REVISED IT Calculation 2021-22 .xlsx

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1	KENDRIYA VIDYALAYA _______________________
2	INCOME TAX CALCULATION FOR THE FINANCIAL YEAR 2021-22 (ASSESSMENT YEAR 2022-23)
3	Name:				Designation:	PGT	(Bio)	Father's Name				Employee Status	Serving	OPTION	OLD TAX REGIME
4	PAN :			PF Status:	Select	HRA Status & City Code		HRA (X)	House Status:		Select	Address
5	Bank Name:					A/c. No.:			IFSC Code :			PH Category:	Select	Pay Level Range for Transport Allowances		X(1-8)	CLICK HERE for Salary Entry			BASIC PAY AND LEAVE ACCOUNT
6	SL NO		INCOME FROM SALARY											DEDUCTION / REBATE						Insert Full Basic Pay
7	Months	DA	Band Pay	Dearness Allowances	Transport Allowances	DA on TA	HRA	Cash Handling	NPS (Mgt. Share )	CEA	DA Arrears	Arrears	Gross Total	Prof. Tax	NPS (Emp Subs)	NPS (Mgt. Share )	CGHS	GPF/CPF (Own Cont)	TDS	Month	Days	Full Basic Pay	HPL	EOL	HPL	EOL	Total Deduction	NET Basic
8	Mar-21	17%	62,200	10,574	3,600	612	14,928		0				91,914	200	0	0	0	15,000	3,500	Mar-21	31	62200	0	0	0	0	0	62200
9	Apr-21	17%	62,200	10,574	3,600	612	14,928		0				91,914	200	0	0	0	15,000	3,500	Apr-21	30	62200	0	0	0	0	0	62200
10	May-21	17%	62,200	10,574	3,600	612	14,928		0	27,000			118,914	200	0	0	0	15,000	3,500	May-21	31	62200	0	0	0	0	0	62200
11	Jun-21	17%	62,200	10,574	3,600	612	14,928		0				91,914	200	0	0	0	15,000	3,500	Jun-21	30	62200	0	0	0	0	0	62200
12	Jul-21	31%	62,200	19,282	3,600	1,116	16,794		0				102,992	200	0	0	0	15,000	3,500	Jul-21	31	62200	0	0	0	0	0	62200
13	Aug-21	31%	62,200	19,282	3,600	1,116	16,794		0				102,992	200	0	0	0	15,000	6,000	Aug-21	31	62200	0	0	0	0	0	62200
14	Sep-21	31%	62,200	19,282	3,600	1,116	16,794		0				102,992	200	0	0	0	15,000	6,000	Sep-21	30	62200	0	0	0	0	0	62200
15	Oct-21	31%	62,200	19,282	3,600	1,116	16,794		0				102,992	200	0	0	0	15,000	6,000	Oct-21	31	62200	0	0	0	0	0	62200
16	Nov-21	31%	62,200	19,282	3,600	1,116	16,794		0				102,992	200	0	0	0	15,000	11,000	Nov-21	30	62200	0	0	0	0	0	62200
17	Dec-21	31%	62,200	19,282	3,600	1,116	16,794		0				102,992	200	0	0	0	15,000		Dec-21	31	62200	0	0	0	0	0	62200
18	Jan-22	31%	64,100	19,871	3,600	1,116	17,307		0				105,994	200	0	0	0	15,000		Jan-22	31	64100	0	0	0	0	0	64100
19	Feb-22	31%	64,100	19,871	3,600	1,116	17,307		0				105,994	200	0	0	0	15,000		Feb-22	28	64100	0	0	0	0	0	64100
20													0
21	TOTAL		750,200	197,730	43,200	11,376	195,090	0	0	27,000	0	0	1,224,596	2,400	0	0	0	180,000	46,500
22	Total Income from Salary				1,224,596											TDS deducted by Bank/Deptt			0
23	Add:	Bank Interest			9,900		Bank Interest			Savings U/s 80C						Total TDS			46,500
24		Other Income			0		Savings Bank interest		9,900	GPF/CPF			180,000
25		Income from house property			0		Interest on FD etc.		0	NPS [Employees Contribution (80CCD-1)]			0
26	Gross Income				1,234,496		Total		9,900	Premium of LIC			0
27	STANDARD DEDUCTION				50,000					Public Provident Fund (PPF)			0
28	Less:	House Rent (Least of below three)					Other Income			Subscription to PLI			0	Tax Calculation
29	HRA Received			195,090	0		Pension		0	National Savings Certificate (NSC)			0	Net Taxable Income					821,400
30	50% / 40% of Salary			473965			Interest on NSC		0	Tuition Fee			0	Upto Rs. 2,50,000 - Nil (Sr. Citizen: 3,00,000/-)					76,780
31	Rent paid in excess of 10% of salary		0	0			Income from Exam duty		0	HB Loan (Principal)			0	Rs. 2,50,001 - Rs. 5,00,000 = 5% (300000 - 500000)
32	Professional Tax				2,400		Medical claim reimbursement		0	Sukanya Samriddhi Account			0	Rs.5,00,001 - Rs.10,00,000 = 20% (500000-1000000)
33	Medical Insurance Premium (80D) /CGHS				10,225								0	Rs. 10,00,001 and above = 30%
34	Interest on Education Loan (80E)				0		Total		0				0	Rebate U/S 87A					0
35	Interest on House Building Loan				189,373		Income from House Property						0	Balance Tax					76,780
36	Children Education Allowances				1,200		Rent Received		0				0	Health & Education Cess				4%	3,071
37	80TTA (Rebate on S/B Interest)				9,900		Less: 30% (Maintenance)		0					Total Tax Payable					79,851
38	Rebate for Disability (80U / 80DD)				0		Income		0	TOTAL:			180,000	Rebate U/S 89(1)[Income for previous years] (attach copy)					0
39	NPS (Employer's contribution) (80CCD-2)				0					Qualifying Savings			150,000	Net Tax Payable					79,851
40	PM CARES FUND				0	NPS (80CCCD-1B)			0	NPS (Employees Investment)(80CCD-1B)			0	Less: Tax Deduction at Source (TDS)					46,500
41										Total Rebate			150,000	Net Tax Payable / Refundable					33,351
42	Total Rebate				263,098					Prepared by Samiran Bar, ASO, KV Ballygunge
43	NET PAY				971,398			N.B.: Only		coloured cells are to be filled.
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46	KENDRIYA VIDYALAYA _______________________
47	INCOME TAX CALCULATION FOR THE FINANCIAL YEAR 2021-22 (ASSESSMENT YEAR 2022-23)
48	Name:				Designation:	PGT	(Bio)	Father's Name				Employee Status	Serving	OPTION	NEW TAX REGIME
49	PAN :			PF Status:	Select	HRA Status & City Code		HRA (X)	House Status:		Select	Address
50	Bank Name:					A/c. No.:			IFSC Code :			PH Category:	Select	Pay Level Range for Transport Allowances		X(1-8)	CLICK HERE for Salary Entry
51	SL NO		INCOME FROM SALARY											DEDUCTION / REBATE
52	Months	DA	Band Pay	Dearness Allowances	Transport Allowances	DA on TA	HRA	Dress Allowances	NPS (Mgt. Share )	CEA	DA Arrears	Arrears	Gross Total	Prof. Tax	NPS (Emp Subs)	NPS (Mgt. Share )	CGHS	GPF/CPF (Own Cont)	TDS
53	Mar-21	17%	62200	10574	3600	612	14928		0				91914	200	0	0	0	15000	3500
54	Apr-21	17%	62200	10574	3600	612	14928		0				91914	200	0	0	0	15000	3500
55	May-21	17%	62200	10574	3600	612	14928		0	27000			118914	200	0	0	0	15000	3500
56	Jun-21	17%	62200	10574	3600	612	14928		0				91914	200	0	0	0	15000	3500
57	Jul-21	31%	62200	19282	3600	1116	16794		0				102992	200	0	0	0	15000	3500
58	Aug-21	31%	62200	19282	3600	1116	16794		0				102992	200	0	0	0	15000	6000
59	Sep-21	31%	62200	19282	3600	1116	16794		0				102992	200	0	0	0	15000	6000
60	Oct-21	31%	62200	19282	3600	1116	16794		0				102992	200	0	0	0	15000	6000
61	Nov-21	31%	62200	19282	3600	1116	16794		0				102992	200	0	0	0	15000	11000
62	Dec-21	31%	62200	19282	3600	1116	16794		0				102992	200	0	0	0	15000
63	Jan-22	31%	64100	19871	3600	1116	17307		0				105994	200	0	0	0	15000
64	Feb-22	31%	64100	19871	3600	1116	17307		0				105994	200	0	0	0	15000
65													0
66	TOTAL		750200	197730	43200	11376	195090	0	0	27000	0	0	1224596	2400	0	0	0	180000	46500
67	Total Income from Salary				1,224,596											TDS deducted by Bank/Deptt			0
68	Add:	Bank Interest			9,900		Bank Interest			Savings U/s 80C						Total TDS			46,500
69		Other Income			0		Savings Bank interest		9,900	GPF/CPF			0
70		Income from House Property			0		Interest on FD etc.		0	NPS [Employees Contribution (80CCD-1)]			0	Tax Calculation
71	Gross Income				1,234,496		Total		9,900	Premium of LIC			0	Net Taxable Income					1,234,500
72	STANDARD DEDUCTION				0					Public Provident Fund (PPF)			0	Upto Rs. 2,50,000 - Nil (Sr. Citizen: 3,00,000/-)					121,900
73	Less:	House Rent (Least of below three)					Other Income			Subscription to PLI			0	Rs. 2,50,001 - Rs. 5,00,000 = 5% (3,00,000 - 500,000)
74	HRA Received			195,090	0		Pension		0	National Savings Certificate (NSC)			0	Rs.5,00,001 - Rs.7,50,000 = 10% (5,00,000-750,000)
75	50% / 40% of Salary						Interest on NSC		0	Tuition Fee			0	Rs.7,50,001 - Rs.10,00,000 = 15% (7,50,000-1000000)
76	Rent paid in excess of 10% of salary		0	0			Income from Exam duty		0	HB Loan (Principal)			0	Rs.10,00,001 - Rs.1250000 = 20% (1000000-1250000)
77	Professional Tax				0		Medical claim reimbursement		0	Sukanya Samriddhi Account			0	Rs.12,500001 - Rs1500000 = 25% (1250000-1500000)
78	Medical Insurance Premium (80D) /CGHS				0								0	Rs. 15,00,001 and above = 30%
79	Interest on Education Loan (80E)				0		Total		0				0	Rebate U/S 87A					0
80	Interest on House Building Loan				0		Income from House Property						0	Balance Tax					121,900
81	Children Education Allowances				0		Rent Received		0				0	Health & Education Cess				4%	4,876
82	80TTA (Rebate on S/B Interest)				0		Less: 30% (Maintenance)		0				0	Total Tax Payable					126,776
83	Rebate for Disability (80U / 80DD)				0		Income		0	TOTAL:			0	Rebate U/S 89(1)[Income for previous years] (attach copy)					0
84	NPS (Employer's contribution) (80CCD-2)				0					Qualifying Savings			0	Net Tax Payable					126,776
85	PM CARES FUND				0	Investment in NPS			0	NPS (Employees Investment)(80CCD-1B)			0	Less: Tax Deduction at Source (TDS)					46,500
86					0					Total Rebate			0	Net Tax Payable / Refundable					80,276
87	Total Rebate				0					Prepared by Samiran Bar, ASO, KV Ballygunge
88	NET PAY				1,234,496			N.B.: Only		coloured cells are to be filled.
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