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Calculate computaion of total income

745 views 2 replies

Venkatesh L

Proprietor

87 Points Posted on 26 February 2012

Please calculate the computation of total taxable income from salary. Iam giving attachment also

1 Net Pay 371984

2 Interest on Education loan 19975

3 Interest on Housing Loan 41910

4 He is Disable person and he is having 45% of Disability certificate U/s 80u or 80G

5 Lic 7000

6 GPF 11000

7 He is getting HRA and self occupied house 37680

thank u.

Attached File : 525242 938618 income from salary of g satyanarayana.xlsx downloaded: 145 times

Replies (2)

CA Aspirant!

CA Fresher

112 Points Posted on 27 February 2012

INCOME FROM SALARY: net pay 371984 add : HRA fully taxable 37680 SO SALARIES :409664 INCOME FROM HP: NAV nil Less : int on H/l 41910 SO HP : (41910) GTI = 367754 Less :80C LIC 7000 PF 11000 total = 18000 Less :80E 19975 Less :80U 50000(assuming normal disability TOTAL INCOME : 279779

Giridhar S Karandikar

Team Lead

7558 Points Posted on 02 March 2012

Would appreciate if you could provide the Gross pay figures with the figures of Basic Pay also, as it will be requried to calculate the exemption from HRA. Also please provide the Rent paid by the assessee for teh purpose of calculating HRA exemption.