Viraj Wijeratne

Year of Assessment 2022/2023

Estimated Income Tax computation
TIN: 102971736
First 9 months Second 3 months
Rs. Rs.
Employment Income Note 1
Salary 3,600,000 1,200,000
Inflation Incentive 1,080,000 360,000
Incentive & Exgratia Allowance 215,335 170,451
Bonus 1,525,009 -
6,420,344 1,730,451
Investment Income
Interest Income Note 2 1,418 169
Total Assessable income 6,421,762 1,730,620

Deductions-Relief
Personal relief (2,250,000) (300,000)
Expenditure relief Note 3 (288,320) -
Taxable Income 3,883,442 1,430,620

Total Tax Payable 2,250,000 @ 6% 135,000 7,500 125,000 @ 6%

1,633,442.09 @ 12% 196,013 15,000 125,000 @ 12%
22,500 125,000 @ 18%
30,000 125,000 @ 24%
37,500 125,000 @ 30%
290,023 805,620.40 @ 36%
Tax liability for Y/A 2021/2022 331,013 402,523

Total Tax Liability for Y/A 2022/23 733,536

Less: Tax Credits

APIT Note 4 (402,465)
WHT 8

Self Assessment Payments

1st Installment 52,708
2nd Installment 35,057
3rd Installment 33,644
4th installment 209,671 (331,080)

Balance Tax Payable (0)

Final Payment due 30th September 2023 (0)

Note 1 - Employment Income

Incentive & Exgratia
Salary Inflation Incentive
Allowance
Apr-22 400,000 120,000 74,049
May-22 400,000 120,000 82,998
Jun-22 400,000 120,000 22,196
Jul-22 400,000 120,000 7,541
Aug-22 400,000 120,000 13,763
Sep-22 400,000 120,000 14,788
Oct-22 400,000 120,000 -
Nov-22 400,000 120,000 -
Dec-22 400,000 120,000 -
Jan-23 400,000 120,000 56,817
Feb-23 400,000 120,000 56,817
Mar-23 400,000 120,000 56,817
4,800,000 1,440,000 385,786

Inflation and incentive for the months Nov 2022 - March 2023 are removed on clients request

Note 2 - Interest Income

Seylan Bank Gross interest WHT Net Interest

139012826654108 1458.46 7.52 1450.94
Standard Chartered
18503422901 82.88 0.51 82.37
Peoples Bank
310-2-001-8-0124332 46.15 0.44 45.71
1587.49 8.47 1579.02

9 months period
139012826654108 1308.06 - 1308.06
18503422901 72.68 - 72.68
310-2-001-8-0124332 37.35 - 37.35
1418.09 0.00 1418.09
3 months period
139012826654108 150.40 7.52 142.88
18503422901 10.20 0.51 9.69
310-2-001-8-0124332 8.80 0.44 8.36
169.40 8.47 160.93

The interest received was estimated based on the client confirmation to proceed with the 2021/22 figures

Note 3 - Expenditure Relief

Medical Insurance SLIC Ceylinco Life

Mothly 3,340 7120
Total 40,080 85,440

Education
Paid in
St Thomas - 1st term 54,600 5/4/2022
St Thomas - 2nd Term 54,100 1/6/2022
St Thomas - 3rd Term 13,525 27/9/2022
40,575 21/11/2022
162,800

Note 4 - APIT

January 134,155.00
February 134,155.00
March 134,155.00
402,465.00