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GA55A FOR THE PERIOD FROM 4/1/2019 to 3/31/2020
GPF NO 647805 NAME OF EMPLOYEE PRAVESH KUMAR SHARMA DESIGNATION ACCOUNTANT
Detail of Gross Salary Detail of Deductions
GPF STATE INS. PMF LIC MCA HBA H.F. BILL
Periods Basic D.A. HRA WA HR NET PAY BILL DATE
Total Cont SI Pre. SI INT GP PRIN PRIN MCA TOTAL NO
Pay IT
D.P. CCA Oth LOAN LOAN S. TAX INS INT INT HBA OTH
Mar-19 23930 25605 4786 0 54561 2100 3000 0 535 0 0 0 0 0 7635 46926 2 1-Apr-15
0 240 0 0 0 0 0 2000 0 0 0 0
#NAME? 23930 27041 4786 0 55997 2100 3000 0 535 0 0 0 0 0 7855 48142 55 23-Apr-15
0 240 0 0 0 0 220 2000 0 0 0 0
#NAME? 23930 27041 4786 0 55997 2100 3000 0 565 0 0 0 0 0 7665 48332 110 22-May-15
0 240 0 0 0 0 0 2000 0 0 0 0
#NAME? 23930 27041 4786 0 55997 3300 3000 0 565 0 0 0 0 0 8865 47132 149 24-Jun-15
0 240 0 0 0 0 0 2000 0 0 0 0
#NAME? 24650 27855 4930 0 57675 3300 3000 0 565 0 0 0 0 0 8865 48810 186 27-Jul-15
0 240 0 0 0 0 0 2000 0 0 0 0
#NAME? 24650 27855 4930 0 57675 3300 3000 0 565 0 0 0 0 0 9365 48310 230 24-Aug-15
0 240 0 0 0 0 0 2500 0 0 0 0
#NAME? 24650 29334 4930 0 59154 3300 3000 0 595 0 0 0 0 0 9395 49759 276 23-Sep-15
0 240 0 0 0 0 0 2500 0 0 0 0
#NAME? 24650 29334 4930 0 59154 3300 3000 0 595 0 0 0 0 0 9395 49759 319 23-Oct-15
0 240 0 0 0 0 0 2500 0 0 0 0
#NAME? 24650 29334 4930 0 59154 3300 3000 0 595 0 0 0 0 0 9395 49759
0 240 0 0 0 0 0 2500 0 0 0 0
#NAME? 24650 29334 4930 0 59154 3300 3000 0 595 0 0 0 0 0 9395 49759
0 240 0 0 0 0 0 2500 0 0 0 0
#NAME? 24650 29334 4930 0 59154 3300 3000 0 595 0 0 0 0 0 9395 49759
0 240 0 0 0 0 0 2500 0 0 0 0
#NAME? 24650 29334 4930 0 59154 3300 3000 0 595 0 0 0 0 0 9395 49759
0 240 0 0 0 0 0 2500 0 0 0 0
DA ARREAR FROM (including S.L.arrear, if any)
Jan-March 2015 4308 4308 4308 4308 0 17 17-Apr-15
July-Aug. 2015 2958 2958 2958 2958 0 283 30-Sep-15
SURRENDER LEAVE SALARY & BONUS
S. LEAVE 24768 0 24768 6 1-Apr-15
BONUS 3387 0 3387 336 2-Nov-15
OTHERS
0 0
0 0
Grant. 345708 58584 0 43266 36000 0 6900 0 0 0 0 0
292920 728247 113886 614361
Total 0 2880 0 0 0 0.00 220 27500 0 0 0 0
COUNTANT
TV
TV DATE
NO
84 1-Mar-19
6554 #NAME?
16436 #NAME?
24610 #NAME?
34038 3-Aug-15
40902 #NAME?
49880 #NAME?
60398 2-Nov-15
#NAME?
#NAME?
#NAME?
#NAME?
9966 8-May-15
55322 16-Oct-15
330 7-Apr-15
64177 6-Nov-15
Hint Instruction
Design & Prepaired by Pravesh Kumar Sharma, Accountant, please
call-9460100093 or write mail to praveshbkn@gmail.com for
further query/error/updation/suggestion
Income- General Income-Tax
Tax Calculator
Calculati (including Tax Income-Tax Calculator
I effect/Calculation of
on Section 234A,234B &
(From 234C)
Income-Tax Calculation
Fin. Year and find out Tax
1985-86 Rate/Surcharge/Cess Mini Income-Tax Calculator
to (with showing Rate/Cess
and exemption limit)
onwards Income Tax Rate
i.e. (For Individual i.e. Male/ Income-Tax Rate
2019- Female/Sr.Citizen/Very
20) Sr. Citizen)
<< Please Enable all macros before start the work for proper use
of this sheet>>
II Preparation of Form No 16
Prepration of Form No 16 (both part.. A
& B) … The format of form no 16 is tdscpc.gov.in/en/deductor-ho
desgined according to Fin. Year 2014-
15 & onwards [As per income tax
department instruction, the part A of
formInput
no 16one
will bedata
time download from
relating to
DDO (i.e. Drawing & Distribuation DDO Data
Officer) required for form no 16
Calculation of Relief u/s 89(1) from F.Y. 1985-86 & onwards (i.e.
IV upto F.Y. 2018-19)
(Please select for sheet "Main" for see how to calculate relief
amt. and what type of data requied)
Main SECTION 89(1) TABLE A FORM 10E
1 Prepration of form no 16 (both part ) based on "Employee data" (upto 500 employee)---
[The format of form no 16 is designed according to F.Year 2014-15 & onwards]
Determination of Tax Calculation including tax treatment of section 234B & 234C …" Tax Calculator" and Tax
2 Rate chart for last 34 years
6 View/find out TDS rate since f.y. 2008-09 & onwards + view various password required for e-return
7 View/find out TCS rate since f.y. 2012-13 & onwards
8 View/find out various information relating to F.Y. 2017-18 to 2019-20
Use only unhighlight cells (i.e. white cells) for correct calculation -->
<<---Other cells are linked with master sheets so no need to fill any data in highlighted cells--->>
ta. Select proper
rate
onwards)
r e-return
ted cells--->>
Go to Employee Data Form no 16
DDO(Drawing and Disbursing Officer) DATA FOR FORM NO 16
NAME OF OFFICE SAMPLE OFFICE
TAX A/C & PAN (If have) OF DEDUCTOR TAX A/C (i.e. TAN) JDHO12345E
NUMBER
AUTHORITY FOR SIGNATURE ABCD
1
2
3
4
5
6
7
8
9
10
11
12
Home
OR FORM NO 16
PAN PANNOTREQD
Male
R 2019-20
ook Identification Number (BIN)
Date of TV Status of
matching with
form no 24G
Matched
Matched
Matched
Matched
Matched Click here for clear BIN data
Matched
Matched
Matched
Matched
Matched
Matched
Matched
LAN
gh challan no 281)
Status of
AMT matching with
OLTAS
Matched
Home
Home
DDO Data
Employee Employee Name Desgination
Code/S.N.
Financial Year
647805 PRAVESH KUMAR ACCOUNTANT
SHARMA
Gross Salary'
1
Form no 16
Tax Calculator
End line End line
End line End line End line
Home
Form no 16
PAN of employee Employee Tax Category Period for Form No 16
referece
provided by
employer (if
if your cell formatting not any)
o not work properly in row 6,then
ata to input copy cell G6 and paste it & From To
work
A.Y. 2020-21
2019-20
BEPPS1234Q 1234 VERY SENIOR CITIZ 4/1/2019 3/31/2020
BEPPS1234Q 1234 MALE
End line End line End line End line End line
Home
Statement
Status (1)Gross Salary
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End line End line End line
End line End line End line
Form no 16
(2) Less : Allowance to the extent exempt under section 10
10 20 30 40 50 60 70
End line End line End line End line End line End line End line
Home
Statement
(3) Balance (4) Deduction u/s 16 & 17
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End line End line End line End line End line 0
Home
Statement
Form no 16
(6) Income (7) Add : Any other income reported by the employee u/s 192(2B) (8) Total
chargable under amount of
the head other
"Salaries" NSC Bank Intrest (Loss) Intrest Income from Any other income
INTREST on Saving on House pension income reported
Loan Intrest by the
employee
4949921 1 2 3 4 5 9
20000100 0
0 0
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0 0
0 0
End line End line End line End line End line End line End line
Home
DDO Data
Form no 16
(9) Gross Total (10) Deductions under chapter VI A
Income (Find out Maximum Limit of particular section… go to sheet "Tax Calc
(a) U/S 80 CCE -: Invesment in specified investment plans
Employee State Group Life Accured Tution Repay Hazard
Privided Insurance Insurance Insurance Intrest Fee ment of Fund
Fund(EPF) Premium on NSC HBA
4949930 1 2 3 4 5 6 7 8
20000100
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0
End line End line End line End line End line End line End End line End line
line
Home
Statement
Form no 16
o sheet "Tax Calculation"
(b) Cont. in
Purchases PPF PLI / IDBI/ICCI BANK Equity Sukanya Any pension fund
of NSC ULIP FD/POST link Samriddhi other (Section
OFFICE FD saving Account ded. u/s 80 CCC)
bond Deposit 80C
Scheme
(ix) (x) (xi) (xii) (xiii) (xiv) (xv) (xvi) Upto 150000
9 10 11 12 13 14 15 16 17
End line End line End line End line End line End End line End line End line
line
Home
Statement DDO Data
(c )Employee Aggregate total of Other sections ( for e.g., 80E, 80G etc. ) under chapter VIA
cont. towards section Employer cont. Additional Investment Medical
new pension 80C,80CCC,80CCD towards new contribution in long term ins.
scheme U/S 80 (u/s 80 CCE) pension scheme towards NPS infrasturture premium
CCD(1) (Upto Rs. 50000 bonds
from F.Y. 15-16)
Upto 150000 (a+b+c) U/S 80 CCD(2) U/S 80 CCD(1B) U/S 80CCF U/S 80D-
0
0
0
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0
End line End line End line End line End line End line
Form no 16
apter VIA
Medical treat. of Spl ded.to the Repayment Intrest paid on Deduction in
dependent guardion of a of loan for HBA(Loan taking respect of interest
handicapped person patient higher after01-04-13 on loan taken for
suff.from education excluding u/s 24B) certain house
Cancer/Aids property
Select Types U/S 80DD- U/S 80DDB- U/S 80E- U/S 80EE U/S 80EEA
Deduction in Donation . New Rajiv Exempt Interest income Phy. hand. person or blind
respect of 50% and Gandhi -Intrest earned on Fixed person
purchase of 100% Saving from saving Deposits &
Recurring
electric vehicle Scheme bank Deposits
U/S 80EEB U/S 80G- U/S 80CCG U/S 80TTA U/S 80TTB Select Types U/S 80U-
24QI 24QII
250000 3903171 0 10 20 30 40
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0 82999
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End line #VALUE! 0
Home
DDO Data
Form no 16
Tax deducted through salary
Salary month enchasment based
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
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0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
End line End line End line End line
Home
Statement Form no 16
Tax amount depoisted into Bank through challan no 281 (i.e. TAN based)
May-19
Nov-19
Aug-19
Dec-19
Sep-19
Apr-19
Oct-19
Jun-19
Jan-20
Jul-19
20 0 0 0 0 0 0 0 0 0
DDO Data
ased)
Mar-20
Feb-20
Form no 16
0 0
Home
Statement
0
INCOME TAX CALCULATION FOR THE Fin. Year 2019-20
0
0
tion)
Rs. 20,000,100
Rs. 50,000
Rs. -
Rs. 20,050,100
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
Rs. 20,050,100
Rs. 50,000
Rs. -
Rs. -
Rs. 50,000
Rs. 20,000,100
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
Rs. 20,000,100
Rs. -
Rs. -
Rs. -
0
0
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
0
0
Gross Amount Deductible
Amount
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. - Rs -
Rs. 20,000,100
Rs. 5,812,530
Rs. -
Rs. 871,945
Rs. 267,379
Rs. 6,951,854
Rs. -
Rs. 6,951,854
AMT
Rs. -
Rs. -
Rs. -
Rs. - Rs. -
Rs. 6,951,850
0
0
SIGNATURE OF EMPLOYEE
CIT (TDS)
Assessment Year Period with the E
Address: From
I. DETAILS OF TAX DEDUCTED AND DEPOSITED IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH ADJ
(The deductor to provide payment wise details of tax deducted and deposited with respect to the ded
Tax Deposited in Book identification number (BIN)
respect of the
S. deductee(Rs.)
No. Receipt numbers of Form DDO serial number in Date of transfer voucher
No.24 G Form No 24G (dd/mm/yyyy)
01
02
03
04
05
06
07
08
16.18.1.22.5.19.8√97263.0458756048 282
09
10
11
12
TOTAL Rs. -
16.18.1.22.5.19.8√97263.0458756048 283
Certificate No. TAN of employer Rs. - PAN of employee Rs. -
II. DETAILS OF TAX DEDUCTED AND DEPOSITED IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH
(The deductor to provide payment wise details of tax deducted and deposited with respect to the deduct
1
2
3
4
5
6
7
8
9
10
11
12
Total -
Verification
I son of working in
do hearby certif
has been deducte
and paid to the credit of the Central Government. I further certify that the information given above is true a
on the books of account, documents and available records
Place :
Date : (Signature of the person responsible for d
16.18.1.22.5.19.8√97263.0458756048 284
Certificate No. TAN of employer Rs. - PAN of employee Rs. -
PART B (Annexure)
Details of Salary Paid and any other income and tax deducted
1 Gross Salary
(a) Salary as per provisons contained in sec 17(1)
Value of perquisites u/s 17(2)
(b)
(as per Form No. 12BA, wherever applicable)
Profits in lieu of salary under section 17(3)
(c )
(as per Form No.12BA, wherever applicable)
(d) Total
(e) Reported total amount of salary received from other employer(s)
2 Less : Allowance to the extent exempt under section 10
(a) Travel concession or assistance u/s 10(5)
(b) Death-cum-retirement gratuity u/s 10(10)
(c ) Commuted value of pension u/s 10(10A)
Cash equivlent of leave salary encashment u/s
(d) 10(10AA)
(e) House rent allowance u/s 10(13 A)
(f) Conv Allow under Section 10(14)
(g) Other Allowances exempt u/s 10
(h) Total amount of exemption claimd u/s 10
Total amount of salary received from current
3 employer [1(d)-2(h)]
4 Less :Deductions under section 16
(a) Standard Deducation (u/s 16ia)
(b) Entertainment Allowance u/s 16(ii)
(c.) Tax on Employment u/s 16(iii)
Total amount of deductions u/s 16
5 [ 4(a)+ (b) + (c )]
6 Income chargable under the head Salaries [3+1(e)-5]
7 Add : Any other income reported by the employee
(a) NSC Intrest
(b) Bank Intrest on Saving
(c ) HBA INTREST (loss)
(d) Income from pension
(e) Any other income
8 Total amount of other income reported by the employee
9 GROSS TOTAL INCOME ( 6 + 8 )
10 Deductions under chapter VI A
A. Sections 80C, 80CCC & 80CCD
a. Section 80 C Gross Amount
i. Genral Provided Fund
ii. State Insurance & Service Tax
iii Group Insurance
iv. Life Insurance Premium
v. Accured Intrest on NSC
16.18.1.22.5.19.8√97263.0458756048 285
vi. Tution Fee
vii Repayment of HBA
viii Hazard Fund
ix Purchases of NSC
x PPF
xi PLI / ULIP
xii IDBI/ICCI
16.18.1.22.5.19.8√97263.0458756048 286
xiii BANK FD/POST OFFICE FD
xiv Equity link saving bond
xv Sukanya Samriddhi Account Deposit Scheme
xvi Any other ded. u/s 80C
b. Section 80 CCC
c. Section 80 CCD (1)
Aggregate total of section 80C,80CCC,80CCD (u/s 80 CCE)
Note : 1. aggregate amount deductible under section 80C shall not exceed one lakh rupees
2. aggregate amount deductible under the three sections,i.e., 80C, 80CCC & 80CCD (1), shall not exceed one lakh fifty thousan
Qualifying
B. Other sections ( for e.g., 80E, 80G etc. ) under chapter VIA Gross Amount Amount
a. U/S 80CCD(2) Employer cont. towards new pension scheme
U/S 80 CCD(1B)
Additional cont. towards NPS (Upto Rs. 50000 )from
F.Y. 2015-16)
b. U/S 80CCF Investment in long term infrasturture bonds
Medical ins. premium for himself, spous and childrens
c. U/S 80D- & Parents
d. U/S 80DD- Medical treat. of dependent handicapped person
Spl ded.to the guardion of a patient suff.from
e. U/S 80DDB- Cancer/Aids
f. U/S 80E- Repayment of loan for higher education
Intrest paid on HBA(Loan taking after01-04-13
g. U/S 80EE- excluding u/s 24B)
Deduction in respect of interest on loan taken for
h. U/S 80EEA- certain house property
i. U/S 80EEB- Deduction in respect of purchase of electric vehicle
j. U/S 80G- Donation . 50% and 100%
k. U/S 80CCG- New Rajiv Gandhi Saving Scheme
l. U/S 80TTA- Interest on deposits in savings account
Interest income earned on Saving/ Fixed Deposits &
m. U/S 80TTB- Recurring Deposits
n. U/S 80U- Phy. hand. person or blind person
o. (Any other deduction..Give name)
11 Aggregate of deductible amounts under Chapter VI-A
12 Total Income ( 9 - 11 ) (Rounded off u/s 288A)
13 Tax on total income
14 Rebate under section 87A, if applicable
15 Surcharge,whenever applicable (on tax computed at S.No. 13)
Add -Health and Education Cess & 4%
16
(on tax computed at S.No.13 + surcharge at S.No. 15)
17 Tax payable ( 13+15+16-14 )
18 Less: Releif under section 89 (attach details)
19 Tax Payable ( 17-18 )
Verification
16.18.1.22.5.19.8√97263.0458756048 287
I son of working in
do hearby ce
information given above is true and correct and is based on the books of account, documents ,TDS statements, a
records
Place :
Date : (Signature of the person responsible for d
16.18.1.22.5.19.8√97263.0458756048 288
1
FORM 16
[See rule 31(1)(a)]
PART A
e Income-tax Act,1961 for tax deducted at source Salary
To
Amount of tax
deposited/remitted
(Rs.)
16.18.1.22.5.19.8√97263.0458756048 289
16.18.1.22.5.19.8√97263.0458756048 290
A.YEAR Rs. -
Verification
working in the capacity of
do hearby certify that a sum of
has been deducted at source
further certify that the information given above is true and correct based
rds
16.18.1.22.5.19.8√97263.0458756048 291
A.YEAR Rs. -
PART B (Annexure)
d and any other income and tax deducted
Deductible
Gross Amount Amount
16.18.1.22.5.19.8√97263.0458756048 292
16.18.1.22.5.19.8√97263.0458756048 293
not exceed one lakh rupees
s,i.e., 80C, 80CCC & 80CCD (1), shall not exceed one lakh fifty thousand rupees
A.YEAR Rs. -
Qualifying Deductible
Amount Amount
Verification
16.18.1.22.5.19.8√97263.0458756048 294
working in the capacity of
do hearby certify that the
ed on the books of account, documents ,TDS statements, and available
16.18.1.22.5.19.8√97263.0458756048 295
Financial 2018-19 Tax Category MALE Asst.Year 2019-20
Year
Input value for find out Gross Total Income for Financial Year 2018-1
I-Income from Salary
1 Salary as per provisons contained in sec 17(1) {sum of i+ii+iii}
(i) Salary (Basic Pay + Grade Pay+DA+D.P. if any)
(ii) Taxable Allowances
(iii) Employer's contribution in New Pension Scheme(NPS)
2 Value of perquisites u/s 17(2) (as per Form No. 12BA, wherever applicable)
3 Profits in lieu of salary under section 17(3)(as per Form No. 12BB, wherever applicab
4 Less: Allowance to the extent exempt U/s 10 {sum of 4 (i+ii+iii+iv+v)}
(i) House Rent Allowance Select City Type Non Metro
u/s 10(13A) Acutal Amount of HRA Received Rs
HRA Paid Rs
(ii) Transport Allowances Max. Limit Rs. 3200 per month
Rs - Handicapp
(iii) Education Allowances Max. Limit Rs. 100 per month
Rs - One Childe
(iv) Hostel Exp. Allowances Max. Limit Rs. 300 per month
Rs - One Childe
(v) Any Other Exempted Receipts/ Allowances u/s 10(14) Exempt to the extent of exp. incurred
5 Less : Deduction from Salary u/s 16 {sum of 5(i+ii)}
(i) allowed Applicable from F.Y. 2018-19 fo
Standard Deduction -u/s Salaried & Pensioner
16(ia)
(ii) Max. Limit Rs. 5000
Rs - Govt. Emplo
Entertainment
Allowances-u/s 16(ii) Least of (a) Rs 5,000,(b) 1/5th of salary ,(c) Actual received amt.
(iii) Employment Tax / Amt. actually paid during the year is deductible. .. if professional tax is pa
Professional Tax. -u/s employer on behalf of its employee than it is first included in the salary of
16(iii) employee as a perquisite and then same amt. is allowed as deduction.
U/S 80D- Medical ins. premium for Parents (dependent or not)- Parents (dependent or
himself, spous and Above sixty years not)-Above sixty years
childrens & Parents (only
two condition applied)
Total deduction allowed Rs.
100000 for F.Y. 2018-19
Rs 250,000 Rs 250,000
U/S 80DD- Medical treatment of dependent Maxi. allow limit in case of Severe
handicapped person Severe disability Rs. 125000 disability
U/S 80DDB- Spl ded to the guardion of a patient 40000 (Maximum aggregate allowable
suff.from Cancer/Aids limit)
U/S 80EEA Deduction in respect of interest on 150000 Maxi. allowable limit, Applicable
loan taken for certain house property from f.y. 2019-20,)
U/S 80EEB Deduction in respect of purchase of 150000 Maxi. allowable limit, Applicable
electric vehicle from f.y. 2019-20,)
U/S 80G- Donation to certain funds, charitable 100 /50 % or 10 percent of 100%
institutions etc. the Gross Total Income
80GG Deduction in respect of rent paid 60000 (When HRA not received)
U/S 80CCG Investment made under 25000 (50% of Investment & GTI does not
an Equity savings exceed Rs. 12 lakhs)
scheme/ Equity oriented
U/S 80TTA fund 10000 (Maxi. Rs 10,000 or actual interest
Interest on deposits in savings account whichever is lower )
(w.e.f. 2012-13)
U/S 80TTB Interest income earned on Saving/
Fixed Deposits & Recurring Deposits N.A. (Intrrest on FD & Recurring Deposits
(w.e.f. 2018-19) i.e.Banks / Post office schemes)
Others
<Any other deduction… not covered in
above list>
Others
<Any other deduction… not covered in
above list>
Total Deduction under Chapter VI-A
Taxable Income
Taxable Income (Round. off)
Tax Due
Surcharge (if any) ( Marginal relief-Not Applicable )
Less-Rebate U/S 87A (From F.Y. 2013-14) , if applicable
Health and Education Cess & 4%
Total Tax Liability
Tax deduction at source (monthwise tax deducted/deposited from salary)
Apr-18 Rs 116,310 Jul-18 Rs - Oct-18 Rs - Jan-19
May-18 Rs 3,581 Aug-18 Rs - Nov-18 Rs - Feb-19
Jun-18 Rs - Sep-18 Rs - Dec-18 Rs - Mar-19
Less-Relief u/s 89(1)… if any
Net Tax payable ( Rupees Seven Hundred FiftyNine Only )
Calculation of Intrest u/s 234A,234B & 234C
Section Content of section
For 234 A Due Date of Filing the Return
Acutal Date of filing the Return /Date completion of assessment u/s 144
For 234B and Due Date (last date of selected F.Year)
234 C Date of Determination of Income U/s 143(1)
Calculation of Intrest u/s 234A
Due Date of return Date of filing return Delay periods (months) Tax due am
31-Jul-20 12-Aug-20 1 Rs
Calculation of intrest due u/s 234B (when intrest due u/s 234C paid after
Due Date of return Date of filing return Delay periods (months) Tax due am
31-Mar-2019 12-Aug-20 17 Rs
Calculaton of Advance tax and Int. u/s 234C
Date upto Adv tax due Act. Tax paid Shortage t
15-Jun-2018 Rs 18,098 Rs 119,891 Rs (
15-Sep-2018 Rs 54,293 Rs 119,891 Rs
(1+2+3-4-5) Rs 1,178,205
ceivable Rs -
Rs -
Rs -
Page 302 of 760
Age condition (below 60 years)
Rs -
Rs 150,000 Rs 150,000
Rs - Rs -
Rs - Rs -
Rs 150,000 Rs 150,000
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Page 304 of 760
Age condition (below 60 years)
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs 200,000 Rs 10,000
Rs 500,000 Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs 160,000
Rs 1,011,703
Rs 1,011,700
Rs 116,010
ble ) Rs -
Rs -
Rs 4,640
Rs 120,650
sited from salary)
Rs - Rs 119,891
Rs -
Rs -
Rs -
yNine Only ) Rs 759
ntrest u/s 234A,234B & 234C
Date Condition
31-Jul-20
12-Aug-20 Yes
31-Mar-2019 Yes
12-Aug-20 Yes
on of Intrest u/s 234A
Tax due amt Intrest u/s 234A
Rs 700 Rs 7
when intrest due u/s 234C paid after 31-Mar-2019 )
Tax due amt Intrest u/s 234B
Rs 700 Rs -
ax and Int. u/s 234C Rs 120,650
Shortage tax Int u/s 234C
Rs (101,793) 0
Rs (65,598) 0
Rs (29,403) 0
Rs 759 7
Rs - Rs -
Rs 700 Rs 7
Rs -
No Advance Tax Liability raised due to total tax Rs -
payable is less than Rs. 10,000 in a year Rs -
Rs -
Rs 759
Rupees Seven Hundred FiftyNine Only
what will be total tax liability and effect of section 234A/B/C, on the
1
6.98%
Rs 24,247.74
Rs 74,247.74
In year 6
In Days 2192
Rs 1,004,073
Rs 386,073
120 Months
Home
CATEGORY VERY SENIOR CITIZEN Use this cell for Employee code/ID
Form No 16
FORM 16
[See rule 31(1)(a)]
PART A
Certificate under section 203 of the Income-tax Act,1961 for tax deducted at source Salary
Certificate No. Last updated on
Name and Address of Employer Name and Designation of Employ
ABCD
SAMPLE OFFICE
PQR
PAN of the Employee Reference No.
PAN of Deductor TAN of the Deductor Employee Employer (If ava
PANNOTREQD JDHT12345Q AEPPS1234Q 9964
CIT (TDS)
Assessment Year Period with the E
Address: From
2020-21
01/04/2019 31
City: Pin Code
Summary of amount paid/credited and tax deducted at sourcethereon in respect of employe
Receipt Numbers of original quarterly
Amount of Amount of tax
Quarter statements of TDS under sub-section (3) paid/credited deducted (Rs.)
of section 200
Quarter 1 Rs. - Rs -
Quarter 2 Rs. - Rs -
Quarter 3 Rs. - Rs -
Quarter 4 Rs. - Rs -
Total (Rs.) Rs. - Rs. -
I. DETAILS OF TAX DEDUCTED AND DEPOSITED IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH ADJ
(The deductor to provide payment wise details of tax deducted and deposited with respect to the ded
Tax Deposited in Book identification number (BIN)
respect of the
S. deductee(Rs.)
No. Receipt numbers of Form DDO serial number in Date of transfer voucher
No.24 G Form No 24G (dd/mm/yyyy)
01 Rs -
02 Rs -
03 Rs -
04 Rs -
05 Rs -
06 Rs -
07 Rs -
08 Rs -
16.18.1.22.5.19.8√97263.0458756048 313
09 Rs -
10 Rs -
11 Rs -
12 Rs -
TOTAL Rs. -
16.18.1.22.5.19.8√97263.0458756048 314
Certificate No. TAN of employer JDHT12345Q PAN of employee AEPPS1234Q
II. DETAILS OF TAX DEDUCTED AND DEPOSITED IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH
(The deductor to provide payment wise details of tax deducted and deposited with respect to the deduct
1 Rs -
2 Rs -
3 Rs -
4 Rs -
5 Rs -
6 Rs -
7 Rs -
8 Rs -
9 Rs -
10 Rs -
11 Rs -
12 Rs -
Total -
Verification
I MNPQ son of STUV working in
TR OFFICER do hearby certif
NIL 0 has been deducte
and paid to the credit of the Central Government. I further certify that the information given above is true a
on the books of account, documents and available records
Place :
Date : (Signature of the person responsible for d
16.18.1.22.5.19.8√97263.0458756048 315
Certificate No. TAN of employer JDHT12345Q PAN of employee AEPPS1234Q
PART B (Annexure)
Details of Salary Paid and any other income and tax deducted
1 Gross Salary
(a) Salary as per provisons contained in sec 17(1) Rs. 4,500,000
Value of perquisites u/s 17(2) Rs. -
(b)
(as per Form No. 12BA, wherever applicable)
Profits in lieu of salary under section 17(3) Rs. -
(c )
(as per Form No.12BA, wherever applicable)
(d) Total Rs. 4,500,000
(e) Reported total amount of salary received from other employer(s) Rs. -
2 Less : Allowance to the extent exempt under section 10
(a) Travel concession or assistance u/s 10(5) Rs -
(b) Death-cum-retirement gratuity u/s 10(10) Rs -
(c ) Commuted value of pension u/s 10(10A) Rs -
Cash equivlent of leave salary encashment u/s
(d) 10(10AA)
Rs -
(e) House rent allowance u/s 10(13 A) Rs -
(f) Conv Allow under Section 10(14) Rs -
(g) Other Allowances exempt u/s 10 Rs -
(h) Total amount of exemption claimd u/s 10 Rs. -
3 Total amount of salary received from current Rs. 4,500,000
employer [1(d)-2(h)]
4 Less :Deductions under section 16
(a) Standard Deducation (u/s 16ia) Rs. 40,000
(b) Entertainment Allowance u/s 16(ii) Rs -
(c.) Tax on Employment u/s 16(iii) Rs -
Total amount of deductions u/s 16
5 [ 4(a)+ (b) + (c )]
Rs. 40,000
6 Income chargable under the head Salaries [3+1(e)-5]
7 Add : Any other income reported by the employee
(a) NSC Intrest Rs -
(b) Bank Intrest on Saving Rs -
(c ) HBA INTREST (loss) Rs -
(d) Income from pension Rs -
(e) Any other income Rs -
8 Total amount of other income reported by the employee Rs -
9 GROSS TOTAL INCOME ( 6 + 8 )
10 Deductions under chapter VI A
A. Sections 80C, 80CCC & 80CCD
a. Section 80 C Gross Amount
i. Genral Provided Fund Rs -
ii. State Insurance & Service Tax Rs -
iii Group Insurance Rs -
iv. Life Insurance Premium Rs -
v. Accured Intrest on NSC Rs -
vi. Tution Fee Rs -
16.18.1.22.5.19.8√97263.0458756048 316
vii Repayment of HBA Rs -
viii Hazard Fund Rs -
ix Purchases of NSC Rs -
x PPF Rs -
xi PLI / ULIP Rs -
xii IDBI/ICCI Rs -
16.18.1.22.5.19.8√97263.0458756048 317
xiii BANK FD/POST OFFICE FD Rs -
xiv Equity link saving bond Rs -
xv Sukanya Samriddhi Account Deposit Scheme Rs -
xvi Any other ded. u/s 80C Rs -
b. Section 80 CCC Rs -
c. Section 80 CCD (1) Rs -
Aggregate total of section 80C,80CCC,80CCD (u/s 80 CCE) Rs -
Note : 1. aggregate amount deductible under section 80C shall not exceed one lakh rupees
2. aggregate amount deductible under the three sections,i.e., 80C, 80CCC & 80CCD (1), shall not exceed one lakh fifty thousan
Qualifying
B. Other sections ( for e.g., 80E, 80G etc. ) under chapter VIA Gross Amount
Amount
a. U/S 80CCD(2) Employer cont. towards new pension scheme Rs. 250,000 Rs. 250,000
U/S 80 CCD(1B)
Additional cont. towards NPS (Upto Rs. 50000 )from
F.Y. 2015-16) Rs. 250,000 Rs. 250,000
b. U/S 80CCF Investment in long term infrasturture bonds Rs. 250,000 Rs. 250,000
Medical ins. premium for himself, spous and childrens Rs. 250,000 Rs. 250,000
c. U/S 80D-
& Parents
d. U/S 80DD- Medical treat. of dependent handicapped person Rs. 250,000 Rs. 250,000
Spl ded.to the guardion of a patient suff.from Rs. 250,000 Rs. 250,000
e. U/S 80DDB-
Cancer/Aids
f. U/S 80E- Repayment of loan for higher education Rs. 250,000 Rs. 250,000
Intrest paid on HBA(Loan taking after01-04-13 Rs. 250,000 Rs. 250,000
g. U/S 80EE- excluding u/s 24B)
Deduction in respect of interest on loan taken for Rs. 250,000 Rs. 250,000
h. U/S 80EEA- certain house property
i. U/S 80EEB- Deduction in respect of purchase of electric vehicle Rs. 250,000 Rs. 250,000
j. U/S 80G- Donation . 50% and 100% Rs. 250,000 Rs. 250,000
k. U/S 80CCG- New Rajiv Gandhi Saving Scheme Rs. 250,000 Rs. 250,000
l. U/S 80TTA- Interest on deposits in savings account Rs. - Rs. -
Interest income earned on Saving/ Fixed Deposits & Rs. - Rs. -
m. U/S 80TTB- Recurring Deposits
n. U/S 80U- Phy. hand. person or blind person Rs. 250,000 Rs. 250,000
o. (Any other deduction..Give name) Rs. 250,000 Rs. 250,000
11 Aggregate of deductible amounts under Chapter VI-A
12 Total Income ( 9 - 11 ) (Rounded off u/s 288A)
13 Tax on total income
14 Rebate under section 87A, if applicable
Surcharge,whenever applicable (on
15 tax computed at S.No. 13)
Education Cess @2% on Tax+H.Education Cess @1%
16
(on tax computed at S.No.13 + surcharge at S.No. 15)
17 Tax payable ( 13+15+16-14 )
18 Less: Releif under section 89 (attach details)
19 Tax Payable ( 17-18 )
16.18.1.22.5.19.8√97263.0458756048 318
Verification
16.18.1.22.5.19.8√97263.0458756048 319
1
FORM 16
[See rule 31(1)(a)]
PART A
e Income-tax Act,1961 for tax deducted at source Salary
9964
To
31/03/2020
Amount of tax
deposited/remitted
(Rs.)
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
16.18.1.22.5.19.8√97263.0458756048 320
16.18.1.22.5.19.8√97263.0458756048 321
A.YEAR 2020-21
Verification
working in the capacity of
do hearby certify that a sum of
has been deducted at source
further certify that the information given above is true and correct based
rds
MNPQ
16.18.1.22.5.19.8√97263.0458756048 322
A.YEAR 2020-21
PART B (Annexure)
d and any other income and tax deducted
Rs. 4,500,000
Rs. -
Rs. 4,500,000
Rs. 4,460,000
Rs -
Rs. 4,460,000
Deductible
Gross Amount Amount
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
16.18.1.22.5.19.8√97263.0458756048 323
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
16.18.1.22.5.19.8√97263.0458756048 324
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
Rs - Rs -
not exceed one lakh rupees
s,i.e., 80C, 80CCC & 80CCD (1), shall not exceed one lakh fifty thousand rupees
A.YEAR 2020-21
Qualifying Deductible
Amount Amount
Rs. 250,000 Rs. 250,000
Rs. 250,000 Rs. 50,000
Rs. 250,000 Rs. 250,000
Rs. 250,000 Rs. 100,000
Rs. 21,040
Rs. 547,040
Rs. -
Rs. 547,040
16.18.1.22.5.19.8√97263.0458756048 325
Verification
MNPQ
16.18.1.22.5.19.8√97263.0458756048 326
CATEGORY VERY SENIOR CITIZEN Employee code/ID
FORM 16
[See rule 31(1)(a)]
PART A
Certificate under section 203 of the Income-tax Act,1961 for tax deducted at source Salary
Certificate No. 1245 Last updated on
Name and Address of Employer Name and Designation of Employ
PRAVESH KUMAR SHARMA
SAMPLE OFFICE
ACCOUNTANT
PAN of the Employee Reference No.
PAN of Deductor TAN of the Deductor Employee Employer (If ava
PANNOTREQD JDHO12345E BEPPS1234Q 1234
CIT (TDS)
The Commissioner of Income Tax (TDS) New
Assessment Year Period with the Em
Central Revenue Building, Statue Circle, Janpath,
Address: Jaipur - 302005 From
2020-21
01/04/2019 31
City: Jaipur Pin Code 302005
Summary of amount paid/credited and tax deducted at sourcethereon in respect of employe
Receipt Numbers of original quarterly
Amount of Amount of tax
Quarter statements of TDS under sub-section (3) paid/credited deducted (Rs.)
of section 200
Quarter 1 Rs. - Rs 60
Quarter 2 Rs. - Rs 150
Quarter 3 Rs. - Rs 240
Quarter 4 Rs. - Rs 330
Total (Rs.) Rs. - Rs. 780
I. DETAILS OF TAX DEDUCTED AND DEPOSITED IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH ADJ
(The deductor to provide payment wise details of tax deducted and deposited with respect to the ded
Tax Deposited in Book identification number (BIN)
respect of the
S. deductee(Rs.)
No. Receipt numbers of Form DDO serial number in Date of transfer voucher
No.24 G Form No 24G (dd/mm/yyyy)
01 Rs 10 0 0
02 Rs 20 0 0
03 Rs 30 0 0
04 Rs 40 0 0
05 Rs 50 0 0
06 Rs 60 0 0
07 Rs 70 0 0
08 Rs 80 0 0
16.18.1.22.5.19.8√97263.0458756048 327
09 Rs 90 0 0
10 Rs 100 0 0
11 Rs 110 0 0
12 Rs 120 0 0
TOTAL Rs. 780
16.18.1.22.5.19.8√97263.0458756048 328
Certificate No. 1245 TAN of employer JDHO12345E PAN of employee BEPPS1234Q
II. DETAILS OF TAX DEDUCTED AND DEPOSITED IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH
(The deductor to provide payment wise details of tax deducted and deposited with respect to the deduct
1 Rs 20 0
2 Rs - 0
3 Rs - 0
4 Rs - 0
5 Rs - 0
6 Rs - 0
7 Rs - 0
8 Rs - 0
9 Rs - 0
10 Rs - 0
11 Rs - 0
12 Rs - 0
Total 20
Verification
I PQR son of STUV working in t
ABCD do hearby certif
Rs. 800 Rupees Eight Hundred Only has been deducted
and paid to the credit of the Central Government. I further certify that the information given above is true and
the books of account, documents and available records
Place :
Date : 11/18/2019 (Signature of the person responsible for d
16.18.1.22.5.19.8√97263.0458756048 329
Certificate No. 1245 TAN of employer JDHO12345E PAN of employee BEPPS1234Q
PART B (Annexure)
Details of Salary Paid and any other income and tax deducted
1 Gross Salary
(a) Salary as per provisons contained in sec 17(1) Rs. 5,000,100
Value of perquisites u/s 17(2) Rs. -
(b)
(as per Form No. 12BA, wherever applicable)
Profits in lieu of salary under section 17(3) Rs. -
(c )
(as per Form No.12BA, wherever applicable)
(d) Total Rs. 5,000,100
(e) Reported total amount of salary received from other employer(s) Rs. 101
2 Less : Allowance to the extent exempt under section 10
(a) Travel concession or assistance u/s 10(5) Rs 10
(b) Death-cum-retirement gratuity u/s 10(10) Rs 20
(c ) Commuted value of pension u/s 10(10A) Rs 30
Cash equivlent of leave salary encashment u/s
(d) 10(10AA)
Rs 40
(e) House rent allowance u/s 10(13 A) Rs 50
(f) Conv Allow under Section 10(14) Rs 60
(g) Other Allowances exempt u/s 10 Rs 70
(h) Total amount of exemption claimd u/s 10 Rs. 280
3 Total amount of salary received from current Rs. 4,999,820
employer [1(d)-2(h)]
4 Less :Deductions under section 16
(a) Standard Deducation (u/s 16ia) Rs 50,000
(b) Entertainment Allowance u/s 16(ii) Rs -
(c.) Tax on Employment u/s 16(iii) Rs -
Total amount of deductions u/s 16
5 [ 4(a)+ (b) + (c )]
Rs. 50,000
6 Income chargable under the head Salaries [3+1(e)-5]
7 Add : Any other income reported by the employee
(a) NSC Intrest Rs 1
(b) Bank Intrest on Saving Rs 2
(c ) HBA INTREST (loss) Rs (3)
(d) Income from pension Rs 4
(e) Any other income Rs 5
8 Total amount of other income reported by the employee Rs 9
9 GROSS TOTAL INCOME ( 6 + 8 )
10 Deductions under chapter VI A
A. Sections 80C, 80CCC & 80CCD
a. Section 80 C Gross Amount
i. Genral Provided Fund Rs 1
ii. State Insurance & Service Tax Rs 2
iii Group Insurance Rs 3
iv. Life Insurance Premium Rs 4
v. Accured Intrest on NSC Rs 5
16.18.1.22.5.19.8√97263.0458756048 330
vi. Tution Fee Rs 6
vii Repayment of HBA Rs 7
viii Hazard Fund Rs 8
ix Purchases of NSC Rs 9
x PPF Rs 10
xi PLI / ULIP Rs 11
xii IDBI/ICCI Rs 12
16.18.1.22.5.19.8√97263.0458756048 331
xiii BANK FD/POST OFFICE FD Rs 13
xiv Equity link saving bond Rs 14
xv Sukanya Samriddhi Account Deposit Scheme Rs 15
xvi Any other ded. u/s 80C Rs 16
b. Section 80 CCC Rs 17
c. Section 80 CCD (1) Rs 18
Aggregate total of section 80C,80CCC,80CCD (u/s 80 CCE) Rs 171
Note : 1. aggregate amount deductible under section 80C shall not exceed one lakh rupees
2. aggregate amount deductible under the three sections,i.e., 80C, 80CCC & 80CCD (1), shall not exceed one lakh fifty thousan
Qualifying
B. Other sections ( for e.g., 80E, 80G etc. ) under chapter VIA Gross Amount Amount
a. U/S 80CCD(2) Employer cont. towards new pension scheme Rs. 150,000 Rs. 150,000
U/S 80 CCD(1B)
Additional cont. towards NPS
(Upto Rs. 50000 )from F.Y. 2015-16) Rs. 250,000 Rs. 250,000
b. U/S 80CCF Investment in long term infrasturture bonds Rs. 250,000 Rs. 250,000
c. U/S 80D- Medical ins. premium for himself, spous and
childrens & Parents Rs. 250,000 Rs. 250,000
d. U/S 80DD- Medical treat. of dependent handicapped person Rs. 250,000 Rs. 250,000
Spl ded.to the guardion of a patient suff.from
e. U/S 80DDB- Cancer/Aids Rs. 250,000 Rs. 250,000
f. U/S 80E- Repayment of loan for higher education Rs. 250,000 Rs. 250,000
Intrest paid on HBA(Loan taking after 01-04-13
g. U/S 80EE- excluding u/s 24B) Rs. 250,000 Rs. 250,000
Deduction in respect of interest on loan taken for
h. U/S 80EEA- certain house property Rs. 251,000 Rs. 251,000
i. U/S 80EEB- Deduction in respect of purchase of electric vehicle
Rs. 252,000 Rs. 252,000
j. U/S 80G- Donation . 50% and 100% Rs. 250,000 Rs. 250,000
k. U/S 80CCG- New Rajiv Gandhi Saving Scheme Rs. 250,000 Rs. 250,000
l. U/S 80TTA- Interest on deposits in savings account Rs. 250,000 Rs. 250,000
Interest income earned on Saving/ Fixed Deposits &
m. U/S 80TTB- Recurring Deposits Rs. 250,000 Rs. 250,000
n. U/S 80U- Phy. hand. person or blind person Rs. 250,000 Rs. 250,000
o. (Any other deduction..Give name) Rs. 250,000 Rs. 250,000
11 Aggregate of deductible amounts under Chapter VI-A
12 Total Income ( 9 - 11 ) (Rounded off u/s 288A)
13 Tax on total income
14 Rebate under section 87A, if applicable
Surcharge,whenever applicable (on
15
tax computed at S.No. 13)
Health and Education Cess & 4%
16
(on tax computed at S.No.13 + surcharge at S.No. 15)
17 Tax payable ( 13+15+16-14 )
18 Less: Releif under section 89 (attach details)
16.18.1.22.5.19.8√97263.0458756048 332
19 Tax Payable ( 17-18 )
Verification
16.18.1.22.5.19.8√97263.0458756048 333
647805
FORM 16
[See rule 31(1)(a)]
PART A
e Income-tax Act,1961 for tax deducted at source Salary
1234
To
31/03/2020
Amount of tax
deposited/remitted
(Rs.)
Rs. 60
Rs. 150
Rs. 240
Rs. 330
Rs. 780
Matched
Matched
Matched
Matched
Matched
Matched
Matched
Matched
16.18.1.22.5.19.8√97263.0458756048 334
Matched
Matched
Matched
Matched
16.18.1.22.5.19.8√97263.0458756048 335
A.YEAR 2020-21
0
0
0
0
0
0
0
0
0
0
0
0
Verification
working in the capacity of
do hearby certify that a sum of
has been deducted at source
urther certify that the information given above is true and correct based on
PQR
16.18.1.22.5.19.8√97263.0458756048 336
A.YEAR 2020-21
PART B (Annexure)
d and any other income and tax deducted
Rs. 5,000,100
Rs. 101
Rs. 4,999,820
Rs. 4,949,921
Rs 9
Rs. 4,949,930
Deductible Amount
Gross Amount
Rs 1 Rs 1
Rs 2 Rs 2
Rs 3 Rs 3
Rs 4 Rs 4
Rs 5 Rs 5
16.18.1.22.5.19.8√97263.0458756048 337
Rs 6 Rs 6
Rs 7 Rs 7
Rs 8 Rs 8
Rs 9 Rs 9
Rs 10 Rs 10
Rs 11 Rs 11
Rs 12 Rs 12
16.18.1.22.5.19.8√97263.0458756048 338
Rs 13 Rs 13
Rs 14 Rs 14
Rs 15 Rs 15
Rs 16 Rs 16
Rs 17 Rs 17
Rs 18 Rs 18
Rs 171 Rs 171
not exceed one lakh rupees
s,i.e., 80C, 80CCC & 80CCD (1), shall not exceed one lakh fifty thousand rupees
A.YEAR 2020-21
Qualifying Deductible Amount
Amount
Rs. 150,000 Rs. 150,000
Rs. 50,000
Rs. 250,000
Rs. 250,000 Rs. 250,000
Rs. 100,000
Rs. 250,000
Rs. 250,000 Rs. 75,000
Rs. 40,000
Rs. 250,000
Rs. 250,000 Rs. 250,000
Rs. 50,000
Rs. 250,000
Rs. 150,000
Rs. 251,000
Rs. 150,000
Rs. 252,000
Rs. 250,000 Rs. 250,000
Rs. 250,000 Rs. -
Rs. 250,000 Rs. -
Rs. 50,000
Rs. 250,000
Rs. 250,000 Rs. 75,000
Rs. 250,000 Rs. 250,000
Rs. 1,890,171
Rs. 3,059,760
Rs. 717,928
Rs. -
Rs. -
Rs. 28,717
Rs. 746,645
Rs. -
16.18.1.22.5.19.8√97263.0458756048 339
Rs. 746,645
Verification
PQR
16.18.1.22.5.19.8√97263.0458756048 340
Treatment_of_Income_from_Different_Sources Home
2 Income by way of winnings from lotteries, crossword puzzles, races including horse races, card games, gambling or betting of any form
or nature whatsoever
3 Any sum received by an employer from his employees as contribution towards PF/ESI/ Superannuation Fund etc., if same is not
deposited in the relevant fund and it is not taxable under the head ‘Profits and Gains from Business or Profession’.
4 Interest on securities, if not taxable under the head ‘Profits and Gains of Business or Profession’
5 Income from machinery, plant or furniture belonging to taxpayer and let on hire, if income is not chargeable to tax under the head
‘Profits and Gains of Business or Profession’
6 Composite rental income from letting of plant, machinery or furniture with buildings, where such letting is inseparable and such
income is not taxable under the head ‘Profits and Gains of Business or Profession’
7 Any sum received under Keyman Insurance Policy (including bonus), if not taxable under the head ‘Profits and Gains of Business or
Profession’ or under the head ‘Salaries’
8 In the following cases, any sum of money or property received by an individual or HUF from any person (except from relatives or
member of HUF or in given circumstances, see note 1) shall be taxable under the head ‘Income from other sources’:
8 In the following cases, any sum of money or property received by an individual or HUF from any person (except from relatives or
member of HUF or in given circumstances, see note 1) shall be taxable under the head ‘Income from other sources’:
a) If any sum is received without consideration in excess of Rs. 50,000 during the previous year, the whole amount shall be chargeable to
tax;
b) If an immovable property is received without consideration and the stamp duty value exceeds Rs. 50,000, the stamp duty value of
such property shall be chargeable to tax;
c) If immovable property is received for consideration which is less than the stamp duty value of property by higher of following amount
the difference is chargeable to tax:
(i) the amount of Rs. 50,000
(ii) the amount equal to 5% of consideration.
d) If movable properties* is received without consideration and the aggregate fair market value of such properties exceeds Rs. 50,000,
the whole of aggregate fair market value of such properties shall be chargeable to tax
e) If movable properties is received for consideration which is less than the aggregate fair market value of properties by an amount
exceeding Rs. 50,000, the difference between the aggregate fair market value and the consideration is chargeable to tax.
9 If shares in a closely held company are received by a firm or another closely held company from any person without consideration or
for inadequate consideration, the aggregate fair market value of such shares as reduced by the consideration paid, if any, shall be
chargeable to tax.
Note: Nothing would be chargeable to tax if taxable amount doesn’t exceed Rs. 50,000.
10 If a closely held public company receives any consideration for issue of shares which exceed the fair market value of such shares, the
aggregate consideration received for such shares as reduced by its fair market value shall be chargeable to tax.
10A. Any compensation received by a person in connection with the termination of his employment or modification of terms and
conditions relating thereto.
10A. Any compensation received by a person in connection with the termination of his employment or modification of terms and
conditions relating thereto.
11 Interest received on compensation or enhanced compensation
12 Any sum of money received as an advance or otherwise in the course of negotiations for transfer of a capital asset shall be charged to
tax under this head, if:
2 57(ia) Employee’s contribution towards Provident Fund, If employees’ contribution is credited to their account in
Superannuation Fund, ESI Fund or any other fund setup for relevant fund on or before the due date
the welfare of such employees
3 57(ii) Rental income letting of plant, machinery, furniture or Rent, rates, taxes, repairs, insurance and depreciation etc.
building
4 57(iia) Family Pension 1/3rd of family pension subject to maximum of Rs. 15,000.
5 57(iii) Any other income Any other expenditure (not being capital expenditure)
expended wholly and exclusively for earning such income
6 57 (iv) Interest on compensation or enhanced compensation 50% of such interest (subject to certain conditions)
7 58(4)Proviso Income from activity of owning and maintaining race All expenditure relating to such activity.
horses.
D Expenses not deductible [Section 58]:
S.N. Section Nature of Income
1 58(1)(a)(i) Personal expenses to tax which is payable outside India on which tax has not been paid or deducted at
Interest chargeable
2 58(1)(a)(ii) source
3 58(1)(a)(iii) ‘Salaries’ payable outside India on which no tax is paid or deducted at source
4 58(1A) Wealth-tax
5 58(2) Expenditure
Expenditure of the nature specified in section
in connection with winnings from40A
lotteries, crossword puzzles, races, games, gambling or
6 58(4) betting
Treatment_of_Income_from_Different_Sources Home
i. not being more than 2 KMs, if population of such area is more than 10,000 but not exceeding 1 lakh;
ii. not being more than 6 KMs , if population of such area is more than 1 lakh but not exceeding 10 lakhs; or
iii. not being more than 8 KMs , if population of such area is more than 10 lakhs.
e) Deposit certificates issued under the Gold Monetisation Scheme, 2015
C Type of Capital Assets
(A) Short Term Capital Asset (B). Long Term Capital Asset
Capital asset held for not more than 36 months immediately prior to the date of transfer shall be Capital Asset that held for more than 36 months or 24
deemed as short-term capital asset. However, following assets held for not more than 12 months shall months or 12 months, as the case may be, immediately
be treated as short-term capital assets: preceding the date of transfer is treated as long-term
capital asset.
a) Equity or preference shares in a company which are listed in any recognized stock exchange
in India;
b) Other listed securities;
c) Units of UTI;
d) Units of equity oriented funds; or
e) Zero Coupon Bonds.
Note: Unlisted shares and immovable property (being land or building or both) held for not more
than 24 months immediately prior to the date of transfer shall be treated as short-term
capital asset.
D Period of Holding
The period of holding shall be determined as follows:
Different situations How to calculate the period of holding
Shares held in a company in liquidation The period subsequent to the date on which the company goes into liquidation shall be
excluded.
Capital asset which becomes the property of the assessee in the The period for which the asset was held by the previous owner should be included (cost
circumstances mentioned in section 49(1) read with section 47 [i.e., acquisition in this case shall be computed in the manner provided in Para 4.10)
when an asset is acquired by gift, will, succession, inheritance or the
asset is required at the time of partition of family or under a revocable
or irrevocable trust or under amalgamation, etc.]
Allotment of shares in amalgamated Indian company in lieu shares held The period of holding shall be computed from the date of acquisition of shares in the
in amalgamating company amalgamating company.
Right shares The period of holding shall be computed from the date of allotment of right shares.
Right entitlement The period of holding will be considered from the date of offer to subscribe to shares to
the date when such right entitlement is renounced by the person.
Bonus shares The period of holding shall be computed from the date of allotment of bonus shares.
Issue of shares by the resulting company in a scheme of demerger to The period of holding shall be computed from the date of acquisition of shares in the
the shareholders of the demerged company demerged company.
Membership right held by a member of recognised stock exchange In case of shares as well as trading/clearing rights, the period for which the person was a
member of the stock exchange immediately prior to such demutualization/corporatizati
shall be included.
Flat in a co-operative society The period of holding shall be computed from the date of allotment of shares in the
society.
Sweat equity shares allotted by employer The period of holding shall be reckoned from the date of allotment or transfer of such
equity shares (applicable from the assessment year 2008-09)
Unit of a business trust [allotted pursuant to transfer of shares as The period of holding shall include the period for which shares were held by the assesse
referred to in section 47(xvii)]
Conversion of preference shares into equity shares The period of holding of equity shares shall include the period for which preference shar
were held by the assessee
Units allotted to an assessee pursuant to consolidation of two or more The period of holding of such units shall include the period for which the unit or units in
scheme of a mutual fund as referred to in Section 47(xviii) the consolidating scheme of the mutual fund were held by the assessee.
Shares in a company acquired by the non-resident assessee on The period of holding of such shares shall be reckoned from the date on which a request
redemption of Global Depository Receipts referred to in Section for such redemption was made.
115AC(1)(b)
2) Date of transfer (through stock exchanges) of shares and b) Date of broker's note provided such transactions are followed up by
securities delivery of shares and also the transfer deeds.
2) Date of transfer (through stock exchanges) of shares and b) Date of broker's note provided such transactions are followed up by
securities delivery of shares and also the transfer deeds.
3) Date of purchase/transfer of shares and securities c) Date of contract of sale as declared by parties provided it is followed up
(transaction taken place directly between parties and not actual delivery of shares and the transfer deeds.
through stock exchanges)
4) Date of purchase/sale of shares and securities purchased d) The FIFO method shall be adopted to reckon the period of the holding o
in several lots at different points of time but delivery taken the security, in cases where the dates of purchase and sale cannot be
subsequently and sold in parts correlated through specific number of scrips.
5) Transfer of a security by a depository (i.e., demat account) e) The period of holding shall be determined on the basis of the first-in-firs
out method.
Conversion of stock-in-trade into capital asset The period of holding of such converted asset shall be reckoned from the date of
conversion.
E Meaning of Transfer [Section 2(47)]
"Transfer”, in relation to a capital asset, includes:
(i) Sale, exchange or relinquishment of the asset;
(ii) Extinguishment of any rights in relation to a capital asset;
(iii) Compulsory acquisition of an asset;
(iv) Conversion of capital asset into stock-in-trade;
(v) Maturity or redemption of a zero coupon bond;
(vi) Allowing possession of immovable properties to the buyer in part performance of the contract;
(vii) Any transaction which has the effect of transferring an (or enabling the enjoyment of) immovable property; or
(viii) Disposing of or parting with an asset or any interest therein or creating any interest in any asset in any manner whatsoever.
F Transactions which are not regarded as transfer [Section 47]
Following transactions shall not be regarded as transfer (subject to certain condition). Hence, following transaction shall not be charged to capital gains:
Section Particulars
46(1) Distribution of asset in kind by a company to its shareholders at the time of liquidation
47(i) Distribution of capital asset on total or partial partition of HUF
47(iii) Transfer of capital asset under a gift or will or an irrevocable trust
Transfer of capital asset by a company to its wholly owned subsidiary company
47(iv)
Transfer of a capital asset by a wholly owned subsidiary company to its holding company
47(v)
Transfer of capital assets in a scheme of amalgamation
47(vi)
47(via) Transfer of shares in an Indian company held by a foreign company to another foreign company under a scheme of amalgamation of the two foreign
companies
47(viab) Transfer of share of a foreign company (which derives, directly or indirectly, its value substantially from the share or shares of an Indian company) h
by a foreign company to another foreign company under a scheme of amalgamation (subject to conditions)
Transfer of capital assets in a scheme of amalgamation of a banking company with a banking institution
47(viaa)
Transfer of capital assets by the demerged company to the resulting company in a demerger
47(vib)
Transfer of shares held in an Indian company by a demerged foreign company to the resulting foreign company
47(vic)
Any transfer of a capital asset by the predecessor co-operative bank to the successor co-operative bank in a business reorganization.
47(vica)
47(vicb) Any transfer of capital asset (being shares) held by a shareholder in the predecessor co-operative bank if the transfer is made in consideration of the
allotment to him of any shares in the successor co-operative bank in a scheme of business reorganization
47(vicc) Transfer of share of a foreign company (which derives, directly or indirectly, its value substantially from the share or shares of an Indian company) h
by a demerged foreign company to resulting foreign company in case of demerger (subject to conditions)
Transfer or issue of shares by the resulting company to the shareholders of the demerged company in a scheme of demerger
47(vid)
Allotment of shares in amalgamated company in lieu of shares held in amalgamating company
47(vii)
Transfer of capital assets (being foreign currency convertible bonds or GDR) by a non-resident to another non-resident
47(viia)
47(viiaa) Any transfer made outside India, of a capital asset (being rupee denominated bond of an Indian company issued outside India) by a non-resident to
another non-resident
47(viiab) Any transfer of following capital assets by a non-resident on a recognised stock exchange located in any International Financial Services Centre:
a) Bond or GDR
b) Rupee Denominated Bond of an Indian Co.
c) Derivative
47(viib) Transfer of capital assets (being a Government security carrying periodic payment of interest) outside India through an intermediary dealing in
settlement of securities by a non-resident to another non- resident
47(viic) Redemption of capital asset being sovereign gold bond issued by RBI under the Sovereign Gold Bond Scheme, 2015
47(ix) Transfer of a capital asset (being work of art, manuscript, painting, etc.) to Government, University, National museum, etc.
47(x) Transfer by way of conversion of bonds or debentures into shares
47(xa) Transfer by way of conversion of bonds [as referred to in section 115AC(1)(a)] into shares or debentures of any company
47(xb) Any transfer by way of conversion of preference shares into equity shares
47(xi) Transfer by way of exchange of a capital asset being membership of a recognized stock exchange for shares of a company
47(xii) Transfer of land by a sick industrial company which is managed by its workers’ co-operative
47(xiii) Transfer of a capital asset by a firm to a company in the case of conversion of firm into company
47(xiiia)Transfer of a capital asset being a membership right held by a member of a recognized stock exchange in India
Transfer of a capital asset by a private company or unlisted public company to an LLP, or any transfer of shares held in the company by a shareholder
47(xiiib) in the case of conversion of company into LLP
47(xiv) Transfer of a capital asset to a company in the case of conversion of proprietary concern into a company
47(xv) Transfer involved in a scheme of lending of securities
47(xvi) Transfer of a capital asset in a transaction of reverse mortgage made under a scheme notified by the Government
Transfer of a capital asset (being share of a special purpose vehicle) to a business trust in exchange of units allotted by that trust to the transferor
47(xvii)
Transfer of units of a mutual fund pursuant to consolidation of two or more schemes of equity oriented mutual fund or of two or more schemes of a
47(xviii) mutual fund other than equity oriented mutual fund
47(xix) Transfer of units of a mutual fund from one plan to another pursuant to consolidation of plans within scheme of mutual funds.
G Computation of capital Gain:
Computation of capital gain depends upon the nature of the capital asset transferred during the previous year, vis-à-vis, short-term capital asset, long-term capit
asset or depreciable asset. Capital gain arising on transfer of short-term capital asset or depreciable asset is considered as short-term capital gain, whereas trans
of long-term capital asset gives rise to long-term capital gain.
The capital gains on transfer of capital asset shall be computed in the following manner:
Short-term capital assets Long-term capital assets Depreciable asset
[Section 48] [Section 48] [Section 50]*
Full value of consideration Full value of consideration WDV of block of asset at the beginning of previous year
Less: Cost of acquisition of asset Less: Indexed Cost of acquisition Add: Actual cost of assets falling within that block acquired during the
(See Note 1) year
Less: Cost of acquisition of asset Less: Indexed Cost of acquisition Add: Actual cost of assets falling within that block acquired during the
(See Note 1) year
Less: Cost of improvement Less: Indexed Cost of Improvement Less: Full value of consideration of assets transferred during the year
(See Note 1)
Less: Expenditure incurred wholly and Less: Expenditure incurred wholly and Less: Expenditure incurred wholly and exclusively in connection with suc
exclusively in connection with such exclusively in connection with such transfer transfer
transfer
Note 1: * Short-term capital gain or loss from sale of depreciable asset will arise
Indexed Cost of Acquisition and Improvement only in the following two situations:
[Second Proviso to Section 48]
a) When on last day of the previous year, WDV of the bloc
a) In case of transfer of long-term of asset is nil; or
capital assets, indexed cost of
acquisition and indexed cost of
improvement shall be b) When on last day of the previous year, block ceases to
deducted from the full value of exist.
consideration;
However, there are some cases where benefit of indexation is not available, which are as under:
Section Capital Asset Transferor
Third Proviso to Section Long-term capital gains arising from transfer of an equity share, or a unit of Any Person
48 an equity oriented fund or a unit of a business trust as referred to in Section
112A.
Fourth proviso to Bonds or debentures. Any person
section 48 Note: However, indexation benefit is available on two type of bonds,
namely,-
• Capital indexed bonds (issued by the Government)
• Sovereign Gold Bond (issued by the RBI under the Sovereign
Gold Bond Scheme, 2015)
112 Capital gains arising from transfer of unlisted shares (which is taxable at Non-resident
concessional rate of 10%) as calculated without giving effect to first proviso
to Section 48
44AE Presumptive income from business of plying, hiring or leasing of goods For Heavy Goods Vehicle:
carriage if assessee does not own more than 10 goods carriage. Rs. 1,000 per ton of gross vehicle weight for every mont
or part of a month during which the heavy goods vehicl
is owned by assessee.
For Other Goods Vehicle:
Rs. 7,500 for every month or part of a month during wh
the goods carriage is owned by assessee.
50A Depreciable asset (other than an asset used by a power generating unit Any person
eligible for depreciation on straight line basis)
50B Undertaking/division transferred by way of slump sale as covered by section Any person
50B
115AB Units purchased in foreign currency as given in section 115AB Offshore fund
Global depository receipts (GDR) purchased in foreign currency as given Non-resident
115AC in section 115AC
Global depository receipts (GDR) purchased in foreign currency as given Resident individual - employee
115ACA in section 115ACA
115AD Securities as given in section 115AD Foreign Institutional Investors
CII in relation to a previous year means such index, as Central Government notifies on year to year basis. The Central Government has notified the following Cos
Inflation Indexes
Financial Cost Inflation Index Financial year Cost Inflation Index
year
2001-02 100 2010-11 167
2002-03 105 2011-12 184
2003-04 109 2012-13 200
2004-05 113 2013-14 220
2005-06 117 2014-15 240
2006-07 122 2015-16 254
2007-08 129 2016-17 264
2008-09 137 2017-18 272
2009-10 148 2018-19 280
H Computation of capital gain in case of sale of shares or debentures of an Indian company purchased by a non-resident in foreig
currency [ first proviso to section 48]
In such a case, capital gain shall be determined as under:-
Full Value of Consideration (X) Find out sale consideration in Indian currency and convert it into same foreign currency, which was used to acquire the
capital asset, at average exchange rate* on the date of transfer.
Cost of acquisition (Y) Find out the cost of acquisition in Indian currency and convert it into foreign currency at average exchange rate on the da
of acquisition.
Expenditure on sale (Z) Find out the expenditure on transfer in Indian currency and convert it into same foreign currency at average exchange rat
on the date of transfer (not on the date when expenditure is incurred).
Capital gain (X-Y-Z) The capital gains as computed in after reducing the cost of acquisition and expenditure from the full value of consideratio
shall be reconverted into Indian currency at buying rate** on the date of transfer.
* Average exchange rate means the average of the telegraphic transfer buying rate and telegraphic transfer selling rate of the foreign currency initially utilised in
the purchase of capital asset.
** Buying rate is the telegraphic transfer buying rate of such currency.
However, in the following cases “full value of the consideration” shall be determined on notional basis as per the relevant provisions of the Income-tax Act, 1961
However, in the following cases “full value of the consideration” shall be determined on notional basis as per the relevant provisions of the Income-tax Act, 1961
4 Distribution of capital asset by Firm or AOP/BOI to its 45(4) FMV of such asset on the date of transfer
partners or members, as the case may be, on its
dissolution
5 Money or other assets received by share- holders at the 46(2) Total money plus FMV of assets received on the date of
time of liquidation of the company distribution less amount assessed as deemed dividend undersection 2(2
(c)
6 Buy-back of shares and other specified securities by a 46A Consideration paid by company on buyback of shares or other securities
company would be deemed as full value of consideration. The difference between
the cost of acquisition and buy-back price (full value of consideration)
would be taxed as capital gain in the hands of the shareholder.
7 Shares, debentures, warrants (‘securities’) allotted by an Fourth Proviso Fair Market value of securities at the time of gift
employer to an employee under notified Employees Stock toSection 48
Option Scheme and such securities are gifted by the
concerned employee to any person
7A. Conversion of capital asset into stock-in-trade 49 FMV of the inventory as on the date of conversion
8 In case of transfer of land or building, if sale consideration 50C The value adopted or assessed or assessable by the Stamp Valuation
declared in the conveyance deed is less than the stamp Authority shall be deemed to be the full value of consideration. Howeve
duty value no such adjustment is required to be made if value adopted for stamp
duty purposes does not exceed 105% of the sale consideration.
8 In case of transfer of land or building, if sale consideration 50C The value adopted or assessed or assessable by the Stamp Valuation
declared in the conveyance deed is less than the stamp Authority shall be deemed to be the full value of consideration. Howeve
duty value no such adjustment is required to be made if value adopted for stamp
duty purposes does not exceed 105% of the sale consideration.
8A. Where consideration for transfer of unquoted shares is less 50CA The Fair Market Value (so determined in prescribed manner) shall be
than the Fair Market Value deemed to be the full value of consideration
9 If consideration received or accruing as a result of transfer 50D FMV of asset on the date of transfer (applicable from the assessment ye
of a capital asset is not ascertainable or cannot be 2013-14)
determined
J Cost of Acquisition
Cost of acquisition of an asset is the amount for which it was originally acquired by the assessee. It includes expenses of capital nature incurred in connection wi
such purchase or for completing the title of the property.
However, in cases given below, cost of acquisition shall be computed on notional basis:
S. No. Particulars Notional Cost of Acquisition
1 Additional compensation in the case of compulsory Nil
acquisition of capital assets
2 Assets received by a shareholder on liquidation of the FMV of such asset on the date of distribution of assets to the shareholders
company
3 Stock or shares becomes property of taxpayer on Cost of acquisition of such stock or shares from which such asset is derived
consolidation, conversion, etc.
4 Allotment of shares in an amalgamated Indian co. to the Cost of acquisition of shares in the amalgamating co.
shareholders of amalgamating co. in a scheme of
amalgamation
5 Conversion of debentures into shares That part of the cost of debentures in relation to which such asset is acquired by the
assessee
5A. Conversion of preference shares into equity shares The part of the cost of preference shares in relation to which such asset is acquired by th
assessee.
6 Allotment of shares/securities by a co. to its employees a) If shares are allotted during 1999-2000 or on or after April 1, 2009, FMV
under ESOP Scheme approved by the Central Government securities on the date of exercise of option
b) If shares are allotted before April 1, 2007 (not being during 1999-2000),
the amount actually paid to acquire the securities
c) If shares are allotted on or after April 1, 2007 but before April 1, 2009,
FMV of securities on the date of vesting of option (purchase price paid t
the employer or FBT paid to employer shall not be considered)
7 Property covered by section 56(2)(vii) or (viia) or (x) The value which has been considered for the purpose of Section 56(2)(vii) or (viia) or (x)
8 Allotment of shares in Indian resulting company to the Cost of acquisition of shares in demerged company ? Net book value of assets transferre
existing shareholders of the demerger company in a in demerger ? Net worth of the demerged company immediately before demerger
scheme of demerger
9 Cost of acquisition of original shares in demerged company Cost of acquisition of such shares minus amount calculated above in point 8.
after demerger
10 Cost of acquisition of assets acquired by successor LLP Cost of acquisition of the assets to the predecessor private company or unlisted public
from predecessor private company or unlisted public company
company at the time of conversion of the company into
LLP in compliance with conditions of Section 47(xiiib)
11 Cost of acquisition of rights of a partner in a LLP which Cost of acquisition of the shares in the co. immediately before conversion
became the property of the taxpayer due to conversion of
a private company or unlisted public company into the LLP
12 Depreciable assets covered under Section 50 Opening WDV of block of assets on the first day of the previous year plus actual cost of
assets acquired during the year which fall within the same block of assets
13 Depreciable assets of a power generating unit as covered WDV of the asset minus terminal depreciation plus balancing charge
under Section 50A*
14 Undertaking/division acquired by way of slump sale as Net worth of such undertaking
covered under section 50B
15 New asset acquired for claiming exemptions under Actual cost of acquisition minus exemption claimed under these sections
sections 54, 54B, 54D, 54G or 54GA if it is transferred
within three years
16 Goodwill of business or trade mark or brand name a) If these assets were acquired by gift, will, etc., under section 49(1) and the previous
associated with business or right to manufacture, produce owner had purchased these assets: Cost of acquisition to the previous owner
or process any article or thing or right to carry on any
business or profession, tenancy right, stage permits or
loom hours b) If the owner has purchased these assets: Actual cost of acquisition
c) If these assets are self-generated: Nil
17 Right shares Amount actually paid by assessee
18 Right to subscribe to shares (i.e., right entitlement) Nil
19 Bonus shares a) If allotted to the assessee before April 1, 1981: Fair market value on that date
b) In any other case: Nil
20 Allotment of equity shares and right to trade in stock a) Cost of acquisition of shares: Cost of acquisition of original membership of the stock
exchange, allotted to members of stock exchange under a exchange
scheme of demutualization or corporatization of stock
exchanges as approved by SEBI
b) Cost of acquisition of trading or clearing rights of the stock exchange: Nil
21 Capital asset, being a unit of business trust, acquired in Cost of acquisition of shares as referred to in section 47(xvii) [applicable from AY 2015-1
consideration of transfer as referred to in section 47(xvii)
: Units allotted to an assessee pursuant to consolidation of Cost of acquisition of such units shall be the cost of acquisition of units in the
two or more scheme of a mutual fund as referred to in consolidating scheme of the mutual fund
Section 47(xviii)
: Shares in a company acquired by the non-resident assessee Cost of acquisition of such shares shall be calculated on the basis of the price prevailing
on redemption of Global Depository Receipts referred to in any recognized stock exchange on the date on which a request for such redemption was
Section 115AC(1)(b) made.
24 Any other capital asset: a) If it became property of taxpayer before April 1, 2001 by gift, will, etc., in modes
specified insection 49(1): Cost of acquisition to the previous owner or FMV as on April 1
2001, whichever is higher
b) If it became property of taxpayer before April 1, 2001 : Cost of acquisition or FMV as
on April 1, 2001, whichever is more
c) If it became property of taxpayer after April 1, 2001 by gift, will, etc., in modes
specified insection 49(1): Cost of acquisition to the previous owner
d) If it became property of taxpayer after April 1, 2001 : Actual cost of acquisition
* Terminal Depreciation/Balancing Charge:
a) Balancing Charge = Sales Consideration - WDV of the depreciable asset
Cost to the previous owner shall be deemed to be the cost of acquisition in the hands of the taxpayer in cases where a capital asset becomes the property of the
assessee under any of the modes given below:
a) On any distribution of assets on the total or partial partition of a HUF
b) Under a Gift or Will;
c) By Succession, Inheritance or Devolution;
d) On any distribution of assets on dissolution of a firm, BOI or AOP (where such dissolution had taken place at any time before the 01-04-1987);
Cost of improvement, in relation to the capital assets shall include all capital expenditure incurred in making addition or alteration to the capital assets by the
assessee or the previous owner. However, cost of improvement does not include any expenditure incurred prior to 01-04-2001. Cost of improvement shall be
computed in the following manner:
S. No. Particular Cost of Improvement
1 In relation to goodwill of a business, right to manufacture, produce any NIL
article or thing or right to carry on business or profession
2 In relation to capital asset which becomes property of the assessee or Any expenditure of capital nature incurred on or after 01-04-2001
previous owner before 01-04-2001
3 In relation to capital asset which becomes property of the assessee or Any expenditure of capital nature incurred on or after 01-04-2001 by the
previous owner before 01.04.2001 by way of any mode specified assessee or the previous owner
under Section 49(1)
4 In relation to capital asset which becomes property of the assessee or Any expenditure of capital nature incurred by the assessee or the previo
previous owner on or after 01.04.2001 owner
5 In relation to capital asset which becomes property of the assessee or Any expenditure of capital nature incurred by the assessee or the previo
previous owner on or after 01-04-2001 by way of any mode specified owner
under Section 49(1)
Particular Section 54 Section Section 54D Section 54EC Section 54EE Section 54F Section 54G Section 54GA
s 54B
Particular Section 54 Section Section 54D Section 54EC Section 54EE Section 54F Section 54G Section 54GA
s 54B
(a) Eligible taxpayers
Individual Individual Any person Any person Any Person Individual and Any person Any person
and HUF and HUF HUF
(b) Capital gains eligible for exemption
Long-term Short-term Short-term or Long-term Long-term Long-term Short-term or Long- Short-term or
or Long- Long-term term Long-term
term
(c ) Capital gains arising from transfer of
Residential Agriculture Compulsory Any long-term Any long-term Any long term Land, building, plant or Land, building,
House land used by acquisition of capital asset capital asset asset (other machinery, in order to plant or
property taxpayer or land or building being Land or than a shift industrial machinery, in
by his forming part of Building or residential undertaking from order to shift
parents or industrial Both house urban area to rural industrial
HUF for undertaking property) area. undertaking from
agriculture (which was provided on urban area to SEZ.
purposes in used for date of transfer
last 2 years industrial taxpayer does
before its purposes for at not own more
transfer least 2 years than one
before its residential
acquisition). house property
(except the
new house)
Construction Construction:
: within 3 within 3 years
years after after date of
date of transfer
transfer
c) if another
house is
constructed
within 3 years
of transfer of
original asset
(h) Deposit in Capital gains deposit scheme before due date under Sec. 139(1)
Yes Yes Yes No No Yes Yes Yes
P Capital Gain Account Scheme 1988
a) The scheme is open to all taxpayers, who wish to claim exemption under Sections 54, 54B, 54D, 54F, 54G or 54GB.
b) If taxpayer could not invest the capital gains to acquire new asset before due date of furnishing of return, the capital gains can be deposited before
due date for furnishing of return of income in deposit account in any branch of a nationalized bank in accordance with Capital Gain Account Scheme
1988.
Note: 1 Provisions of this section shall not apply to any transfer of residential property made after March 31, 2017. However, in case of an investment in
eligible start-up, the residential property can be transferred up to March 31, 2019.
Note: 2 W.e.f. April 1, 2017, eligible start-up is also included in definition of eligible company.
Note: 3 The eligible company should utilize the amount of subscription for purchase of new assets (i.e., plant and machinery except vehicle, office appliance
computer or computer software etc.). However, In the case of eligible startup, the new asset shall include computers or computer software.
Note:4 With effect from Assessment Year 2020-21, a taxpayer has an option to make investment in two residential house properties in India. This option ca
be exercised by the taxpayer only once in his lifetime provided the amount of long-term capital gain does not exceed Rs. 2 crores.
Note: 5 Where assessee takes loans or advance on security of such specified asset, he shall be deemed to have transferred such asset on the date on which
such loan or advance is taken.
e
, 1992.
cantonment board:
kh;
akhs; or
apital Asset
than 36 months or 24
e may be, immediately
treated as long-term
o subscribe to shares to
n.
ent of bonus shares.
nt or transfer of such
are followed up by
ovided it is followed up by
o capital gains:
ation of the two foreign
nization.
e in consideration of the
a) by a non-resident to
al Services Centre:
mediary dealing in
mpany by a shareholder,
wo or more schemes of a
ds.
us year
k acquired during the
rred during the year
chever is later)
or
e weight for every month
the heavy goods vehicle
onsideration may be
on.
on
date of receipt)
n
e firm or AOP/BOI as the
ribution
date of
idend undersection 2(22)
hares or other securities
The difference between
alue of consideration)
e shareholder.
ck exchange, domestic
20% under section
price as reduced by the
ch shares)
he Stamp Valuation
consideration. However,
ue adopted for stamp
consideration.
ed manner) shall be
areholders
is derived
et is acquired by the
ng as a result of transfer
onversion
sections
ition
ue on that date
change: Nil
f units in the
of acquisition or FMV as
rded, demolished or
g charge is taxable in the
the 01-04-1987);
malgamated Foreign
he amalgamated foreign
ectly or indirectly, its
company.
after 01-04-2001
xation; or
dexation.
s or foreign company from
thout giving benefit for
sted equity share, or a
iness trust as referred to
rate of 10% in excess of
asset to a Valuation
o works in a private
cer is of opinion that the
y to make a reference to
Section
54GB
Section
54GB
Individual and
HUF
Long-term
Residential
property
(house or a
plot of land)
(see note 1)
Subscription in
equity shares
of an eligible
company.
(see note 2,3)
Investment by
the assessee -
Before due
date for
furnishing of
return under
Sec. 139(1).
Investment in
new assets X
capital
gain/net
consideration
If equity shares
in company or
new asset
acquired by
company is
sold or
transferred
within a period
of 5 years from
date of
acquisition.
acquired by
company is
sold or
transferred
within a period
of 5 years from
date of
acquisition.
Yes
n be deposited before
al Gain Account Scheme
of an investment in
6 28(iiic) Any duty of Customs or Excise repaid or repayable as drawback to any person against exports under the Customs and Central Excise
Duties Drawback Rules, 1971.
7 28(iiid) Profit on transfer of Duty Entitlement Pass Book Scheme, under Section 5 of Foreign Trade (Development and Regulation) Act, 1992
8 28(iiie) Profit on transfer of Duty Free Replenishment Certificate, under Section 5 of Foreign Trade (Development and Regulation) Act 1992
9 28(iv) Value of any benefits or perquisites arising from a business or the exercise of a profession.
10 28(v) Interest, salary, bonus, commission or remuneration due to or received by a partner from partnership firm
11 28(va) a) Any sum received or receivable for not carrying out any activity in relation to any business or profession; or
b) Any sum received or receivable for not sharing any know-how, patent, copyright, trademark, licence, franchise, or any other
business or commercial right or information or technique likely to assist in the manufacture of goods or provision of services.
12 28(vi) Any sum received under a Key man Insurance policy including the sum of bonus on such policy
12A. 28(via) Any profit or gains arising from conversion of inventory into capital asset.
13 28(vii) Any sum received ( or receivable) in cash or in kind, on account of any capital assets (other than land or goodwill or financial
instrument) being demolished, destroyed, discarded or transferred, if the whole of the expenditure on such capital assets has been
allowed as a deduction under section 35AD
13 28(vii) Any sum received ( or receivable) in cash or in kind, on account of any capital assets (other than land or goodwill or financial
instrument) being demolished, destroyed, discarded or transferred, if the whole of the expenditure on such capital assets has been
allowed as a deduction under section 35AD
14 Explanation Income from speculative transactions. However, it shall be deemed to be distinct and separate from any other business.
to section 28
15 41(1) • Remission or cessation of liability in respect of any loss, expenditure or trading liability incurred by the taxpayers
• Recovery of trading liability by successor which was allowed to the predecessor shall be chargeable to tax in the hands of successor.
Succession could be due to amalgamation or demerger or succession of a firm succeeded by another firm or company, etc.
• Any liability which is unilaterally written off by the taxpayer from the books of accounts shall be deemed as remission or cessation
of such liability and shall be chargeable to tax.
16 41(2)
Depreciable asset in case of power generating units, is sold, discarded, demolished or destroyed, the amount by which sale
consideration and/ or insurance compensation together with scrap value exceeds its WDV shall be chargeable to tax.
17 41(3)
Where any capital asset used in scientific research is sold without having been used for other purposes and the sale proceeds
together with the amount of deduction allowed under section 35 exceed the amount of the capital expenditure, such surplus or the
amount of deduction allowed, whichever is less, is chargeable to tax as business income in the year in which the sale took place.
18 41(4)
Where bad debts have been allowed as deduction under Section 36(1)(vii) in earlier years, any recovery of same shall be chargeable
to tax.
19 41(4A)
Amount withdrawn from special reserves created and maintained under Section 36(1)(viii) shall be chargeable as income in the
previous year in which the amount is withdrawn.
20 41(5)
Loss of a discontinued business or profession could be adjusted from the deemed business income as referred to in
section 41(1), 41(3), (4) or (4A) without any time limit.
20A. 43AA Any foreign exchange gain or loss arising in respect of specified foreign currency transactions shall be treated as income or loss. Such
gain or loss shall be computed in accordance with notified ICDS [subject to Section 43A]
21 43CA
Where consideration for transfer of land or building or both as stock-in-trade is less than the stamp duty value, the value so adopted
shall be deemed to be the full value of consideration for the purpose of computing income under this head.
21 43CA
However, no such adjustment is required to be made if value adopted for stamp duty purposes does not exceed 105% of the sale
consideration.
21A. 43CB The profits and gains arising from construction contract or a contract for providing service is to be determined on the basis of
percentage completion method, in accordance with the notified ICDS.
In case of contract for providing services with duration of not more than 90 days, the profits and gains shall be determined on basis
of project completion method.
While as in case of contract for providing services with indeterminate number of acts over a specified period of time shall be
determined on basis of straight line method.
22 43D As per RBI Guidelines, Interest on bad and doubtful debts of Public Financial Institution or Scheduled Bank or [a co-operative bank
other than a primary agricultural credit society or a primary co-operative agricultural and rural development bank] or State Financial
Corporation or State Industrial Investment Corporation, shall be chargeable to tax in the year in which it is credited to Profit and Loss
A/c or year in which it is actually received, whichever happens earlier.
23 43D
Similarly as per NHB Guidelines, Interest on bad and doubtful debts of housing finance company, shall be chargeable to tax, in the
year it is credited to P & L A/c or year in which it is actually received by them, whichever is earlier.
24 —
Assistance in the form of a subsidy or grant or cash incentive or duty drawback or waiver or concession or reimbursement (by
whatever name called) by the Central Govt. or State Govt. or any authority or body or agency to the assessee would be included in
definition of income as referred to in Section 2(24). However, in the following cases subsidy or grant shall not be treated as income:
i) The subsidy or grant or reimbursement which is taken into account for determination of the actual cost of the asset in accordance
with the provisions of Explanation 10 to clause (1) of Section 43;
ii) The subsidy or grant by the Central Government for the purpose of the corpus of a trust or institution established by the Central
Government or a State Government, as the case may be.
32(1)(i) Depreciation on Allowed at prescribed percentage on Straight Line Method for Assessees engaged in business of
each asset generation or generation and
i) buildings, machinery, plant or furniture, distribution of power
being tangible assets;
ii) know-how, patents, copyrights, trademarks, Provided that where an asset is acquired by the assessee during Note:
licenses, franchises, or any other business or the previous year and is put to use for a period of less than one
commercial rights of similar nature, being hundred and eighty days in that previous year, the deduction in Taxpayers engaged in the business
intangible assets respect of such asset shall be restricted to fifty per cent of the of generation or generation and
amount calculated at the percentage prescribed for an asset. distribution of power shall have the
option to claim depreciation either
on basis of straight line basis
method or written down value
method on each block of asset.
32(1)(ii) Depreciation on Allowed at prescribed percentage on WDV method for each All assessees
block of asset
i) buildings, machinery, plant or furniture, Provided that where an asset is acquired by the assessee during
being tangible assets; the previous year and is put to use for a period of less than one
hundred and eighty days in that previous year, the deduction in
ii) know-how, patents, copyrights, trademarks, respect of such asset shall be restricted to fifty per cent of the
licenses, franchises, or any other business or amount calculated at the percentage prescribed for an asset.
commercial rights of similar nature, being
intangible assets
32(1)(iia) Additional depreciation on new plant and Additional depreciation shall be available @20 % of the actual All assessee engaged in
machinery (other than ships, aircraft, office cost of new plant and machinery.
appliances, second hand plant or machinery,
etc.).
(subject to certain conditions)
Proviso Additional depreciation on new plant and Additional depreciation shall be available @35 % of the actual All assessees- where an assessee
to Section machinery (other than ships, aircraft,office cost of new plant and machinery. sets up an undertaking or
32(1) appliances, second hand plant or machinery, enterprise for production or
(iia) etc.)) manufacture of any article or thing
in any notified backward area in
state of the state of Andhra
Pradesh, Bihar, Telangana or West
Bengal.
32AC Deduction under section 32AC is available if 15% of actual cost of new asset Company engaged in business or
actual cost of new plant and machinery manufacturing or production of
acquired and installed by a manufacturing any article or thing
company during the previous year exceeds Rs.
25/100 Crores, as the case may be.(Subject to
certain conditions)
32AD Investment allowance for investment in new Investment allowance shall be available @15 % of the actual All assessee who acquired new
plant and machinery if manufacturing unit is cost of new plant and machinery in the year of installation of plant and machinery for the
set-up in the notified backward area in the new asset. purpose of setting-up
state of Andhra Pradesh, Bihar, Telangana or manufacturing unit in the notified
West Bengal(Subject to certain conditions) backward area in the state of
Note:- Andhra Pradesh, Bihar, Telangana
1) New asset should be acquired and installed during the period or West Bengal
beginning on the 1st day of April, 2015 and ending before the
1st day of April, 2020.
35(1)(ii) Contribution to approved research 175% of sum paid to such association, university, college, or All assessee
association, university, college or other other institution is allowed as deduction.
institution to be used for scientific research
shall be allowed as deduction (Subject to 150% of sum paid to such association, university, college or
certain conditions) other institution is allowed as deduction (applicable from AY
2018-19)
35(1)(iia) Contribution to an approved company 125% of sum paid to the company is allowed as deduction All assessee
registered in India to be used for the purpose
of scientific research is allowed as deduction
(Subject to certain conditions) Entire sum paid to the company is allowed as deduction
(applicable from AY 2018-19)
35(1)(iii) Contribution to approved research 125% of sum paid to such association, university, college, or All assessee
association, university, college or other other institution is allowed as deduction
institution with objects of undertaking
statistical research or research in social Entire sum paid to such association, university, college or other
sciences shall be allowed as deduction institution is allowed as deduction
(Subject to certain conditions)
(applicable from AY 2018-19)
35(1) Capital expenditure incurred during the year Entire capital expenditure incurred on scientific research is All assessee
(iv)read on scientific research relating to the business allowed as deduction.
with 35(2) carried on by the assessee is allowed as
deduction (Subject to certain conditions) Capital expenditure incurred within 3 years before
commencement of business is allowed as deduction in the year
of commencement of business.
Note:
ii. No depreciation shall be allowed on such assets.
35(2AA) Payment to a National Laboratory or 200% of payment is allowed as deduction (Subject to certain All assessee
University or an Indian Institute of Technology conditions).
or a specified person is allowed as deduction.
150% of payment is allowed as deduction (applicable from AY
2018-19)
35ABA Capital expenditure incurred and actually paid Deduction will be available in equal installments starting from All Assessee engaged in
for acquiring any right to use spectrum for the year in which actual payment is made and ending in the telecommunication services
telecommunication services shall be allowed year in which spectrum comes to an end.
as deduction over the useful life of the
spectrum.
Note:
If spectrum fee is actually paid before the commencement of
business, the deduction will be available from the year in which
business is commenced.
35ABB Capital expenditure incurred for acquiring any Deduction would be allowed in equal installments starting from All Assessee engaged in
license or right to operate telecommunication the year in which such payment has been made and ending in telecommunication services
services shall be allowed as deduction over the year in which license comes to an end.
the term of the license.
35AC Expenditure by way of payment of any sum to Actual payment made to prescribed entities. However, a All assessee. However, deduction
a public sector company/local company can also claim deduction for expenditure incurred by for direct expenditure is allowed
authority/approved association or institution it directly on eligible projects. only to a company
for carrying out any eligible scheme or project
(Subject to certain conditions).
35AC Expenditure by way of payment of any sum to Actual payment made to prescribed entities. However, a All assessee. However, deduction
a public sector company/local company can also claim deduction for expenditure incurred by for direct expenditure is allowed
authority/approved association or institution it directly on eligible projects. only to a company
for carrying out any eligible scheme or project
(Subject to certain conditions).
Note:-
No deduction in any A.Y. commencing on or after the 1st day of
April, 2018
35AD Deduction in respect of `expenditure on 150% of capital expenditure incurred for the purpose of All assessee
specified businesses, as under: business is allowed as deduction provided the specified
business has commenced its operation on or after 01-04-2012.
a) Setting up and operating a cold chain facility
b) Setting up and operating a warehousing 100% of capital expenditure will be allowed to be deducted
facility for storage of agricultural produce from the assessment year 2018-19 onwards
d) Developing and building a housing project Note: No deduction of any capital expenditure above Rs 10,000
under a notified scheme for affordable shall be allowed if it is incurred in cash.
housing
a) Laying and operating a cross-country Note: No deduction of any capital expenditure above Rs 10,000 Note: Such deduction is available to
natural gas or crude or petroleum oil pipeline shall be allowed if it is incurred in cash. Indian company in case of
network for distribution, including storage following business, namely;-
facilities being an integral part of such
network;
network for distribution, including storage following business, namely;-
facilities being an integral part of such
network;
35CCC Expenditure (not being cost of land/ building) 150% of the expenditure (Subject to certain conditions) All assessee
incurred on notified agricultural extension
project for the purpose of training, educating Note:-
and guiding the farmers shall be allowed as 100% deduction shall be allowed from the 1st day of April, 2021
deduction, provided the expenditure to be
incurred is expected to be more than Rs. 25
lakhs (Subject to certain conditions).
35CCD Expenditure incurred by a company (not being 150% of the expenditure (Subject to certain conditions) Company engaged in
expenditure in the nature of cost of any land manufacturing of any article or
or building) on any notified skill development Note: providing specified services
project is allowed as deduction (Subject to (i) No deduction shall be allowed to a company engaged in
certain conditions). manufacturing alcoholic spirits or tobacco products.
35D An Indian company can amortize certain Qualifying preliminary expenditure is allowable in each of 5 Indian Company
preliminary expenses (up to maximum of 5% successive years beginning with the previous year in which the
of cost of the project or capital employed, extension of undertaking is completed or the new unit
whichever is more) (Subject to certain commences production or operation.
conditions and nature of expenditures)
35D Non-corporate taxpayers can amortize certain Qualifying preliminary expenditure is allowable in each of 5 Resident Non-corporate assessees
preliminary expenses (up to maximum of 5% successive years beginning with the previous year in which the
of cost of the project) (Subject to certain extension of undertaking is completed or the new unit
conditions and nature of expenditures) commences production or operation.
35DD Expenditure incurred after 31-3-1999 in Expenditure is allowed as deduction in five equal installments Indian Company
respect of amalgamation or demerger can be in 5 previous years starting with the year in which
amortized by an Indian Company amalgamation or demerger took place.
35DD Expenditure incurred after 31-3-1999 in Expenditure is allowed as deduction in five equal installments Indian Company
respect of amalgamation or demerger can be in 5 previous years starting with the year in which
amortized by an Indian Company amalgamation or demerger took place.
35DDA Expenditure incurred under Voluntary Each payment under VRS is allowed as deduction in five equal All Assessee
Retirement Scheme is allowed as deduction. installments in 5 previous years.
35E Qualifying expenditure incurred by resident Eligible expenditure is allowed as deduction in ten equal Resident persons
persons on prospecting for the minerals or on installments in 10 previous years.
the development of mine or other natural
deposit of such minerals shall be allowed as
deduction (Subject to certain conditions).
36(1)(i) Insurance premium covering risk of damage or Actual expenditure incurred All Assessee
destruction of stocks/stores
36(1)(ia) Insurance premium covering life of cattle Actual expenditure incurred All Assessee
owned by a member of co-operative society
engaged in supplying milk to federal milk co-
operative society
36(1)(ib) Medical insurance premium paid by any mode Actual expenditure incurred All Assessee
other than cash, to insure employee’s health
under (a) scheme framed by GIC of India and
approved by Central Government; or (b)
scheme framed by any other insurer and
approved by IRDA
36(1)(ii) Bonus or commission paid to employees Actual expenditure incurred All Assessee
which would not have been payable as profit
or dividend if it had not been paid as bonus or
commission
36(1)(iii) Interest on borrowed capital (Subject to Interest paid in respect of capital borrowed for the purposes of All Assessee
certain conditions) the business or profession shall be allowed as deduction.
However, if capital is borrowed for acquiring an asset, then
interest for any period beginning from the date on which
capital was borrowed till the date on which asset was first put
to use, shall not be allowed as deduction.
36(1)(iii) Interest on borrowed capital (Subject to Interest paid in respect of capital borrowed for the purposes of All Assessee
certain conditions) the business or profession shall be allowed as deduction.
However, if capital is borrowed for acquiring an asset, then
interest for any period beginning from the date on which
capital was borrowed till the date on which asset was first put
to use, shall not be allowed as deduction.
36(1)(iiia) Discount on Zero Coupon Bonds (Subject to Pro-rata amount of discount on zero coupon bonds shall be Specified Assessee
certain conditions) allowed as deduction over the life of such bond
36(1)(iva) Any sum paid by assessee-employer by way of Actual expenditure not exceeding 10% of the salary* of the All Assessee - Employer
contribution towards a pension scheme, as employee
referred to in section 80CCD, on account of an
employee. *Salary = Basic Pay + Dearness Allowance (to the extent it
forms part of retirement benefits)+ turnover based commission
36(1)(v) Employer’s contribution towards approved Actual expenditure not exceeding 8.33% of salary of each All Assessee - Employer
gratuity fund created exclusively for the employee
benefit of employees under an irrevocable
trust shall be allowed as deduction (Subject to
certain conditions).
36(1)(va) Deposit of employee’s contributions in their Actual amount received if credited to the employee’s account in All Assessee - Employer
respective provident fund or superannuation relevant fund on or before due date specified under relevant
fund or any fund set up under Employees’ Act
State Insurance Act, 1948
36(1)(vi) Allowance in respect of animals which have Actual cost of acquisition of such animals less realization on All Assessee
died or become permanently useless (Subject sale of carcasses of animals
to certain conditions)
36(1)(vii) Bad debts which have been written off as Actual bad debts which have been written off from books of All Assessee
irrecoverable (Subject to certain conditions) accounts
Note:-
However, if amount of debt or part thereof has been taken into
account in computing the income of assessee on basis of
income computation and disclosure standards notified under
Section 145(2) without recording the same in accounts then,
such debt shall be allowed in the previous year in which such
debt or part therof becomes irrecoverable. It shall be deemed
that such debt or part thereof has been written off as
irrecoverable in the accounts.
36(1)(viia) Deductions for provision for bad and doubtful Deductions for provision for bad and doubtful debts shall be Banks, Public Financial Institutions,
debts created by certain banks, financial limited to following: Non-banking financial company,
institutions and non-banking financial State Financial Corporation, State
company (Subject to certain conditions). (a) In case of scheduled and non-scheduled banks: Sum not Industrial Investment Corporations
exceeding aggregate of 8.5% of total income (before any
deductions under this provision and Chapter VI-A) and 10% of
Note aggregate average advances made by rural branches of such
bank;
Deduction in respect of bad debts actually
written off under section 36(1)(vii) shall be
limited to that amount of bad debts which (b) In case of Financial Institutions: Up to 5% of total income
exceed the provision for bad and doubtful before any deductions under this provision and Chapter VI-A;
debts created under section 36(1)(viia). and
36(1)(xii) Any expenditure incurred by a notified Actual expenditure incurred (not being in the nature of capital Notified corporations
corporation or body corporate constituted or expenditure)
established by a Central, State or Provincial
Act, for the objects and purposes authorized
by the respective Act is allowed as deduction
36(1)(xiv) Contribution to Credit Guarantee Trust Fund Actual expenditure incurred Public Financial Institutions
for micro and small industries is allowed as
deduction
36(1)(xv) Securities Transaction Tax paid Actual expenditure incurred if corresponding income is All Assessee
included as income under the head profits and gains of
business or profession
36(1)(xvi) Amount equal to commodities transaction tax Actual expenditure incurred if corresponding income is All Assessee
paid by an assessee in respect of taxable included as income under the head profits and gains of
commodities transactions entered into in the business or profession
course of his business during the previous
year is allowed as deduction
36(1)(xvii) Amount of expenditure incurred by a co- Deduction would be allowed the extent of lower of following: Co-operative society engaged in the
operative society engaged in the business of business of manufacture of sugar
manufacture of sugar for purchase of a) Actual purchase price of sugarcane, or
sugarcane. b) Price of sugarcane fixed or approved by the Government
36(1)(xviii) Marked to market loss or other unexpected Actual losses incurred All assessee
loss as computed in accordance with notified
ICDS
37(1) Any other expenditure [not being personal or Actual expenditure incurred All Assessee
capital expenditure and expenditure
mentioned in sections 30 to 36] laid out
wholly and exclusively for purposes of
business or profession
:
However, if tax is deducted or deposited in subsequent year, as the case may be, the expenditure shall be allowed as deduction in
that year.
40(a)(ia) Any sum payable to a resident, which is subject to deduction of tax at source, would attract 30% disallowance if it was paid without deduction of
tax at source or if tax was deducted but not deposited with the Central Government till the due date of filing of return.
:
However, where in respect of any such sum, tax is deducted or deposited in subsequent year, as the case may be, the expenditure so
disallowed shall be allowed as deduction in that year.
40(a)(ib) Any sum paid or payable to a non-resident which is subject to a deduction of Equalisation levy would attract disallowance if such sum was paid
without deduction of such levy or if it was deducted but not deposited with the Central Government till the due date of filing of return.
: However, where in respect of any such sum, Equalisation levy is deducted or deposited in subsequent year, as the case may be, the
expenditure so disallowed shall be allowed as deduction in that year.
: Note: This provision has beeninserted by the Finance Act, 2016, w.e.f. 1-6-2016
40(a)(ii) Any sum paid on account of any rate or tax levied on the profits and gains of business or profession is not deductible
40(a)(iia) Wealth-tax or any other tax of similar nature shall not be deductible
40(a)(iib) Amount paid by way of royalty, license fee, service fee, privilege fee, service charge or any other fee or charge, by whatever name called, which is
levied exclusively on (or any amount appropriated) a State Government undertaking by the State Government shall not be deductible.
40(a)(iii) Salaries payable outside India, or in India to a non-resident, on which tax has not been paid/deducted at source is not deductible.
40(a)(iv)
Payments to provident fund or other funds for employees’ benefit shall not be deductible if no effective arrangements have been made to ensure
deduction of at source from payments made from such funds to employees which shall be chargeable to tax as ‘salaries’.
40(a)(v)
Tax paid by the employer on non-monetary perquisites provided to employees is not deductible if the tax so paid is not taxable in the hands of
employees by virtue of Section 10(10CC).
40(b) Following sum paid by a partnership firm to its partners shall not be allowed to be deducted:
1) Salary, bonus, commission or remuneration paid to non-working partners;
2) Remuneration or interest paid to the partners is not in accordance with the terms of the partnership deed;
3) Interest to partners is in accordance with the terms of the partnership deed but exceeds 12% per annum;
Remuneratio
4)
n or interest Interest to partners is in accordance with the terms of the partnership deed but exceeds 12% per annum;
to partners
5) is Remuneration to partners is in accordance with the terms of the partnership deed but exceeds the following permissible limit:
in
accordance
with the
terms of the
partnership
5) Remuneration to partners is in accordance with the terms of the partnership deed but exceeds the following permissible limit:
a) On first Rs. 3 Lakhs of book profit or in case of loss - Rs. 1,50,000 or 90% of book profit, whichever is more;
b) On the balance of the book profit - 60% of book profit
40(ba) Interest, salary, bonus, commission or remuneration paid by Association of Persons or Body of Individuals to its members shall not be allowed as
deduction (Subject to certain conditions).
40A(2) Any payment to related parties (relatives, directors, partner, member of HUF/AOP, person who has substantial interest in business of the taxpayer,
etc.) in respect of any expenditure shall be disallowed to the extent such expenditure is considered excessive or unreasonable by the Assessing
Officer having regard to its fair market value.
40A(3)/
(3A)
An expenditure, which is otherwise deductible under any provision of the Act, shall be disallowed if payment thereof has been made otherwise
than by account payee cheque/bank draft or use of electronic clearing system through a bank account and it exceeds Rs. 10,000 (Rs. 35,000 in case
of payment made for plying, hiring or leasing goods carriages) in a day (Subject to certain conditions and exceptions).
40A(7) Provision for payment of gratuity to employees, other than a provision for contribution to approved gratuity fund, shall not be allowed as
deduction (Subject to specified conditions).
: Gratuity actually paid (or payable) during the year and contribution to approved gratuity fund is allowed as deduction.
40A(9) Any sum paid as an employer for setting up or as contribution to any fund, trust, company, AOP, BOI, Society or other institution (other than
recognized provident fund, approved superannuation fund, approved gratuity fund or pension scheme referred to in section 80CCD) shall not be
allowed as deduction deduction if such contribution or payment is not required by any law.
40(A)(13) No deduction shall be allowed in respect of marked to market loss or other unexpected loss except as allowable under section 36(1)(xviii).
44BBA Income of a non-resident engaged in the 5% of specified sum shall be deemed to be the Non-resident engaged in the business of
business of operation of aircraft shall be presumptive income operating of aircraft
computed on presumptive basis (Subject to
certain conditions).
44BBB Income of a foreign company engaged in the 10% of specified sum shall be deemed to be the Foreign Company
business of civil construction or the business presumptive income
of erection of plant or machinery or testing or
commissioning thereof, in connection with
turnkey power projects shall be computed on
presumptive basis (Subject to certain
conditions).
44C Deduction for Head office Expenditure Deduction for head-office expenditure shall be limited Non-resident
(Subject to certain conditions and limits) to lower of following:
44AA Compulsory maintenance of books of account - Other business or 1) If total sales, turnover or gross receipts exceeds Rs. 25,00,000 in
profession (Subject to certain conditions and circumstances) any one of the three years immediately preceding the previous
year; or
44AB Compulsory Audit of books of accounts (Subject to certain 1) If total sales, turnover or gross receipts exceeds Rs. 2 Crore in any
conditions and circumstances) previous year, in case of business; or
Note: If an assessee opts out of the presumptive taxation Note: Presumptive income shall be calculated at rate of 6% in respect of
scheme, after a specified period, he cannot choose to total turnover or gross receipts which is received by an account
revert back to the presumptive taxation scheme for a payee cheque or draft or use of electronic clearing system.
period of five assessment years thereafter. [section
44AD(4)]
(Subject to conditions)
44ADA Income from eligible profession u/s 44AA(1) can be computed on Presumptive income of such profession shall be 50% of total gross receipt.
presumptive basis if the total gross receipts from such profession do
not exceed fifty lakh rupees in a previous year.
(Subject to conditions)
44AE Presumptive income from business of plying, hiring or leasing of For Heavy Goods Rs. 1,000 per ton of gross vehicle weight for every
goods carriage if assessee does not own more than 10 goods Vehicle: month or part of a month during which the heavy
carriage. goods vehicle is owned by assessee.
For Other Goods Rs. 7,500 for every month or part of a month during
Vehicle: which the goods carriage is owned by assessee.
Note: 'Heavy goods vehicle' means goods carriage vehicle the gross
vehicle weight of which exceeds 12,000 kilograms.
Home
ar
s
rol Act, 1947
eme of Government of
yers
the hands of successor.
mpany, etc.
emission or cessation
y which sale
to tax.
e shall be chargeable
as income in the
to in
determined on basis
f time shall be
a co-operative bank
ank] or State Financial
dited to Profit and Loss
bursement (by
would be included in
be treated as income:
he asset in accordance
Assessee
gaged in business of
r generation and
of power
engaged in
- where an assessee
ndertaking or
r production or
of any article or thing
d backward area in
tate of Andhra
ar, Telangana or West
gaged in business or
ng or production of
thing
engaged in business of
or, or extraction or
f, petroleum or natural
n India
gaged in business of
gy or in any business
uring or production of
es or things
engaged in
ication services
engaged in
ication services
However, deduction
penditure is allowed
mpany
eduction is available to
any in case of
siness, namely;-
f laying and operating
try natural gas or crude
m oil pipeline network
g or maintaining and
developing,
and operating a new
e facility.
gaged in
ng of any article or
ecified services
any
n-corporate assessees
any
any
sons
essee
- Employer
- Employer
- Employer
c Financial Institutions,
financial company,
al Corporation, State
estment Corporations
ancial corporations or
any
porations
ial Institutions
society engaged in the
manufacture of sugar
wed as deduction in
without deduction of
tible.
ermissible limit:
ermissible limit:
en made otherwise
000 (Rs. 35,000 in case
be allowed as
duction.
tion (other than
80CCD) shall not be
n 36(1)(xviii).
income:-
ties or services, etc.
l oil, etc.
ign currency (to
reign exchange rates
y on actual payment of
acquired by the
ift, will etc. from the
st of acquisition in the
ment made
able to
in shipping business
in activities
ration of mineral oils
in the business of
s receipts exceed Rs.
he previous year
ate of 6% in respect of
eived by an account
earing system.
of a month during
d by assessee.
Municipal taxes including service-taxes levied by any local authority in respect of house property is allowed as deduction, if:
(a) Taxes are borne by the owner; and
(b) Taxes are actually paid by him during the year.
3 Net Annual Value Rs 17,500
4 Less: Standard deduction at 30% [Section 24(a)] Rs 5,250
30% of net annual value of the house property is allowed as deduction if property is let-out during the previous year.
5 Less: Interest on borrowed capital [Section 24(b)] Rs 45,000
(a) In respect of let-out property, actual interest incurred on capital borrowed for the purpose of acquisition,
construction, repairing, re-construction shall be allowed as deduction
(b) In respect of self-occupied residential house property, interest incurred on capital borrowed for the purpose of
acquisition or construction of house property shall be allowed as deduction up to Rs. 2 lakhs. The deduction shall be
allowed if capital is borrowed on or after 01-04-1999 and acquisition or construction of house property is completed
within 5 years.
(c ) In respect of self-occupied residential house property, interest incurred on capital borrowed for the purpose of
reconstruction, repairs or renewals of a house property shall be allowed as deduction up to Rs. 30,000.
* Deduction for interest on borrowed capital shall be limited to Rs. 30,000 in following circumstances:
(a) If capital is borrowed before 01-04-1999 for the purpose of purchase or construction of a house property;
(b) If capital is borrowed on or after 01-04-1999 for the purpose of re-construction, repairs or renewals of a house
property;
(c ) If capital is borrowed on or after 01-04-1999 but construction of house property is not completed within five years
from end of the previous year in which capital was borrowed.
(a) Loan has been sanctioned by Financial institution during the financial year 2016-17;
(b) The amount of loan sanctioned does not exceed Rs 35,00,000;
(c ) The value of residential property does not exceed Rs 50,00,000;
(d) The assessee does not own any residential house property on the date of sanction of loan;
(e) Where deduction has been allowed under this section, no deduction shall be allowed in respect of such interest under any other provision.
: Computation of Income from House Property
S. No. Property Type Gross Annual Deduction Net Standard Interest on borrowed capital
Value of the for Annual Deduction
property municipal Value of
taxes the
property
1 Self-occupied house Nil Nil Nil Nil Deduction for interest on borrowed capital is
property/properties allowed up to Rs. 30,000 or Rs. 2,00,000, as the
case may be.
2 House property could not be Nil Nil Nil Nil Deduction for interest on borrowed capital is
occupied by the owner due to allowed up to Rs. 30,000 or Rs. 2,00,000, as the
employment or business case may be.
carried on at any other place
3 Let out property To be computed Allowed on Gross annual 30% of Net Entire amount of interest paid or payable on
as per provisions actual value lessMu Annual Value borrowed capital shall be allowed as deduction.
of Section 23(1) payment basis nicipal taxes Pre-construction interest shall be allowed as
deduction in 5 annual equal installments (Subject
to certain conditions).
4 More than two-self occupied Only two properties selected by the taxpayer will be considered as self-occupied house properties and all other
properties properties shall be deemed to be let-out for the purpose of computation of income under the head house
property.
5 Self-occupied The house will be taken as let-out property and no concession shall be available for the duration during which
property/properties let-out for the property was self-occupied.
the part of the year
6 One part of the property is let- Each part of the property shall be considered as separate property and income will be computed accordingly
out and other part is used for
self-occupied purposes
D Composite Rent:
If letting out of building along with movable assets i.e., machinery, plan, furniture or fixtures, etc. forms part of a single transaction and are inseparable,
the composite rent shall be taxable under the head “Profits and gains from business or profession” or “Income from other sources”, as the case may be.
On the other hand, if the letting out of building is separable from letting of other assets, then income from letting out of building shall be taxable under
the head “Income from house property” and income from letting out of other assets shall be taxable under the head “Profits and gains from business or
profession” or “Income from other sources”, as the case may be.
Amount
Rs 18,000
Rs 15,000
Rs 18,000
Rs 500
Rs 17,500
Rs 5,250
Rs 45,000
Rs (32,750)
spect of two self-
000 or Rs. 2,00,000,
s deduction in five
ouse property
other provision.
wed capital
owed capital is
. 2,00,000, as the
owed capital is
. 2,00,000, as the
or payable on
wed as deduction.
be allowed as
nstallments (Subject
uted accordingly
nd are inseparable,
s the case may be.
l be taxable under
ns from business or
d to be deducted
for adequate
er spouse, not being
to live apart, or to a
all be deemed to be
red;
eemed to be the
ised in the estate;
ny or other
r part thereof is
heme shall be
part thereof;
ossession of any
of a contract of the
sfer of Property Act,
at building or part
1 SALARY
: Salary is defined to include:
(a) Wages
(b) Annuity
(c) Pension
(d) Gratuity
(e) Fees, Commission, Perquisites, Profits in lieu of or in addition to Salary or Wages
(f) Advance of Salary
(g) Leave Encashment
(h) Annual accretion to the balance of Recognized Provident Fund
(i) Transferred balance in Recognized Provident Fund
(j) Contribution by Central Government or any other employer to Employees Pension Account as referred in Sec. 80CCD
10(14) read Tribal area allowance in (a) Madhya Pradesh (b) Tamil
with Rule 2BB Nadu (c) Uttar Pradesh (d) Karnataka (e) Tripura (f) Assam
(g) West Bengal (h) Bihar (i) Orissa
(a) If house property is owned by the employer, the taxable value of perquisite shall be:
i 15% of salary, if population of city where accommodation is provided exceeds 25 lakhs
ii 10% of salary, if population of city where accommodation is provided exceeds 10 lakhs but does not exceed 25
iii lakhs
7.5% of salary, if accommodation is provided in any other city
(b) If house property is taken on lease or rent by the employer, the taxable value of perquisite shall be: i. Lease rent
paid or payable by the employer or 15% of the salary, whichever is lower
Note: Key point relating to Salary in this purpose
*Salary includes:
(a) Basic Pay, (b) Dearness Allowance (only to the
extent it forms part of retirement benefit salary),
(c) Bonus,(d) Commission,(e) All other allowances
(only taxable portion),(f) Any monetary payment
which is chargeable to tax
17(2)(i)/(ii) Rent free furnished accommodation-Taxable value of perquisites shall be computed in following manner:
read with Rule (a) Taxable value of perquisite assuming accommodation to be provided to the employee is unfurnished
3(1)
(b) Add: 10% of original cost of furniture and fixtures (if these are owned by the employer) or actual higher charges
paid or payable (if these are taken on rent by the employer).
read with Rule
3(1)
(c) Less: The value so determined shall be reduced by the amount of rent, if any, recovered from the employee
17(2)(viii) read Motor Car / Other Conveyance-Taxable value of perquisites (Motor Car (taxable only in case of specified employees
with Rule 3(2) except when car owned by the employee is used by him or members of his household wholly for personal purposes and
for which reimbursement is made by the employer)
➢ Amount paid by the employer, if purchased by the employer from outside agency
Note:
1. Any amount recovered from the employee shall be deducted from the taxable value of perquisite.
2. Taxable in case of specified employees only [See note 4]
17(2)(viii) read Education Facilities
with Rule 3(5)
(a) Find out the “maximum outstanding monthly balance” (i.e. the aggregate outstanding balance for each loan as
on the last day of each month);
(b) Find out rate of interest charged by the SBI as on the first day of relevant previous year in respect of loan for the
same purpose advanced by it;
(c) Calculate interest for each month of the previous year on the outstanding amount (mentioned in Step 1) at the
rate of interest given in Step 2
(d) From the total interest calculated for the entire previous year (step 3), deduct interest actually recovered, if any,
from employee
(e) The balance amount (Step 3-Step 4) is taxable value of perquisite
Nothing is taxable if:
i Loan in aggregate does not exceed Rs. 20,000; or
ii Loan is provided for treatment of specified diseases (Rule 3A) like neurological diseases, Cancer, AIDS, Chronic
renal failure, Hemophilia (specified diseases). However, exemption is not applicable to so much of the loan as
has been reimbursed to the employee under any medical insurance scheme.
(b) Tea, Coffee or Non-Alcoholic beverages and Snacks during working hours are tax free perquisites;
(c) Food in office premises or through non-transferable paid vouchers usable only at eating joints provided by an
employer is not taxable, if cost to the employer is Rs. 50(or less) per meal.
(b) Expenses incurred for official purposes shall not be a taxable perquisite provided complete details in respect of
such expenditure are maintained by the employer
17(2)(viii) read Free Recreation/ Club Facilities
with Rule 3(7) (a) Expenditure incurred by the employer towards annual or periodical fee etc. (excluding initial fee to acquire
(vi) corporate membership) less amount recovered from the employee is a taxable perquisite
(b) Expenses incurred on club facilities for the official purposes are exempt from tax.
(c) Use of health club, sports and similar facilities provided uniformly to all employees shall be exempt from tax.
1.1-B Used exclusively for the personal purposes of the employee or any member of his household.
Actual amount of expenditure incurred by the employer on the running and maintenance of motor car including
remuneration paid by the employer to the chauffeur and increased by the amount representing normal wear
and tear of the motor car at 10% per annum of the cost of vehicle less any amount charged from the employee for such
use is taxable value of perquisite.
1.1-C The motor car is used partly in the performance of duties and partly for personal purposes of the employee or
any member of his household.
Rs. 1,800 per month (plus Rs. 900 per month, if
chauffeur is also provided to run the motor car) shall be
taxable value of perquisite
1.2 Where maintenances and running expenses are met by the employee.
1.2-A Used wholly and exclusively in the performance of official duties.
Not a perquisite, hence, not taxable
1.2-B Used exclusively for the personal purposes of the employee or any member of his household
1.2-B
Expenditure incurred by the employer (i.e. hire charges, if car is on rent or normal wear and tear at 10% of actual
cost of the car, if car is owned by the employer) plus salary of chauffeur if paid or payable by the employer minus amount
recovered from the employee.
1.2-C The motor car is used partly in the performance of duties and partly for personal purposes of the employee or
any member of his household
2.1-A The reimbursement is for the use of the vehicle wholly and exclusively for official purposes
Fully exempt subject to maintenance of specified
documents
2.1-B The reimbursement is for the use of the vehicle exclusively for the personal purposes of the employee or any
member of his household (taxable in case of specified employee as well as non-specified employee)
2.1-C The reimbursement is for the use of the vehicle partly for official purposes and partly for personal purposes of
the employee or any member of his household.
2.1-C
3 Where the employee owns any other automotive conveyance and actual running and maintenance charges are met or
reimbursed by the employer
3.1 Reimbursement for the use of the vehicle wholly and exclusively for official purposes;
Fully exempt subject to maintenance of specified
documents
3.2 Reimbursement for the use of vehicle partly for official purposes and partly for personal purposes of the
employee.
Actual expenditure incurred by the employer as
reduced by Rs. 900 per month
17(2)(viii) read Transfer of movable assets by an employer to its
with Rule 3(7) employee
(viii)
(a) Computers, Laptop and Electronics items: Actual cost of asset less depreciation at 50% (using reducing balance
method) for each completed year of usage by employer less amount recovered from the employee
(b) Motor Car: Actual cost of asset less depreciation at 20% (using reducing balance method) for each completed
year of usage by employer less amount recovered from the employee
(c) Other movable assets: Actual cost of asset less depreciation at 10% (on SLM basis) for each completed year of
usage by employer less amount recovered from the employee.
17(2)(viii) read Any other benefit or amenity extended by employer to
with Rule 3(7) employee
(ix)
17(2)(viii) read
with Rule 3(7)
(ix)
However, expenses on telephones including a mobile phone incurred by the employer on behalf of employee
shall not be treated as taxable perquisite.
10(10CC) Tax paid by the employer on perquisites (not provided for
by way of monetary payments) given to employee
• If places of origin of journey and destination are connected by rail but the journey is performed by any other
mode of transport - Exemption up to air-conditioned first class rail fare by the shortest route.
• Where the places of origin of journey and destination are not connected by rail:
* Where a recognized public transport system exists - Exemption up to first Class or deluxe class fare by the
shortest
* Where route
no recognized public transport system exists - Exemption up to air conditioned first class rail fare by
shortest route.
Notes:
Proviso to Medical facilities in India
section 17(2) (a) Expense incurred or reimbursed by the employer for the medical treatment of the employee or his family
(spouse and children, dependent - parents, brothers and sisters) in any of the following hospital is not
chargeable to tax in the hands of the employee:
iii Hospital approved by the Chief Commissioner having regard to the prescribed guidelines for treatment of the
prescribed diseases.
(b) Medical insurance premium paid or reimbursed by the employer is not chargeable to tax.
Proviso to Medical facilities outside India
section 17(2)
D. Retirement Benefits
: Leave Encashment
10(10AA) Encashment of unutilized earned leave at the time of
retirement of Government employees
10(10AA) Encashment of unutilized earned leave at the time of
retirement of other employees (not being a Government
employee)
: Retrenchment Compensation
10(10B) Retrenchment Compensation received by a workman
under the Industrial Dispute Act, 1947 (Subject to certain
conditions).
10(10B) Retrenchment Compensation received by a workman
under the Industrial Dispute Act, 1947 (Subject to certain
conditions).
: Gratuity
10(10)(i) Gratuity received by Government Employees (Other than
10(10)(ii) employees of statutory corporations)
Death -cum-Retirement Gratuity received by other
employees who are covered under Gratuity Act, 1972
(other than Government employee) (Subject to certain
conditions).
: Provident Fund
Employee’s Provident Fund
F. Other Benefits
- Lump-sum payment made gratuitously or by way of
compensation or otherwise to widow or other legal heirs
of an employee who dies while still in active service
[Circular No. 573, dated 21-08-1990]
- Ex-gratia payment to a person (or legal heirs) by Central
or State Government, Local Authority or Public Sector
Undertaking consequent upon injury to the person or
death of family member while on duty [Circular No. 776,
dated 08-06-1999]
2 Educational Facilities
Taxable only in the hands of specified employees
Facility extended to Value of perquisite
Provided in the school owned by the employer
SALARY
ident Fund
Note:
i. Fully taxable, if HRA is received by an employee who is living
in his own house or if he does not pay any rent
ii. It is mandatory for employee to report PAN of the landlord
to the employer if rent paid is more than Rs. 1,00,000 [Circular
No. 08 /2013 dated 10-10-2013].
Fully Exempt.
Fully Exempt
Fully Exempt
Exempt subject to maximum of Rs. 14,000 per month for
defraying the services of an orderly and for meeting expenses
incurred towards secretarial assistant on contract basis.
Amount exempt from tax varies from Rs. 300 to Rs. 7,000 per
month.
Amount exempt from tax varies from Rs. 200 to Rs. 1,300 per
month.
Fully Taxable
Fully Taxable
Fully Taxable
Fully Taxable
Fully Taxable
Fully Taxable
Fully Taxable
Fully Taxable
Fully Taxable
License fees determined in accordance with rules framed by
Government for allotment of houses shall be deemed to be
the taxable value of perquisites.
Fully Taxable
Fully Taxable
hly balance” (i.e. the aggregate outstanding balance for each loan as
as on the first day of relevant previous year in respect of loan for the
ntire previous year (step 3), deduct interest actually recovered, if any,
000; or
diseases (Rule 3A) like neurological diseases, Cancer, AIDS, Chronic
s). However, exemption is not applicable to so much of the loan as
er any medical insurance scheme.
Nil
10% of original cost of the asset (if asset is owned by the
employer) or actual higher charges incurred by the employer
(if asset is taken on rent) lessamount recovered from
employee.
employees [See note 4] except when car owned by the employee is
wholly for personal purposes and for which reimbursement is made
Rs. 2,400 per month (plus Rs. 900 per month, if chauffeur is also
provided to run the motor car) shall be taxable value of perquisite
Rs. 900 per month (plus Rs. 900 per month, if chauffeur is also
provided to run the motor car) shall be taxable value of perquisite
hicle partly for official purposes and partly for personal purposes of
hold.
Actual expenditure incurred by the employer minus Rs. 2400 per
month and Rs. 900 per month if chauffer is also provided minusamount
recovered from employee shall be taxable value of perquisite.
Not Applicable
Fully exempt
Leave Encashment
Fully Exempt
Gratuity
Fully Exempt
Least of following amount is exempt from tax:
1. (*15/26) X Last drawn salary** X completed year of service
or part thereof in excess of 6 months.
2. Rs. 20,00,000
3. Gratuity actually received.
*7 days in case of employee of seasonal establishment.
** Salary = Last drawn salary including DA but excluding any
bonus, commission, HRA, overtime and any other allowance,
benefits or perquisite
2. Rs. 20,00,000
3. Gratuity actually received.
*Average salary = Average Salary of last 10 months
immediately preceding the month of retirement
** Salary = Basic Pay + DA (to the extent it forms part of
retirement benefits)+ turnover based commission
Pension
Fully Exempt
Fully Exempt
Fully Exempt
33.33% of Family Pension subject to maximum of Rs. 15,000
shall be exempt from tax
oluntary Retirement
Least of the following is exempt from tax:
1) Actual amount received as per the guidelines i.e. least of
the following
a) 3 months salary for each completed year of services
b) Salary at the time of retirement X No. of months of services
left for retirement; or
2) Rs. 5,00,000
Provident Fund
For taxability of contribution made to various employee’s
provident fund and interest arising thereon
nal Pension System (NPS)
Any payment from the National Pension System Trust to an
assessee on closure of his account or on his opting out of the
pension scheme referred to in section 80CCD, to the extent it
does not exceed 40% of the total amount payable to him at
the time of such closure or his opting out of the scheme.
Other Benefits
Fully exempt in the hands of widow or other legal heirs of
employee
Fully exempt in the hands of individual or legal heirs
Fully exempt
Fully exempt
ucational Facilities
ds of specified employees
Value of perquisite
Provided in any other school
er Educational Facilities
Taxable Value of Perquisites
Fully taxable
Fully exempt
rovident fund
Fully Exempt
Available
Fully Exempt
Fully Exempt
provident fund
Exempt only to the extent of 12% of salary*
Available
Exempt only to the extent rate of interest does not exceed
9.5%
Fully Exempt (Subject to certain conditions and circumstances)
d provident fund
Fully Exempt
Not Available
Fully Exempt
Fully Taxable (except employee’s contribution)
ovident fund
-
Available
Fully Exempt
Fully Exempt
points
rt of retirement benefits) + turnover based commission
nds of employees in following circumstances:
employer (including previous employer, when PF account is
ears or more
n reasons which are beyond his control (ill health, discontinuation of
Home Useful_Income_Tax_information__Fo
(T)- Periods of Limitation
(V)-Various Threshold_Limits
(V-A)-Basic_Exemption_201920
IMPORTANT INCOME (V-B)-Under_the_head_Salaries_1920
TAX INFORMATION (F.Y.
2019-20) -LIMITATION
& THRRESHOLD LIMITS (V-C)-Under_the_head_Income_from_House_Properties_2
("T" to "V")
(V-D)-Under_the_head_Income_from_House_Properties_1
(V-E)-For_Trust_1920
(V-F)-Deductions_under_Chapter_VI_A_1920
T PERIODS OF LIMITATION (fo
Nature of compliance Filing application for getting zero coupon bonds notified.
Section 2(48)
Limitation of time 3 months before the date of issue of bonds
Remarks (but not earlier than 24 months immediately before the first day of the
Limitation of time Not until expiry of 30 days from date on which proclamation of sale has
TRO, whichever is later
Threshold Limits
Rs. 50 lakh
(V-B)Under the head Salaries
Particulars Death -cum-Retirement Gratuity received by other employees who are n
Government employee)(Subject to certain conditions).
Section 10(10)
Threshold Limits (for Least of following amount is exempt from tax:1. 1/2 X Average Salary*
exemptions and Gratuity actually received.
others)
Remark [*Average salary = Average Salary of last 10 months immediately preced
Dearness Allowance (to the extent it forms part of retirement benefits)+ t
Threshold Limits
Threshold Limits However, if stamp duty value does not exceed 105% of the consideration
deemed to be the full value of consideration
Section 43CA
Remark
Section 2(15)
Threshold limits 25% of total receipts of financial year.
Remark (If activity is undertaken in course of carrying out of object of general pu
do not exceed )
Remark (If activity is undertaken in course of carrying out of object of general pu
do not exceed )
(V-F) Deductions under Chapter VI-A
Particulars Expenses actually paid by resident individual and HUF for medical treatm
remark..>
Section 80DDB
Threshold Limits Up to Rs. 40,000 (Rs. 1,00,000 in case of senior citizen)
Remark a) In case of Individual: Assessee himself or wholly dependent spouse, ch
HUF: Any member of the family who is wholly dependent upon the fami
x_information__For_Fin._Year_2019_20
(U)-Securities Transaction Tax
House_Properties_201920
House_Properties_1920
_1920
OF LIMITATION (for F.Y. 2019-20)
notified.
2(48)
fore the first day of the financial year in which bonds are to be issued)
Rs. 50 lakh
er employees who are not covered under Gratuity Act, 1972 (other than
tions).
10(10)
1/2 X Average Salary* X Completed years of service,2. Rs. 10,00,000,3.
Section
24(b)
Up to Rs. 30,000
on
sideration received on transfer of an immovable property, the stamp duty
sideration.
43CA
2(15)
t of object of general public utility and aggregate receipts from such activity
t of object of general public utility and aggregate receipts from such activity
HUF for medical treatment of specified diseases and ailments of: (see
80DDB
citizen)
lly dependent spouse, children, parents, brothers and sisters,b) In case of
ependent upon the family
Home
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Under the head
Profits and Gains
of Business or
Profession
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Home
Home Useful_Income_Tax_information__For_Fi
"A" to " J" Deduction available to different categor
Deduction (A)-Salaries
avaiable for
Fin. Year (C)-Income from other sources --Deductible_items
2019-20
against (E)-Profit and gains of business or profession--Deductible items
(G)-Capital Gains
(I)-Rebate
DEDUCTIONS
(A)- Against 'salaries'
Nature of Standard Deduction [Rs. 50,000 or the amount of salary, whichever is lower]
deduction
Section Who can claim
16(ia) Individual – Salaried Employee
(B)-Against 'income from house properties'
Nature of Standard deduction [30% of the annual value (gross annual value less municip
deduction
Section Who can claim
24(a) All assessees
(C ) - Against 'income from other sources'…(A. Deductible items)
Nature of Contributions to any provident fund or superannuation fund or any fund set up
deduction or any other fund for welfare of employees,
Nature of deduction
Investment in certain items (See view Deduction List for 80C)
UCTIONS
A
salary, whichever is lower]
B
ss annual value less municipal taxes)]
le items) C
ation fund or any fund set up under Employees' State Insurance Act, 1948
tible items) D
e India on which tax has not been paid or deducted at source
G
06 of certain listed securities or units invested in equity shares forming
in conditions and limits)
J
Who can claim
Individual/HUF
Deduction List for 80C
of deduction
und
of the Central Government. For this purpose, Sukanya Samriddhi
ted 21.01.2015.
l child Any sum
of an individual deposited
or in the name during
of thethe
girlyear
childinfor
Sukanya
whom such an
ertificates (VIII Issue)]
TI :
dividual, his spouse or any child of such individual
thereof
al Fund [Dhanaraksha 1989]
he individual, his spouse or any child of such individual
mber thereof
d set up by National Housing Bank [Home Loan Account
, 2008]
by an individual to any university, college, school or other educational
her children
e property
engaged in providing long-term finance for purchase/construction of
nder anyJeevan
ra/New law forDhara-I/New
satisfying need for housing
Jeevan accommodation
Akshay/New or for
Jeevan Akshay-I/New
und or the UTI (Equity Linked Saving Scheme, 2005)
mutual fund which is referred to in section 10(23D) or by the UTI (UTI
y approved eligible issue of capital made by a public company or public
to in section 10(23D), provided amount of subscription to such units is
scheduled bank, and which is in accordance with a scheme11 framed
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Income Tax Calculation and find out Tax Rate/Surcharge/Cess from Fin. Year 1985-86 to 2019-20
Design & Prepaired by Pravesh Kumar Sharma, Account
Hint Input value (in Rs ) where an errow sign 9460100093 or write mail to praveshbkn@gmail.com
query/error/updation/suggestion
Relevant Financial Year (Select F.Y.) 2019-20 Relevant Assesment Year
Tax Category (Select tax cate.) Male Basic Exemption
Gross Taxable Income Rs 20,000,100 Age Condition
(if it is defined)
Income Tax Rate for Fin.Year 2019-20
Less-: Ded. under chapter VI A Rs -
Total Income (Rounded off u/s 288A) Rs 20,000,100 Income Range
Income tax on Total Income Rs 5,812,530 Upto Rs. 250000
Less-: Rebate u/s 88 (Applicable upto F.Y. 2004-05 ) Rs - Rs. 250001 to 500000
Less-: Rebate u/s 88B (Applicable upto F.Y. 2004-05 ) Rs - Rs. 500001 to 1000000
Less-: Rebate u/s 88D (For F.Y. 2004-05) ( Not Applicable ) Rs - Above Rs. 1000000
Net Due Tax Rs 5,812,530 0
Surcharge If TI is >5000000 to 1000000
Less-: Rebate U/S 87A, if applicable Rs - to 20000000=15%, &
50000000=25%, & >
Surcharge (if any) ( Marginal relief Rs. 581188 ) Rs 871,945
E. Cess (Tax on Taxable Income-Rebate u/s 87A) Rs 267,379 Cess
Tax Liability Due Rs 6,951,854 For view complete list of Tax
1985-86 to 2019-20
Less-: Relief u/s 89(1) Rs -
Total Tax Liability Due Rs 6,951,854 Income
Less-: Tax Deducted Rs -
Net Tax Payable Rs 6,951,854 Rupees SixtyNine Lakh FiftyOne Thousand Eight H
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:10:58
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:10:58
20 Home
rma, Accountant, please call-
kn@gmail.com for further
uggestion
2010-21
Rs 250,000
(below 60 years)
.Year 2019-20
Tax Rate
0%
5%
20%
30%
0%
0000 to 10000000=10%, & > 10000000
20000000=15%, & >20000000 to
00000=25%, & >50000000=37%
4%
lete list of Tax Rate from
5-86 to 2019-20
Tax Rate
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:10:58
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:10:58
Home Useful_Income_Tax_information__Fo
(T)- Periods of Limitation
(V)-Various Threshold_Limits
(V-A)-Basic_Exemption_201819
IMPORTANT INCOME (V-B)-Under_the_head_Salaries_1819
TAX INFORMATION (F.Y.
2018-19) -LIMITATION
& THRRESHOLD LIMITS (V-C)-Under_the_head_Income_from_House_Properties_2
("T" to "V")
(V-D)-Under_the_head_Income_from_House_Properties_1
(V-E)-For_Trust_1819
(V-F)-Deductions_under_Chapter_VI_A_1819
T PERIODS OF LIMITATION (fo
Nature of compliance Issuance of certificate of tax deducted at source-Form No. 16
Section 203
Limitation of time : By 15th June of the financial year immediately following the financial y
Remarks Form No. 16A: On or before 15th August, 30th November, 30th Februa
30th June, 30th September & 31st December respectively of the fin
before 15th June of the financial year immediately following the financ
U Securities Transaction Tax [Financ
Nature of compliance Sale of immovable property without written consent of
defaulter
Limitation of time Not until expiry of 30 days from date on which proclamation of sale has
TRO, whichever is later
Threshold Limits
Rs. 50 lakh
(V-B)Under the head Salaries
Particulars Death -cum-Retirement Gratuity received by other employees who are n
Government employee)(Subject to certain conditions).
Section 10(10)
Threshold Limits (for Least of following amount is exempt from tax:1. 1/2 X Average Salary*
exemptions and Gratuity actually received.
others)
Remark [*Average salary = Average Salary of last 10 months immediately preced
Dearness Allowance (to the extent it forms part of retirement benefits)+ t
Threshold Limits
Threshold Limits However, if stamp duty value does not exceed 105% of the consideration
deemed to be the full value of consideration
Section 43CA
Remark
Section 2(15)
Threshold limits 25% of total receipts of financial year.
Remark (If activity is undertaken in course of carrying out of object of general pu
do not exceed )
Remark (If activity is undertaken in course of carrying out of object of general pu
do not exceed )
(V-F) Deductions under Chapter VI-A
Particulars Contribution to notified Pension Scheme (NPS) by an Individual (Subject
Section 80CCD
Threshold Limits Amount contributed to pension scheme or 10% of salary/gross total
Remark (subject to ceiling limit of Rs. 1,50,000 as provided under Section 80CCE
80CCD(1).
x_information__For_Fin._Year_2018_19
(U)-Securities Transaction Tax
House_Properties_201819
House_Properties_1819
_1819
OF LIMITATION (for F.Y. 2018-19)
Form No. 16
203
ollowing the financial year in which income was paid and tax deducted.
Rs. 50 lakh
er employees who are not covered under Gratuity Act, 1972 (other than
tions).
10(10)
1/2 X Average Salary* X Completed years of service,2. Rs. 10,00,000,3.
Section
24(b)
Up to Rs. 30,000
on
sideration received on transfer of an immovable property, the stamp duty
sideration.
43CA
2(15)
t of object of general public utility and aggregate receipts from such activity
t of object of general public utility and aggregate receipts from such activity
80CCD
% of salary/gross total income*, whichever is less
ed under Section 80CCE) shall be allowed as deduction under section
Home
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Under the head
Profits and Gains
of Business or
Profession
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Home
Home Useful_Income_Tax_information__For_Fi
"A" to " J" Deduction available to different categor
Deduction (A)-Salaries
avaiable for
Fin. Year (C)-Income from other sources --Deductible_items
2018-19
against (E)-Profit and gains of business or profession--Deductible items
(G)-Capital Gains
(I)-Rebate
DEDUCTIONS
(A)- Against 'salaries'
Nature of Standard Deduction [Rs. 40,000 or the amount of salary, whichever is lower]
deduction
Section Who can claim
16(ia) Individual – Salaried Employee
(B)-Against 'income from house properties'
Nature of Interest on borrowed capital (Rs. 30,000/Rs. 2,00,000, subject to specified con
deduction
Section Who can claim
24(b) All assessees
(C ) - Against 'income from other sources'…(A. Deductible items)
Nature of Any reasonable sum paid by way of commission or remuneration for purpose
deduction referred to in section 115-O)
Nature of deduction
Investment in certain items (See view Deduction List for 80C)
UCTIONS
A
salary, whichever is lower]
B
000, subject to specified conditions)
Key points (if any)
le items) C
or remuneration for purpose of realising dividend (other than dividends
tible items) D
e India on which tax has not been paid or deducted at source
G
06 of certain listed securities or units invested in equity shares forming
in conditions and limits)
J
Who can claim
Individual/HUF
Deduction List for 80C
of deduction
und
of the Central Government. For this purpose, Sukanya Samriddhi
ted 21.01.2015.
l child Any sum
of an individual deposited
or in the name during
of thethe
girlyear
childinfor
Sukanya
whom such an
ertificates (VIII Issue)]
TI :
dividual, his spouse or any child of such individual
thereof
al Fund [Dhanaraksha 1989]
he individual, his spouse or any child of such individual
mber thereof
d set up by National Housing Bank [Home Loan Account
, 2008]
by an individual to any university, college, school or other educational
her children
e property
engaged in providing long-term finance for purchase/construction of
nder anyJeevan
ra/New law forDhara-I/New
satisfying need for housing
Jeevan accommodation
Akshay/New or for
Jeevan Akshay-I/New
und or the UTI (Equity Linked Saving Scheme, 2005)
mutual fund which is referred to in section 10(23D) or by the UTI (UTI
y approved eligible issue of capital made by a public company or public
to in section 10(23D), provided amount of subscription to such units is
scheduled bank, and which is in accordance with a scheme11 framed
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Calculate_Find_out_important_information_result_relating_to_Tax_matter
Brief contents of section 234A-234D and its calculation
The Income Tax Act provides for charging of interest for non- payment/short payment/deferment in
payment of advance tax which is calculated as below:
Details Required
Status Company For 234 A Select Fin. Year 2019-20 Due Date (last date of selected F.Year)
Is 234A applicable Yes Due Date of Filing the Return
Is 234B applicable Yes For 234B Date of filing the Return / Date completion of assessment U/s 144
Is 234C applicable Yes & 234 C Date of Determination of Income U/s 143(1)
Advance Tax Deposite Details COMPUTATION Date of Determination of Income U/s
On or Before 15 June Rs - Total Tax on Gross Income Rs 1,209,000 Interest Payable
On or Before 15 September Rs - Advance Tax Paid Rs - Under Sec. 234 A
On or Before 15 December Rs - Tax Deducted at Source (TDS) Rs - Under Sec. 234 B
On or Before 15 March Rs - Relief U/s 90, 90A, 91 Rs - Under Sec. 234 C
Total Rs - MVAT Credit u/s 115JAA Rs - Total
In summary
Select section Calculation of Interest Under Section 234C Purpose For deferment of advance tax
No Advance Tax Liability if Tax payable is less than Rs. 10000 (u/s 234C)
Key feature/information relating to intrest u/s 234A-234D
Basic
A The Direct Tax Laws (Amendment) Act, 1987 inserted new sections 234A, 234B and 234C in the Income-tax Act from assessment year
provide for penal interest at higher rates for the defaults in late furnishing of the return of income, defaults in payment of advance ta
deferment of advance tax respectively and omitted separate penalty provisions for these defaults. The interest payable under these s
mandatory and there was no provision for reduction or waiver of the penal interest, as was provided specifically in this behalf prior to
result, several taxpayers faced unintended hardships in certain circumstances.
B To calculating interest on short fall/non-payment/ deferment of advance tax ignore any fraction of Rs.100.
C
If there is shortfall of tax by under estimate of any capital gains tax or winning from lotteries, crossword puzzles, races etc. then no in
234C will be leviable.
D Senior citizens (Over 60 Years) need not to pay advance tax if not having any business income. (w.e.f.1-4-2012).
INTEREST U/S 234A:
* Interest under section 234A is levied on the amount of tax as determined under section 143(1) and where regular assessment is made, the
income as determined under such regular assessment as reduced by advance tax, tax deducted/collected at source, relief claimed under vari
like sections 90/90A/91 and tax credit claimed under section 115JAA/115JD. * Interest under section 234A is levied for delay in filing the retur
Interest is
levied at 1% per month or part of a month. The nature of interest is simple interest
t in
31-Mar-2020
7/31/2020
8/12/2020
8/12/2020
nation of Income U/s 143(1)
Interest Payable
4A 12,090
4B 60,450
4C 61,050
otal 133,590
f advance tax
m assessment year 1989-90 to
ment of advance tax and for
able under these sections was
this behalf prior to 1989. As a
(K)-Salaries
Allowances
avaiable for Fin. (M)-Other Sources
Year 2019-20
(O)-Capital Gain
Allowances available to different categories of Tax P
(K)-Allowance under head "Salaries"
Detail of allowance Allowances to Retired Chairman/Members of UPSC
(N)-Allowances available Under the head Profits and gains from business or profession
Detail of allowance Contribution to approved research association, university, college or othe
statistical research or research in social sciences shall be allowed as dedu
(L)-House Properties
Limit of exemption
Exempt subject to maximum of Rs. 14,000 per
month for defraying the services of an orderly and
y)
L Access Top
Limit of exemption
30% of the Annual Value (Gross Annual Value-
Municipal Taxes)
y)
N Access Top
Limit of exemption
33.33% of Family Pension subject to maximum of
Rs. 15,000
y)
Limit of exemption
125% of sum paid to such association, university,
college, or other institution is allowed as deduction
y)
allowed as deduction (applicable from AY 2018-19)
O Access Top
Withdrawal of exemption
If new asset is transferred within 3 years of its
acquisition
Name of form
nt
Section Result
140A(3) Such amount as Assessing Officer may impose but not exceeding tax in
arrears
Section Result
234F 1) Rs. 5000 if return is furnished on or before 31st December of assessment year,2) Rs. 10,000 in any other case
Remark
Note: if total income of the person does not exceeds Rs. 5 lakh then fee payable shall be Rs. 1000
(S)-PAN-Certain transaction in which quoting of PAN is mandatory.
Section Type of transaction
Section 139A read Payment for sale or purchase of goods or services of any nature
with Rule 114B
ormation__For_Fin._Year_2019_20 Home
P
b) interest and fee, or(c) both
Remark
Q
nspect books of account or other documents as required under section
Remark
No limit
R
prescribed under section 139(1)
ature
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Home Useful_Income_Tax_information__For_Fi
(K)-Salaries
Allowances
avaiable for Fin. (M)-Other Sources
Year 2018-19
(O)-Capital Gain
Allowances available to different categories of Tax P
(K)-Allowance under head "Salaries"
Detail of allowance Border area allowance Remote Locality or allowance or Disturbed Area a
(Subject to certain conditions and locations)
(N)-Allowances available Under the head Profits and gains from business or profession
Detail of allowance Deduction in respect of expenditure on specified businesses
(L)-House Properties
Limit of exemption
Amount exempt from tax varies from Rs. 200 per
month to Rs. 1,300 per month.
y)
L Access Top
Limit of exemption
30% of the Annual Value (Gross Annual Value-
Municipal Taxes)
y)
N Access Top
Limit of exemption
33.33% of Family Pension subject to maximum of
Rs. 15,000
y)
Limit of exemption
150% of capital expenditure incurred for the purpose
of business is allowed as deduction provided the
specified business has commenced its operation on or
after 01-04-2012.
y)
ment year 2018-19 onwards
O Access Top
Withdrawal of exemption
If new asset is transferred within 3 years of its
acquisition
Section Result
140A(3) Such amount as Assessing Officer may impose but not exceeding tax in
arrears
Section Result
234F 1) Rs. 5000 if return is furnished on or before 31st December of assessment year,2) Rs. 10,000 in any other case
Remark
Note: if total income of the person does not exceeds Rs. 5 lakh then fee payable shall be Rs. 1000
(S)-PAN-Certain transaction in which quoting of PAN is mandatory.
Section Type of transaction
Section 139A read Payment for sale or purchase of goods or services of any nature
with Rule 114B
ormation__For_Fin._Year_2018_19 Home
P
b) interest and fee, or(c) both
Remark
Q
nspect books of account or other documents as required under section
Remark
No limit
R
prescribed under section 139(1)
ature
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Useful Income-Tax information (For Fin. Year 2017-18) Home
DEDUCTIONS
Against 'salaries' A Access Top
Nature of deduction Employment tax
Section Who can claim Key points (if any)
16(iii) Salaried assessees
Against 'income from house properties' B Access Top
Nature of deduction Standard deduction [30% of the annual value (gross annual value less municipal taxes)]
Against 'profits and gains of business or profession' ……(B. Non-deductible items) D Access Top
Nature of deduction Any sum paid or payable to a non-resident which is subject to a deduction of Equalisation levy would attract
disallowance
Against 'profits and gains of business or profession' ……(C. Other-deductible items) E Access Top
Nature of deduction In case of mineral oil concerns expenditure incurred remaining unallowed as reduced by proceeds of transfer
Allowances available Under the head Income from house property L Access Top
Detail of allowance Municipal tax levied by local authority and borne by owner in respect of house property
Section Exemption available to Limit of exemption
Allowances available All assessee Amount actually paid during the relevant previous year
Under the head Income
from house property
Remark (if any)
Allowances available Under the head Profits and gains from business or profession M Access Top
Detail of allowance Additional depreciation on new plant and machinery (other than ships, aircraft, vehicle, office appliances, second hand
plant or machinery, etc.) shall be allowed subject to certain conditions.
Allowances available Under the head Income from other sources N Access Top
Detail of allowance Standard Deduction for family pension
Eligible taxpayer Capital gains eligible for exemption Assets to be acquired for exemption
Individual and HUF Long-term One residential house property
Yes Purchase: within 1 year before or within 2 Any long term asset (other than a residential house property) provided on
years after date of transfer.Construction: date of transfer taxpayer does not own more than one residential house
within 3 years after date of transfer property (except the new house)
Various Penalties in Income Tax (for Fin. Year 2017-18) P Access Top
Types of Penalties Penalty for failure to file statement within time prescribed in section 200(3) or in proviso to section 206C(3)
Various Prosecution in Income Tax (for Fin. Year 2017-18) Q Access Top
Types of Prosecution Prosecution of 6 months to 7 years with fine for abetment of false return, account, statement or declaration relating to
any income chargeable to tax
Section Result Remark
278 If tax sought to be evaded exceeds Rs. 25
Lakhs
Various Fee in Income Tax (for Fin. Year 2017-18) R Access Top
Types of Prosecution Fees for failure to furnish return of income within the time prescribed under section 139(1)
Section Result
( Assessees engaged in business of growing and manufacturing tea/Coffee/Rubber in India
Remark
Note: if total income of the person does not exceeds Rs. 5 lakh then fee payable shall be Rs. 1000
PAN-Certain transaction in which quoting of PAN is mandatory. S Access Top
Section Type of transaction
Section 139A read Deposit in cash aggregating Rs. 50,000 or more during one day with a bank
with Rule 114B
■ Tuition fees (excluding development fees, donations, etc.) paid by an individual to any university, college, school or other educational
institution situated in India, for full time education of any 2 of his/her children
■ Certain payments for purchase/construction of residential house property
■ Subscription to notified schemes of (a) public sector companies engaged in providing long-term finance for purchase/construction of
houses in India for residential purposes/(b) authority constituted under any law for satisfying need for housing accommodation or for
planning, development or improvement of cities, towns and villages, or for both
■ Sum paid towards notified annuity plan of LIC (New Jeevan Dhara/New Jeevan Dhara-I/New Jeevan Akshay/New Jeevan Akshay-I/New
Access Top
Jeevan Akshay-II/Jeewan Akshay-III plan of LIC) or other insurer
■ Subscription to any units of any notified [u/s 10(23D)] Mutual Fund or the UTI (Equity Linked Saving Scheme, 2005)
■ Contribution by an individual to any pension fund set up by any mutual fund which is referred to in section 10(23D) or by the UTI (UTI
Retirement Benefit Pension Fund)
■ Subscription to equity shares or debentures forming part of any approved eligible issue of capital made by a public company or public
financial institutions
■ Subscription to any units of any approved mutual fund referred to in section 10(23D), provided amount of subscription to such units is
subscribed only in 'eligible issue of capital' referred to above.
■ Term deposits for a fixed period of not less than 5 years with a scheduled bank, and which is in accordance with a scheme11 framed and
notified.
■ Subscription to notified bonds issued by the NABARD.
■ Deposit in an account under the Senior Citizen Savings Scheme Rules, 2004 (subject to certain conditions)
■ 5-year term deposit in an account under the Post Office Time Deposit Rules, 1981 (subject to certain conditions) Access Top
Home Useful_Income_Tax_information__For_Fin._Year_2
Income Tax Forms
A)-View according to Form No
Select Form No Name of form
Form 43 Appeal against refusal to approve or withdrawal of approval fro
Tax Forms
Name of form
drawal of approval from a superannuation fund
Return Forms
Payable by, Select 1 for (TDS/TCS Payable by Taxpayer), Select 2 for (TDS/TCS Regular 1 Select required code
Assessment (Raised by I.T.Dett.))
< Challan Identification Number(CIN) >
BSR code of the Branch 1234567 Input value in text
Date of deposit of Challan 11/18/2019 Input value in dd/mm/yyyy
Serial number for challan provided Provided by Bank after deposite challan
by bank
Remarks Only reference purpose
Challan 280
Transcation Date No. Characters
Details of Tax Payer for Challan No 280
11/18/2019 Filled
PAN Number of Tax Payer AEPPS1234R 10
Name of Tax Payer ABCDEFG 7
Complete Address Address TREASURY OFFICE 15
with City & State
City BIKANER 7
State RAJASTHAN 9
Telephone No. 9460123456 10
PIN 342601 6
Assessment Year 2020-21 Select relevant Assesment Year
Deductee Code OTHERS Select Deductee Code
Types of Payment (select one) SELF ASSESSMENT TAX (300) Select types of payment
Mode of Tax Payment (select cash or cheuqe) Debit to A/c Select required
option
Details of challan amount Income Tax Surcharge Education Interest Penalty Others Total
Cess
12 12
6 0
Select required
option
If amount
deposited
through cheque,
use these cells,
otherwise leave
blank
Select required
option
Home
*Important: Please see notes overleaf
before filling up the challan.
Tax Applicable (Tick One)*
CHALLAN NO. / ITNS (0020) INCOME TAX ON COMPANIES (CORPORATION TAX)
280
(0021) NON-COMPANY DEDUCTEES (OTHER THAN COMPANIES TAX)
A E P P S 1 2 3 4 R
Full Name
A B C D E F G
Complete Address with City & State
T R E A S U R Y O F F I C E
B I K A N E R
R A J A S T H A N
Tel.No. 9 4 6 0 1 2 3 4 5 6
Income Tax 1 0 0 0
Surcharge 0
Education Cess 4 0
Interest 0 Debit to
Penalty 0
Others 0
Total 1 0 4 0
Total (in words)
Ö
Paid in Cash / Debit to A/c / Cheque No. Debit to A/c 001525 Dated 1-Aug-16
Tear off
Tax payers Counterfoil (To be filled up by tax payer)
PAN A E P P S 1 2 3 4 R
Received from ABCDEFG
Ö (Name)
Cash / Debit to A/c / Cheque No. Debit to A/c 001525 dated 01/08/2016 For Rs. 1040
Type of Tax Payment SELF ASSESSMENT TAX (300) (To be filled by the person making the
payment)
For the Assessment Year 2 0 2 0 - 2 1
*NOTES
2. Please note that quoting your Permanent Account Number (PAN) is mandatory.
3. Please note that quoting false PAN may attract a penalty of Rs. 10,000/- as per section 272B o
4. Please note that to deposit Appeal Fees either Major Head 020 or 021 (depending upon the t
under ‘Tax Applicable’. Followed by this; Minor Head: Self Assessment Tax (300) has
Payment’ and the amount is to filled under Others in ‘Details of Payments’.
5. To deposit taxes, appeal fees, etc. in respect of block period cases, enter the first Assessm
followed by the last Assessment Year of the period. For example, if the block period is 1/04
entered as 1986-97 in the space indicated for Assessment Year. If taxes are being deposited, ti
(300) under Type of Payment and fill up amount under ‘Tax’ while in respect of appeal fees, ent
16.18.1.22.5.19.8√97263.0458756048 11/18/2019
PLEASE USE THIS CHALLAN FOR DEPOSITING TAXES (TYPES OF PAYMENT) MENTIONED OVERLEA
KINDLY DO NOT USE THIS CHALLAN FOR DEPOSITING TAX DEDUCTION AT SOURCE (TDS)
16.18.1.22.5.19.8√97263.0458756048 11/18/2019
Single copy (to be sent to the ZAO)
Assessment Year
Ö 2 0 2 0 - 2 1
PIN 3 4 2 6 0 1
D D M M Y Y
16.18.1.22.5.19.8√97263.0458756048 11/18/2019
SPACE FOR BANK SEAL
16.18.1.22.5.19.8√97263.0458756048 11/18/2019
OVERLEAF.
16.18.1.22.5.19.8√97263.0458756048 11/18/2019
*Important: Please see notes overleaf
before filling up the challan. T.D.S./T.C.S. TAX CHALLAN
Tax Applicable (Tick One)*
CHALLAN NO. / ITNS TAX DEDUCTED / COLLECTED AT SOURCE FROM
281 (0020) COMPANY DEDUCTEES (0021) NON-COMPANY DEDUCTEES
J D H T 1 2 3 4 5 C
Full Name
T R E A S U R Y C I T Y A B C D
N E A R A B C D Q R S T U V S T
Tel.No.
Income Tax 1 0 0 0
Surcharge 0
Education Cess 4 0
Interest 0
Penalty 0
Others 0
Total 1 0 4 0
Total (in words)
CRORES LACS THOUSANDS HUNDREDS TENS UNITS
16.18.1.22.5.19.8√97263.0458756048 11/18/2019
Ö Ö
Paid in Cash / Debit to A/c / Cheque No. Cash Dated 15-Feb-16
Drawn on ---------------------------------------------------------------------------------
(Name of the Bank and Branch)
Date: 18-Nov-19
Signature of person making payment
Tear off
Tax payers Counterfoil (To be filled up by tax payer)
TAN J D H T 1 2 3 4 5 C
Ö (Name)
Cash / Debit to A/c / Cheque Cash For Rs. 1040
No.
Rs. (in words) One Thousand Forty Only
Drawn on ---------------------------------------------------------------------------------
(Name of the Bank and Branch)
On account of Tax Deducted at Source (TDS)/Tax Collected at Source (TCS) from (Fill up Code)
92A
(Strike out whichever is not applicable)
For the Assessment Year 2 0 2 0 - 2 1
16.18.1.22.5.19.8√97263.0458756048 11/18/2019
*NOTES
1
. Please note that quoting false TAN may attract a penalty of Rs.10,000/- as per section 272BB o
2 Use a Separate Challan for each Nature(Type) of Payment. The relevant Codes are:
194 Dividend
194I Rent
194K Income payable to a Resident Assessee in respect of Units of a specified Mutual Funds or of the Uni
196C Income from Foreign Currency Bonds or shares of Indian Company payable to Non-Resident
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206C Collection at Source from Timber obtained under Forest lease
206C Collection at Source from Timber obtained by any Mode other than a Forest Lease
206C Collection at Source from any other Forest Produce (not being Tendu Leaves)
206C Collection at Source from contractors or licensee or lease relating to Parking lots
206C Collection at Source from contractors or licensee or lease relating to toll plaza
206C Collection at Source from contractors or licensee or lease relating to mine or quarry
PLEASE TICK THE RELEVANT BOX AT THE TOP OF THE CHALLAN. SEPARATE CHALLANS SHOULD
DEDUCTED AT SOURCE FROM COMPANY DEDUCTEES AND FROM NON-COMPANY DEDUCTEES.
16.18.1.22.5.19.8√97263.0458756048 11/18/2019
C.S. TAX CHALLAN Single copy (to be sent to the ZAO)
PIN 3 4 2 6 0 1
D D M M Y Y
16.18.1.22.5.19.8√97263.0458756048 11/18/2019
Rs.
Rs.
16.18.1.22.5.19.8√97263.0458756048 11/18/2019
*NOTES
1 9 3
1
1 9 4 9
4
1
9 4 A A
9
4
9 4 B B
1
4 B B 9
4
1
9 4 C C
9
4
1
9 4 D D
9
1
4
9
9 4 E E4
E1
emes 4 E E E9
4
1
nds or UTI 9 4 F F9
4
1
9 4 G G
9
4
1
9 4 H H
9
4
1
9 4 I I9
4
1
9 4 J J9
4
f a specified Mutual Funds or of the Units of the UTI 9 4 K K
able property 9 4 L 1
9
1
1 9 5 5
9
6
1
9 6 A A
9
6
1
9 6 B B
9
6
1
mpany payable to Non-Resident 9 6 C C
9
6
2
9 6 D D
0
6
mption 6 C A C
16.18.1.22.5.19.8√97263.0458756048 11/18/2019
2
0
6
2
se 6 C B C
0
6
2
her than a Forest Lease 6 C C C
0
6
2
ng Tendu Leaves) 6 C D C
0
6
2
6 C E C
0
6
lating to Parking lots 6 C F C
6 C I
E FOLLOWING:-
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View_Caculate_Find_out_various_key_points_relating_to_TDS
No TDS on service Tax : TDS is not applicable on service tax part if service tax is shown separately.( circular 01/2014 dated
13.01.2014)
TDS at higher rate ie., 20% has to be deducted if the deductee does not provide PAN to the deductor.( u/s 206AA)
Surcharge on TDS on salary 10%, if Taxable Income >5000000 & upto 10000000,15%,If Taxable Income is >10000000
Education Cess on TDS 10%, if Taxable Income >5000000 & upto 10000000,15%,If Taxable Income is >10000000
Home
e Income is >10000000
View_Caculate_Find_out_various_key_points_relating_to_TDS
Home
(B)- Tax Payer Form 26 AS Date of Birth (in DDMMYYYY If your date of birth is 18-03-1967,
(i.e. Employee) format) password will be 18031967
Due date for Government Due date for Other Return Type/No Due Date for issuing TDS
Offices (A) Deductors (B) certificate [in Form no.
16A]
31st October 15th October 24QII for A/26QII for B 15th November
Due dates and extended date of e-filing for certain returns (from F.Y. 2011-12 to onwards)
F.YEAR DUE DATE Extended Date Main Reason
2019-20
timber or tendu leave , * Alcoholic Liquor for human consumption , * Parking Lot, toll plaza
mining and quarrying Minerals, being coal or lignite or iron ore (applicable from July 1,2012) ,
2. At the time of receipt/collection * Sale of motor vehicle > 10 lakh
Home
NA
NA
NA
NA
Allowed form No 15G-15H
YES
Tax Categary
Individual/HUF
TCS Rate in %
1.0%
its name
than “Interest on securities” , * 194C-
ance commission , * 194H – Commission
kets , * 194I- Rent , * 194J- Professional
its name
r is earlier , * Scrap , * Tendu Leaves , *
2019-20
Evidence / particulars
(4)
eby certify that the information
the employee)
Home
Calculate_Find_out_important_information_result_relating_to_Tax_matter
HOUSE RENT ALLOWANCE REBATE CALUCATION-ANNUAL BASIS
Parameters Input Result (output)
City Type Non Metro City (2) EXCESS OF 10% PAY (0*12-0*10%) Rs -
HR PAID AMT P.M. Rs - (3) 40% of Salary (0*40%) Rs -
PERIOD FOR PAID (in months) 12 MINIMUM VALUE (0,0,0) Rs -
SALARY FOR HRA (Basic Pay+G.P. Rs - HRA AMT EXEMPT U/S NIL
+D.A/D.P.) 10(13A) Not Allowed
(1) HRA RECEIVED Rs -
HOUSE RENT ALLOWANCE REBATE CALUCATION-MONTHLY BASIS
Financial Year 2019-20 City Type Non Metro City
Total House Rent Sum of HRA amt paid from
Period Basic Salary (Basic HRA RECEIVED HRA PAID Allowance Paid 04/2019 to 03/2020
Pay+G.P.+D.A/ D.P.)
Rs -
Apr-19 Rs - Rs - Rs - Total of Salary (Basic
Pay+G.P.+D.A/ D.P.) Sum of Basic Salary from
May-19 Rs - Rs - Rs - 04/2019 to 03/2020 Rs -
Jun-19 Rs - Rs - Rs - (1) Total House Rent
Allowance Received Sum of HRA Allow.received
Jul-19 Rs - Rs - Rs - from 04/2019 to 03/2020 Rs -
Aug-19 Rs - Rs - Rs - (2) Exess of 10% Pay
Sep-19 Rs - Rs - Rs - (0 -0*10%) Rs -
Oct-19 Rs - Rs - Rs - (3) 40% of Salary
Nov-19 Rs - Rs - Rs - (0*40%) Rs -
Dec-19 Rs - Rs - Rs - MINIMUM VALUE {(1),(2),
(3)} (0,0,0)
Jan-20 Rs - Rs - Rs - Rs -
Feb-20 Rs - Rs - Rs - HRA AMT EXEMPT NIL
Not Allowed
Mar-20 Rs - Rs - Rs -
Important key points regarding House Rent Allowance Exemption u/s 10(13A)
A House Rent Allowance (HRA) is an allowance paid by employer to its employees for covering their house
rent. Such allowance is taxable in the hand of employee. However, Income Tax Act provides deduction of HRA
under section 10(13A) subject to exemption available shall be the least of the following -
Home
Calculation of Relief u/s 89(1) from F.Y. 1985-86 & onwards
This excel sheet work in all type of Male i.e. Male, Female, Sr.Citizen and Very
4 ► Catgy .. Select "Male" for "Male" ( No difference in output)
5 ► Select Start_End Year for salary arrear accured for batter view of input of old
This sheet auto calculate effect of section 88D for F.Y. 2004-05. If your data r
6 ► write combind amount of [(1) the value of section 88, 88B and (2) deductio
deduction under chapter VIA
1985-86 & onwards Home
emale, Sr.Citizen and Very Sr. Citizen, However, in this sheet Tax
output)
1985-86 Rs - Rs - Rs - Rs -
1986-87 Rs - Rs - Rs - Rs -
1987-88 Rs - Rs - Rs - Rs -
1988-89 Rs - Rs - Rs - Rs -
1989-90 Rs - Rs - Rs - Rs -
1990-91 Rs - Rs - Rs - Rs -
1991-92 Rs - Rs - Rs - Rs -
1992-93 Rs - Rs - Rs - Rs -
1993-94 Rs - Rs - Rs - Rs -
1994-95 Rs - Rs - Rs - Rs -
16.18.1.22.5.19.8√97263.0458756048 14:11:0111/18/2019
1995-96 Rs - Rs - Rs - Rs -
1996-97 Rs - Rs - Rs - Rs -
1997-98 Rs - Rs - Rs - Rs -
1998-99 Rs - Rs - Rs - Rs -
1999-00 Rs - Rs - Rs - Rs -
2000-01 Rs - Rs -
2001-02 Rs - Rs -
2002-03 Rs - Rs -
2003-04 Rs - Rs -
2004-05 Rs - Rs -
2005-06 Rs - Rs -
2006-07 Rs - Rs -
2007-08 Rs - Rs -
2008-09 Rs - Rs -
2009-10 Rs - Rs -
2010-11 Rs - Rs -
2011-12 Rs - Rs -
2012-13 Rs - Rs -
2013-14 Rs - Rs -
2014-15 Rs - Rs -
2015-16 Rs - Rs -
2016-17 Rs - Rs -
2017-18 Rs - Rs -
2018-19 Rs - Rs -
2019-20 Rs - Rs - Rs -
TOTAL Rs - Rs - Rs - Rs -
16.18.1.22.5.19.8√97263.0458756048 14:11:0111/18/2019
Releif u/s 89(1) NIL Relief u/s 89(1) not allowed
16.18.1.22.5.19.8√97263.0458756048 14:11:0111/18/2019
20
AAAP1234R
Resident
)
2019-20
18-Nov-19
BIKANER
Rs 675,000
NIL
2020-21
2018-19
ata to input)
OME WITHOUT ARREAR
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
16.18.1.22.5.19.8√97263.0458756048 14:11:0111/18/2019
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
Rs -
16.18.1.22.5.19.8√97263.0458756048 14:11:0111/18/2019
(1) not allowed
16.18.1.22.5.19.8√97263.0458756048 14:11:0111/18/2019
COMPUTATION OF TAXABLE INCOME
For Current Financial Year 2019-20 Assestment Year 2020-21
Name of employee Pravesh Kumar Sharma PAN NO AAAP1234R
PARTICULES SALY WITH ARR. SALY WITHOUT ARR.
1 Income From Salary Rs 675,000 Rs 675,0
2 Add-: Income From House Property Rs - Rs
3 Add-: Income From Others Sources Rs - Rs
4 Gross Total Income Rs 675,000 Rs 675,0
5 Less-: Deduction U/S 80C/80CCE Rs - Rs
6 Others Deduction U/S Rs - Rs
7 Taxable Income (rounded u/s 288A) Rs 675,000 Rs 675,0
8 Income tax on Taxable Income Rs 47,500 Rs 47,5
9 Less-: Rebate U/S 87A, if applicable Rs - Rs
10 Surcharge Rs - Rs
11 E. Cess (Tax on Taxable Income-Rebate u/s 87A) Rs 1,900 Rs 1,9
12 Total Tax Due [Code-(A) & (B)] Rs 49,400 Rs 49,4
13 Code CODE-(A) CODE-(B)
14 Additional Tax On Arrear [(A)-(B)] -Code ( C) Rs.
TABLE A
[See item 7 of Annexure I]
Previous year(s) Total Income of Salary received Total income (as Tax on total Tax on total
Previous year in arrears or increased by income [as income
(i.e. Salary advace relating salalry received in per colum (2)] [as per colum
without arrear) to the relevat arrears or (4)]
previous year advance) of the
as mentioned in relevant previous
colum(1) year mentioned in
colum I[Add
colums
(2) and (3)]
1 2 3 4 (2+3) 5 6
2014-15 Rs. - Rs. - Rs. - Rs. - Rs. -
2015-16 Rs. - Rs. - Rs. - Rs. - Rs. -
2016-17 Rs. - Rs. - Rs. - Rs. - Rs. -
2017-18 Rs. - Rs. - Rs. - Rs. - Rs. -
2018-19 Rs. - Rs. - Rs. - Rs. - Rs. -
TOTAL Rs. - Rs. - Rs. - Rs. - Rs. -
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:01
AAAP1234R
SALY WITHOUT ARR.
675,000
-
-
675,000
-
-
675,000
47,500
-
-
1,900
49,400
CODE-(B)
-
Difference in
tax [Amount
under column
6 minus
amount
under column
(5)]
7 (6-5)
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
Rs. -
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:01
FORM NO. 10E
[See rule 21AA]
Form for furnishing particulars of Income under section 192(2A) for the year ending
31st Marc 2020 for claiming relief under section 89(1) by a Government servant or an
Place-: Bikaner
Date-: 18-Nov-19
Signature of the employee
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:01
ANNEXURE I
[See item 2 of Form No. 10E]
ARREARS OR ADVANCE SALARY
1 Total income (excluding salary received in arrears or advance) Rs 675,000
Place-: Bikaner
Date-: 18-Nov-19
Signature of the employee
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:01
Home
Go to
Employee Data Form no 16 Statement
Apr-19 0 0 0 0 0 0 0 0
May-19 0 0 0 0
Jun-19 0 0 0 0
Jul-19 0 0 0 0
Aug-19 0 0 0 0
Sep-19 0 0 0 0
Oct-19 0 0 0 0 0
Nov-19 0 0 0 0
Dec-19 0 0 0 0
Jan-20 0 0 0 0
Feb-20 0 0 0 0
Mar-20 0 0 0 0
Total 0 0 0 0 0 0 0 0
Home
2019-20
GROSS SALARY
378288
809344
42939
6774
0
6606
0
0
1243951
2019-20
GROSS SALARY
0
0
0
0
0
0
0
0
0
0
0
0
0
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
Design & Prepaired by Pravesh Kumar Sharma, Accountant, please call-9460100093 or write mail to praveshbkn@gmail.com for further query/error/updati
Fin. Year 1985 - 1986 Tax Calculator Mini Tax Calculator
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 18000 0% 0% 0% 0 18000 0% 0% 0% 0 18000 0% 0% 0% 0
18001 25000 25% 0% 0% 18001 25000 25% 0% 0% 18001 25000 25% 0% 0% 18001
25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001
50001 100000 40% 5% 0% 50001 100000 40% 5% 0% 50001 100000 40% 5% 0% 50001
100001 50% 5% 0% 100001 50% 5% 0% 100001 50% 5% 0% 100001
Surcharge Limit 5%,If Taxable Income is >50000
Fin. Year 1986 - 1987
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 18000 0% 0% 0% 0 18000 0% 0% 0% 0 18000 0% 0% 0% 0
18001 25000 25% 0% 0% 18001 25000 25% 0% 0% 18001 25000 25% 0% 0% 18001
25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001
50001 100000 40% 5% 0% 50001 100000 40% 5% 0% 50001 100000 40% 5% 0% 50001
100001 50% 5% 0% 100001 50% 5% 0% 100001 50% 5% 0% 100001
Surcharge Limit 5%,If Taxable Income is >50000
Fin. Year 1987 - 1988
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 18000 0% 0% 0% 0 18000 0% 0% 0% 0 18000 0% 0% 0% 0
18001 25000 25% 0% 0% 18001 25000 25% 0% 0% 18001 25000 25% 0% 0% 18001
25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001
50001 100000 40% 5% 0% 50001 100000 40% 5% 0% 50001 100000 40% 5% 0% 50001
100001 50% 5% 0% 100001 50% 5% 0% 100001 50% 5% 0% 100001
Surcharge Limit 5%,If Taxable Income is >50000
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
Fin. Year 1988 - 1989
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 18000 0% 0% 0% 0 18000 0% 0% 0% 0 18000 0% 0% 0% 0
18001 25000 25% 0% 0% 18001 25000 25% 0% 0% 18001 25000 25% 0% 0% 18001
25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001
50001 100000 40% 5% 0% 50001 100000 40% 5% 0% 50001 100000 40% 5% 0% 50001
100001 50% 5% 0% 100001 50% 5% 0% 100001 50% 5% 0% 100001
Surcharge Limit 5%,If Taxable Income is >50000
Fin. Year 1989 - 1990
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 18000 0% 0% 0% 0 18000 0% 0% 0% 0 18000 0% 0% 0% 0
18001 25000 20% 0% 0% 18001 25000 20% 0% 0% 18001 25000 20% 0% 0% 18001
25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001 50000 30% 0% 0% 25001
50001 100000 40% 8% 0% 50001 100000 40% 8% 0% 50001 100000 40% 8% 0% 50001
100001 50% 8% 0% 100001 50% 8% 0% 100001 50% 8% 0% 100001
Surcharge Limit 8%,If Taxable Income is >50000
Fin. Year 1990 - 1991
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 22000 0% 0% 0% 0 22000 0% 0% 0% 0 22000 0% 0% 0% 0
22001 30000 20% 0% 0% 22001 30000 20% 0% 0% 22001 30000 20% 0% 0% 22001
30001 50000 30% 0% 0% 30001 50000 30% 0% 0% 30001 50000 30% 0% 0% 30001
50001 100000 40% 12% 0% 50001 100000 40% 12% 0% 50001 100000 40% 12% 0% 50001
100001 50% 12% 0% 100001 50% 12% 0% 100001 50% 12% 0% 100001
Surcharge Limit 12%,If Taxable Income is >75000
Fin. Year 1991 - 1992
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
SUR RATE E.Cess SUR RATE E.Cess SUR RATE E.Cess
Not defined Not defined Not defined Not defined
0 22000 0% 0% 0% 0 22000 0% 0% 0% 0 22000 0% 0% 0% 0
22001 30000 20% 0% 0% 22001 30000 20% 0% 0% 22001 30000 20% 0% 0% 22001
30001 50000 30% 0% 0% 30001 50000 30% 0% 0% 30001 50000 30% 0% 0% 30001
50001 100000 40% 12% 0% 50001 100000 40% 12% 0% 50001 100000 40% 12% 0% 50001
100001 50% 12% 0% 100001 50% 12% 0% 100001 50% 12% 0% 100001
Surcharge Limit 12%,If Taxable Income is >100000
Fin. Year 1992 - 1993
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 28000 0% 0% 0% 0 28000 0% 0% 0% 0 28000 0% 0% 0% 0
28001 50000 20% 0% 0% 28001 50000 20% 0% 0% 28001 50000 20% 0% 0% 28001
50001 100000 30% 0% 0% 50001 100000 30% 0% 0% 50001 100000 30% 0% 0% 50001
100001 40% 12% 0% 100001 40% 12% 0% 100001 40% 12% 0% 100001
Surcharge Limit 12%,If Taxable Income is >100000
Fin. Year 1993 - 1994
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 30000 0% 0% 0% 0 30000 0% 0% 0% 0 30000 0% 0% 0% 0
30001 50000 20% 0% 0% 30001 50000 20% 0% 0% 30001 50000 20% 0% 0% 30001
50001 100000 30% 12% 0% 50001 100000 30% 12% 0% 50001 100000 30% 12% 0% 50001
100001 40% 12% 0% 100001 40% 12% 0% 100001 40% 12% 0% 100001
Surcharge Limit 12%,If Taxable Income is >100000
Fin. Year 1994 - 1995
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 35000 0% 0% 0% 0 35000 0% 0% 0% 0 35000 0% 0% 0% 0
35001 60000 20% 0% 0% 35001 60000 20% 0% 0% 35001 60000 20% 0% 0% 35001
60001 120000 30% 0% 0% 60001 120000 30% 0% 0% 60001 120000 30% 0% 0% 60001
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
120001 40% 0% 0% 120001 40% 0% 0% 120001 40% 0% 0% 120001
Surcharge Limit Nil
Fin. Year 1995 - 1996
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 40000 0% 0% 0% 0 40000 0% 0% 0% 0 40000 0% 0% 0% 0
40001 60000 20% 0% 0% 40001 60000 20% 0% 0% 40001 60000 20% 0% 0% 40001
60001 120000 30% 0% 0% 60001 120000 30% 0% 0% 60001 120000 30% 0% 0% 60001
120001 40% 0% 0% 120001 40% 0% 0% 120001 40% 0% 0% 120001
Surcharge Limit Nil
Fin. Year 1996 - 1997
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 40000 0% 0% 0% 0 40000 0% 0% 0% 0 40000 0% 0% 0% 0
40001 60000 15% 0% 0% 40001 60000 15% 0% 0% 40001 60000 15% 0% 0% 40001
60001 120000 30% 0% 0% 60001 120000 30% 0% 0% 60001 120000 30% 0% 0% 60001
120001 40% 0% 0% 120001 40% 0% 0% 120001 40% 0% 0% 120001
Surcharge Limit Nil
Fin. Year 1997 - 1998
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 40000 0% 0% 0% 0 40000 0% 0% 0% 0 40000 0% 0% 0% 0
40001 60000 10% 0% 0% 40001 60000 10% 0% 0% 40001 60000 10% 0% 0% 40001
60001 150000 20% 0% 0% 60001 150000 20% 0% 0% 60001 150000 20% 0% 0% 60001
150001 30% 0% 0% 150001 30% 0% 0% 150001 30% 0% 0% 150001
Surcharge Limit Nil
Fin. Year 1998 - 1999
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
0 50000 0% 0% 0% 0 50000 0% 0% 0% 0 50000 0% 0% 0% 0
50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001
60001 150000 20% 0% 0% 60001 150000 20% 0% 0% 60001 150000 20% 0% 0% 60001
150001 30% 0% 0% 150001 30% 0% 0% 150001 30% 0% 0% 150001
Surcharge Limit Nil
Fin. Year 1999 - 2000
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
Not defined Not defined Not defined Not defined
0 50000 0% 0% 0% 0 50000 0% 0% 0% 0 50000 0% 0% 0% 0
50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001
60001 150000 20% 10% 0% 60001 150000 20% 10% 0% 60001 150000 20% 10% 0% 60001
150001 30% 10% 0% 150001 30% 10% 0% 150001 30% 10% 0% 150001
Surcharge Limit 10%,If Taxable Income is >60000
Fin. Year 2000 - 2001
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (Above 65 years) Not defined
0 50000 0% 0% 0% 0 50000 0% 0% 0% 0 50000 0% 0% 0% 0
50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001
60001 150000 20% 12% 0% 60001 150000 20% 12% 0% 60001 150000 20% 12% 0% 60001
150001 30% 17% 0% 150001 30% 17% 0% 150001 30% 17% 0% 150001
Surcharge Limit If Taxable Income is >60000 =12% & >150000=17%
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
Fin. Year 2001 - 2002
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (Above 65 years) Not defined
0 50000 0% 0% 0% 0 50000 0% 0% 0% 0 50000 0% 0% 0% 0
50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001
60001 150000 20% 2% 0% 60001 150000 20% 2% 0% 60001 150000 20% 10% 0% 60001
150001 30% 2% 0% 150001 30% 2% 0% 150001 30% 10% 0% 150001
Surcharge Limit 2%,If Taxable Income is >60000
Fin. Year 2002 - 2003
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (Above 65 years) Not defined
0 50000 0% 0% 0% 0 50000 0% 0% 0% 0 50000 0% 0% 0% 0
50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001
60001 150000 20% 5% 0% 60001 150000 20% 5% 0% 60001 150000 20% 5% 0% 60001
150001 30% 5% 0% 150001 30% 5% 0% 150001 30% 5% 0% 150001
Surcharge Limit 5%,If Taxable Income is >60000
Fin. Year 2003 - 2004
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (Above 65 years) Not defined
0 50000 0% 0% 0% 0 50000 0% 0% 0% 0 50000 0% 0% 0% 0
50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001 60000 10% 0% 0% 50001
60001 150000 20% 10% 0% 60001 150000 20% 10% 0% 60001 150000 20% 10% 0% 60001
150001 30% 10% 0% 150001 30% 10% 0% 150001 30% 10% 0% 150001
Surcharge Limit 10%,If Taxable Income is >850000
Fin. Year 2004 - 2005
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (Above 65 years) Not defined
0 50000 0% 0% 0% 0 50000 0% 0% 0% 0 50000 0% 0% 0% 0
50001 60000 10% 0% 2% 50001 60000 10% 0% 2% 50001 60000 10% 0% 2% 50001
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
60001 150000 20% 10% 2% 60001 150000 20% 10% 2% 60001 150000 20% 10% 2% 60001
150001 30% 10% 2% 150001 30% 10% 2% 150001 30% 10% 2% 150001
Surcharge Limit 10%,If Taxable Income is >850000
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
Fin. Year 2005 - 2006
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (above 65 years) Not defined
0 100000 0% 0% 0% 0 135000 0% 0% 0% 0 185000 0% 0% 0% 0
100001 150000 10% 0% 2% 135001 150000 10% 0% 2% 185001 250000 20% 0% 2% 185001
150001 250000 20% 10% 2% 150001 250000 20% 10% 2% 250001 30% 10% 2% 250001
250001 30% 10% 2% 250001 30% 10% 2% 10% 2%
Surcharge Limit 10%,If Taxable Income is >1000000
Fin. Year 2006 - 2007
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (above 65 years) Not defined
0 100000 0% 0% 0% 0 135000 0% 0% 0% 0 185000 0% 0% 0% 0
100001 150000 10% 0% 2% 135001 150000 10% 0% 2% 185001 250000 20% 0% 2% 185001
150001 250000 20% 10% 2% 150001 250000 20% 10% 2% 250001 30% 10% 2% 250001
250001 30% 10% 2% 250001 30% 10% 2% 10% 2%
Surcharge Limit 10%,If Taxable Income is >1000000
Fin. Year 2007 - 2008
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (above 65 years) Not defined
0 110000 0% 0% 0% 0 145000 0% 0% 0% 0 195000 0% 0% 0% 0
110001 150000 10% 0% 3% 145001 150000 10% 0% 3% 195001 250000 20% 0% 3% 195001
150001 250000 20% 0% 3% 150001 250000 20% 0% 3% 250001 30% 10% 3% 250001
250001 30% 10% 3% 250001 30% 10% 3% 10% 3%
Surcharge Limit 10%,If Taxable Income is >1000000
Fin. Year 2008 - 2009
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (above 65 years) Not defined
0 150000 0% 0% 0% 0 180000 0% 0% 0% 0 225000 0% 0% 0% 0
150001 300000 10% 0% 3% 180001 300000 10% 0% 3% 225001 300000 10% 0% 3% 225001
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
300001 500000 20% 0% 3% 300001 500000 20% 0% 3% 300001 500000 20% 0% 3% 300001
500001 30% 10% 3% 500001 30% 10% 3% 500001 30% 10% 3% 500001
Surcharge Limit 10%,If Taxable Income is >1000000
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
Fin. Year 2009 - 2010
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (above 65 years) Not defined
0 160000 0% 0% 0% 0 190000 0% 0% 0% 0 240000 0% 0% 0% 0
160001 300000 10% 0% 3% 190001 300000 10% 0% 3% 240001 300000 10% 0% 3% 240001
300001 500000 20% 0% 3% 300001 500000 20% 0% 3% 300001 500000 20% 0% 3% 300001
500001 30% 0% 3% 500001 30% 0% 3% 500001 30% 0% 3% 500001
Surcharge Limit Nil
Fin. Year 2010 - 2011
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (above 65 years) Not defined
0 160000 0% 0% 0% 0 190000 0% 0% 0% 0 240000 0% 0% 0% 0
160001 500000 10% 0% 3% 190001 500000 10% 0% 3% 240001 500000 10% 0% 3% 240001
500001 800000 20% 0% 3% 500001 800000 20% 0% 3% 500001 800000 20% 0% 3% 500001
800001 30% 0% 3% 800001 30% 0% 3% 800001 30% 0% 3% 800001
Surcharge Limit Nil
Fin. Year 2011 - 2012
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 60 years) (below 60 years) (>60,<80)) (above 80 years)
0 180000 0% 0% 0% 0 190000 0% 0% 0% 0 250000 0% 0% 0% 0
180001 500000 10% 0% 3% 190001 500000 10% 0% 3% 250001 500000 10% 0% 3% 500001
500001 800000 20% 0% 3% 500001 800000 20% 0% 3% 500001 800000 20% 0% 3% 800001
800001 30% 0% 3% 800001 30% 0% 3% 800001 30% 0% 3%
Surcharge Limit Nil
Fin. Year 2012 - 2013
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 65 years) (below 65 years) (above 65 years) (above 80 years)
0 200000 0% 0% 0% 0 200000 0% 0% 0% 0 250000 0% 0% 0% 0
200001 500000 10% 0% 3% 200001 500000 10% 0% 3% 250001 500000 10% 0% 3% 500001
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 1000001
1000001 30% 0% 3% 1000001 30% 0% 3% 1000001 30% 0% 3%
Surcharge Limit Nil
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
Fin. Year 2013 - 2014
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 60 years) (below 60 years) (>60,<80)) (above 80 years)
0 200000 0% 0% 0% 0 200000 0% 0% 0% 0 250000 0% 0% 0% 0
200001 500000 10% 0% 3% 200001 500000 10% 0% 3% 250001 500000 10% 0% 3% 500001
500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 1000001
1000001 30% 10% 3% 1000001 30% 10% 3% 1000001 30% 10% 3%
Surcharge Limit 10%,If Taxable Income is >10000000
Fin. Year 2014 - 2015
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 60 years) (below 60 years) (>60,<80)) (above 80 years)
0 250000 0% 0% 0% 0 250000 0% 0% 0% 0 300000 0% 0% 0% 0
250001 500000 10% 0% 3% 250001 500000 10% 0% 3% 300001 500000 10% 0% 3% 500001
500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 1000001
1000001 30% 10% 3% 1000001 30% 10% 3% 1000001 30% 10% 3%
Surcharge Limit 10%,If Taxable Income is >10000000
Fin. Year 2015 - 2016
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 60 years) (below 60 years) (>60,<80)) (above 80 years)
0 250000 0% 0% 0% 0 250000 0% 0% 0% 0 300000 0% 0% 0% 0
250001 500000 10% 0% 3% 250001 500000 10% 0% 3% 300001 500000 10% 0% 3% 500001
500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 1000001
1000001 30% 12% 3% 1000001 30% 12% 3% 1000001 30% 12% 3%
Surcharge Limit 12%,If Taxable Income is >10000000
Fin. Year 2016 - 2017
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 60 years) (below 60 years) (>60,<80)) (above 80 years)
0 250000 0% 0% 0% 0 250000 0% 0% 0% 0 300000 0% 0% 0% 0
250001 500000 10% 0% 3% 250001 500000 10% 0% 3% 300001 500000 10% 0% 3% 500001
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 1000001
1000001 30% 15% 3% 1000001 30% 15% 3% 1000001 30% 15% 3%
Surcharge Limit 15%,If Taxable Income is >10000000
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Income Tax Rate from Financial Year 1985-86 to 2019-20 (For Male i.e. Male/Female/Sr.Citizen/Very Sr. Citizen)
(Tax rate table is desinged according to tax calculation in excel)
Fin. Year 2017 - 2018
Male SUR RATE E.Cess Female SUR RATE E.Cess Senior Citizen SUR RATE E.Cess Very Senior Citizen
(below 60 years) (below 60 years) (>60,<80)) (above 80 years)
0 250000 0% 0% 0% 0 250000 0% 0% 0% 0 300000 0% 0% 0% 0
250001 500000 5% 0% 3% 250001 500000 5% 0% 3% 300001 500000 5% 0% 3% 500001
500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 500001 1000000 20% 0% 3% 1000001
1000001 30% 15% 3% 1000001 30% 15% 3% 1000001 30% 15% 3%
Surcharge Limit 10%, if Taxable Income >5000000 & upto 10000000,15%,If Taxable Income is >10000000
Fin. Year 2018 - 2019
Male SUR RATE Cess Female SUR RATE Cess Senior Citizen SUR RATE Cess Very Senior Citizen
(below 60 years) (below 60 years) (>60,<80)) (above 80 years)
0 250000 0% 0% 0% 0 250000 0% 0% 0% 0 300000 0% 0% 0% 0
250001 500000 5% 0% 4% 250001 500000 5% 0% 4% 300001 500000 5% 0% 4% 500001
500001 1000000 20% 0% 4% 500001 1000000 20% 0% 4% 500001 1000000 20% 0% 4% 1000001
1000001 30% 15% 4% 1000001 30% 15% 4% 1000001 30% 15% 4%
Surcharge Limit 10%, if Taxable Income >5000000 & upto 10000000,15%,If Taxable Income is >10000000
Fin. Year 2019 - 2020
Male SUR RATE Cess Female SUR RATE Cess Senior Citizen SUR RATE Cess Very Senior Citizen
(below 60 years) (below 60 years) (>60,<80)) (above 80 years)
0 250000 0% 0% 0% 0 250000 0% 0% 0% 0 300000 0% 0% 0% 0
250001 500000 5% 0% 4% 250001 500000 5% 0% 4% 300001 500000 5% 0% 4% 500001
500001 1000000 20% 0% 4% 500001 1000000 20% 0% 4% 500001 1000000 20% 0% 4% 1000001
1000001 30% 15% 4% 1000001 30% 15% 4% 1000001 30% 15% 4%
Surcharge Limit 10%, if Taxable Income >5000000 & upto 10000000,15% -If Taxable Income is >10000000 & upto 20000000,25% ,if Taxab
upto 50000000,and 37%, if Taxable income >50000000
Use simpletaxindia.net for further updation/new files regarding taxations matter and much more…
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)
query/error/updation/suggestion
x Calculator Home
Very Senior Citizen SUR RATE E.Cess
Not defined
18000 0% 0% 0%
25000 25% 0% 0%
50000 30% 0% 0%
100000 40% 5% 0%
50% 5% 0%
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)
SUR RATE E.Cess
Not defined
22000 0% 0% 0%
30000 20% 0% 0%
50000 30% 0% 0%
100000 40% 12% 0%
50% 12% 0%
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)
40% 0% 0%
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)
50000 0% 0% 0%
60000 10% 0% 0%
150000 20% 0% 0%
30% 0% 0%
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)
500000 20% 0% 3%
30% 10% 3%
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)
30% 0% 3%
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)
30% 15% 3%
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
ry Sr. Citizen)
16.18.1.22.5.19.8√97263.0458756048 11/18/201914:11:02
Financial Year 2008-09 View_Caculate_Find_out_various_key_points_relating_to_TDS
Surcharge Rate
Section - Description Rate (%) Rate (%)
(%) (%)
Average rates as
192 - Salaries - NA NA - applicable
193 - Interest on securities - - - - -
194 - Dividends - - - - -
194A - Other Interest 5000 20 20 10 10
194A - Banks - - - - -
194B - Winning from Lotteries 5000 30 30 10 30
194BB - Winnings from Horse Race - - - - -
194C - Payment to Contractors 20000 2 2 10 2
Surcharge Rate
Section - Description Rate (%) Rate (%)
(%) (%)
Payment to Contractors - Aggregate During
FY - - - - -
194EE - Payments out of deposits under
NSS - - - - -
194F - Repurchase Units by MFs - - - - -
194G - Commission - Lottery - - - - -
194H - Commission / Brokerage 2500 10 10 10 10
194I - Rent - Land and Building 120000 20 20 10 15
194I - Rent - Plant / Machinery 120000 10 10 10 10
194J - Professional Fees 20000 20 20 10 15
194K - Income in respect of units - - - - -
194LA - Immovable Property - - - - -
Surcharge Rate
Section - Description Rate (%) Rate (%)
(%) (%)
196B - Income from units - - - - -
196D - Income of FIIs from securities - - - - -
Notes 1. For banks, threshold limit is (Rs.) 10,000/- w.e.f. 01-Jun-2007
2. For Firm / Co-operative Society / Local Authority, rate is 20%. Net rate will be 20.6%
3. For Firm, rate is 20%
4. (Rs.) 20,000/- for single payment & (Rs.) 50,000/- for aggregate payment during a financial year
Home
10
- -
- -
10 10
- -
10 30
- -
10 2
- -
10 2
10 1
10 10
Home
- -
- -
- -
- -
10 10
10 15
10 10
10 15
- -
- -
- -
- -
Home
Upto 30-Sep-2009
Company / Firm /
Co-operative Society Individual /
Nature of Payment Made To Residents Threshold (Rs.) HUF
/ Local Authority
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2009-10 View_Caculate_Find_out_various_key_points_relating_to_TDS
Upto 30-Sep-2009
Company / Firm /
Co-operative Society Individual /
Nature of Payment Made To Residents Threshold (Rs.) HUF
/ Local Authority
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2009-10 View_Caculate_Find_out_various_key_points_relating_to_TDS
Upto 30-Sep-2009
Company / Firm /
Co-operative Society Individual /
Nature of Payment Made To Residents Threshold (Rs.) HUF
/ Local Authority
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
From 01-Oct-2009
Company / Firm /
Co-operative Individual /
Society / Local HUF
Authority
Rate (%) Rate (%)
NA Average rates
as applicable
- -
- -
10 10
- -
30 30
- -
- -
2 1
2 1
- -
- -
2 1
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
From 01-Oct-2009
Company / Firm /
Co-operative Individual /
Society / Local HUF
Authority
Rate (%) Rate (%)
2 1
- -
20 10
- -
- -
- -
- -
20 10
10 10
2 2
10 10
- -
- -
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
From 01-Oct-2009
Company / Firm /
Co-operative Individual /
Society / Local HUF
Authority
Rate (%) Rate (%)
- -
- -
- -
- -
01-Jun-2007
- for aggregate payment during a financial year
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
View_Caculate_Find_out_various_key_points_relating_to_TDS
Financial Year 2010-11
Company / Firm / Co- If No /
Individual /
Nature of Payment Made To Residents operative Society / Local Invalid
Threshold ( Authority HUF PAN
Rs.)
Upto 30-Jun- From 01-Jul-
Section - Description Rate (%) Rate (%)
2010 2010
192 - Salaries - - NA Average rates 20
as applicable
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
View_Caculate_Find_out_various_key_points_relating_to_TDS
Financial Year 2010-11
Company / Firm / Co- If No /
Individual /
Nature of Payment Made To Residents operative Society / Local Invalid
Threshold ( Authority HUF PAN
Rs.)
Upto 30-Jun- From 01-Jul-
Section - Description Rate (%) Rate (%)
2010 2010
194F - Repurchase Units by MFs 1000 1000 20 20 20
194G - Commission - Lottery 1000 1000 10 10 20
194H - Commission / Brokerage 2500 5000 10 10 20
194I - Rent - Land and Building 120000 180000 10 10 20
194I - Rent - Plant / Machinery 120000 180000 2 2 20
194J - Professional Fees 20000 30000 10 10 20
194K - Income in respect of units - - - - -
194LA - Immovable Property 100000 100000 10 10 20
194LB - Income by way of interest from infrastructure - - - - -
debt fund (non-resident)
195 - Other Sums - - - - -
196B - Income from units - - - - -
196D - Income of FIIs from securities - - - - -
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2011-12 View_Caculate_Find_out_various_key_points_relating_to_TDS
1. In case of no / invalid PAN, section 206AA will apply, i.e., higher of the following will be the applicable rate:
a. Rates specified in the relevant provisions of the Act
b. Rates or rates in force
c. At the rate of 20%
Home
If No / Invalid
PAN
Rate (%)
30
20
20
20
20
30
30
-
20
20
20
20
20
20
20
20
Home
If No / Invalid
PAN
Rate (%)
20
20
20
20
20
20
20
30
20
20
Home
Financial Year 2012-13 View_Caculate_Find_out_various_key_points_relating_to_TDS
Company /
Firm / Co- If No / Invalid
Nature of Payment Made To Residents Threshold operative Individual / HUF PAN
(Rs.) Society / Local
Authority
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
Financial Year 2012-13 View_Caculate_Find_out_various_key_points_relating_to_TDS
Company /
Firm / Co- If No / Invalid
Nature of Payment Made To Residents Threshold operative Individual / HUF PAN
(Rs.) Society / Local
Authority
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
Financial Year 2012-13 View_Caculate_Find_out_various_key_points_relating_to_TDS
Company /
Firm / Co- If No / Invalid
Nature of Payment Made To Residents Threshold operative Individual / HUF PAN
(Rs.) Society / Local
Authority
Average rates
195 - Other Sums - as applicable - 30
196B - Income from units - 10 10 20
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2013-14 View_Caculate_Find_out_various_key_points_relating_to_TDS
Company / Firm /
Co-operative
Nature of Payment Made To Residents Threshold ( Society / Local Individual / HUF
Rs.) Authority
Section - Description Rate (%) Rate (%)
192 - Salaries - NA Average rates as
applicable
193 - Interest on securities - 10 10
194 - Dividends - 10 10
194A - Interest other than interest on securities - Others 5000 10 10
194A - Banks 10000 10 10
194B - Winning from Lotteries 10000 30 30
194BB - Winnings from Horse Race 5000 30 30
194 C - Payment to Contractors - - -
- Payment to Contractor - Single Transaction 30000 2 1
- Payment to Contractor - Aggregate During the F.Y. 75000 2 1
- Contract - Transporter who has provided valid PAN - - -
194D - Insurance Commission 20000 10 10
194E - Payment to Non-Resident Sportsmen or Sports Association - 20 20
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2013-14 View_Caculate_Find_out_various_key_points_relating_to_TDS
Company / Firm /
Co-operative
Nature of Payment Made To Residents Threshold ( Society / Local Individual / HUF
Rs.) Authority
Section - Description Rate (%) Rate (%)
194H - Commission / Brokerage 5000 10 10
194I - Rent - Land and Building 180000 10 10
194I - Rent - Plant / Machinery 180000 2 2
194IA -Transfer of certain immovable property other than agriculture - - -
land(upto 31-5-2013)
194IA -Transfer of certain immovable property other than agriculture 5000000 1 1
land(w.e.f 1-6-2013)
194J - Professional Fees 30000 10 10
194LA - Immovable Property 200000 10 10
194LB - Income by way of interest from infrastructure debt fund (non- - 5 5
resident)
Sec 194 LC - Income by way of interest by an Indian specified company - 5 5
to a non-resident / foreign company on foreign currency approved
loan / long-term infrastructure bonds from outside India (applicable
from July 1, 2012)
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2013-14 View_Caculate_Find_out_various_key_points_relating_to_TDS
Company / Firm /
Co-operative
Nature of Payment Made To Residents Threshold ( Society / Local Individual / HUF
Rs.) Authority
Section - Description Rate (%) Rate (%)
194LD - Interest on certain bonds and govt. Securities(from 01-06-2013) - 5 5
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
If No /
Invalid PAN
Rate (%)
30
20
20
20
20
30
30
-
20
20
20
20
20
20
20
20
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
If No /
Invalid PAN
Rate (%)
20
20
20
-
20
20
20
20
20
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
If No /
Invalid PAN
Rate (%)
20
30
20
20
20
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2014-15 View_Caculate_Find_out_various_key_points_relating_to_TDS
Company / Firm /
Nature of Payment Made To Residents Co-operative Society Individual / HUF
Threshold (Rs.) / Local Authority
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2014-15 View_Caculate_Find_out_various_key_points_relating_to_TDS
Company / Firm /
Nature of Payment Made To Residents Co-operative Society Individual / HUF
Threshold (Rs.) / Local Authority
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2014-15 View_Caculate_Find_out_various_key_points_relating_to_TDS
Company / Firm /
Nature of Payment Made To Residents Co-operative Society Individual / HUF
Threshold (Rs.) / Local Authority
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
If No / Invalid
PAN
Rate (%)
30
20
20
20
20
30
30
-
20
20
20
20
20
20
20
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
If No / Invalid
PAN
Rate (%)
20
20
20
20
20
20
20
20
20
20
20
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Home
If No / Invalid
PAN
Rate (%)
20
30
20
20
20
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2015-16 View_Caculate_Find_out_various_key_points_relating_to_TDS
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2015-16 View_Caculate_Find_out_various_key_points_relating_to_TDS
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2015-16 View_Caculate_Find_out_various_key_points_relating_to_TDS
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2015-16 View_Caculate_Find_out_various_key_points_relating_to_TDS
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2015-16 View_Caculate_Find_out_various_key_points_relating_to_TDS
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
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Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore
Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
192 - Salaries - NA Average rates as 30 - -
applicable
192A - Payment of accumulated 30000 - 10% (1-April-2016 30 - -
balance due to an employee. to 31-May-2016)
(applicable from 01.06.2015)
10% (1-Jun-2016 to
31-Mar-2017)
193 - Interest on securities 10000 10 10 20 - -
194 - Dividends 2500 10 10 20 - -
194A - Interest other than - 10 10 20 - -
interest on securities - Others
194A - Banks 10000 10 10 20 - -
194B - Winning from Lotteries 10000 30 30 30 15 2
13AqmiwoRwR6grdFZSWQ1tDxDN9qkhwaPd
Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore
Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
194BB - Winnings from Horse 5000 (1-April-2016 30 30 30 15 2
Race to 31-May-2016)
10000 (1-Jun-2016
to 31-Mar-2017)
100000 (1-April-
2016 to 31-Mar-
2017)
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Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore
Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
- Contract - Transporter who has - - - 20 - -
provided valid PAN
194D - Insurance Commission 20000 (1-April- 10 5 20 - -
2016 to 31-May-
2016)
15000 (1-June-
2016 to 31-Mar-
2017)
1 % (1-June- 1 % (1-June-2016 to
2016 to 31- 31-Mar-2017)
Mar-2017)
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Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore
Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
194E - Payment to Non-Resident - 20 20 20 12 2
Sportsmen or Sports Association
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Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore
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Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore
Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
194IA -Transfer of certain 5000000 1 1 20 - -
immovable property other than
agriculture land(w.e.f 1-6-2013)
250000 (1-June-
2016 to 31-Mar-
2017)
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Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore
Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
194LBA - Certain income from - 10 10 20 - -
units of a business
trust(applicable from
01.10.2014)
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Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
194LBB - Income in respect of - Society / Local 20/30/40 income exceeds15 between Rs.12
units of investment fund. Authority Rs.1 Crore) Crore and 10
(applicable from 01.06.2015) Crore
Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
40% For Non 30 % For
Residents (1- NonResidents (1-
Jun-2016 to Jun-2016 to 31-
31-Mar-2017) Mar-2017)
Sec 194LBC - Income in respect - 30% For 25% For Residents 25/30/40 15 2
of investment in securitisation Residents
trust.
40% For Non 30% For Non
Residents Residents
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Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore
Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
Sec 194 LC - Income by way of - 5 5 20 15 2
interest by an Indian specified
company to a non-resident /
foreign company on foreign
currency approved loan / long-
term infrastructure bonds from
outside India (applicable from
July 1, 2012)
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Financial Year 2016-17 View_Caculate_Find_out_various_key_points_r
Nature of Payment Made To Threshold (Rs.) Company / Individual / HUF If No / Non Residents Non Resident
Residents Firm / Co- Invalid other than companies if
operative PAN company (if income is
Society / Local income exceeds between Rs.1
Authority Rs.1 Crore) Crore and 10
Crore
Section - Description IT Rate (%) IT Rate (%) IT Rate (%) Surcharge Rate Surcharge
(%) Rate (%)
196A-Foreign comp unit holder - 10 20 20 15 2
of MF
196B - Income from units - 10 10 20 15 2
196C-Income from foreign - 10 10 20 15 2
currency bonds or GDR
(including long-term capital gains
on transfer of such bonds) (not
being dividend)
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Surcharge Rate Surcharge Rate
(%) (%)
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Financial Year 2017-18 View_Caculate_Find_out_various_key_points_relati
16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company /
If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold ( operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
/ Local Authority
Rs.) Crore) Rs.1 Crore)
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Non residents other Non Residents
Company /
If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold ( operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
/ Local Authority
Rs.) Crore) Rs.1 Crore)
16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company /
If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold ( operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
/ Local Authority
Rs.) Crore) Rs.1 Crore)
16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company /
If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold ( operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
/ Local Authority
Rs.) Crore) Rs.1 Crore)
16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company /
If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold ( operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
/ Local Authority
Rs.) Crore) Rs.1 Crore)
16.18.1.22.5.19.8√97263.0458756048
Home
t_various_key_points_relating_to_TDS
Non
Resident
companies Non Resident Surcharge on
companies if Coperative Society &
if income is income is Firms in case of Non-
between
Rs.1 Crore greater than Residents(if income
Rs.10 Crore exceeds Rs. 1 crore)
and 10
Crore
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Non
Resident
companies Non Resident Surcharge on
if income is companies if Coperative Society &
income is Firms in case of Non-
between
Rs.1 Crore greater than Residents(if income
Rs.10 Crore exceeds Rs. 1 crore)
and 10
Crore
2 5 12
2 5 12
2 5 12
2 5 12
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- - -
- - -
16.18.1.22.5.19.8√97263.0458756048
Non
Resident
companies Non Resident Surcharge on
if income is companies if Coperative Society &
income is Firms in case of Non-
between
Rs.1 Crore greater than Residents(if income
Rs.10 Crore exceeds Rs. 1 crore)
and 10
Crore
- - -
- - -
2 5 12
- - -
2 5 12
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Non
Resident
companies Non Resident Surcharge on
if income is companies if Coperative Society &
income is Firms in case of Non-
between
Rs.1 Crore greater than Residents(if income
Rs.10 Crore exceeds Rs. 1 crore)
and 10
Crore
2 5 12
2 5 12
16.18.1.22.5.19.8√97263.0458756048
Non
Resident
companies Non Resident Surcharge on
if income is companies if Coperative Society &
income is Firms in case of Non-
between
Rs.1 Crore greater than Residents(if income
Rs.10 Crore exceeds Rs. 1 crore)
and 10
Crore
- - -
2 5 12
2 5 12
2 5 12
2 5 12
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Non
Resident
companies Non Resident Surcharge on
if income is companies if Coperative Society &
income is Firms in case of Non-
between
Rs.1 Crore greater than Residents(if income
Rs.10 Crore exceeds Rs. 1 crore)
and 10
Crore
16.18.1.22.5.19.8√97263.0458756048
Financial Year 2018-19 View_Caculate_Find_out_various_key_points_relati
16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company / If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
(Rs.) / Local Authority Crore) Rs.1 Crore)
16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company / If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
(Rs.) / Local Authority Crore) Rs.1 Crore)
194J - Professional Fees 30000 IT Rate20 - Surcharge Rate (%) - Surcharge Rate
Section - Description IT Rate (%) IT Rate (%)
(%) (%)
2 - Where payee 2 - Where
engaged only in payee
the business of engaged only
operation of call in the
centre business of
operation of
call centre
16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company / If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
(Rs.) / Local Authority Crore) Rs.1 Crore)
16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company / If No / than company (if other than
Nature of Payment Made To Firm / Co- Individual / Invalid income between company (if
Residents Threshold operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
(Rs.) / Local Authority Crore) Rs.1 Crore)
16.18.1.22.5.19.8√97263.0458756048
Home
t_various_key_points_relating_to_TDS
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16.18.1.22.5.19.8√97263.0458756048
Non Resident Non Resident Surcharge on
companies if companies if Coperative Society &
income is income is Firms in case of Non-
between Rs.1 greater than Residents(if income
Crore and 10 Rs.10 Crore exceeds Rs. 1 crore)
Crore
- - -
- - -
2 5 12
2 5 12
2 5 12
2 5 12
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16.18.1.22.5.19.8√97263.0458756048
Non Resident Non Resident Surcharge on
companies if companies if Coperative Society &
income is income is Firms in case of Non-
between Rs.1 greater than Residents(if income
Crore and 10 Rs.10 Crore exceeds Rs. 1 crore)
Crore
- - -
2 5 12
- - -
2 5 12
2 5 12
16.18.1.22.5.19.8√97263.0458756048
Non Resident Non Resident Surcharge on
companies if companies if Coperative Society &
income is income is Firms in case of Non-
between Rs.1 greater than Residents(if income
Crore and 10 Rs.10 Crore exceeds Rs. 1 crore)
Crore
2 5 12
16.18.1.22.5.19.8√97263.0458756048
Non Resident Non Resident Surcharge on
companies if companies if Coperative Society &
income is income is Firms in case of Non-
between Rs.1 greater than Residents(if income
Crore and 10 Rs.10 Crore exceeds Rs. 1 crore)
Crore
- - -
2 5 12
2 5 12
2 5 12
2 5 12
2 5 12
16.18.1.22.5.19.8√97263.0458756048
Financial Year 2019-20 View_Caculate_Find_out_various_key_points_relat
16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company / If No / than company (if other than
Firm / Co- Individual /
Nature of Payment Made To Residents Invalid income between company (if
Threshold operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
(Rs.) / Local Authority Crore) Rs.1 Crore)
16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company / If No / than company (if other than
Firm / Co- Individual /
Nature of Payment Made To Residents Invalid income between company (if
Threshold operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
(Rs.) / Local Authority Crore) Rs.1 Crore)
16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company / If No / than company (if other than
Firm / Co- Individual /
Nature of Payment Made To Residents Invalid income between company (if
Threshold operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
(Rs.) / Local Authority Crore) Rs.1 Crore)
16.18.1.22.5.19.8√97263.0458756048
Non residents other Non Residents
Company / If No / than company (if other than
Firm / Co- Individual /
Nature of Payment Made To Residents Invalid income between company (if
Threshold operative Society HUF PAN Rs.50 lakh and Rs. 1 income exceeds
(Rs.) / Local Authority Crore) Rs.1 Crore)
16.18.1.22.5.19.8√97263.0458756048
Home
t_various_key_points_relating_to_TDS
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16.18.1.22.5.19.8√97263.0458756048
Non Resident Non Resident Surcharge on
companies if companies if Coperative Society &
income is income is Firms in case of Non-
between Rs.1 greater than Residents(if income
Crore and 10 Rs.10 Crore exceeds Rs. 1 crore)
Crore
2 5 12
2 5 12
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2 5 12
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- - -
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16.18.1.22.5.19.8√97263.0458756048
Non Resident Non Resident Surcharge on
companies if companies if Coperative Society &
income is income is Firms in case of Non-
between Rs.1 greater than Residents(if income
Crore and 10 Rs.10 Crore exceeds Rs. 1 crore)
Crore
- - -
2 5 12
- - -
2 5 12
2 5 12
16.18.1.22.5.19.8√97263.0458756048
Non Resident Non Resident Surcharge on
companies if companies if Coperative Society &
income is income is Firms in case of Non-
between Rs.1 greater than Residents(if income
Crore and 10 Rs.10 Crore exceeds Rs. 1 crore)
Crore
2 5 12
16.18.1.22.5.19.8√97263.0458756048
Non Resident Non Resident Surcharge on
companies if companies if Coperative Society &
income is income is Firms in case of Non-
between Rs.1 greater than Residents(if income
Crore and 10 Rs.10 Crore exceeds Rs. 1 crore)
Crore
- - -
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16.18.1.22.5.19.8√97263.0458756048
FORM NO. 10-IA
[See sub-rule (2) of rule 11A]
Certificate of the medical authority for certifying ‘person with disability’, ‘severe disability’,
‘autism’, ‘cerebral palsy’ and ‘multiple disability’ for purposes of section 80DD and section 80U
Certificate No.
Date :
This is to certify that Shri/Smt./Ms._______________________________ son/daughter of
Shri_________________________________, age______ years___________male/female*
residing at____________________________________, Registration No.__________is a
person with disability/severe disability* suffering from autism/cerebral palsy/multiple
disability*.
2. This condition is progressive/non-progressive/likely to improve/not likely to improve*.
Sd/-
(Neurologist/Pediatric Neurologist/Civil Surgeon/ Chief
Medical Officer*)
Name :___________________
Address of Institution/Government hospital :
____________________________________
____________________________________
Qualification/designation of specialist :____________________
SEAL
Signature/Thumb impression* of the patient
Note : *Strike out whichever is not applicable.