Exemption u/s 10 (13A) 1.Mr. A, employed with XYZ Ltd. Up to 31.10.2016, received following emoluments S.No. Particulars Rupees 1. Basic pay p.m. 13,000 2. Bonus for the year received in July, 2015 7,200 3. Club facility (for private use only) Expenditure by employer p.m. 700 4. House Rent Allowance p.m. 2,800 5. Employer’s contribution … Read more
One Computation of Taxable Salary and allowances, Deduction for Interest on Housing Loan and Deduction u/s 80C. Mr. X, a Central Govt. Officers in Delhi, is receiving Basic Pay Rs.40,000, DA at prescribed rates, transport allowances @ Rs.3600+DA thereon, and HRA (existing- from 1st July 2017 @24% of basic pay (though living in his own … Read more
Calculation of Income Tax – Above The Age Of 80 Years For Assessment Year 2018-19 A.Calculation of Income tax in the case of a retired employee above the age of 80 years and having gross pension of: i. 5,00,000/-, ii. 8,00,000/- , iii.12,50,000/-. B .What will be the amount of TDS in case of above employees, if … Read more
Calculation of Income tax – Retired employee above the age of sixty years but below the age of 80 years For Assessment Year 2018-19 A. Calculation of Income tax in the case of a retired employee above the age of sixty years but below the age of 80 years and having gross pension of: iv. 4,50,000/-, v. … Read more
Calculation Of Tax House Building Loan Example 6 For Assessment Year 2018-19 Illustrating Valuation of perquisite and calculation of tax in the case of an employee below the age of 60 years of a Private Company posted at Delhi and repaying House Building Loan ( With valid PAN furnished to employer). S.No. Particulars Rupees … Read more