FINANCIAL YEAR ANNEXURE_II NEW REGIME ASSESSMENT YEAR
2023 - 2024 INCOME TAX CALCULATION AGE : 47 Yrs 2024 - 2025
● Sri. KANAKARAJU MANDA Vill. : BUDAGATLAPALEM EMP. Tr ID : 0122243
● SA ENG Mdl : ETCHERLA EMP. PAN : APIPM9498R
● OFFICE : Z.P.H.SCHOOL Dist : SRIKAKULAM EMP. P.F. : GPF EMPLOYEE
01 GROSS SALARY 12,12,306 12,12,306
02 HRA Exemption as per eligibility U/s 10(13A) RENT 8300 x 12 = Rs. 99,600
a) ACTUAL HRA RECEIVED : (HRA + Addl. HRA) (BP+DA) x 10% = Rs. 1,12,121 0
b) Rent paid (Minus) 10% of SALARY Rent paid - 10% = Rs. - 0
c) 40% of SALARY ( SALARY means B.P.+D.A. ) LIVING IN : RENTED HOUSE 0 0
03 TOTAL SALARY (After H.R.A. EXEMPTION) (1-2) 12,12,306
04 DEDUCTIONS FROM SALARY INCOME
a) Conveyance Allowance U/s 10(14)(i) PHA + R.A. + DHOBI (Exemption) 0
b) Standard Deduction U/s 16(ia) BUDGET-2019 Max : Rs. 50000 50,000
b) Profession Tax U/s 16 (iii) 0 50,000
05 INCOME FROM SALARY (3-4) 11,62,306
06 INCOME FROM OTHER SOURCES 0
07 INCOME FROM FAMILY PENSION 0 - (0/3)=0-0=0 0
08 Income/Loss From House Property U/s 24 (vi) 0 0
09 INCOME FROM SALARY + OTHERS (5+6+7+8) 11,62,306
10 SAVINGS u/s 80C,80CCC,80CCD…Etc.
a)GPF_CPS : A/c No. : 18724 SALARY DEDUCTION 0
b)A.P.G.L.I. : A/c No. : L2707646 SALARY DEDUCTION 0
c) G.I.S. ( Group Insurance Scheme ) SALARY DEDUCTION 0
d) L.I.C. PREMIUMS (Paid by Hand) 0
e) POSTAL LIFE INSURANCE (PLI/RPLI) 0
f) SUKANYA SAMRIDHI YOJANA 0
g) S.B.I. LIFE INSURANCE 0
h) PUBLIC PROVIDENT FUND 0
i) TUTION FEE FOR CHILDREN 0
j) HOME LOAN PRINCIPLE AMOUNT 0
k) STAMP DUTY & REGISTRATION 0
l) HDFC LIFE INSURANCE 0
m) OTHERS_________________ 0
TOTAL SAVINGS U/s 80C (Limited to 1,50,000) 0 0
11 National Pension Scheme U/s 80CCD (1)(B) (Limited to 50,000) 0 0
National Pension Scheme U/s 80CCD (2) Employer's Matching Contribution 0 0
12 GROSS TOTAL INCOME (9-10-11) 11,62,306
13 DEDUCTIONS U/s 80D,80E,80G,80U,24(B)
a) E.W.F & S.W.F & CMRF U/s 80(G) SALARY DEDUCTION 0
b) Interest on Housing Loan Advance U/s 24B 0
c) Interest on Educational Loan U/s 80E 0
d) Deduction for DISABLED (SELF) u/s 80U 0
e) Medical Insurance Premiums 80D Self/Spouse/Children/Dependents 0
f) Donations of Charitable Trust 80G Donation for ______________________ 0
g) Employee Health Scheme (EHS) 80D SALARY DEDUCTION 0
DEDUCTIONS U/s 80D,80E,80G,80U,24(B) TOTAL : 10(a) to 10(g) 0 0
14 NET TAXABLE INCOME (12-13) Rounded to nearest Rs.10 u/s 288-A 11,62,310
15 TAX ON INCOME ( SLAB WISE )
SLAB 1 Rs. 000000 - Rs. 300000 3,00,000 00% 0
NEW REGIME
SLAB 2 Rs. 300001 - Rs. 600000 3,00,000 05% 15,000
SLAB 3 Rs. 600001 - Rs. 900000 3,00,000 10% 30,000
SLAB 4 Rs. 900001 - Rs.1200000 2,62,310 15% 39,347
SLAB 5 Rs.1200001 - Rs.1500000 - 20% 0
SLAB 6 Rs.1500000 & ABOVE - 30% 0
֍ NEW REGIME IS APPLIED (AGE : 47 Yrs) TAX ON INCOME 84,347 84,347
16 LESS : TAX Rebate under section 87(A) TAX REBATE IS NOT APPLIED 0
17 TAX ON INCOME (After TAX REBATE) 84,347
18 ADD : SURCHARGE (After Marginal Relief) 0
19 ADD : Health and Education Cess @ 4% 84347 x 4% = 3,374
20 TAX on INCOME after adding CESS 84347 + 3374 = 87,721
21 LESS : TAX RELIEF under section 89(1) TAX RELIEF IS NOT APPLIED 0 0
22 LESS : TOTAL ADVANCE TAX PAID (Mar - 2023 to Feb - 2024) 80,000 80,000
23 TAX TO BE PAID NOW (FOR A.Y. : 2024-2025) (20-21-22) 7,721
SIGNATURE OF THE DDO SIGNATURE OF THE EMPLOYEE
Prepared by : Ramanjaneyulu PERUMAL S.G.TEACHER RAHIMANPURAM 9963535304
