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    Computation of Total Income Income From Salary (Chapter IV A) 779813

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    Akash Jaipuria
    This document summarizes an individual's total income computation for tax purposes. It shows that the individual had a gross total income of Rs. 779813 from salary including allowances, with a standard deduction of Rs. 50000, resulting in total income from salary of Rs. 779813. Total deductions under section 80C amounted to Rs. 99430, resulting in an adjusted total income of Rs. 680383. The total tax due was calculated as Rs. 48576, including a health and education cess of Rs. 1943, for a total of Rs. 50519. However, Rs. 40000 was deducted through taxes, so the tax payable was Rs. 0.

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    Computation of Total Income Income From Salary (Chapter IV A) 779813

    Uploaded by

    Akash Jaipuria
    30 views1 page
    This document summarizes an individual's total income computation for tax purposes. It shows that the individual had a gross total income of Rs. 779813 from salary including allowances, with a standard deduction of Rs. 50000, resulting in total income from salary of Rs. 779813. Total deductions under section 80C amounted to Rs. 99430, resulting in an adjusted total income of Rs. 680383. The total tax due was calculated as Rs. 48576, including a health and education cess of Rs. 1943, for a total of Rs. 50519. However, Rs. 40000 was deducted through taxes, so the tax payable was Rs. 0.

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    This document summarizes an individual's total income computation for tax purposes. It shows that the individual had a gross total income of Rs. 779813 from salary including allowances, with a standard deduction of Rs. 50000, resulting in total income from salary of Rs. 779813. Total deductions under section 80C amounted to Rs. 99430, resulting in an adjusted total income of Rs. 680383. The total tax due was calculated as Rs. 48576, including a health and education cess of Rs. 1943, for a total of Rs. 50519. However, Rs. 40000 was deducted through taxes, so the tax payable was Rs. 0.

    Copyright:

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

    Computation of Total Income Income From Salary (Chapter IV A) 779813

    Uploaded by

    Akash Jaipuria
    This document summarizes an individual's total income computation for tax purposes. It shows that the individual had a gross total income of Rs. 779813 from salary including allowances, with a standard deduction of Rs. 50000, resulting in total income from salary of Rs. 779813. Total deductions under section 80C amounted to Rs. 99430, resulting in an adjusted total income of Rs. 680383. The total tax due was calculated as Rs. 48576, including a health and education cess of Rs. 1943, for a total of Rs. 50519. However, Rs. 40000 was deducted through taxes, so the tax payable was Rs. 0.

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    Computation of Total Income

    Income from Salary (Chapter IV A) 779813


    Jila mahila chikitsalay
    Employer Status: Other
    gorakhpur gorakhpur g
    Salary 696735
    Dearness Allowance 131076
    other allowance 2002
    829813
    Less: Standard Deduction u/s 16(ia) 50000
    779813
    Gross Total Income 779813
    Less: Deductions (Chapter VI-A)
    u/s 80C
    G.P.F. 97430
    GIS 2000
    Total 99430
    99430
    99430
    Total Income 680383
    Round off u/s 288 A 680380
    Adjusted total income (ATI) is not more than Rs. 20 lakh hence AMT not applicable.
    Tax Due (Exemption Limit Rs. 250000) 48576
    Health & 1943
    Education Cess
    (HEC) @ 4.00%
    50519
    Tds deducted 40000
    10519
    Tax Payable 0
    Tax calculation on Normal income of Rs 680383/-
    Exemption Limit :250000
    Tax on (500000 -250000) = 250000 @5% = 12500
    Tax on 500001 to 680383 = 180383 @20% = 36077
    Total Tax = 48577

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