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April 2021 Income Tax Computation

This document contains Prashanth A S's income tax computation statement for April 2021. It shows that his gross salary is INR 537,258 but various exemptions and deductions bring his taxable income to INR 462,940. However, after calculating taxes owed, the total tax liability is INR 0. The document also outlines deductions taken, including INR 21,600 to his Employees' Provident Fund, and calculates that no tax will be recovered from his monthly salary.

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152 views2 pages

April 2021 Income Tax Computation

This document contains Prashanth A S's income tax computation statement for April 2021. It shows that his gross salary is INR 537,258 but various exemptions and deductions bring his taxable income to INR 462,940. However, after calculating taxes owed, the total tax liability is INR 0. The document also outlines deductions taken, including INR 21,600 to his Employees' Provident Fund, and calculates that no tax will be recovered from his monthly salary.

Uploaded by

Lady Killer
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Employee Code 373520 Employee Name PRASHANTH A S

Date Of Birth 03/10/1996 Date of Joining 01/02/2021

PAN NO ENOPP5425D Tax Regime Old Tax Regime

Projected income tax computation statement for the month of Apr 2021

Tax Computation Amount (INR)

Gross Salary 537,258.00

Accommodation / Furnishing 0.00

Retirement Fund Perq 0.00

Exemptions Under Section 10 & 17 0.00

Gross Salary after Section 10 & 17 exemptions 537,258.00

Net Salary 537,258.00

Income received from previous employer salary 0.00

Professional Tax recovered by previous employer 0.00

Professional Tax recovered by Current Employer 2,400.00

Professional Tax 2,400.00

Standard Deduction under section 16 (I) 50,000.00

Income chargeable under the head Salaries 484,858.00

House property income or loss 0.00

Other income 0.00

Gross Total Income 484,858.00

Additional Interest on House property - (Section 80EE/ 80EEA) 0.00

Other Deduction under chapter VI-A 318.00

Deductions Under Chapter VI-A - 80C 21,600.00

Net Taxable Income 462,940.00

Tax on Net Income 0.00

Income Tax payable 0.00

Surcharge on Income Tax 0.00

Health and Education Cess 0.00

Total Tax Liability 0.00

Income Tax Per Month 0.00

Marginal Tax to be Recovered for this Month 0.00

Tax to be Recovered for the Current Month 0.00

Total Income tax paid from salary till date 0.00

Tax paid outside salary / Tax recovered by previous employer 0.00

Income Tax due 0.00

Remaining months in the current Year 11.00

TDS to be recovered per month 0.00

Other Deduction under chapter VI-A 0.00 0.00

Medical Insurance Premium (Sec 80D) 318.00 318.00

Total Deductibles 0.00 318.00

Deductions Under Chapter VI-A - 80C 0.00 0.00


Employees Provident Fund 21,600.00 21,600.00

80C Total Limited to 1.5 Lakh Excluding NPS 0.00 21,600.00

Total 80C limit to be capped 2 lakh 0.00 21,600.00

TAX CALCULATION 0.00 0.00

Tax Calculation on Taxable Income 0.00 462,940.00

0 - 250000 : 0% 0.00 0.00

250001 - 500000 : 5% 0.00 10,647.00

500001 - 1000000 : 20% 0.00 0.00

1000001 - 9999999999 : 30% 0.00 0.00

Tax Rebate 0.00 10,647.00

Tax (After Tax Rebate) 0.00 0.00

Surcharge 0.00 0.00

Health and Education Cess 0.00 0.00

Total Tax Liability 0.00 0.00

OTHER TDS DETAILS 0.00 0.00

Previous Company TDS 0.00 0.00

OUTSITE TDS 0.00 0.00

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