Request if you can confirm my tax calculation

Nazneen Patel (MBA) (29 Points)

04 September 2015  

Hi all,

I joined a new organization on 19th August 2014 last year...I'm providing details of all my salary slips and bonus last year.

My tax calculation is there below this.....request if you can verfiy the same.

Month basic hra conveyance medical telephone gross salary TDS deducted
Aug-14 14248 7129 335 1250 1500 24462 1200
Sep-14 37783 17000 800 1250 1500 58333 1200
Oct-14 37783 17000 800 1250 1500 58333 1200
Nov-14 37783 17000 800 1250 1500 58333 1200
Dec-14 37783 17000 800 1250 1500 58333 1200
Jan-15 37783 17000 800 1250 1500 58333 1200
Feb-15 37783 17000 800 1250 1500 58333 6751
Mar-15 37783 17000 800 1250 1500 58333 6750
Bonus           14105  
Total 278729 126129 5935 10000 12000 446898 20701

Basic and telephone allowance are fully taxable as I did not submit my telephone bills.

Conveyance exemption as you can see from the table above  is Rs.5935

Medical exemption as you can see from the table above is Rs.10000

HRA :

HRA Calculation    
actual HRA received   126129 (Lowest out of the three)
50 % of salary   223449
Rent paid - 10% of salary  66664-44689.8 21974.2

So...the lowest of the three is Rs.126129 which should be considered for exemption

So total deductions = HRA + Conveyance + Medical = 126129 + 5935 + 10000 = 142064

Total salary - total deduction = 446898 -142064 =304834

In Fy 2014-15, female exemption was till Rs.250000 /-

Subtracting 250000 from 304834 gives Rs.54834 / - as the final figure on which nil tax should be deducted.....according to me.

Is my calcualtion correct ?

Pls reply...thanks !