Income Tax Computation For 2008-2009

GOVERNMENT POLYTECHNIC, WARANGAL.

INCOME TAX STATEMENT FOR THE FINANCIAL YEAR 2007-08 STATEMENT SHOWING PAY & ALLOWANCES DRAWN BY S.No. PERIOD 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

PAY

Mar-07 0 Apr-07 0 May-07 0 Jun-07 0 Jul-07 0 Aug-07 0 Sep-07 0 Oct-07 0 Nov-07 0 Dec-07 0 Jan-08 0 Feb-08 0 SEL Jan-08 0 DA ARREARS - 1. DA ARREARS - 2. CAS ARREARS OTHERS ARREARS OTHERS TOTAL 0

D.P.

F.P.I. P.P.

OTHH.R.A. C.C.A. ERS

D.A.

0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0

120 120 120 120 120 120 120 120 120 120 120 120

0

0

0

0 0 0

0

60

0

0

0

0

0 1500

SIGNATURE OF STAFF MEMBER

0 0 0 0

0 DEDUCTIONS

TOTAL 120 120 120 120 120 120 120 120 120 120 120 120

0

0

60 0 0 0 0 0 1500

G.P.F. A.P.G.L.I. L.I.C. G.I.S. P.T. SUBSR LOAN SUBSR LOAN 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0

0

0

0

0

0

0

0

SIGNATURE OF D.D.O.

OTHERS

I.T.

NET TOTAL SALARY

0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0

120 120 120 120 120 120 120 120 120 120 120 120

0

0 0 0 0 0 0 0

60 0 0 0 0 0 1500

0 0 0 0

0

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ENTER '1' in case of MALE & '2' in case of FEMALE in the CELL J1 →

1

ENTER '1' in case MARRIED & '2' in case BACHELOR in the CELL J2 →

1

ENTER '1' in case of Medical Insurance Premium on a dependent & '2' in case it is on a dependent a Senior Citizen in CELL J4 →

0

ENTER '1' in case of EXPENDITURE on a HANDICAPPED DEPENDENT & '2' in case it is on a dependent with SEVERE DISABILITY in CELL J7 →

0

Enter '1' in case of Expenditure on Assessee/ Dependent for Specified diseases & '2' in case the Assessee/Dependent is a SENIOR Citizen in CELL J10 →

0

ENTER '1' in case YOU are a PHYSICALLY HANDICAPPED ASSESSEE & '2' in case YOU have SEVERE DISABILITY in CELL J13 →

0

ENTER '1' if paid INTEREST on HOUSE LOAN taken before 01-04-1999 & 2' if paid INTEREST on HOUSE LOAN taken on or after 1-4-99 in CELL J16 →

0

ENTER '1' if you are a SENIOR CITIZEN with age of 65 yrs or above in J18→

0

INCOME - TAX STATEMENT FOR THE FINANCIAL YEAR 2007-2008 Name of the Employee Designation Department / Office Govt. Polytechnic, Warangal. Residential Address INCOME TAX PERMANENT A/C No. (PAN) Rs.

Rs.

Rs.

1. Estimated Gross Income for the financial year 2007-2008. PAY D.P. F.P.I. P.P. D.A. H.R.A. C.C.A. OTHERS TOTAL

0 0 0 0 0 0 1500 0 1500

2. i) Whether living in a rented house and actually incurring expenditure on rent. ii) Deduction in respect of H.R.A. exemption a) Actual H.R.A. received b) 10% of salary c) Actual rent paid d) Excess rent paid above 10% of salary e) 40% of salary f) Least of a,d,e

0 0 0 0 0

iii) H.R.A. Deduction U/S 10 (13A)

0

3. Balance [ 1 - 2 (iii) ] 4. LESS: Professional Tax U/S 16 (iii) 5. Gross Total Income [ 3 - 4 ] 6. Other income not being a loss on which T.D.S. has to be made

1500 0 1500 0

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7. Net income [ 5 + 6 ]

8. Deductions under chapter VI A a) Medical insurance premium up to Rs. 10000/( Rs. 15000/- if beneficiary is a senior citizen with age 65 years & above ) U/S 80 D b) Expenditure on a handicapped dependant, max. Rs. 50000/- at flat rate ( Rs. 75000/- in case of dependent with severe disability ) U/S 80 DD c) Actual expenditure on assessee / dependant patient for treatment of specified diseases limited to Rs. 40000/- ( Rs. 60000/- in case of senior citizen, 65 yrs & above) U/S 80 DDB d) Relief to physically handicapped / mentally retarded assessee, Rs. 50000/- ( in case of severe disability, Rs. 75000/- ) U/S 80 U

1500 GROSS QUALI AMOUNT FYING

0

0

0

0

0

0

0

0

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Rs.

e) Repayment of Educational loan of assessee, max. limited to Rs. 40000/- ( loan & interest ) U/S 80 E f) Interest on House Loans, max. Rs. 30000/for loans before 01-04-1999 & Rs. 150000/for loans on or after 01-04-1999. g) Contribution to specified funds U/S 80 G TOTAL h) TOTAL QUALIFYING AMOUNT (DEDUCTION)

Rs.

Rs.

0

0

0

0

0 0

0 0 0

9. Total income [ 7 - 8 (h) ]

1500

10. A) Specified savings qualifying for deduction U/S 80 C a) G.P.F. b) A.P.G.L.I. c) L.I.C. & P.L.I. (Salary deduction) d) G.I.S. e) P.P.F. f) ULIP / LIC, Mutual Funds etc. g) N.S.C. h) Interest on N.S.C. i) House loan repayment. j) Tuition fees paid on children's education k) L.I.C. Premia paid l) P.L.I. Premia paid m) Tax Saving Infrastructural Bonds B) Contributions to L.I.C. & other pension schemes U/S 80 CCC TOTAL [ A + B ] n) TOTAL QUALIFYING AMOUNT

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

11. a) Total Taxable Income [ 9 - 10 (n) ] b) Total Taxable Income (rounded to nearest 10/-)

1500 1500

12. a) Income Tax on income at S.No. 11 (b) Up to Rs 110000/-

0

NIL

Rs. 110000/- to 150000/-

10% of amount exceeding 110000/-

Rs. 150001/- to 250000/-

Rs. 4000+20% of amount exceeding 150000/-

Rs. 250001/- & above

Rs. 24000+30% of amount exceeding 250000/-

b) Surcharge @ 10% of tax payable for income above Rs. 1000000/c) Educational cess @ 3% of tax payable on (a+b) d) Gross income tax [ a + b + c ]

0 0 0

13. a) LESS : Relief on arrears U/S 89 (i) b) Tax Liability during 2007-08 [ 12 (d) - 13 (a) ] 14. a) LESS: Tax already deducted up to Dec, 07 b) Tax to be deducted from Jan, 08 onwards In Jan,2008 In Feb,2008 Rs. 0 Rs. 0 TAX TO BE PAID THROUGH CHALLAN Name 0 Designation 0 Place of working Govt. Polytechnic, Warangal.

0 0 0 0

Rs.

0

Signature of staff member

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RATES OF INCOME TAX FOR WOMEN, FOR THE FINANCIAL YEAR 2006-07 Up to Rs 180000/Rs. 180001/- to 300000/Rs. 300001/- to 500000/Rs. 500001/- & above

→ → → →

NIL 10% of amount exceeding 180000/Rs. 12000+20% of amount exceeding 500000/Rs. 52000+30% of amount exceeding 500000/-

RATES OF INCOME TAX FOR SENIOR CITIZENS, FOR THE FINANCIAL YEAR 2006-07 Up to Rs 195000/Rs. 195001/- to 250000/Rs. 250001/- & above

→ → →

NIL 20% of amount exceeding 195000/Rs. 11000+30% of amount exceeding 250000/-

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0

Page 7

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FORM No. 16 [ See rule 31 (1) (a) ] Certificate under section 203 of Income Tax Act 1961 for tax deducted at source from income chargeable under the head "Salaries"

Name and Address of the Employer PRINCIPAL, Government Polytechnic, WARANGAL. GIR No.

TAN No. HYDG02658F

T.D.S. Circle where Annual Return / Statement under section 206 is to be filed

Name and Designation of the Employee 0 0 Govt. Polytechnic, Warangal. 0 PAN No.

0

PERIOD FROM TO 1-4-07 31-3-08

Assessment Year 2008-2009

DETAILS OF SALARY PAID & ANY OTHER INCOME AND TAX DEDUCTED Rs.

Rs.

Rs.

1. Gross Salary

Rs.

1500

2. Less : Allowance to the extent exempted under section 10

0

3. BALANCE [ 1 - 2 ]

1500

4. Less : Tax on Employment U/S 16 (iii)

0

6. INCOME CHARGEABLE UNDER THE HEAD SALARIES [ 3 - 4 ]

1500

7. Add : Any other income reported by the employee

0

8. GROSS TOTAL INCOME [ 6 + 7 ]

1500

9. DEDUCTIONS UNDER CHAPTER VI A

GROSS QUALI AMOUNT FYING AMOUNT

a) Medical insurance premia paid U/S 80 D b) Expenditure on dependants U/S 80 DD c) Expenditure on assessee / dependants U/S 80 DDB d) Relief to physically handicapped / mentally retarded assessee U/S 80 U e) Repayment of Educational loan U/S 80 E f) Interest on House Loans g) Contribution to specified funds U/S 80 G TOTAL

0 0 0

0 0 0

0

0

0 0 0 0

0 0 0 0

10. Aggregate of deductible amount under Chapter VI A

0

11. Total Income [ 8 - 10 ]

1500

12. A) Specified savings qualifying for deduction U/S 80 C a) G.P.F. b) A.P.G.L.I. c) L.I.C. & P.L.I. (Salary deduction) d) G.I.S. e) P.P.F. f) ULIP / LIC, Mutual Funds etc. g) N.S.C.

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0 0 0 0 0 0 0

Rs.

h) Interest on N.S.C. i) House loan repayment. j) Tuition fees paid on children's education k) L.I.C. Premia paid l) P.L.I. Premia paid m) Tax Saving Infrastructural Bonds B) Contributions to L.I.C. & other pension schemes U/S 80 CCC TOTAL [ A + B ] n) TOTAL QUALIFYING AMOUNT

Rs.

Rs.

0 0 0 0 0 0 0 0 0

13. a) Total Taxable Income [ 11 - 12 (n) ] b) Total Taxable Income (rounded to nearest 10/-)

1500 1500

14. a) Income Tax on income at S.No. 13 (b) b) Surcharge @ 10% of tax payable for income above Rs. 1000000/c) Educational cess @ 3% of tax payable on (a+b) d) Gross income tax [ a + b + c ]

0 0

15. a) LESS : Relief on arrears U/S 89 (i) b) Tax Liability during 2007-08 [ 14 (d) - 15 (a) ]

0 0

16. LESS : TAX DEDUCTED AT SOURCE

0

17. TAX PAYABLE

0

0 0

DETAILS OF TAX DEDUCTED AND DEPOSITED INTO CENTRAL GOVERNMENT ACCOUNT

AMOUNT Rs.

MONTH / DATE OF PAYMENT

0 0 0 0 0 0 0 0 0 0 0 0 0 0

Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08

NAME OF THE BANK BRANCH WHERE DEPOSITED

TAX

DEDUCTED THROUGH SALARY - do - do - do - do - do - do - do - do - do - do - do T.D.S. ON CAS & OTHER ARREARS TOTAL TAX DEDUCTED AT SOURCE

Certified that a sum of Rs. ( in words ) … only has been deducted at source and paid to the credit of Central Government. Further certified that the above information is true and correct as per records

Signature of the person responsible for deduction of tax Full name : XXX Designation :

Place : Date :

WARANGAL 04-04-2008

Note :

See sections 15 and 17 and rule 3. Furnish separate details of value of perquisites and profits in lieu of or in addition to salary or wages

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