Income Tax Projection Guide

Version 1.0

D IS C LAIM E R

This Excel sheet is not the tax calculator.

This is applicable to India Salary only
This is not a Form16 document. This document cannot be used for Income Tax Filing.

FEATURES
IT projection report in Excel format is compatible with all the excel readers. Compact statement of
your IT projection i.e., the probable earnings and deductions components are depicted in different
color combinations to give you a clearer picture, Easy download of IT projection statement. The
report can be triggered to the employee’s mailbox.

PLEASE READ THESE INSTRUCTIONS CAREFULLY

This IT Projection Sheet has two parts, Part one represents Pay code wise Taxable
Earnings/Projected Earnings and Deductions.
Part two represents Projected Tax Liability for the Financial Year
All the titles are shown in Bold Black font with Green background in both the parts
PAR T -1
The table is represented in pay code vs. month format where month starts from April to March
according to the financial year.
All Earning and deduction pay components are shown in Brown font
All the earned values till current month are in Blue Font
All the deducted values are in the Black Font
Total earnings is shown in Bold Blue font
Total Deductions is shown in Bold Black font
All the Projected earnings for the future months are in Green Font
All the Projected deductions for the future months are in Green Font
If earnings are not paid for a particular component in a month, will be shown in Blue colored
Dash/Hyphen(-)
Non projected Earning components are represented as Green dash/hyphen.(-)
For example, QPLC, Variable Pay etc
PAR T -2
All the earnings details are represented in Blue font
Under gross earnings, gross salary displayed is exclusive of bus deductions
All the deduction details are represented in Black font
Total for earnings is represented in Bold Blue font and total deduction details are shown in Bold
Black font.
The Perquisites are displaying in earning part and also added to the Gross earnings
In tax computation part, Tax slabs are shown with respect to the selected financial year and
gender.
TAX RULES & OTHER USEFUL INFORMATION
HRA exemption = minimum of (40% (50% for metros) of Basic+DA or HRA or rent paid - 10% of
Basic+DA)
Commutation Allowance is exempt up to Rs.1600/- per month provided the person is in India
during the month. If employee has opted for Wipro bus then Commutation Allowance exemption is
not provided.
LTA is exempt to the tune of economy class airfare for the family to any destination in India, by the
shortest route.
LTA can be claimed twice in a block of 4 calendar years. The current block is from Jan 2014 to Dec
2017
There is an exemption for interest on housing loan. If the loan was taken before Apr 1, 1999
exemption is limited to Rs.30,000/- per year. If the loan was taken after Apr 1, 1999 exemption is
limited to Rs.2,00,000/- per year if the house is self-occupied; there is no limit if the house is let out
for rent and exemption is given after reducing the income from house property. To claim this
exemption house construction should have completed and it should be occupied during the
Financial Year.

Income From other sources like, Interest earned from all sources is included is fully taxable.
Medical Insurance (such as Mediclaim) premium is exempt up to Rs.25,000/- per year for self,
spouse & dependent children. An additional Rs.25,000/- is exempt towards premium for parents
(even if they are not dependent). If the parent's) are above 65 years of age, an extra Rs.5,000/-
can be claimed
Deduction in respect of medical treatment of handicapped dependents is limited to Rs.75,000/- per
year if the disability is less than 80% and Rs.1,25,000/- per year if the disability is more than 80%

Deduction u/s 80DD and 80U increased to Rs. 75,000/- from Rs. 50,000/- in respect of person with
disability and to Rs. 1,25,000 from Rs. 1,00,000 in respect of person with severe disability.

Deduction in respect of medical treatment for specified ailments or diseases for the assessed or
dependent can be claimed up to Rs.40,000/- per year. If the person being treated is a senior
citizen, the exemption can go up to Rs.80,000/-
Interest repayment on education loan (taken for any education from a university for self, spouse &
children) is tax exempt
For WASE and WIMS employees: Section 80GG exemption is available for WASE and WIMS
students. This will be calculated as minimum of (25% of total income or rent paid - 10% of total
income or Rs.24,000/- per year)
Investments up to 1.5 lac in PF, VPF, PPF, Insurance Premium, Housing loan principal repayment,
NSC, ELSS, long term bank Fixed Deposit, Post Office Term Deposit, Sukanya Samrudhi Account
Scheme and Sec.80CCD(1B) - NPS contribution etc. are deductable from the taxable income
under sec 80C. There is no limit on individual items, so all 1.5 lac can be invested in NSC, for
example
Sec 80CCD- employee contribution to pension plan should be allowed exemption u/s 80CCD. It is
over and above 1.5 lac of 80C. Maximum limit is Rs.50,000
Surcharge: Surcharge on tax is increased from 10% to 12% where total income exceeding one
crore rupees.

NOTE: ALL THE EXEMPTIONS CAN BE CLAIMED ONLY IF YOU HAVE DECLARED THE SAME IN IT
DECLARATIONS. AND SUBMIT THE BILLS IN YEAR END WHEN IT IS ASKED TO SUBMIT.

click here to open your IT Projection sheet

� 2010 Wipro Limited. All Rights Reserved.

All the information in this file is private, privileged and confidential.
Users shall refrain from copying, distributing, misusing and / or disclosing the information to any
third parties under any circumstances whatsoever.
 Wipro Limited, Doddakannelli, Sarjapur Raod, Bangalore - 560035. India Tel : +91-80-28440011

WIPRO BPS
IT Projection (Gross Earnings / Projected earnings) For Financial Year 2015-2016
Employee No: 602530 Designation: ASSOCIATE ANALYST
Emp Name : MADHUJA KALLU Career Band: 1A
��
Location: HYDERABAD Company Code: WSM1
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Gender:
�� FEMALE PAN : BIPPK5087F
��
��
�� PAY CODE Vs MONTHS Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Total
BASIC 6817 7068 8525 4552 8819 8819 4267 8819 8819 8819 8819 8819 92962
BASIC_ARR 0 -486 -236 -588 3692 0 0 0 0 0 0 0 2382
HRA 2727 2828 4262 2276 4409 4409 2133 4409 4409 4409 4409 4409 45089
HRA_ARR 0 -194 -94 -294 1846 0 0 0 0 0 0 0 1264
CONV 1364 1414 1547 826 1600 1600 774 1600 1600 1600 1600 1600 17125
E CONV_ARR 0 -98 -47 -106 676 0 0 0 0 0 0 0 425
a PRS 2500 2500 2500 - - - - 0 0 0 0 0 7500
r
n GRPALLW - - 3124 1515 3347 3347 - 0 0 0 0 0 11333
i GRPALLW_ARR - - 0 0 1391 0 - 0 0 0 0 0 1391
n
g ADDLALLW 1814 1881 0 - - - - 0 0 0 0 0 3695
s ADDLALLW_ARR 0 -130 -63 - - - - 0 0 0 0 0 -193
ADVBON 653 677 677 361 700 700 339 700 700 700 700 700 7607
ADVBON_ARR 0 -46 -23 -46 299 0 0 0 0 0 0 0 184
13SHIF 2178 2250 1814 0 2500 2500 - 0 0 0 0 0 11242
13SHIF_ARR 0 0 0 606 2083 0 - 0 0 0 0 0 2689
TOTAL EARNINGS 18053 17664 21986 9102 31362 21375 7513 15528 15528 15528 15528 15528 204695

D PF 818 790 995 476 1501 1058 512 512 512 512 512 512 8710
e
d VPF 0 0 0 0 0 0 0 0 0 0 0 0 0
u PT 200 200 200 0 200 200 0 0 0 0 0 0 1000
c
IT 0 0 0 0 0 0 0 - - - - - 0
t
i LIC 0 0 0 0 0 0 0 0 0 0 0 0 0
o MEDCLM 0 0 0 0 0 0 0 0 0 0 0 0 0
n
s
TOTAL DEDUCTIONS 1018 990 1195 476 1701 1258 512 512 512 512 512 512 9710

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 Wipro Limited, Doddakannelli, Sarjapur Raod, Bangalore - 560035. India Tel : +91-80-28440011

Projected Tax Liability For Financial Year 2015-2016

1) Gross Earnings Amount 8) Deductions Under Chapter Vl-(Sec 80c) Gross Amount Qualifying Amount Tax rebate/Relief
Gross salary Rs. 206340 PF/VPF/FPF Rs. 11441 Rs. 11441 Rs. 11441
Perq. Co accom Rs. 0 LIC Pension Rs. 0 Rs. 0 Rs. 0
Perq. Vehicle Rs. 0 TATAAIG Pension Rs. 0 Rs. 0 Rs. 0
Perq. F&E Rs. 0 Inv. In Infrastructure Comp. Rs. 0 Rs. 0 Rs. 0
Perq. Transfer of Asset (F&E) Rs. 0 Insurance Premium Rs. 0 Rs. 0 Rs. 0
Perq. Transfer of Asset (CAR) Rs. 0 TATA Insurance Premium Rs. 0 Rs. 0 Rs. 0
Perq Int. Loan Rs. 0 Master Equity Plan Rs. 0 Rs. 0 Rs. 0
Perq Long Service Award Rs. 0 Mutual Fund Rs. 0 Rs. 0 Rs. 0
Perq Others Rs. 0 Interest on NSC Rs. 0 Rs. 0 Rs. 0
Perq Vehicle Driver Rs. 0 Housing Loan- Principal Rs. 0 Rs. 0 Rs. 0
Perq. ESOP Rs. 0 Deposits In PPF Rs. 0 Rs. 0 Rs. 0
Perq. Medical Rs. 0 Subscription To ULIP Rs. 0 Rs. 0 Rs. 0
Perq. Pension Contribution Rs. 0 Investment on NSC Rs. 0 Rs. 0 Rs. 0
Total of Perqs Rs. 0 Education Expenses Rs. 0 Rs. 0 Rs. 0
Total Rs. 206340 Fixed Deposit in Nationalized Rs. 0 Rs. 0 Rs. 0
Sukanya Samrudhi Account Schem Rs. 0 Rs. 0 Rs. 0
2) Exemptions Under Section 10 Amount Aggregate Of Deductible Amount - 2 Rs. 0 Rs. 0 Rs. 11441
1) Less HRA Relief U/S 10(13A) Rs. 0
Minimum of the following three 9) Deductions Under Chapter Vl-A Gross Amount Qualifying Amount Tax rebate/Relief
i) 40% / 50 % of Applicable Basic Rs. 0 Medical Insurance Premium Rs. 0 Rs. 0 Rs. 0
ii) Annual rent paid - 10 % of Applicable Basic Rs. 0 Education Loan Repayment Rs. 0 Rs. 0 Rs. 0
iii) HRA paid thru salary Rs. 0 Med. Treat. -Self /Dependant Rs. 0 Rs. 0 Rs. 0
2) Less CONV Relief U/S 10 Rs. 17125 Physically Handicapped Deposit Rs. 0 Rs. 0 Rs. 0
3) Less LTA Relief Rs. 0 Sec.80U - Physically Handicapp Rs. 0 Rs. 0 Rs. 0
Total Rs. 17125 Sec.80CCD(2) - NPS Contributio Rs. 0 Rs. 0 Rs. 0
Sec.80CCD(1B) - NPS Contributi Rs. 0 Rs. 0 Rs. 0
3) Balance (1) - (2) Rs. 189215 Sec.80CCG - Rajiv Gandhi Equit Rs. 0 Rs. 0 Rs. 0
Aggregate Of Deductible Amount - 1 Rs. 0 Rs. 0 Rs. 0
4) Employment Tax Amount
Professional Tax Rs. 1000 10) Aggregate Of total Deductible Amount Rs. 11441
Aggregate of 4 Rs. 1000
11) Taxable Income Rs. 176780
5) Income chargeable under head Salaries(3)-(4) Rs. 188215
TAX COMPUTATION
6) Other Income Amount TAX SLABS FOR THE YEAR 2015-2016 QUALIFYING AMOUNT Rs. 176780
House Property (Incl any loss) Rs. 0 Slab No. Tax Slabs Tax Rate Applicable Amount Balance Amount Tax Amount
Other income Rs. 0 1) 1 - 250000 0% Rs. 176780 Rs. 0 Rs. 0
2) 250001 - 500000 10% Rs. 0 Rs. 0 Rs. 0
7) Gross Total Income (5) + (6) Rs. 188220 3) 500001 - 1000000 20% Rs. 0 Rs. 0 Rs. 0
4) 1000001 - 999999999 30% Rs. 0 Rs. 0 Rs. 0
12.1) Tax on Total Income Rs. 0
12.2) Surcharge on Tax Rs. 0
12.3) Educational Cess Rs. 0
12.4) Net Tax Rs. 0

13) Tax Deducted at Source Rs. 0

14) Tax Payable/Refundable Rs. 0

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 Wipro Limited, Doddakannelli, Sarjapur Raod, Bangalore - 560035. India Tel : +91-80-28440011

15) Tax Recovered During the Month Rs. 0

16) Balance Tax Payable Rs. 0

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