Below are the particulars of 2 form 16 from two different companies for A.Y.2011-12
|
Form -16
|
ABC
|
XYZ
|
|
Period
|
1Apr10 to 30 Sep10 |
1Oct to 31Mar11 |
|
|
|
|
|
Gross Salary |
428960
|
630400
|
|
Less: Allowance Exempt u/s 10 |
|
|
|
Conveyance
|
4800
|
5600
|
|
HRA
|
89740
|
107740
|
|
|
|
|
|
Balance
|
334420
|
517060
|
|
|
|
|
|
Less: Tax on Employment |
1300
|
1300
|
|
|
|
|
|
Income under head Salary |
333120
|
515760
|
|
|
|
|
|
Less: Loss from house property (sohp) |
60000
|
150000
|
|
|
|
|
|
Less Deductions under Chap VI A |
100000
|
100000
|
|
|
|
|
|
Total Income |
173120
|
265760
|
|
|
|
|
|
Tax on Total Income |
1322
|
10576
|
|
Edu Cess
|
40
|
317
|
|
|
1362
|
10893
|
|
|
|
|
|
Less TDS
|
18740
|
10893
|
|
Tax Payable / Refund |
-17378
|
0
|
Tax computation statment prepared considering the above case, plz correct necessary changes required
such as can we claim exemptions allowed in both the form-16. plz if possible support your answer with sections.
|
Tax Computation Statement
|
|
|
|
Gross Salary |
1059360
|
|
|
Less: Allowance Exempt u/s 10 |
|
|
|
Conveyance
|
9600
|
|
|
HRA
|
197480
|
|
|
|
|
|
|
Balance
|
852280
|
|
|
|
|
|
|
Less: Tax on Employment |
2600
|
|
|
|
|
|
|
Income under head Salary |
849680
|
|
|
|
|
|
|
Less: Loss from house property (sohp) |
150000
|
|
|
|
|
|
|
Less Deductions under Chap VI A |
100000
|
|
|
|
|
|
|
Total Income |
599680
|
|
|
|
|
|
|
Tax on Total Income |
53936
|
|
|
Edu Cess
|
1618
|
|
|
|
55554
|
|
|
|
|
|
|
Less TDS
|
29633
|
|
|
Tax Payable |
25921
|
|
Thank you
CAclubindia
