Q5.
| Particulars | Amt | Remarks |
| Basic pay | 60000 | |
| DA(dearness Allowance) | 10000 | |
| DA (Daily Allowance) | 5000 | (25 days *200/day,he came to work for 23 days) |
| HRA | 15000 | (He lives and works in Bangalore an pays rent of 16000) |
| Special Allowance | 7000 | |
| CCA (City Compensatory Allowance_) | 2000 | |
| Annual Incentive | 25000 | (Received In April) |
What is Gross Salary,TDS and Net Salary
View Answer| PARTICULARS | AMOUNT RECEIVED | EXEMPT | TAXABLE |
| Basic pay | 60000 | 0 | 60000 |
| DA(dearness Allowance) | 10000 | 0 | 10000 |
| DA (Daily Allowance) | 5000 | 4600 | 400 |
| HRA | 15000 | 9000 | 6000 |
| Special Allowance | 7000 | 0 | 7000 |
| CCA (City Compensatory Allowance_) | 2000 | 0 | 2000 |
| Annual Incentive | 25000 | 0 | 25000 |
| TOTAL | 124000 | 13600 | 110400 |
| Particular | Amount |
| GROSS SALARY | 124000 |
| MONTHLY TAXABLE SALARY(EXCLUDING INCENTIVE) | 85400 |
| ANNUAL SALARIES | 1024800 |
| ANNUAL INCENTIVE | 25000 |
| Income from salries | 1049800 |
| Less Standard Deduciton | 50000 |
| Net Annual Income | 999800 |
| TAX | 112460 |
| REBATE | 0 |
| NET TAX | 112460 |
| CESS | 4498 |
| TAX+ CESS | 116958 |
| TDS | 9747 |
| NET SALARY | 114253 |
Working Note for HRA
| Particular | Amount |
| ACTUAL HRA | 15000 |
| RENT PAID-10%*(BASIC+DA) | 9000 |
| 40%*(BASIC+DA) | 28000 |
| MINIMUM IS EXEMPT | 9000 |
Q6.
| Particulars | Amt | Remarks |
| Basic pay | 60000 | |
| DA(dearness Allowance) | 10000 | |
| DA (Daily Allowance) | 5000 | (25 days *200/day,he came to work for 23 days) |
| HRA | 15000 | (He lives and works in Bangalore an pays rent of 16000) |
| Special Allowance | 7000 | |
| CCA (City Compensatory Allowance_) | 2000 | |
| Annual Incentive | 25000 | (Received In sept) |
Calculate TDS from April to Aug and Sept to March separately)
View Answer| PARTICULAR | AMOUNT REC | EXEMPTIONS | TAXABLE |
| Basic pay | 60000 | 0 | 60000 |
| DA(dearness Allowance) | 10000 | 0 | 10000 |
| DA (Daily Allowance) | 5000 | 4600 | 400 |
| HRA | 15000 | 9000 | 6000 |
| Special Allowance | 7000 | 0 | 7000 |
| CCA (City Compensatory Allowance_) | 2000 | 0 | 2000 |
| Annual Incentive | 25000 | 0 | 25000 |
| 124000 | 0 | 110400 |
Working Note for HRA
| Particular | April - Aug | Sep - March |
| GROSS SALARY | 99000 | 124000 |
| MONTHLY TAXABLE SALARY(EXCLUDING INCENTIVE) | 85400 | 85400 |
| ANNUAL SALARIES | 1024800 | 1024800 |
| ANNUAL INCENTIVE | 0 | 25000 |
| Income from salries | 1024800 | 1049800 |
| Less Standard Deduciton | 50000 | 50000 |
| Net Annual Income | 974800 | 999800 |
| TAX | 107460 | 112460 |
| REBATE | 0 | 0 |
| NET TAX | 107460 | 112460 |
| CESS | 4298 | 4498 |
| TAX+ CESS | 111758 | 116958 |
| TDS | 9313 | 10056 |
| NET SALARY | 89687 | 113944 |
Working note for TDS
| Particular | Amount |
| TOTAL TAX | 116958 |
| LESS: TAX ALREADY DEDUCTED | 46565 |
| BALANCE TAX | 70393 |
| BALANCE MONTHS | 7 |
| BALANCE TDS | 10056 |
