TAX INVOICE ORIGINAL FOR RECIPIENT

Figo India Limited

Site at Shahabad to Saha Highway, Opp. Global Galaxy Invoice No.
College, Landi Shahabad, haryana , Maharashtra, 136135 Invoice Date
06/09/2024
GSTIN: 06AADCF9127B1ZY
Due Date 13/09/2024
Mobile: 9831182289
Email : figoi@gmail.com
PAN Number : AADCF91278

SHIP TO
BILL TO
GALLYS ENGGINEERING COMPANY GALLY'S ENGGINEERING COMPANY
140/1, BENARAS ROAD, SALKIA, Howrah, West Bengal,
Howrah, 711106
Mobile: 9831182289
GSTIN: 19AEAPG1282L1ZH
PAN Number : AEAPG1282L
State: West Bengal

RATE DISC. TAX AMOUNT

SNO. ITEMS HSN QTY.
AUTO PNEMATICALLY 84798910 7SET 92,50,000 1,61,87,500 87,41,250 5,73,03,750
1 (25) (184)
OPARATED PLC ROUND TAB
MACHINE (AUTO
PNEMATICALLY OPARATED
PLC ROUND 1 MACHI
FEEDING HOPPER 73090090 4 PCS 9,20,000 9,20,000 4,96,800 32,56,800
(25%) (18%)

CONVEYOR BELT 25584848 3 PCS 25.00.000 18,75,000 10,12,500 66.37.500

(253) (18)
PNEUMATIC SYSTEM 61616446 3 SET 26,00,000 19.50.000 10.53,000 69,03,000
4 (25%) (183)

COOLING SYSTEM 464694 3 SET 50.00.000 22.50.000 22,95,000 1,50,45,000

5 (18)
(15%)

t231,82,500 1,35,98,550 91,46,050

SUBTOTAL
TAXABLE AMOUNT 7,55,47,500
TERMS AND CONDITIONS P1,35,98,550
1. Goods once sold will not be taken back or IGST @18%
exchanged TOTAL AMOUNT a,91,46,o50
2. All disputes are subject to [Kolkata]
jurisdiction only Received Amount
Prey Balance 8,91,46,048
BANK DETAILS C 17,82,92,098
Balance
Name: Gallys Engineering Company
IFSC Code: UTIBOO02777
917020063742773
Total Amount (in words)
Account No: Eight Crore Ninety One Lakh Forty Six
Bank: Axis Bank,SALKIA Thousand Fifty Rupees

Authorised Signature for

Figo india Limited
 GST Calculation:
1. AUTO PNEMATICALLY OPERATED PLC ROUND TAB
MACHINE
- Rate: 92,50, 000
- Quantity: 7 SETS
- Discount: 25%
- /GST: 18%

2. FEEDING HOPPER

- Rate: 9,20,000
- Quantity: 4 PCS
- Discount: 25%
- IGST: 18%

3. CONVEYOR BELT

- Rate: 25,00,000
Quantity: 3 PCS
 INTRODUCTION OF INCOME TAX
Income tax is a financial charge imposed by governments on the income earned by
individuals, businesses, and other entities. It serves as a primary source of revenue for
govemments, enabling them to fund public services such as cducation, healthcare,
infrastructure, and social welfare programs. The tax is calculated based on the taxable
income, which includes wages, salaries, profits, and other carnings, minus allowable
deductions and exemptions.
Income tax systems vary globally, with diferent countries applying varying rates and
structures. Typically, taxes are levicd progressively, meaning higher income levels are taxed
at higher rates. Some countries use flat rates, where a single percentage applies to all income.
In addition to personal income tax, corporations and busincsses are subject to corporate
income taxes on their profits.
Income tax policies are designed to promote fairness and cconomic stability. They can also
influence economic behavior by encouraging investment, savings, and charitable.

FEATURES OF INCOME TAX

Income tax features include:

" Progressive Tax Rates: Higher income levels are taxcd at higher rates, aiming for
faimess in tax burden distribution.
" Taxable Income: Calculatcd from total carnings minus deductions, exemptions, and
allowances.
" Deductions and Exemptions: Reductions in taxable income for expenses like
mortgage interest, charitable donations, and education.
Filing Requirements: Taxpayers must report income and calculate tax liability, often
annually.
" Withholding and Prepayments: Employers may withhold taxes from wages, and
businesses often make quarterly payments.
" Tax Credits: Direct reductions in tax liability for specific activities or investments.
" Varied Rates: Different countries and jurisdictions have unique tax rates and brackets.
" Compliance and Enforcement: Legal obligations and penaltics for non-compliance
ensure adherence to tax laws.

TAX SLABS IN INDIA ACCORDING TO AGE

FOLLOWING ARE THE TAX SLABS IN INDIA
I. Tax Slabs for Individuals Below 60 Years of Age
Income Range Old Regime New Regime
Up to 2.5 lakh Nil Nil
2,50,001 to S lakh 5% 5%
S,00,001 to 10 lakh 10% 10%
10,00,001 to 12.5 lakh 15% 15%
12,50,001 to 15 lakh 20% 20%
Above 15 lakh B0% 302

II. Tax Slabs for Senior Citizens (60 years and above but less than 80
years)
Income Range Old Regime New Regime
Up to 3 lakh Nil Ni

3,00,001 to 5 lakh 5% 5%
S.00,001 to 10 lakh 109 10%
R10,00,001 to R12.5 lakh 15% 15%
12,50,001 to 15 lakh 20% 20%
Above 15 lakh 30% 309%

I. Tax Slabs for Super Senior Citizens (80 years and above)
Income Range Old Regime New Regime
Up to t5 lakh Nil Ni
S,00,001 to 10 lakh 109 102%
R10,00,001 to 12.5 lakh 15% 15%
12,50,001 to 15 lakh 209 20%
Above 15 lakh 309 30%
 INCOME TAX REPORT &INCOME TAX CALCULATOR

Nature Amount Exemption/Deduction Taxable(Old regime) Taxable(New reg1me)

Basic Salary 12,00,C00 12,00,000 12,00.000

HRA 6,00,000 3,60,000 240,000 6 00 000

Special Allowance 2,52,000 2,52,000 2,52,000

LTA 20,000 12,000 (bills submitted) 8,000 20.000

Standard Deduction 50,000 50,000 75 000

Gross Total Income from Salary 16,50,000 19,97,000

An income tax report details a taxpayer's financial situation and tax liability for a specific
period. It typically includes revenue, allowable deductions, taxable income, and applicable
tax rates. The report summarizes income from various sources, subtracts eligible expenses,
and calculates the final tax owed or refund due. It also includes adjustments for tax credits
and prepayments. Accurate income tax reports are crucial for compliance with tax laws,
avoiding penalties, and ensuring fair tax assessment. They are used by individuals,
businesses, and tax authorities to review financial health and verify tax obligations.
ClearTax Suggestion: You should opt for New Regime as it will provide you benefit of Rs. 65,780 over Old Regimc.

Post-Budget (Old Regime) Post-Budget (Naw Regima)

FY(20242025) FY(2024-2025)

Total Income Rs. 65,10,000 Rs. 65,10,000

Exemptions & Deductions ^

Exempt Allowances Rs 0 Rs. 0

Standard Deductions 50. 000 Ra 75 000

Chapter VIA Deductbons Rs 0 Rs 0

Taxable Income Rs. 60,60,000 Rs. 62,35,000

Tax duO on abbove A

Income lax Rs. 16,18,000 H. 15,B0,500

Health and Educabun Cess Rs. 71,192 Rs 88,6A2

An income tax calculator is a tool designed to estimate an individual's or business's tax

liability based on their income and applicable tax rates. By inputting details such as total
carnings, deductions, exemptions, and credits, the calculator provides a quick and accurate
estimation of the amount owed or the potential refund. It simplifies tax planning and helps
users understand their financial obligations. Income tax calculators often incorporate current
 FIVE HEADS OF INCOME TAX
In India, income is classified into five heads for tax purposes. Here's a brief summary of
each:

1. Income from Salary

" Description: Includes wages, pensions, annuities, gratuities, and other benefits
received by an employee from an employer.
Components: Basic salary, House Rent Allowance (HRA), Leave Travel Allowance
(LTA), bonuses, and other allowances.
" Taxation: Taxed based on the applicable income tax slab rates after considering
exemptions like HRA and standard deductions.
2. Income from House Property

" Description: Income carned from owning property, such as rental income.
Components: Gross Annual Value (GAV) of the property, less municipal taxes paid,
and standard deduction of 30% for repairs and maintenance.
" Taxation: Net Annual Value (NAV) is taxed under the applicable slab rates.

3. Profits and Gains from Business or Profession

" Deseription: Income carned from running a business or practicing a profession.

Components: Revenue from sales or services, less business expenses like rent,
salaries, and utilities.
Taxation: Net profit is taxed under the applicable slab rates. Businesses may also be
subject to presumptive taxation under certain conditions.

4. Capital Gains
" Description: Income from the sale of capital assets such as property, stocks, or bonds.
" Types:
o Short-term Capital Gains (STCG): Assets held for less than 36 months (12
months for certain assets like shares).
o Long-term Capital Gains (LTCG): Assets held for more than 36 months (12
months for certain assets like shares).
Taxation: STCG is taxed at nomal slab rates, while LTCG is taxed at a lower rate,
typically 20% with indexation benefits.

5. Incomne from Other Sources

Description: Residual category for income not covered under the other heads.
Components: Interest from savings accounts, fixed deposits, dividends, lottery
winnings, and gifts.
Taxation: Taxed at the applicable slab rates, with specific exemptions and deductions
available for certain types of income.
These five heads of income help in categorizing and calculating
a comprehensive assessment of an individual's or entity's tax taxable income, ensuring
liability.
PAN AND TAN
PAN (Permanent Account Number)
Description:
" PAN is a unique 10-character alphanumeric identifier issued by the Income Tax
Department of India to all taxpayers.
It is used to track financial transactions and prevent tax evasion.
Structure:
" The PAN format is ABCDE1234F, where the first five characters are letters, the next
four are numbers, and the last character is a letter.
Importance:
1. Tax Filing: PAN is mandatory for filing income tax
returns.a certain limit, such a
2. Financial Transactions: Required for transactions above
opening a bank account, buying property, or investing in
3. TDS and TCS: PAN must be quoted for Tax Deducted atsecurities.
Source (TDS) and Tax
Collected at Source (TCS) transactions.
4. ldentity Proof: Serves as a valid proof of
identity.

TAN (Tax Deduction and Collection Account Number)

Description:
TAN is a 10-digit alphanumeric number required by entities responsible for deducting
or collecting tax at source.
Issued by the Income Tax Department, it is used to track TDS and TCS
transactions.
Structure:
" The TAN format is
ABCDE12345, where the first four
five are numbers, and the last characters are letters, the next
character is a letter.