IT Return FY 2003-2004 _Specimen_ by zhangyun

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									Name of Assessee : Mr. Munababa
Status: Resident & Oridinary Resident
Assessment Year: 2000-2001
Accounting Year: 31-03-2000


COMPUTATION OF INCOME

I) INCOME FROM SALARY:

 a. Salary from colleage:                            45,000
   Less: a. STD Deduction:U/s.16(I)        15,000
                                         120000
         b. Professional Tax                  800
                                           15,800    15,800
                                                     29,200   29,200
II) INCOME FROM BUSINESS / PROFESSION:

           Profits for the year                       6,300
           Add: Disallowable expenses:
           House hold expensse             22,400
           Purchase of motor car          100,000
           Donation                        17,000
           interest on bank loan            5,500
           Income tax                       8,500
           Mediclaim Ins. Premium           6,500
           Car expenses (25% personal)      1,000
                                          160,900   160,900
                                                    167,200
           Less: Disallowable income:
           Gift from Neightors Uncle       15,000
           Loan from bank for car          50,000
           price from rotary club           4,500
                                           69,500    69,500
                                                     97,700   97,700
           Less: Allowable expenses:
           Depreciation allowabe 20%       20,000
           Gift to an employee              1,000
                                           21,000             21,000
                                                              76,700   76,700
Less: Under Chapter VI - A

           U/s. 80DD Handicaped Relative.               -                        -

           U/s. 80G Eligible amount.(donation)
           a. National Illness Assit. Fund            1,000
           b. Family planing programme               15,000
           c. PM Drought Relief fund                    -
           d. PM Natinal relief fund                    -
           e. Help for Poor students                    -
                                                     16,000
           Qualifying amount
           Without limit a + c + d =                 16,000
           Withlimit of 10% of Gross
           total income of Rs.       76,700           7,670
                                                     23,670
           Actual Deduction
           100% of Family Planning prge.             15,000
           100% of PM National Relief Fund              -
                                                     15,000
           50% of Balance Qualifying amt.             4,335
                                                     19,335
           Eligible amt. (whichever is less)         16,000                          16,000

           Net Taxable Income                                                        60,700

Slab No. II (Rs. 60,000/- to 1,50,000/-)

Taxable Income Rs.          60,700
                           from             to      Amt.      Percentage   Tax
First                          -           50,000    50,000       0%          -
next                        50,000         60,000    10,000      10%        1,000
next                        60,000         60,700       700      20%          140
                                                                            1,140
                                    Add: Surcharge @             10%          114
                                       Total       60,700                   1,254
Average tax rate for the amount of Rs. 60,700 is =               2%
          Income Tax Calculation Slab wise for the year 2000-2001

Put your net taxable income only in the yellow filled cell. You will get the net Tax
payable for the year.

Slab No. I (Rs. 50,000/- to 60,000/-)

Taxable Income Rs.          65,000.00
                             from              to        Amt.     Percentage       Tax
First                             -         50,000.00   50,000.00     0%              -
next                        50,000.00       65,000.00   15,000.00    10%         1,500.00
                                                                                 1,500.00
                                      Add: Surcharge @                2%            30.00
                                         Total       65,000.00                   1,530.00
Average tax rate for the amount of Rs. 65,000.00 is =                2.35%


Slab No. II (Rs. 60,000/- to 1,50,000/-)

Taxable Income Rs.        125,000.00
                            from               to        Amt.     Percentage       Tax
First                            -          50,000.00   50,000.00     0%              -
next                       50,000.00        60,000.00   10,000.00    10%         1,000.00
next                       60,000.00       125,000.00   65,000.00    20%        13,000.00
                                                                                14,000.00
                                       Add: Surcharge @               10%        1,400.00
                                          Total      125,000.00                 15,400.00
Average tax rate for the amount of Rs. 125,000.00 is =              12.32%


Slab No. III (Rs. 1,50,000/- and above)

Taxable Income Rs.        160,000.00
                            from               to        Amt.     Percentage       Tax
First                            -          50,000.00   50,000.00     0%              -
next                       50,000.00        60,000.00   10,000.00    10%         1,000.00
next                       60,000.00       150,000.00   90,000.00    20%        18,000.00
next                      150,000.00       160,000.00   10,000.00    30%         3,000.00
                                                                                22,000.00
                                       Add: Surcharge @               2%           440.00
                                          Total      160,000.00                 22,440.00
Average tax rate for the amount of Rs. 160,000.00 is =              14.03%
                                NAME OF ASSESSEE: MR. RENNY MATHEWS
                                            ADDRESS: INFOTECH ENTERPRISES LTD
                                                     SDF-1, UNIT 32, SEEPZ
                                                     ANDHERI - EAST
                                                     MUMBAI - 400 096.
                                       PAN / GIR NO.:     AEGPM9134F
                                              STATUS: INDIVIDUAL
                          FINANCIAL YEAR ENDED: 01-APRIL-2000 TO 31-MARCH-2001.
                                ASSESSMENT YEAR: 2001 - 2002
                                            STATEMENT OF INCOME
                                                                Rupees      Rupees      Rupees
I. INCOME FROM SALARY:
 GROSS SALARY (as per Form 16) [See Rule 31 (1)(a)]                           226,007
 Less: Allowance exempted U/S 10 (10), (14)                                    58,040
                                            Balance                           167,967
 Less: Deductions:
 a. STD deduction U/S 16 (i) / (ia)                                20,000
 b. Professional Tax paid 16 (iii)                                  2,475
                                                                   22,475      22,475
                                  Gross Taxable Income                        145,492     145,492

                                                                                          145,492
 Deduction Under Chapter IV-A & VI-A     Gross Amt. Qualifying Amt. Deductable Amt.
 a. Mediclaim U/S 80 (D)                        5216          5,216          5,216
 b. Donation U/S 80 (G)                           500           500            500
                                                                             5,716          5,716
                                 Net Taxable Income                                       139,776
      Income Tax Slab        Slab Income
        1 to           50000       50000          0%            -
    50001 to           60000       10000         10%          1,000
    60001 to          139776       79776         20%         15,955
           to                     139776
                                 Tax on Total Income         16,955                        16,955

 Less: Rebate Chapter VIII U/S 88
 a. Provident Fund                                   13196         13,196
 b. Insurance Premium (LIC)                          36460         36,460
 c. Interest on NSC accrued - reinvested              3549          3,549
                General limit upto Rs. 60000/-       53205         53,205
 d. Infra Structure Bond                             20000         20,000
              Additional limit upto Rs. 20000/-      73205         73,205
        Maximum limit u/s 88 Rebate (80000) 20%                    73,205      14,641      14,641
                                                Tax amount                                  2,314
                                         Add: Surcharge @ 12%                                 278
                                                                                            2,592
 Less: Tax paid as per TDS certificate                                                      3,400
                                 Balance Tax Refundable                                       808
                                                                                              808
                                  NAME OF ASSESSEE: MR. RENNY MATHEWS
                                             ADDRESS: INFOTECH ENTERPRISES LTD
                                                      SDF-1, UNIT 32, SEEPZ
                                                      ANDHERI - EAST
                                                      MUMBAI - 400 096.
                                         PAN / GIR NO.:    AEGPM9134F
                                                STATUS: INDIVIDUAL
                            FINANCIAL YEAR ENDED: 01-APRIL-2000 TO 31-MARCH-2001.
                                  ASSESSMENT YEAR: 2001 - 2002
                                              STATEMENT OF INCOME
                                                              Rupees             Rupees    Rupees

Details of attached documents:

1. Form No. 16 dt. 30-04-2001 for TDS for Rs.                                                  3,400

U/S 80 (D)

2. Mediclaim - National Insurance Co Receipt no. 13112 Dt. 15-02-2001 for Rs.                  5,216

U/S 88

3.   Life Insurance Premium - LIC Receipt No. 2660979 Dt. 26-05-2000 for Rs.                     990
4.   Life Insurance Premium - LIC Receipt No. 2696065 Dt. 25-08-2000 for Rs.                     990
5.   Life Insurance Premium - LIC Receipt No. 2727427 Dt. 25-11-2000 for Rs.                     990
6.   Life Insurance Premium - LIC Receipt No. 0802946 Dt. 22-02-2001 for Rs.                     990
7.   Life Insurance Premium - LIC Receipt No. M/4385499 Dt. 08-03-2001 for Rs.                32,500
                                                                                              36,460

8. Tax saving bonds - ICICI Safety Bonds Aug-2000 Cert. No. 73296 Dt. 07-11-2000 for Rs.       5,000
9. Tax saving bonds - ICICI Safety Bonds Aug-2000 Cert. No. 73297 Dt. 07-11-2000 for Rs.       5,000
10.Tax saving bonds - IDBI Flexibonds 10 Cert. No. 010664738 Dt. 30-03-2001 for Rs.           10,000
                                                                                              20,000
                                       Name of Assessee     :
                              Permanent Account Number      :
                                                   Status   : Individual
                                    Financial Year ended    : 01-April-2003 TO 31-March-2004.
                                        Assessment Year     : 2004 - 2005

                                          STATEMENT OF INCOME

                                                                  Rupees          Rupees        Rupees

Income from Salaries:
  GROSS SALARY (as per Form 16) [See Rule 31 (1)(a)]                               284,510.00
  Less: Allowance exempted U/S 10 (13 A)                           32,580.00
        Allowance exempted U/S 10 (14) (II)                         9,600.00        42,180.00
                                               Balance                             242,330.00
  Less: Deductions:
  STD deduction U/S 16 (i) / (ia)                                  30,000.00
  Professional Tax paid 16 (iii)                                    2,400.00
                                                                   32,400.00        32,400.00
                                               Gross Income                        209,930.00     209,930
Income from House Property:
  Housing Loan Interest u/s. 24(2)                                 25,489.00
                                               Gross Income        25,489.00                       25,489
Income from Business or Profession:
  Profit as per P & L Account                                                        4,578.00
  Less: Interest Income considered seperatly                                              -
                                               Gross Income                          4,578.00       4,578
Income from Capital Gains:

Income from Other Sources:
  Bank Interest                                                         22.00
  NSC Interest                                                       2,458.00
  PPF Interest                                                       5,487.00
  Any Other Interest (….)                                            1,500.00
                                                       total         9,467.00
  Less: PPF Interest Exempt u/s. 10(11)                              5,487.00
                                               Gross Income          3,980.00                       3,980

                                                                  Gross Taxable Income            243,977
                                          Aggregate of Income
 Deduction Under Chapter IV-A & VI-A       Gross Amt. Qualifying Amt. Deductible Amt.
 U/S.80 CCC (I) Pension Funds               10,000.00        10,000.00       10,000.00
 U/S 80 (D) Mediclaim                         2,548.00        2,548.00        2,548.00
 U/S 80 (G) Donation                            500.00          500.00           500.00
 U/S 80 (L) Interest                          3,980.00        3,980.00        3,980.00
                                                                             17,028.00             17,028
                                                                     Net Taxable Income           226,949
                                     Computation of Tax Liability
       Income Tax Slab        Slab Income    Slab Rate
         1     to      50,000      50,000       0%                 -
   50,001      to      60,000      10,000      10%               1,000
   60,001      to     150,000      90,000      20%              18,000
  150,001      to     226,949      76,949      30%              23,085
               to                226,949
                                  Tax on Total Income           42,085                             42,085
 Less:
 Rebate Chapter VIII U/S 88 (for General Investment)
                                                Gross Amt.     Qualifying Amt.
 Provident Fund                                      23,546             23,546
 Public Provident Fund (PPF)                          3,000              3,000
 Life Insurance Premium                               3,482              3,482
 Unit Linked Insurance Premium                        5,000              5,000
 National Savings Certificates - New                 22,000             22,000
 Interest on NSC accrued - reinvested                 2,458              2,458
 School Fees Paid                                    12,000             12,000
 Repayment of Housing Loan                            4,520              4,520
                 General limit upto Rs. 70000/-      76,006             76,006
 Infra Structure Bond                                30,000             30,000
              Additional limit upto Rs. 30000/-     106,006           106,006
        Maximum limit u/s 88 Rebate (100000)        15%               100,000     15,000
 Rebate u/s 88 B (for Senior citizens of 65 yrs & above)                          15,000
 Rebate u/s 88 C (for Woman assessee Resident in India)                            5,000
                                                                                  35,000    35,000
                                                 Tax amount                                  7,085
                                           Add: Surcharge @         0%                         -
 Less: Relief u/s. 89 (1) as per TDS certificate                                     -       7,085
       Tax paid as per TDS certificate                                            14,862    14,862
                            Balance Tax Payable / Refundable                                (7,777)
                                                                                 (Refund)   (7,777)
Dadis IA

								
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