Monthly inputs

Yearly inputs

INCOME TAX COMPUTATIONS FOR THE ASSESSMENT YEAR 2020-2021 (FINANCIAL YEAR
Name
City
PAN
Age
Date of Joining
Date of Termination
No.of years of service 0.00

Income from House Property yes

No of months given on rent

PARTICULARS Limits
1 Basic Pay
2 Dearness Allowance
3 House Rent Allowance
Less:Exempt u/s 10(13A)
Rent paid
10% of salary
lowest of the three
1)Rent paid-10% of salary
2)40% or 50% of salary
3)Actual HRA
4 Special Allowance-Sec 10(14)(uniform etc)
Less:Actually incurred
4(a) Children Eductaion Allowance
Less:lower of
a) Actual
b) Rs.100*per month *per child(limited to 2) -
4(b) Children Hostel Allowance
Less:Lower of
a) Actual
b) Rs.300*per month *per child(limited to 2) -
4(c) Transport Allowance
Less:Lower of
a) Actual
b) Rs.1600*per month -
4(d) Other taxable allowances
5 Exgratia
6 Profit share
8 Perquisites
TERMINATION PAY
7 Gratuity
Less:Lower of
As per ACT 1,000,000.00
Actually received
Half months salary *for each completed year of service
Total Salary
Less:Standard Deduction u/s 16 50,000.00
Less:Professional Tax
Less:LTA u/s 10(A) Limited to economy travlel
A Net Salary
Rent received
Less:Muncipal Tax
Less:Standard Deduction
Less:Interest paid on House Loan
B Income from House Property
C Other Income
Interest from savings Bank account
Interest from fixed deposits
Other income

Gross Total Income

D Investments
DEDUCTION U/S 80 C ,80CCC and 80CCD
PROVIDENT FUND
LIC PAID / Other Life Insurance Premium
CHILDREN'S TUTION FEES
NSC PURCHASED
PPF DEPOSIT
STAMP DUTY on Home
REPAYMENT OF HOME LOAN
ELSS
NP
OTHERS (SPECIFY)

TOTAL 150,000.00
DEDUCTION U/S 80 D - MEDICLAIM INSURANCE
AGE
FOR SELF and family -Mediclaim
FOR Parents-Mediclaim
FOR PARENTS without medical insurance
Preventive health check up
DEDUCTION U/S 80 G
Donation
Less:50% of the donation

DEDUCTION U/S 80 EE
interest on educational Loan Taken
Eligible deduction upto 7 years
DEDUCTION U/S 80 TTA
Bank interest 10,000.00

Any other Eligibile deductio

Total Chapter VIA deduction

NET Income

Tax payable
Surcharge
Cess
Total Tax payable
Less:Rebate u/s 87A
Net Tax payable
Tax deducted
Balance tax payable
No .of months
Monthly deduction
SSMENT YEAR 2020-2021 (FINANCIAL YEAR 2019-2020)
Children
Months
landlord PAN

LTA block 2018,2019.2020,2021

LTA availed year 1 no 2021
LTA availed year 2 no 2018
LTA availed year 3 yes 2019
LTA availed year 4 yes 2020
LTA availed 2

Computations
Monthly inputs Yearly inputs TAXABLE
- - a
- - b -
- - c -
lower of i or ii or iii -
- d
- - e=(a+b)*10%

- - i=d-e
- - ii=%(a+b)
- - iii
-
-
- -

-
-
- -

-
-
- -

-
-
- -
-
-
- -
 -

1,000,000.00
-
-
- - -
50,000.00
-
-
-50,000.00
- -

-
-
-

25,000.00
650,000.00
450,000.00 1,125,000.00

1,075,000.00

- -

Limit(Rs.) Amt.Paid(Rs.)
25000
25000
30000
5000 0

- 0

250,000.00 250,000.00
25,000.00 10,000.00

-
260,000.00

815,000.00

75,500.00
-
3,020.00
78,520.00
-
78,520.00
45,000.00
33,520.00
12.00
2,793.33
yes 2018
no 2019
2020
2021

Metro
Others