Hai,
I given my Sisters dec mnth salary sip Form16 summary. Inthis can anyone tell how much is my Taxable income.
Form 16 Summary:
------------------
Gross Salary - 2,97,438.66
Exemption U/S 10 - 58,547.84
Balance - 2,38,890.82
Empmnt Tax (pro Tax) - 1,095.00
Aggrg Deduction - 1,095.00
Incm under Hd Salary - 2,37,795.82
Gross Total Income - 2,37,795.82
Agg of Chapter VI - 1,00,000.00
Total Income - 1,37,800.00.
In this I planned to give HRA Rs.7,500.00 as her actual HRA is 8,500/ mnt and also she is paying 8,000 Rs per mnth as rent in metro. After that how much amount she need to invest in any of the insurence premiums. Pls tell me quickly. B'cause she has to report it within couple of days.( Basic Pay is Rs.10,050 Pf deduction is Rs.1206 per mnth.)
From India, Delhi
I given my Sisters dec mnth salary sip Form16 summary. Inthis can anyone tell how much is my Taxable income.
Form 16 Summary:
------------------
Gross Salary - 2,97,438.66
Exemption U/S 10 - 58,547.84
Balance - 2,38,890.82
Empmnt Tax (pro Tax) - 1,095.00
Aggrg Deduction - 1,095.00
Incm under Hd Salary - 2,37,795.82
Gross Total Income - 2,37,795.82
Agg of Chapter VI - 1,00,000.00
Total Income - 1,37,800.00.
In this I planned to give HRA Rs.7,500.00 as her actual HRA is 8,500/ mnt and also she is paying 8,000 Rs per mnth as rent in metro. After that how much amount she need to invest in any of the insurence premiums. Pls tell me quickly. B'cause she has to report it within couple of days.( Basic Pay is Rs.10,050 Pf deduction is Rs.1206 per mnth.)
From India, Delhi
604
Hi Pradeep,
I think this is projected calculation till March 2011, and the deduction u/s 10 & chapter VI A also may be declared amount. Please confirm Agg of Chapter VI - 1,00,000.00 is a declared amount of investment, if so, what is the actual investment she have. If she do not have any investment, then PF (1206*12 = 14472) will be the actual amount under Chapter VIA, then the gross taxable income will increase. ie , it will be 237796-14472 = 223324( 10% tax) ie 3332 + education cess(3%) = 100
So total tax will be 3432/- .
The actual calculation can be given once you give clarification on actual investment
Regards
Siji
From India, Mumbai
I think this is projected calculation till March 2011, and the deduction u/s 10 & chapter VI A also may be declared amount. Please confirm Agg of Chapter VI - 1,00,000.00 is a declared amount of investment, if so, what is the actual investment she have. If she do not have any investment, then PF (1206*12 = 14472) will be the actual amount under Chapter VIA, then the gross taxable income will increase. ie , it will be 237796-14472 = 223324( 10% tax) ie 3332 + education cess(3%) = 100
So total tax will be 3432/- .
The actual calculation can be given once you give clarification on actual investment
Regards
Siji
From India, Mumbai
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
How career plans drive business.doc
96-05--Investme nt+in+Productiv ity.pdf
INVESTMENT 2009-2010.zip