Correction to Swamy’s Books

January, 2017

Leave Rules Made Objective

Cat. No. Q-1 (Free with C-6)

Page 7.—

In question No. 21, substitute option (c) with the following :—

(c) Head of Office

Substitute the following for the existing key in the following

pages :—

Page 57 Page 59 Page 62

Q. No. Ans. Q. No. Ans. Q. No. Ans.

13. (c) 118. (b) 283. (b)

30. (a) 295. (d)


 July, 2018 SN
1

Correction to Swamy’s Books

(1)
Swamy’s Income Tax on Salaries
Cat. No. G-7 — (Fiftieth Edition)

Page 127/128.— Chapter 12 — Solved Problem No. - 5.— Substitute the

following for the existing calculations.— “Ans”.
Ans.
Income from salary `
Pay 1-3 to 30-6 ` 1,52,000 x 4 ... ... 6,08,000
1-7 to 28-2 ` 1,56,600 x 8 ... ... 12,52,800
DA 1-3 to 30-6 ` 10,640 x 4 ... ... 42,560
1-7 to 28-2 ` 14,094 x 8 ... ... 1,12,752
HRA 1-3 to 30-6 ` 24,320 x 4 ... ... 97,280
1-7 to 28-2 ` 25,056 x 8 ... ... 2,00,448
Honorarium ... ... ... 2,000
Total 23,15,840
Less: HRA exempted (see Note below) ... ... 1,13,920
22,01,920
Deductions
Standard deduction – Under Sec. 16 (ia) ... ... 40,000
21,61,920
Under Sec. 80-G – 50% of donation to
Prime Minister’s Drought Relief Fund, i.e., 2,000 1,000
Total salary income ... ... ... 21,60,920
Add: Taxable income from House Property ... ... 12,000
21,72,920
Savings — (Sec. 80-C) `
GPF Subscription ... 1,20,000
CGEGI Scheme ... 1,440
LI Premia ... 15,200
Repayment of HBA ... 15,000
Total 1,51,640
Limited to ... ... 1,50,000
Taxable Income ... ... 20,22,920

Swamy Leads. Others follow

 2
Income Tax `
For the first ` 2,50,000 Nil
For the next ` 2,50,000 @ 5% 12,500
For the next ` 5,00,000 @ 20% 1,00,000
For the balance ` 10,22,920 @ 30% 3,06,876
4,19,376
Health and Education Cess at 4% of I.T. 16,775.04 or ` 16,775
Total I.T. plus cess payable 4,19,376 plus
16,775
4,36,151
(2)

Page 137.— Chapter 12 — Solved Problem No. - 11.— Substitute the

following for the existing calculations.— “Ans”.
Ans.
Income Tax Calculation
Salary Income `
Pay 1-3 to 30-6 ` 69,000
1-7 to 27-9 ` 71,100 ... ... 8,59,590
28-9 to 28-2 ` 74,000
DA 1-3 to 30-6 ` 4,830
1-7 to 27-9 ` 6,399 ... ... 71,843
28-9 to 28-2 ` 6,660
HRA 1-3 to 30-6 ` 11,040 ... ... 77,150
1-7 to 27-9 ` 11,376
10,08,583
Standard deduction – Sec. 16 (ia) ... ... 40,000
9,68,583
Savings — (Sec. 80-C) `
GPF Subscription ` 10,000 x 12 ... 1,20,000
PLI Premia ` 1,000 x 12 ... 12,000 1,32,000
Section 80-G :
Payment to Swachh Bharat Kosh and
Clean Ganga Fund ... ... 5,000
8,31,583
Taxable Income rounded off ... ... 8,31,580
 3
Income Tax `
First ` 2,50,000 = Nil
For the next ` 2,50,000 @ 5% = 12,500
For the balance ` 3,31,580 @ 20% = 66,316
= 78,816
Health and Education Cess at 4% of
IT = ` 3,152.64 = 3,153
Total IT and cess payable = 81,969
Rate of recovery:
I.T. ` 6,568 x 12
Cess ` 262 x 11 plus 271 x 1
(3)
Page 139 / 140.— Chapter 12 — Solved Problem No. - 12.— Substitute
the following for the existing calculations.—
TRANSPORT ALLOWANCE ` `
1-3-2018 to 30-6-2018
` 14,400 plus 7% DA = ` 15,408 x 4 = 61,632
1-7-2018 to 28-2-2019
` 14,400 plus 9% DA = ` 15,696 x 8 = 1,25,568 1,87,200
Perquisite in respect of reimbursement of
Medical expenditure = 50,000
Gross Salary = 15,72,312
Exemption
Transport Allowance
Sec. 10 (14) = ` 3,200 x 12 = 38,400
15,33,912
Deduction
Standard deduction – Sec. 16 (ia) = 40,000
14,93,912
Professional Tax (Section 16) ` 250 x 12 = 3,000
14,90,912
Under Section 80-C `
1. GPF contribution ` 8,000 x 12 = 96,000
2. Contribution to CGEGIS ` 120 x 12 = 1,440
3. Repayment of House Building
Advance ` 2,000 x 12 = 24,000
4. Postal Life Insurance ` 500 x 12 = 6,000
5. Life Insurance Premium = 20,000
6. Five years’ Fixed Deposit = 50,000
1,97,440
limited to ... 1,50,000
13,40,912
 4
`
13,40,912
Under Section 80-D
Premium paid on health insurance for self and family ... 20,000
Under Section 80-E
Repayment of interest on loan taken for higher
education of his son (2nd Assessment Year) ... 32,000
Under Section 80-G
Prime Minister’s National Relief Fund ... 2,000
National Fund for Control of Drug Abuse ... 1,000
Under Section 80-U
Being a person with disability (not severe) ... 75,000
Net Taxable Income rounded off ... 12,10,910

`
First ` 2,50,000 ... Nil
From ` 2,50,001 to ` 5,00,000 @ 5% 12,500
Next ` 5,00,000 @ 20% ... 1,00,000
Balance of ` 2,10,910 @ 30% ... 63,273
1,75,773
Health and Education Cess @ 4% on ` 1,75,773...7,030.92 7,031
Total tax payable ... 1,82,804

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 1

Correction to Swamy’s Books

Swamy’s Pay Rules Made Easy
Cat. No. G-4 — (Thirty-sixth Edition)

Lesson 8.– Standard Licence Fee

1. Page 87.— In the answer to Q. No. 3.—
Cost of land and its preparation – The figures ` 5,000 may be read
as ` 50,000.
Lesson 10.– Foreign Service
2. Page 124.— In the answer to Q. No. 2, under ‘Pay in FS’.
The figures ` 56,100 + 56,100 may be read as ` 56,100 + 5,610.

3. Page 126.— In the answer to Q. No. 3, in the tabular column for

Regulation of Pay and NOTE 1, the figures ` 53,600 and ` 53,600 +
5,360 wherever they occur may be substituted by ` 52,000 and
` 52,000 + 5,200 respectively.

Page 127.— In the calculation for Pension Contribution, the

following may be substituted against the corresponding period—
Pension Contribution
Pay in Pay Matrix
Period Length at the time of Rate
of proceeding on Rate per Months Amount
service Foreign Service / % month
on pro forma
promotion
` ` `
15-12-2018 20-21 52,000 16 8,320 17 4,563
31-12-2018 31

1-1-2019 20-21 52,000 16 8,320 3 24,960

31-3-2019
1-4-2019 20-21 52,000 16 8,320 14 3,883
14-4-2019 30

15-4-2019
4-5-2019 Leave — No Contribution
5-5-2019 JT 20-21 52,000 16 8,320
12
3,221
31
16-5-2019
Total 2,52,814
 2
Page 128.— In the calculation for Leave Salary Contribution,
the following may be substituted against the corresponding period—

Leave Salary Contribution

Period Pay drawn in FS Rate Monthly rate Months Amount
` % ` `
1-7-2016 52,360 11 5,760 12 69,120
30-6-2017
1-7-2017 53,900 11 5,929 12 71,148
30-6-2018
1-7-2018 55,550 11 6,111 5 14 33,315
14-12-2018 31

15-12-2018 57,200 11 6,292

17
31 3,450
31-12-2018
1-1-2019 57,200 11 6,292 3 18,876
31-3-2019
1-4-2019 57,200 11 6,292
14
2,936
30
14-4-2019
15-4-2019 EL — No Contribution
4-5-2019
5-5-2019 JT 57,200 11 6,292 12
2,436
16-5-2019 31

Total 2,11,247
Total amount of contributions recoverable:
Pension Contribution ... ... 2,52,814
Leave Salary Contribution ... ... 2,11,247
Total 4,64,061

4. Page 130.— In the answer to Q. No. 4 in the tabular column for

Regulation of Pay, for the period 1-7-2017 to 30-6-2018, the
following may be substituted–
` ` `
1-7-2017
44,900 53,100 53,100 + 2,655
31-12-2017
1-1-2018
44,900 54,700 54,700 + 2,735
30-6-2018

In Pension Contribution calculation, the figures ` 5,663 and

` 16,989 may be read as ` 5,668 and ` 17,004 respectively.
 3
In the calculation for Pension Contribution, the following may be
substituted against the corresponding period—
Pension Contribution
Pay in Pay Matrix
Period Length at the time of Rate
of proceeding on Rate per Months Amount
service Foreign Service / month
on pro forma
promotion
Yrs. ` % ` `
1-6-2017 15-16 53,100 13 6,903 7 48,321
31-12-2017
1-1-2018 15-16 54,700 13 7,111 5 35,555
31-5-2018
1-6-2018 16-17 54,700 14 7,658 2 30
22,727
30-8-2018 31

Total 1,73,520

Page 131.— In the calculation for Leave Salary Contribution,

the following may be substituted against the corresponding period—

Leave Salary Contribution

Period Pay drawn in FS Rate Monthly rate Months Amount
` % ` `
1-6-2017
31-12-2017 55,755 11 6,133 7 42,931
1-1-2018 57,435 11 6,318 7 31
30
50,340
30-8-2018
Total 1,55,728

Total amount of contributions recoverable: `

Pension Contribution ... ... ... 1,73,520
Leave Salary Contribution ... ... 1,55,728
Total 3,29,248

5. Page 157.— Illustration 9, in the question, the date 1-4-2016 for

appointment in Level 10 may be read as 1-4-2017 and the date of
completion of probation may be read as 1-4-2019.
 4
The answer may be substituted as under—
Period TES, Group ‘B’ TES, Group ‘A’
Substantive Pay Level 10
Pay Level 8
1-7-2016 ` 60,400 ...
31-3-2017
1-4-2017 ` 60,400 ` 56,100
30-6-2017 Entry Pay vide Section II
of CCS (RP) Rules, 2016
1-7-2017 ` 62,200 ”
30-6-2018
1-7-2018 ` 64,100 ”
31-3-2019
1-4-2019 ... ` 67,000
FR 22 (I) (a) (i) and Rule 13 (i)
of CCS (RP) Rules, 2016
6. Page 181.— In PRACTICAL QUESTIONS, Q. No. 1, the Pay on
15-3-2017 in the promoted post is to be read as ‘` 91,400’.
7. Page 181.— In Q. No. 2, the figure ` 24,500 is to be read as
` 30,200. The answer may be substituted as under—
Period Pay Level 2 Pay Level 4
of permanent post of higher post
` `
1-11-2016 (30,200) 31,400
30-6-2017
1-7-2017 (31,100) 33,300
31-10-2017
1-11-2017
30-4-2018 (31,100)
1-5-2018 (31,100) 33,300
8. Page Nos. 183 and 184.— In Q. No. 5, the words and date ‘DNI
1-7-2019’ to be read as ‘DNI 1-7-2018’.
9. Page 189.— In Q. No. 13, the words ‘Level 9’ to be read as ‘Level
8’ and ‘Level 8’ to be read as ‘Level 9’.
10. Page 207.— In the first Para. the figure ‘2006’ to be read as ‘2016’.
11. Page Nos. 213 and 214.— In Illustration No. 3, the date
‘1-6-2015’ may be read as ‘1-7-2015’ and the figure ‘` 19,530’ may
be read as ‘` 19,590’. The year 2006 of CCS (RP) Rules may also
be substituted by 2016.
12. Page 215.— In the NOTE below answer to Illustration No. 4, the
date ‘1-7-2017’ may be read as 1-1-2017.
SwamysnewS 121 August, 2016

To the Editor
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Shri D.G. Chaskar, Asst. Director Postal Services (Rectt.)
O/o. the Chief Postmaster-General, Maharashtra Circle, Mumbai - 400 001
R/Sir,
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February, 2019

Correction to Swamy’s Books

Swamy’s Pension Rules Made Easy
Cat. No. G-2 — (Thirty-ninth Edition)

Chapter 15 — Solved Problems.—

Page 198.— In Ans. to Problem 14, the date ‘30-6-2019’ may be read
as ‘20-6-2019’.