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Computation of gross salary

ITR 477 views 3 replies

It would be great if anyone help me to compute Taxable Income from the below details. I need this to pay Self assesment TAX and submit ITR2.

TOTAL TAXABLE INCOME FROM SALARY(INCOME) = 408000.00  It including HRA, perfomance allwce, i.e INCOME CHARGEABLE UNDER THE HEAD SLARY) 

salary slip break up following

Basic salary 24480,HRA 8500,Perfomance allowance 1020. (total 34000)

 

Replies (3)
ACTUAL HOUSE RENT PAID? IN WHICH CITY YOU RESIDE?
TAXABLE INCOME WOULD INCLUDE BASIC SALARY - FULLY TAXABLE PERFOMANCE ALLOWANCE -FULLY TAXABLE HRA WILL EXCEMPT AS UNDER MINIMUM OF HRA RECEIVED RENT PAID -10% OF BASIC SALARY 40% OF BASIC SALARY IF YOUR CITY IS NOT METRO CITY AND 50% OF BASIC SALRY IF YOU RESIDE IN DELHI MUMBAI KOLKATA & CHENNAI

ACTUAL HOUSE RENT PAID Rs. 8000

IN WHICH CITY YOU RESIDE? non metro city


 


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