Hai,
I given my Sisters dec mnth salary sip Form16 summary. Inthis can anyone tell how much is my Taxable income.
Form 16 Summary:
------------------
Gross Salary - 2,97,438.66
Exemption U/S 10 - 58,547.84
Balance - 2,38,890.82
Empmnt Tax (pro Tax) - 1,095.00
Aggrg Deduction - 1,095.00
Incm under Hd Salary - 2,37,795.82
Gross Total Income - 2,37,795.82
Agg of Chapter VI - 1,00,000.00
Total Income - 1,37,800.00.
In this I planned to give HRA Rs.7,500.00 as her actual HRA is 8,500/ mnt and also she is paying 8,000 Rs per mnth as rent in metro. After that how much amount she need to invest in any of the insurence premiums. Pls tell me quickly. B'cause she has to report it within couple of days.( Basic Pay is Rs.10,050 Pf deduction is Rs.1206 per mnth.)
From India, Delhi
I given my Sisters dec mnth salary sip Form16 summary. Inthis can anyone tell how much is my Taxable income.
Form 16 Summary:
------------------
Gross Salary - 2,97,438.66
Exemption U/S 10 - 58,547.84
Balance - 2,38,890.82
Empmnt Tax (pro Tax) - 1,095.00
Aggrg Deduction - 1,095.00
Incm under Hd Salary - 2,37,795.82
Gross Total Income - 2,37,795.82
Agg of Chapter VI - 1,00,000.00
Total Income - 1,37,800.00.
In this I planned to give HRA Rs.7,500.00 as her actual HRA is 8,500/ mnt and also she is paying 8,000 Rs per mnth as rent in metro. After that how much amount she need to invest in any of the insurence premiums. Pls tell me quickly. B'cause she has to report it within couple of days.( Basic Pay is Rs.10,050 Pf deduction is Rs.1206 per mnth.)
From India, Delhi
She is not falling under taxable income. Her taxable income is 137,800 whereas she has got ceiling upto 190,000 Regards R.Ponraj
From India, Lucknow
604From India, Lucknow
No need to invest. Her slaray is under limit ans not taxable. If she want to invest any more she can choose VPF/PPF account saving.
From India, New Delhi
From India, New Delhi
Hi Pradeep,
I think this is projected calculation till March 2011, and the deduction u/s 10 & chapter VI A also may be declared amount. Please confirm Agg of Chapter VI - 1,00,000.00 is a declared amount of investment, if so, what is the actual investment she have. If she do not have any investment, then PF (1206*12 = 14472) will be the actual amount under Chapter VIA, then the gross taxable income will increase. ie , it will be 237796-14472 = 223324( 10% tax) ie 3332 + education cess(3%) = 100
So total tax will be 3432/- .
The actual calculation can be given once you give clarification on actual investment
Regards
Siji
From India, Mumbai
I think this is projected calculation till March 2011, and the deduction u/s 10 & chapter VI A also may be declared amount. Please confirm Agg of Chapter VI - 1,00,000.00 is a declared amount of investment, if so, what is the actual investment she have. If she do not have any investment, then PF (1206*12 = 14472) will be the actual amount under Chapter VIA, then the gross taxable income will increase. ie , it will be 237796-14472 = 223324( 10% tax) ie 3332 + education cess(3%) = 100
So total tax will be 3432/- .
The actual calculation can be given once you give clarification on actual investment
Regards
Siji
From India, Mumbai
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