Can you show tax computation

Can you give details of "Reimbursable flexible benefits of Rs. 186,500/-" ?

Hi Mihir !

Thanks for showing your intrest. RFB is monetary pay by the Company. Employee can either set aside part of its amount for cliaming expense (eg.medical cliam, car petrol etc)  or can take the full amount without making any claim. In the given case employee has opted for no claim.

Go ahead !

Basic salary = Rs. 17,670/-

HRA = Rs. 8835/-

Reimbursement = Rs. 186,500/- / 12 = Rs. 15,542/-

Total income = Rs. 42,047/-

Less: PT = Rs. 2,500/- (Rs. 200 x 11 + 300 - because 300 is paid in February)

Total Income = Rs. 39,547/- x 12 = Rs. 474,564/- 

Tax payable = Rs. 26,220/-

Monthly TDS deduction = Rs. 26,220 / 12 = Rs. 2,185/-

If the TDS is calculated on income plus PT then tax payable shall be Rs. 31,840/-

Monthly TDS deduction comes to Rs. 31,840 / 12 = Rs. 2,653/-

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