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Income Tax Software 2016-17 Model Calculation for Teachers IT Calculator

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Income Tax Model Calculation Financial year 2016-17 for Employees



IT Calculation Assessment year 2017-18 for Teachers


* Name of the Employee   :  Sri. K.Chandra Sekhar Rao
* Working Place ( Office ) :  ZPHS, Jonnagiri , Tuggali (Mandal)
* Designation                    :  Secondary Grade Teacher
* Office Address               :  ZP High School,Jonnagiri,Tuggali ( Mandal )  

1 Whether living in :    Rented House
              PAN No : ASKPRT325V
             Treasury Id. No : 098756
2 Gross Salary :                                                                                  Rs. 295,748 

3 H.R.A. Exemption as per eligibility U/s. 10(13-A)
          a) Actual HRA received                                                            Rs. 16,408
          b) Actual House Rent paid by you minus 10% of your Salary  Rs. 17,760
          c) 40% of Salary (Salary means Basic Pay+D.A)                     Rs. 16,408

4 Total Salary (2-3)                                                                             Rs.279,340

5 Deductions from Salary Income

  1.  a) Exemption from Conveyance Allowance U/s. 10(14) (i) Rs. - 
  2.  b) Profession Tax U/s 16 (3) B Rs. 2,400 
6 Income From Salary (4-5)                                     Rs. 276,940
7 Add: Income From other sources                         Rs. -
8 Add: Income From Capital Gains                         Rs. -
9 Income or Loss from House Property U/s 24(vi)  Rs. - 

10 Gross Total Income (6+7+8+9)                          Rs. 276,940
11 Deductions
              
              a) 80G E.W.F. & S.W.F & CMRF                                                            Rs. 1,170 
              b) 80E Interest of Educational Loan                                                    Rs. -  
              c) 80DDB Expenditure on treatment for diseases( senior citizen)   Rs. - 
              d) 80E Interest of Housing Loan                                                          Rs. -  
              e) 80U Disabled Person(PH)-above 80%disability( Rule 11A)           Rs. - 
              f) 80d Employees Health Cards Premium in AP                                 Rs. 360 

TOTAL-----------                                                                                              Rs. 1,530

12 Gross Total Income (10-11)                                                                  Rs. 275,410

13 Savings U/s 80C ( Limited to Rs.1,50,000 )


      a) PF No: 56987                                                   Rs. 17,883
      b) APGLI No: L-236548                                       Rs. 12,000
      c) GIS                                                                   Rs.     360
      d) LIC Policies Monthly Premium in Salary     Rs.    -
      e) LIC Policies premium - Yearly                      Rs.    -
      f) Repayment of Home Loan installments       Rs.    -
      g) Tuition Fee for Two children                        Rs.    -
      h) PLI                                                                  Rs.    -
      i) Rajiv Gandhi Equity Saving Scheem           Rs.    -
      j) Any Other Entry                                             Rs.    -


Total Savings                                       Rs. 30,243



14 Net Taxable Income (12-13)          Rs. 245,167

15 Tax on Income = 245167 - 250000                Tax         Rs. 0

     a) Upto-2,50,000                                                           Rs. Nil
     b) 2,50,001/- to 5,00,000/- 10%                                    Rs. -
     c) 5,00,001/- to 10,00,000/- 20%                                  Rs. 0
     d) above Rs.10,00,001 - 30%                                       Rs. 0

16 Tax Rebate Rs. 2000/-upto Rs.5,00,000 Taxble Income( U/s 87 A)      Rs. -
17 Total Tax Payable (15-16) -                                                                    Rs. -
18 Education Cess 1%+ Secondary & Higher Education Cess 2%            Rs. 0
19 Total  Tax                                                                                              Rs.  Nil 
20 Details of Adv.Tax Deductions Advance Tax paid -  0

a) Mar-16 to May-16   Rs.
b) Jun-16 to Aug-16    Rs.
c) Sep-16 to Nov-16   Rs.
d) Dec-16                   Rs.
e) Jan-17                    Rs.
f) Feb-17                    Rs.

Signature of the Drawing Officer                                             Signature of the Employee 



* Income Tax 2016-17 Software Download ( Trail Version )  






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