My Salary & Benefit
Emp. Code : 1001 Emp. Name : Joseph Payable Days : 31
Department : CMD Bank : HDFC Bank PAN : ABCD123456AF
Earning Amount Deduction Amount
Basic 75,000 Professional Tax 200
HRA 37,500 Provident Fund 9,000
Conveyance 800 Income Tax 8,000
Medical 1200    
Total 1,14,550 Total 17,700
Employee Code: 1001
Designation: Manager
Department: IT
  Name: Joseph
Location: Mumbai
PAN : ABCD1235Q
Gender: Male
WISECOR SERVICES PRIVATE LIMITED
Income Tax Projection for Financial Year ending 2013-2014
Emp Code   1001   Employee Name Joseph
Location   Thane   Pan No ABCD123456AF
Gender   M      
Earnings Actuals Projections NonTax Total
Basic Salary 25,000.00 2,75,000.00 0 3,00,000.00
HRA 12,500.00 1,37,500.00 0 1,50,000.00
Conveyance Allow. 800 8,800.00 0 9,600.00
Leave Travel.Allow. 1,958.00 21,542.00 0 23,500.00
Medical Allowance 1,250.00 13,750.00 0 15,000.00
Gross Earnings 41,508.00 4,56,592.00 0 4,98,100.00
Deduction u/s 80 C (Limit 1 Lac)
  Actuals Projection Total  
P.F. - Salary 3,000.00 33,000.00 36,000.00  
P.F. from Previous Employer 0 0 0  
Life Insurance Premium 0 0 0  
Unit Linked Insurance Plan (ULIP) 0 0 0  
Specified Investment Bonds 0 0 0  
Public Provident Fund (PPF) 0 0 0  
National Saving Certificates 0 0 0  
Repayment of Housing Loans 0 0 0  
Accrued Interest on NSC 0 0 0  
Subscrip. to Eligible Mutual Funds 0 0 0  
Subscrip. to National Housing Bank 0 0 0  
Deffered Pension Plan 0 0 0  
Tution Fees paid to school/college for full time education 0 0 0  
Retirement Benefit Plan 0 0 0  
Term Deposit with scheduled bank for Fixed Deposit 0 0 0  
Pension Scheme u/s 80 CCC 0 0 0  
Total Investments 3,000.00 33,000.00 36,000.00  
Allowable Deduction u/s 80 C (Total investment or Rs. 1,00,000/- which ever is lower) 36,000.00
Less:Professional Tax from Previous Employer 0
Add: Taxable Income Prev Employer 0
Add: Income on House Property 0
Less: Loss on House Property 0
Gross Income 4,95,600.00
Less: Chapter VI A 0
Less: Deduction u/s 80 C 36,000.00
Less: Tax on employment 2,500.00
Taxable Income 4,59,600.00
Tax Calculation  
Range Amount Rate(%) Tax  
0-200000 2,00,000.00 0 0  
200001-500000 2,59,600.00 10 25,960.00  
500001-1000000 0 20 0  
>1000001 0 30 0  
Total Tax on Income 25,960.00
Add: Surcharg 0
Add: Education Cess 779
Gross Tax Payable 26,739.00
Less: Tax Recovered 2,228.00
Less: Tax Ded by Previous Employer 0
Balance Tax Recoverable 24,511.00
Excess Tax 0
Months remained in the year 11
Average Recovery per Month 2,228.00
Employee Code: 1001
Designation: Manager
Department: IT
  Name: Joseph
Location: Mumbai
PAN : ABCD1235Q
Effective date - 01/07/2013
Head Amount
Basic 3,00,000
DA 15,000
HRA 1,50,000
Conveyance 15,000
Medical 56,000
LTA 80,000
Special Allowances 6,25,600
Total