IT calculation FY 2017-18 salaries
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File description
I’m pleased to share the attached IT calc FY 2017-18 on salaries; it includes
NSC vii issue interest calc, rent receipt form and computation sheet. The file
compatible with ms-excel 2003 ver.; it will also work with other versions.
The controls assigned at cell levels as per IT rules/provisions. The HRA- rent & transport exemptions allowed subject to monthly limits; hence if you get arrears of previous
months; you can get it distributed monthly basis to compute the tax correctly.
The tax calculate with the formula of marginal relief i.e. in case levy of surcharge on
Income tax for the taxable salary above 50lakh and 1crore. I shall appreciate and welcome your suggestions. Best regards, Vijay
#xls
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