 16(iii) 2,500 52,500

    Income chargeable under the head "Salaries" 842,394

    n Profitsand Gains From Other Sources


    Interest from Income Tax Refund 2,488
    Interest Receied in Saving Bank Account 508

    Income chargeable under the head "Other Souces" 2,996

    n Gross Total Income 845,390


    Deductions under Chapter VI-A
    42,614
    Total Deductions subject to Maximum Limit of Rs.150000/- 42,614
    80D Mediclaim 12,845

    80TTA : Deduction in respect of Interest Received in Saving Bank 508

    n Total Income 789,423

    Calculation of Tax
    Total income rounded off u/s 288A 789,420
    Tax on total income 70,384
    Less: Rebate u/s. 87A 0
    70,384
    Add: Education cess 2,815
    Tax with cess 73,199
    Less :TDS 112,234
    n Balance Tax Refundable 39,035

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