Matter of calculation

This query is : Resolved

Guest

Guest (Querist)

12 April 2012 gud afternoon to all experts,

sir i have a query abt. income tax calculation. my brother salary is 20 thousand. this is salary structure of my brother salary.

basic salary - 12822

hra (40 % salary)- 5128

transport allowance 800

madical remburisement 1250

tottal salary 20000

this is salary detail from april "11 to sep"11

but sir suddenly my brother salary increased 2000 ( 20000+2000=22000) from october"11

salary structure

basic salary - 14251

hra (40 % salary)- 5699

transport allowance 800

madical remburisement 1250

tottal salary 22000

than plz tell me that how i will calculate tax from oct"11 to march"12 and sir what will be my total tax liablity in f.y "11-12. plz reply this is very urgent for me. my email id is khulbe.rajeev50@gmail.com
mobile-8126102332

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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12 April 2012 Your brother's total taxable income is as follows.

Gross salary including all allowances - HRA exemption - Transport allowances - Medical remburisement maximum of Rs.15000 p.a(if medical bills submitted). So calculation for your case.

Gross salary = 20000*6+22000*6= 252000
HRA exemption = 5128*6+5699*6= 64962(assume total HRA would be eligible to deduct)
Transport allowance = 800*12 = 9600
Medical Allowance = 1250*12= 15000(assume medical bills submitted)

So total taxable salary income is = 252000-64962-9600-15000 = Rs.162438 from it you are eligible to deduct deductions under chapter VIA.
Mr.Rajeev i saw your question in two days back but some of rush in work i couldn't answered to your question. In that question you asked about the calculation of taxable salary with HRA exemption i think in that question you said actually paying monthly rent is Rs.6000. Now i am explaining you how you will get the HRA exemption based on the monthly rent payable through out the year Rs.6000 p.m even though change in the HRA receivable.

Calculation of HRA eligibility: in your past question you correctly calculated HRA exemption so i here not explained how to calculate HRA exemption. So your Hra exemption in your case:

Upto sep'11 is Rs.4718 per month and from Oct'11 is Rs.4575. So total HRA exemption per that year is 4718*6+4575*6= Rs.55,758.
Based on this your brother's taxable salary income is Rs.252000-55758-9600-15000= Rs.171642.

I am correct and you clarified your doubt. If not you write your doubt with clearly at which place you have doubt for clarification and you feel very free to write the doubt.
OM SAI SRI SAI JAI JAI SAI

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Guest

Guest (Querist)

13 April 2012 thanks for reply but sir in calculation of hra. clear my doubt detail given below

basic salary = 162438
hra rac.(40% salary)= 64975
rent paid =72000
rent paid - 10 % of salary 55756
40% of salary= 64975
least of these is 55756. now sir only tell me this which amt. will add in my basic salary means least amount 55756 or 9219(hra rec- least amt. 64975-55756=9219)
only tell me this. sir i m from uttarakhand.and sir my 80 c investment 11300. plz help

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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13 April 2012 HRA is already adding in your salary so while calculation no need to subtract HRA from salary.

after total gross salary, you have to put exemption amount in sec. 10(13A) for HRA Exemption

by doing this you can reduce your taxable income by HRA Exemption

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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13 April 2012 Mr.Rajeev don't go confusion HRA amount already included in your gross salary i.e Rs.252000 so you need not to again add to your gross salary from the HRA receipt you got the exemption of Rs.55758 under section 10(13A) for the purpose of HRA. I.e means Rs.9217(i.e excess amount received as HRA than exemption available) would be taxable and indirectly added to your basic. The computation is as above. But you want to direct computation in the form of taxable items so i am explaining here.

Your taxable Basic is = Rs.162438
Your Taxable HRA is = Rs. 9204
Total taxable Salry = Rs. 171642
So your Total Saving is Rs.11300
Total Taxable Income is =Rs. 160342
Tax on it is Nil
However Your total taxable salary is below the exemption limit i.e Rs.180000 for A.Y.2012-13(F.Y.2011-12)

I think now your doubt clarified otherwise write if any you have doubt.
OM SAI SRI SAI JAI JAI SAI