Q7.
SALARY INCREASE DURING YEAR
| PARTICULARS | APRIL TO NOV | DEC To MARCH | Remarks |
| BASIC | 30000 | 33000 | |
| Transport | 2500 | 2750 | |
| Special Pay | 40000 | 44000 | |
| CEA | 500 | 550 | (for 1 child) |
| HRA | 15000 | 16500 | (rent receipts submitted for 19000 pm) |
Calculate tds from April to Nov and Dec-March
View answer
| PARTICULARS | APRIL TO NOV | DEC-MARCH | ||||
| AMOUNT RECEIVED | EXEMPT | TAXABLE | AMOUNT RECEIVED | EXEMPT | TAXABLE | |
| BASIC | 30000 | 0 | 30000 | 33000 | 0 | 33000 |
| Transport | 2500 | 0 | 2500 | 2750 | 0 | 2750 |
| Special Pay | 40000 | 0 | 40000 | 44000 | 0 | 44000 |
| CEA | 500 | 100 | 400 | 550 | 100 | 450 |
| HRA | 15000 | 12000 | 3000 | 16500 | 13200 | 3300 |
| TOTAL | 88000 | 12100 | 75900 | 96800 | 13300 | 83500 |
Working Note for HRA
| Particular | April-Nov | Dec-March |
| GROSS SALARY | 88000 | 96800 |
| MONTHLY TAXABLE SALARY | 75900 | 83500 |
| Income from salries | 910800 | 966200 |
| Less Standard Deduciton | 50000 | 50000 |
| Net Annual Income | 860800 | 916200 |
| TAX | 84660 | 95740 |
| REBATE | 0 | 0 |
| NET TAX | 84660 | 95740 |
| CESS | 3386 | 3830 |
| TAX+ CESS | 88046 | 99570 |
| TDS | 7337 | 10219 |
| NET SALARY | 80663 | 86581 |
| ACTUAL HRA | 15000 |
| RENT PAID-10%*(BASIC+DA) | 16000 |
| 40%*BASIC+DA | 12000 |
| MINIMUM EXAMPT | 12000 |
| DEC. MARCH | |
| ACTUAL HRA | 16500 |
| RENT PAID-10%*(BASIC+DA) | 15700 |
| 40%*BASIC+DA | 13200 |
| MINIMUM EXAMPT | 13200 |
Working Note
| Particular | Amount |
| TOTAL TAX | 99570 |
| LESS: TAX ALREADY DEDUCTED | 58696 |
| BALANCE TAX | 40874 |
| BALANCE MONTHS | 4 |
| BALANCE TDS | 10219 |