Professional Documents
Culture Documents
www.tenalibadi.webs.com
www.gunturbadi.com
Data Sheet
ow
Form-16 (Back)
6 (A4) Form-10-I
(A4)
Rent Receipt
Interest on Housing Loans Section Income from House property: (Model Calculation)
###1. Rent received Rs.10,000 pm x 12months= Rs.1,20,000
For self occupied properties, interest paid on a ###2. Less Municipal Tax paid = Rs. 20,000
housing loan up to Rs 200,000 per year is exempt
3. Balance amount (Rs.1,20,000-Rs.20,000) Rs.1,00,000
from tax. This deduction is in addition to the
deductions under sections 80C, 80CCF and 80D. 4. Less:30% deduction U/s 24 for repairs on bal Rs.1 lakh= Rs.30,000
However, this is only applicable for a residence (This deduction is allowed even if you do not spend the amount for
constructed within three financial years after the loan repairs)
is taken and also the loan if taken after April 1, 1999. 5. Balance after 30% deduction = 1,00,000-30,000=70,000
6. Less interest paid on Housing loan-----------Rs. 1,60,000
7. Balance Amt.= 70,000-160000=Rs. -90,000 (loss from house property). But the
If the house is not occupied due to employment, the interest on housing loan is allowed Max. Rs.1,50,000 only. So the loss from house
house will be considered self occupied. property will become Rs.80,000 insted of Rs.90,000. This loss Rs.80,000 can be
adjusted in other income say salary or business.
Supposing if your salary income is Rs.3,00,000 per year.
For let out properties, the entire interest paid is After this house loss your net taxable income will be *Rs.2,20,000.
deductible under section 24 of the Income Tax act.
However, the rent is to be shown as income from Further the principal paid to the bank through EMI, Say Rs.1,20,000. This principal
such properties. 30% of rent received and municipal amount paid will be treated as deduction u/s 80C. 80C deduction Max. allowed is
taxes paid are available for deduction of tax. restricted to **Rs.1,00,000 (along with other investments link LIC,PPF & NSC ect.). This
deduction of Rs.1,00,000 can be claimed by you on your total income.
The above said net taxable income *Rs.2,20,000 will be reduced by the above said 80c
deductioin **Rs.1,00,000. After adjusting the income with 80C deduction, balance
taxable is Rs.1,20,000 only.
Self Occupied Property
A self Occupied property is one which is used by the person for his own residential purpose.If a person has occupied more
than one property for his residential purpose then only one house is treated as self occupied and others are treated as
"Deemed to be let out".If a person uses his property for carrying on the business and profession then income from such
property is not chargeable to tax under House Property
How to determine annual value of self-occupied property?
In case of one self-occupied house property which has not been actually let out at any time, the annual value is taken as
nil. If, one is having more than one house property using all of them for self-occupation, he is entitled to exercise an
option in terms of which, the value of one house property as specified by him will be taken at nil. The annual value of the
other self occupied house properties will be determined on notional basis as if these had been let out.
Annual Value of one house away from work place
A person may own a house property, say in Bangalore, which he normally uses for his residence. He is transferred to
Chennai where he does not own any house property and stays in a rental accommodation. In such case, the house
property income therefore would normally have been chargeable although he derives no benefit from the property. To
save the taxpayer from hardship in such situations, it has been specifically provided that the annual value of such a
property would be taken to be nil subject to the following conditions:
The assessee must be owner of only one house property.
He is not able to occupy the house property because of his employment, business etc. being away from place where the
property is situated.
The property should not have been actually let.
He has to reside at the place of employment in a building not belonging to him.
He does not derive any other benefit from the property not occupied.
How to Compute Income from House Property? Let-Out (Rented) and Self-Occupied
Any Income from house property should be a part of your total income from other various sources such as salary, capital
gains, business/profession and other income like winning from lottery, horse race etc. Mostly such Income from house
property are in the form of rental income, even some time these incomes can be negative; for example, you have taken a
home loan and you are paying the interest on the outstanding loan principal amount. If the house property is self occupied
where obviously no rental income can be generated then these interests paid will be treated as loss (negative income)
from house property. And the best part is you can claim such losses to reduce your net tax liability, but upto certain limit.
0
Employee who is d
Please Reduce bel
(42267)
Employee who is d
Your drawing HRA
#REF!
Now Your drawing
It is correct Rent,
Now Your drawing
Though Your
Though Your receiv
Though Your receiv
#REF!
Salary means =PAY+DA Cash
SCA Allowences
0
0
0
0
o is drawing HRA above Rs.36000/- Annually should submit Rent Recept
ce below Monthly Rent Paid by You (Upto this Message disappear)
o is drawing HRA upto Rs.3000/- (Annually Rs.36000/-)Per month will be exempted from production of Rent Recept
HRA is more than Rs.36000/-, So you reduce your Rent Paid monthly Upto Rs.5900/-
HRA= It is more than Rs.36000/- So reduce Rent, Otherwise You should submit Rent Receipt
wing HRA below Rs.36000/------OK
ent, You need not Change Rent
wing HRA below Rs.36000/------OK
78,304 Claimed HRA= , 78,267 It is below 36000, So You need not submit Rent Receipt
received HRA=78304, Claimed HRA=78267, It is below 36000, So You need not submit Rent Receipt
received HRA=78304, Claimed HRA=78267, It is below 36000, So You need not submit Rent Receipt
#REF!
Select
Please Reduce below Monthly Rent Paid by You (Upto this
Message disappear)
Select
AAS Incre.Arrear
For latest Income Tax Programme download here www.gunturbadi.com K S S PRASAD DUGGIRALA (GP)
It may change
Financial year ANNEXURE - II Assessment year
2015-2016 INCOME TAX CALCULATION 2016-2017
Name Sri. K S S PRASAD Office M P P S, GANESH PURAM, DUGGIRALA
Designation SGT Address DUGGIRALA(M) , GUNTUR
Residence Rented House Pan No Emp.Tre ID
1 Gross Salary 814,922
2 H.R.A. Exemption as per eligibility U/s. 10(13-A)
a) Actual HRA received 78,304
b) Rent paid by you minus 10% of your Salary (Rent @ 12600 /-) 78,267
c) 40% of Salary (Salary means Basic Pay+D.A) 291,731 78,267
3 Total Salary (1-2) 736,655
4 Deductions from Salary Income
a) Exemption from Conveyance Allowance U/s. 10(14) (i)
b) Profession Tax U/s 16 (3) B 2,400 2,400
5 Income From Salary (3- 734,255
6 Income From other sourc -
7 Income From Capital Gai -
8 Income from House Prop 0
9 Gross Total Income (5 734,255
10 Deductions
a) E.W.F & S.W.F & CMRF 70
b) Interest of Educational Loan -
c) Medical treatment of dependent -
d) Interest of Housing Loan -
e) Any Other enter here AND Health Insurence -
TOTAL----------- 70 70
11 Gross Total Income (9-10) 734,185
12 Savings U/s 80C (Limited to 1.50,000)
a) GPF/ZPPF
b) APGLI
c) GIS
d) Tuition Fee for Children -
e) Principle Amount of Home Loan installments -
f) LIC Policies premium - Yearly -
g) Sukanya Samruddhi Yojana -
h) Any Other enter here -
Total Savings - -
a) Infrastructure Bonds - -
b) Additional benefit under NPS U/s 80CCD(1B)
13 Net Taxable Income (11-12) (Rounded nearest 10 rupees) 734,190
14 Tax on Income
a) Up to Rs. 2,50,000 Nil
b) Rs.2,50,001 To 5,00,000. (250000 @ 10%) 25000
c) Rs.5,00,001 To 10,00,000. (234190 @ 20%) 46838
d) above Rs.10,00,001.
Tax on Income 71838
15 Tax Rebate U/s 87A (Rs.2000/-Rebate Upto Rs.5,00,000/- Taxble Income) 0
16 Education Cess @ 2% 1437
17 Secondary & Higher Education Cess @ 1% 718
18 Total Tax Payable (14+16+17-15) 73993
19 Details of Adv.Tax Deductions Adv. Tax Deductions
a) Upto Nov-2015 Rs 0
b) Dec-2015 Rs 0
c) Jan-2016 Rs 0
d) Feb-2016 Rs 0 TAX TO BE PAID NOW 73,993
For Und
Select
DATA PA
Signature of the Drawing Officer Signature of the Employee
.
It may change
FORM No. 16 ( Vide rule 31(1)(a) of Income Tax Rules, 1962 )
Certificate under section 203 of the Income-tax Act, 1961
for Tax deducted at source from income chargeable under the head "salaries"
NAME AND ADDRESS OF THE EMPLOYER NAME AND DESIGNATION OF THE EMPLOYEE
Sri. Sri. K S S PRASAD
- SGT
, M P P S, GANESH PURAM, DUGGIRALA
DUGGIRALA, GUNTUR
PAN No. of Deductor TAN No. of Deductor PAN OF Employee Emp. Treasusy Id
Acknowledgement Nos.of allquarterly statements of TDS under sub-section 200 as provided by TIN facilitation center or NSDL web-site
Acknowledgeme Amoun
Quarter Period Assessment
nt No t
Quarter - 1 - From To Year
Quarter - 2 -
Quarter - 3 - Mar/2015 Feb/2016 2016-2017
Quarter - 4 -
DETAILS OF SALARY PAID AND ANY OTHER INCOME AND TAX DEDUCTED
1 Gross Salary 814,922
a) Salary as per provisions cotained in section 17 (1) -
b) Value of percuisites under section 17(2) -
(As Per Form No. 12BA, Wherever applicable)
c) Profits in lieu of salary under section 17(3) -
(as per Form No. 12BA, Wherver applicable)
d) Total 814,922 814,922
2 Less: Allowance to the extent exempted U/s 10
a) House Rent Allowence 78,267
b) Other Allowance 78,267
3 Balance (1-2) 736,655
4 Deductions
a) Entertainment Allowence -
b) Tax on Employment 2,400
5 Aggreate of 4 (a)&(b) 2,400
6 INCOME UNDER THE HEAD SALARIES (3-5) 734,255
7 Any other income reported by the empl -
Income of Capital Gains -
Income from House Property 0
8 Gross Total Income (6+7) 734,255
9 Deductions Under Chapter VI-A
A) UnderSections 80C,80CCC,80CCD,80CCF Gross Amount Qualify Amount
a) 80C GPF/ZPPF 150,000
b) 80C A.P.G.L.I - -
c) 80C G.I.S - -
d) 80CC Tuition Fee for Children - -
e) 80CC Principle Amount of Home Loan installments - -
f) 80CC LIC Policies premium - Yearly - -
g) 80CC Sukanya Samruddhi Yojana - -
h) Any Other enter here - -
### 0 150,000 -
Total Income Under 80C Section
a) 80CCF Infrastructure Bonds 0 0 0
b) Additional benefit under NPS U/s 80CCD(1B)
B) Other Sections Under Chapter VI A
a) 80G E.W.F & S.W.F & CMR 70 70
b) 80E Interest of Educational Loan - -
c) 80DD Medical treatment of dependent - -
d) 24B Interest of Housing Loan - -
e) 80d Any Other enter here AND Health Insurence - -
70 70 70
Aggregate of Deductible Amounts U/Chapter VIA (A+B)----------------------------- 70
Note: 1.aggregate amount deductible under section 80c shall not exceed one lakh rupees.
2.aggregate amount deductible under section 80C,80CCC,80CCD, shall not exceed one lakh rupees.
For latest Income Tax Programme download here www.gunturbadi.com K S S PRASAD DUGGIRALA (GP)
10 TOTAL INCOME (8-9) Rs 734,190
11 TAX ON TOTAL INCOME Rs. Rs -
12 Tax Rebate U/s 87A (Rs.2000/-Rebate Upto Rs.5,00,000/- Taxble Income) -
13 Education Cess @ 2% (On Tax at S.No.11 ) Rs 1,437
14 Secondary and Higher Education Cess @ 1% (On Tax at S.No.11 ) Rs 718
15 TAX PAYABLE (11+13+14-12) Rs 73,993
16 Less: Relief under section 89 (attach details) Rs -
17 TAX PAYABLE (15-16) Rs 73,993
18 (a) Tax deducted at source U/s 192(1) Rs -
(b)Tax paid by the employer on behalf of the employee U/s 192 (1A) on perquisited U/s 17 (2) Rs -
19 TAX PAYABLE Rs 73,993
Sl. TDS Surcharge Education Total Tax Cheque/DD BSR Code Date on Transfer
No. Rs. Rs. Cess Deposited No. (if any) of Bank Which Tax vocher/chalana
Rs. Rs. Branch DepositedIdentification No
1
2
3
4
5
6
7
8
9
10
11
12
I working in
the capacity of - do hereby certify that the sum of Rs 73993/-
Rupees in words.. Seventy three Thousand Nine Hundred and Ninety three rupees Only
has been deducted at source and paid to the credit of the central Government. I further certify that
the Informtion given above is true, complete and correct based on the books of account, documents and
other available records.
Sign--
You may
Delate / Change
this Date
You may
Delate / Change
this Date
Notional Increments
Surrender Leav
Child Fee Concession
StepUp Arrears
Preponement Arrear
Grand Totals 652,570 76,758 78,304 7,290 814,922 2,400 70 2,470 812,452
0 0 ### 0
For Und
Select
DATA PA
Signature of the Drawing Officer Signature of the Employee
.
For latest Income Tax Click here www.gunturbadi.com
.
FORM No. 16 ( Vide rule 31(1)(a) of Income Tax Rules, 1962 )
Certificate under section 203 of the Income-tax Act, 1961
for Tax deducted at source from income chargeable under the head "salaries"
NAME AND ADDRESS OF THE EMPLOYER NAME AND DESIGNATION OF THE EMPLOYEE
PAN No. of Deductor TAN No. of Deductor PAN OF Employee Emp. Treasusy Id
Acknowledgement Nos.of allquarterly statements of TDS under sub-section 200 as provided by TIN facilitation center or NSDL web-site
Acknowledgement
Quarter Amount Period Assessment
No
Quarter - 1 - From To Year
Quarter - 2 -
Quarter - 3 - Mar/2015 Feb/2016 2016-2017
Quarter - 4 -
DETAILS OF SALARY PAID AND ANY OTHER INCOME AND TAX DEDUCTED
1 Gross Salary Rs 814,922
a) Salary as per provisions cotained in section 17 (1) Rs -
b) Value of percuisites under section 17(2) Rs -
(As Per Form No. 12BA, Wherever applicable)
c) Profits in lieu of salary under section 17(3) Rs -
(as per Form No. 12BA, Wherver applicable)
d) Total Rs 814,922 Rs 814,922
2 Less: Allowance to the extent exempted U/s 10
a) House Rent Allowence Rs 78,267
b) Other Allowance Rs Rs 78,267
3 Balance (1-2) Rs 736,655
4 Deductions
a) Entertainment Allowence Rs -
b) Tax on Employment Rs 2,400
5 Aggreate of 4 (a)&(b) Rs 2,400
6 INCOME CHARGEABLE THE HEAD SALARIES (3-5) Rs 734,255
7 Any other income reported by the employee Rs -
Income of Capital Gains Rs -
Income from House Property Rs 0
8 Gross Total Income (6+7) Rs 734,255
9 Deductions Under Chapter VI-A
A) UnderSections 80C,80CCC,80CCD,80C Gross Amount Qualify Amount
a) 80C GPF/ZPPF Rs - Rs 150,000
b) 80C A.P.G.L.I Rs Rs -
c) 80C G.I.S Rs Rs -
d) 80CC Tuition Fee for Children Rs - Rs -
e) 80CC Principle Amount of Home Loan installments Rs - Rs -
f) 80CC LIC Policies premium - Yearly Rs - Rs -
g) 80CC Sukanya Samruddhi Yojana Rs - Rs -
h) Any Other enter here Rs - Rs -
i) 80CCF Infrastructure Bonds Rs - Rs -
## Rs 0 Rs 150,000 Rs 150,000
B) Other Sections Under Chapter VI A
a) 80G E.W.F & S.W.F & CMRF Rs 70 Rs 70
b) 80E Interest of Educational Loan Rs - Rs -
c) 80DD Medical treatment of dependent Rs - Rs -
d) 24B Interest of Housing Loan Rs - Rs -
e) 80d Any Other enter here AND Health Insurence Rs - Rs -
Rs 70 Rs 70 Rs 70
Aggregate of Deductible Amounts U/Chapter VIA (A+B)------------------------------- Rs 150,070
Note: 1.aggregate amount deductible under section 80c shall not exceed one lakh rupees.
2.aggregate amount deductible under section 80C,80CCC,80CCD, shall not exceed one lakh rupees.
For latest IncomeTax Programme enter here www.gunturbadi.com
10 TOTAL INCOME (8-9) Rs 734,190
Sl. TDS Surcharge Education Total Tax Cheque/DD BSR Code Date on Transfer
No. Rs. Rs. Cess Deposited No. (if any) of Bank Which Tax vocher/chalana
Rs. Rs. Branch Deposited Identification No
1
2
3
4
5
6
7
8
9
10
11
12
I working in
the capacity of - do hereby certify that the sum of Rs 73993/-
Rupees in words.. Seventy three Thousand Nine Hundred and Ninety three rupees Only
has been deducted at source and paid to the credit of the central Government. I further certify that the
Informtion given above is true, complete and correct based on the books of account, documents and other
available records.
Sign--
You may
Delate / Change
this Date
VERIFICATION
after considering the entire history of illness, careful examination and appropriate investigations,
I also certify (only in case of neurological disease) that the extent of disability is more than 40%)
(Strike off, if not applicable).
I certify that the information furnished above is true to the best of my knowledge.
To be countersigned by the Head of the Government hospital, where the prescribed authority is a
specialist with post-graduate degree in General or Internal Medicine.
Certificate No.
Date :
Sd/-
(Neurologist/Pediatric Neurologist/Civil Surgeon/
Chief Medical Officer*)
Name :___________________
Address of Institution/Government hospital :
____________________________________
____________________________________