RELIANCE NIPPON LIFE INSURANCE TAX FORECAST FOR THE MONTH OF FEBRUARY 2024

TAX REGIME OPTED:OLD DOB:29/04/1982 GROUP DOJ:26/09/2023

EMPLOYEE:(70647829) SATNAM SINGH BHENGURA BRANCH:MU — BKC — CORP — GENDER:M PAN:AMHPB3668E DOJ:26/09/2023
—————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————
————————————————————————————————————————————————————Actual————————————————————————————————————————————————————|Projected—
PARTICULARS APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH TOTAL
—————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————
BASIC 0 0 0 0 0 0 61250 50750 54250 52500 52500 52500 323750
HRA 0 0 0 0 0 0 30625 25375 27125 26250 26250 26250 161875
PERSONAL PAY 0 0 0 0 0 0 101996 84511 90339 87425 87425 87425 539121
—————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————
TOTAL EARNING 0 0 0 0 0 0 193871 160636 171714 166175 166175 166175 1024746
—————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————
Income Tax Dedu 0 0 0 0 0 0 3509 2696 3162 3060 29818 0 42245
P.F. 0 0 0 0 0 0 7350 6090 6510 6300 6300 6300 38850
Profession Tax 0 0 0 0 0 0 200 200 200 200 300 200 1300
—————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————
TOTAL DEDUCTION 0 0 0 0 0 0 11059 8986 9872 9560 36418 6500 82395
—————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————
NET 0 0 0 0 0 0 182812 151650 161842 156615 129757 159675 942351
—————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————
TAX CALCULATIONS NEW REGIME OLD REGIME|EXEMPTION U/S10/OTHERS.......................|CALCULATION OF HRA REBATE......................
————————————————— —————————— —————————|HRA REBATE 39500 | RENT FROM TO
TOTAL EARNING 1024746 1024746| | 25000 01/10/2023 31/10/2023 — HRA
ADD : PERKS & OTHERS 0 0|INVESTMENTS U/S 80C..........................| 25000 01/01/2024 31/01/2024 — HRA
TOTAL GROSS 1024746 1024746|PF—DED 38850 |
|Life Insurance Premium 150000 |A. HOUSE RENT ALLOWANCE 52500
LESS: EXEMPTION U/S10/OTHERS 0 39500|TOTAL (Restricted to 150000) 188850 |B. TOTAL RENT 50000
LESS: PROFESSION TAX 0 1300| | LESS 10% OF BASIC SALARY (10500) 39500
LESS: STANDARD DEDUCTION 50000 50000|—————————————————————————————————————————————|C. 50% OF BASIC SALARY 52500
NET SALARY 974746 933946|PROOFS RECEIVED..............................| HRA REBATE (LEAST OF A,B,C) 39500
|Life Insurance Premium 150000 |
LESS: HOUSING LOAN INTEREST 0 0|Rent 25000 |
LESS: INVEST. U/S 80C 0 150000|Rent 25000 |TAX CALCULATION ON TAXABLE INCOME.....RS.783946
LESS: INVESTMENTS U/S 80(OTH) 0 0| | 0— 250000: 250000 x 0% = 0.00
| | 250000— 500000: 250000 x 5% = 12500.00
TAXABLE INCOME 974746 783946| | 500000— 783946: 283946 x 20% = 56789.20
| |TOTAL (Rounded) = 69290.00
TOTAL TAX 58461 72062| |EDUCATION CESS @ 4% on 69290 = 2772.00
———————————————————————————————————————————————————| |TOTAL TAX = 72062.00
TAX APPLIED AS PER OLD REGIME 72062 | |
———————————————————————————————————————————————————| |
LESS: TAX DEDUCTED AT SOURCE 42245 | |
| |
BALANCE TAX PAYABLE 29817 | |
BALANCE NUMBER OF MONTHS 1 | |
MONTHLY TAX 29817 | |