Computation of income from salary
This query is : Open
Rajkumar Gutti
(Querist)
21 March 2018
Following is the our employee computation of income from salary .F.Y.17-18
Salary income 472608
Less -eligible (least) exemption of HRA 20700
salary Income 451908
ADD-Income from saving bank A/C Int. 2000
Total Income 453908
Less Deduction Deduction U/s 80TT 2000
Qualifying Income 451908
Deduction U/s 80c 85846
Deduction U/s 80DD 75000
Total Taxable Income 291062
Income Tax 2053
Less -Rebate U/s 87 A 2053
Income Tax payable 0
You are requested to Pl give your opinion this is correct or any correction
require.
Regards
Rajkumar Gutti
Salary income 472608
Less -eligible (least) exemption of HRA 20700
salary Income 451908
ADD-Income from saving bank A/C Int. 2000
Total Income 453908
Less Deduction Deduction U/s 80TT 2000
Qualifying Income 451908
Deduction U/s 80c 85846
Deduction U/s 80DD 75000
Total Taxable Income 291062
Income Tax 2053
Less -Rebate U/s 87 A 2053
Income Tax payable 0
You are requested to Pl give your opinion this is correct or any correction
require.
Regards
Rajkumar Gutti
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Import of Software Service.
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- TDS on Fixed Assets purchased
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- GST on Renting godown to KFCSC for Storage of Raagi
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Under marginal scheme
- Capitalgain tax purposes for valuation report compulsory
- Capital Gail Exemption Certificate
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
