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  • Tax Computation

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    Ayaan Zai
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    This document contains the tax computation for employee Abhijeet Singh for the month of May 2022. It lists the employee's earnings including basic salary, HRA, conveyance allowance and other allowances. It then calculates the taxable income after exemptions under section 80C and deductions. The total tax payable is INR 42,213 and the tax processed for the current month is INR 16,849.

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    This document contains the tax computation for employee Abhijeet Singh for the month of May 2022. It lists the employee's earnings including basic salary, HRA, conveyance allowance and other allowances. It then calculates the taxable income after exemptions under section 80C and deductions. The total tax payable is INR 42,213 and the tax processed for the current month is INR 16,849.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Download as pdf or txt
    39 views1 page

    Tax Computation

    Uploaded by

    Ayaan Zai
    This document contains the tax computation for employee Abhijeet Singh for the month of May 2022. It lists the employee's earnings including basic salary, HRA, conveyance allowance and other allowances. It then calculates the taxable income after exemptions under section 80C and deductions. The total tax payable is INR 42,213 and the tax processed for the current month is INR 16,849.

    Copyright:

    © All Rights Reserved
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    Tax Computation For the Month of 31-May-2022

    Employee Code 112551984 Employee Name Abhijeet Singh


    Location DOJ 16/05/2022
    Tax Regime Applied

    Amounts are in INR


    PARTICULARS TOTAL

    I EARNINGS
    BASIC 306724

    HRA 153357

    CONVEYANCE 16826

    SPECIAL ALLOWANCE 19528

    LTA 63896

    MEDICAL 13145

    TRANSPORT ALLOWANCE 42065

    ANNUAL RELOCATION DOMESTIC 75000

    ANNUAL MEAL 21032

    GROSS INCOME 711573

    II LESS : EXEMPT U/S 10


    SALARY AFTER SEC.10
    III LESS : DEDUCTIONS U/S 16
    TAX ON EMPLOYMENT 2200

    STANDARD DEDUCTION 50000

    SALARY AFTER SEC16 659373

    IV OTHER INCOME REPORTED BY EMPLOYEE


    TAXABLE SALARY 659373

    V DEDUCTIONS UNDER CHAPTER VIA


    (A) SECTION 80C
    PF 18929

    TOTAL INVESTMENTS 18929

    REBATE 18929

    (B) OTHER DEDUCTIONS UNDER CHAPTER VIA:


    TAXABLE INCOME 640444

    TAX AFTER REBATE 40589

    CESS 1624

    TOTAL TAX 42213

    NET TAX PAYABLE 42213

    CURRENT MONTH PROCESS IT 16849

    HRA EXEMPTION COMPUTATION


    RENTLESS10BASIC -30672

    HRA PAID 153357

    ** This is a computer generated tax computation sheet and does not require signature and stamp.

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