XYZ COMPANY PRIVATE LIMIETD

COMPUATATION OF TDS ON SALARIES FOR THE AY 2010-11

Name of the Employee: Ms. Sudha

Sex: Female
Age: 19
No. of Months completed (Not More than 12 months): 12
Rent Paid Per Month: 0

1. INCOME FROM SALARY: AMOUNT

Basic 185,000.00
Dearness Allowance 112,500.00
House Rent Allowance 85,000.00
Conveyance Allowance 10,700.00
Medical Allowance 30,000.00
Other Allowance - 423,200.00
Gross Salary Earned 423,200.00

Less: Allowance Exempt U/s 10:

HRA (18,500.00)
Conveyance Allowance 9,600.00
Medical Allowances 15,000.00 24,600.00
398,600.00
Less: Tax on Employment 2,400.00
Income From Salary 396,200.00

2. INCOME FROM HOUSE PROPERTY:

Computed net loss or income -
Income From House Property -

Gross Total Income 396,200.00

DEDUCTION UNDER CHAPTER VI:

Deduction U/s 80C:

LIC
PPF
PF
GIS 100,001.00
Subscription of NSC
Accrued Interest on NSC
Principle amount of Repayment of Housing Loan
Defferred Annuity
Subscription of Certain Equity Shares or Debentures
Fixed Deposit not less than 5 years with a scheduled bank
NABARD Bonds
Post 5 year time Deposit
Senior Citizen Savings Scheme
Other Approved Insurance

Deduction U/s 80CCC:

Premium paid towards Pesion Plan (Govt)

Deduction U/s 80CCD:

Premium paid towards any approved pensioner scheme
Total 100,001.00
Qualifying amount of Deduction U/s 80C to 80CCD restricted upto Rs. 100,000/- 100,000.00

Deduction U/s 80D:

Mediclaim Insurance premium paid
ABC Insurance Ltd 20,000.00
XYZ Insurance Ltd - 15,000.00

Deduction U/s 80G:

Donation paid to Approved charities or socities 100% exempt -
Donation paid to Approved charities or socities 50% exempt -
Other Donations Eligible for 10% of Adjusted Gross Total Income - -

TAXABLE TOTAL INCOME 281,200.00

Tax Calculation for Men and Women who is resident in india and below 65 years of age.:
Tax Liablity on total income 9,120.00
Add: Education Cess on the above @ 3% 274.00
Total 9,394.00

Tax Calculation for Senior Citizens who's age 65 years or above and who is resident in India:
Tax Liablity on total income 4,120.00
Add: Education Cess on the above @ 3% 124.00
Total 4,244.00

Final Tax Liablity 9,394.00