Computation of Income Tax: salary
This query is : Resolved
13 August 2024
Can anyone calculate income Tax from following details :
I. Monthly Components Amount (INR)
1. Basic Salary: 64,900
2. House Rent Allowance (50%): 32,450 ( rent paid 22,000 pm , city: pune)
3. Company contribution to E.P.F./Special Pay I: 7,788
4. Superannuation fund/Special Pay II (15%): 9,735
5. National Pension Scheme/Special Pay III (10%): 6,490
6. Leave Travel Assistance (10%): 8.490
7. Statutory Bonus/Ex-Gratia (20%): 12,980
8. Miscellaneous Allowance: 21,571
Total to be paid monthly (M)= 1,62,404
Total for the year [M12] [A] : 19,48,848
II.Variable Components
1. Annual Performance Bonus [APB] Per Month [M]: 18,333
Total APB 10.0% of Annual Gross Salary [B]: 2,19,996
III.Annual Component
1. Provision for your gratuity[C] (4.0%): 31,152
Annual Gross Salary [A+B+C] =21,99,996
IV. Major Benefits [Average cost per person p.a.)
Insurance and Food" [D] =41,000
Cost To Company (CTC) (A+B+C+D) =22,40,996
I. Monthly Components Amount (INR)
1. Basic Salary: 64,900
2. House Rent Allowance (50%): 32,450 ( rent paid 22,000 pm , city: pune)
3. Company contribution to E.P.F./Special Pay I: 7,788
4. Superannuation fund/Special Pay II (15%): 9,735
5. National Pension Scheme/Special Pay III (10%): 6,490
6. Leave Travel Assistance (10%): 8.490
7. Statutory Bonus/Ex-Gratia (20%): 12,980
8. Miscellaneous Allowance: 21,571
Total to be paid monthly (M)= 1,62,404
Total for the year [M12] [A] : 19,48,848
II.Variable Components
1. Annual Performance Bonus [APB] Per Month [M]: 18,333
Total APB 10.0% of Annual Gross Salary [B]: 2,19,996
III.Annual Component
1. Provision for your gratuity[C] (4.0%): 31,152
Annual Gross Salary [A+B+C] =21,99,996
IV. Major Benefits [Average cost per person p.a.)
Insurance and Food" [D] =41,000
Cost To Company (CTC) (A+B+C+D) =22,40,996
12 August 2025
https://docs.google.com/document/d/1TO4fRBEWW7EzbdWZ1XOTjS1jiEge7FrittM1WLp9b7I/edit?usp=sharing
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
- Price inclusive or exclusive of GST while made entry in P& L Account
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Minimum tax payable to file Updated return
- Tds on commission charges
- Applicability of GST on Salary Reimbursement Component
- Dep. as per companies act
- Salary from Qatar in Dollars in India
- New GST registration for new place of business.
- UDIN ISSUE
- FAST-DS Scheme - Foreign Assets
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- 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
Quick Links
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER
Anupam Parashar & Co.
Ghaziabad
CA Final
View Details
ARTICLESHIP
21 September 2026
CA Article Assistant
KK & Company Chartered Accountant
Pune
CA Inter
View Details
ARTICLESHIP
15 September 2026
Freelance Taxation Content Writer Intern
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
Featured
12 September 2026
Assistant Manager - Finance & Compliance
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
CCI
Pro
CAclubindia
