1 2 3 4 5 6 7 8 9

Enable Macros Go to Declaration sheet and fill in all details required All amounts you enter should be on the annual basis.i.e. for the full year Once the FEP Declartion is complete, click on "Check your FEP Declaration" button to make sure if your declaration is OK Fill in the declation for I Tax purpose If you have availed a Housing Loan, enter interest component also See Your IT Calculation in IT Calculation Sheet See your take home salary details in Salary & Tax Details Sheet Click on the Continue Button to Continue

r declaration is OK

Name Per Month Per year Basic Pay (Please fill in from your offer/revision letter) 10,600 127,200 FEP (Please fill in from your offer/revision letter) 21,416 256,992 Total 32,016 384,192 Please mention the number of children for whom you are claiming education allowance (Maximum 2 If you are claiming housing loan interest, mention whether the same is self-occupied or Let out Your FEP Declaration (annual figures as filled in FEP declaration) Your Tax Declarati Claimed Eligible Conveyance 9,600 9,600 Car - Lease Rental Repairs & Maintenance Insurance & Road Tax Fuel Medical (Non Hospitalisation) LTA HRA Broadband Meal Card (Multiply 1100 by no of months) 13,200 13,200 Special Pay Year End Pay (Do not fill) 234,192

Personal Income Tax Calculator

Sex Competency Date of Joining

Additional Information - Please fill in Do you use Car if yes, CC of the car 28-Feb-11 Co Leased or Own

education allowance (Maximum 2) me is self-occupied or Let out Your Tax Declaration (annual figures as filled in Tax Declaration) Claimed Eligible for Tax Rent Paid 66,000 0 0 Interest on Housing Loan LTA 0 Sec. 80 Contribution to Pension Fund 0 Medical insurance premium 0 Medical insurance premium -Sr Citizen 0 Medical treatment 0 Medical Treatment 0 Int on Repayment Educational Loan 30,000 30,000 Physically handicapped (self) 0 Sec. 80C Life Insurance premium 0 Deferred Annuity 0 Voluntary provident Fund 0 Public Provident Fund 0 Deposit in Post Off Savings Scheme 0 Deposit in NSS 0 Deposit in NSC 0 Interest on NSC reinvested 9 0 ULIP of UTI/LIC 0 Principal repayment on Housing Loan 0 Tax Saving Mutual Fund 0 NHB (National Housing Board) Scheme 0 Others - if any 0 Children Tution Fee 0 Investment in Infrastructure Bonds 0 Any other Income 0

Description Basic Conveyance HRA Spl. Pay Year End Pay Bonus - if any Any other onetime Payments Gross Earnings PF VPF Professional Tax Income Tax Total Deductions Net Pay - monthly

Apr-12 10,600 800 -

May-12 10,600 800 -

Jun-12 10,600 800 -

Jul-12 10,600 800 -

Aug-12 10,600 800 -

11,400 1,272 150 1,422 9,978

11,400 1,272 150 1,422 9,978

11,400 1,272 150 1,422 9,978

11,400 1,272 150 1,422 9,978

11,400 1,272 150 1,422 9,978

Sep-12 10,600 800 -

Oct-12 10,600 800 -

Nov-12 10,600 800 -

Dec-12 10,600 800 -

Jan-13 10,600 800 -

Feb-13 10,600 800 -

Mar-13 Total 10,600 800 127,200 9,600 234,192 370,992 15,264 1,800 17,064 353,928

11,400 1,272 150 1,422 9,978

11,400 1,272 150 1,422 9,978

11,400 1,272 150 1,422 9,978

11,400 1,272 150 1,422 9,978

11,400 1,272 150 1,422 9,978

11,400 1,272 150 1,422 9,978

11,400 1,272 150 1,422 9,978

Based on Your Tax Declaration (as filled in Tax Declaration) 1 Rent Eligibility Actual HRA 40% of Basic Rent Paid less 10% Basic Minimum of the above 2 Income from House Property Rent Received / Receivable for the property Less: Taxes paid Net Annual Value Less: Repair Charges - 30% Net Annual Value Less: Interest on Housing Loan Net Income / Loss - House Property

50,880 53,280 -

Tax Slab - Men Upto Rs.200,000 Rs.200,001 to Rs.500,000 Rs.500,001 to Rs.1000,000 Rs.1000,001 and above

- Nil 10% 20% 30%

Tax Slab - Women Upto Rs.200,000 Rs.200,001 to Rs.500,000 Rs.500,001 to Rs.1000,000 Rs.1000,001 and above

- Nil 10% 20% 30%

Secondary & Higher Education Total Tax Liability

Income Tax Calculation Per Month 10,600 800 Per Year 127,200 9,600 136,800

Basic Conveyance HRA Spl. Pay Year End Pay Perquisite Bonus - if any Any other onetime Payments Allowance exempt u/s 10 i. HRA Exemption ii Conveyance iii Other Receipt / Allownace iv Profession Tax Income under Head Salaries Add: Other Income declared Interest on repayment of Housing Loan Gross Total Income Deduction UnderChapter VIA Sec 80C - LIC Premium PF On Salary Voluntary provident Fund Public Provident Fund Investment Infra stru Bonds Housing Loan - Principle Others Sec 80D - Medical Insurance Contr to Pension Fund Others Aggregate UnderChapter VIA Total Taxable Income Total Tax Payable Taxed at 30% Taxed at 20% Taxed at 10% Exempt Tax on Total Income Education Cess Secondary & Higher Education Cess Total Tax Liability

11,400 9,600 1,800

11,400 125,400 125,400

15,264 30,000

15,264

30,000 45,264 80,136

80,136

Dear MindTree Minds,

This is with regard to the implication of new budget proposal on our FEP components. The details are given belo 1.

FEP- Food coupons : As per the rules of Income tax Act, Food coupons (Non Taxable) can be iss

However we will revisit the food coupons limits once we get clarity from the government on the rules and

2.CarrelatedexpensesunderFEPCarfuel,Insurance,MaintenanceandRoadTax. The perquisite value of the car related expenses depends upon the ownership and cubic capacity (CC) of If the car is taken under the existing operating leasing plan, the same can be treated as car provided / h SL No 1 2 3 4 Title CC of the Car

Car under operating lease - MindTree Car lease scheme <1600 CC Car under operating lease - MindTree Car lease scheme >1600 CC Privately owned car- Car in MindTree Mind's name Privately owned car- Car in MindTree Mind's name <1600 CC >1600 CC

For example: If a Mind claims car fuel of Rs 5000/- per month and if he is under MindTree car lease sche

Since the tax treatment on privately owned cars is still a grey area, we will be keeping all the reimbursem 3. 4.

Broadband reimbursement is not part of perquisite and hence will continue to be reimbursed as

There is no change in tax impact regard to Conveyance allowance (Rs.800 per month) or for M

5. CompanyLeasedAccommodation(CLA) There will be no FBT on the deposit amount paid by 15% of the Total taxable income will be considered as perquisite. 6. 7.

Loans to employees The difference between interest rate charged by company and the curren

ESOP: The difference between market price on Exercise date and Grant price will be taxed on Exe

on our FEP components. The details are given below:

e tax Act, Food coupons (Non Taxable) can be issued only to the extent of Rs.50 per day (Rs.1100 per month). Hence , w get clarity from the government on the rules and give the options accordingly .

Insurance,MaintenanceandRoadTax. ds upon the ownership and cubic capacity (CC) of the car. plan, the same can be treated as car provided / hired by the employer, the details of perquisites are given below Taxable Rs 1800 Per month Rs 2400 Per month Total reimbursement minus Rs 1800 is taxable Total reimbursement minus Rs 2400 is taxable Tax free Total lease rental plus fuel expenses minus Rs 1600 is tax free Total lease rental plus fuel expenses minus Rs 2400 is tax free Rs 1800 Per month Nil Rs 2400 Per month FBT Nil Nil Nil

month and if he is under MindTree car lease scheme with a lease rental of Rs 15000/- per month and has a car of > 160

a grey area, we will be keeping all the reimbursements relating to car related expenses (Privately owned cars) on hold for

uisite and hence will continue to be reimbursed as per the current policy. No FBT will be recovered.

eyance allowance (Rs.800 per month) or for Medical reimbursement (Rs.15,000 per annum) or Leave Travel Allowa

here will be no FBT on the deposit amount paid by MindTree. The taxable perquisite on the CLA will be same as it was befo

interest rate charged by company and the current SBI PLR rate continues to be treated as perquisite even for this year.

xercise date and Grant price will be taxed on Exercise date. The date of submission of application for exercising the ESOP

Rs.1100 per month). Hence , we are removing the option of declaring Rs 2500/- per month . For all those who have declar

sites are given below

month and has a car of > 1600 CC , Rs 1600 will be considered as taxable amount and balance will be considered as tax f

vately owned cars) on hold for the time being and will communicate the rules shortly.

num) or Leave Travel Allowance. There will be no FBT on the medical reimbursement.

CLA will be same as it was before budget.

perquisite even for this year.

cation for exercising the ESOP can be treated as Exercise date if the ESOP plan also has the same definition.

hose who have declared food coupons of Rs 2500/- will be given an option to change it to Rs 1100/- per month.

be considered as tax free. If the car is privately owned and he is claiming Rs 5000/- as fuel and Rs 10000/- as maintenanc

per month.

0000/- as maintenance expenses, then Rs 1600/- will be tax free and the balance will be considered taxable.