SRI VENKATESWARA UNIVERSITY: : TIRUPATI

!NCOME TAX FROFORMA

FOR THE t:INANCIAL YEAR 2017-2018 & ASSESSMENT YEAR 2018-2019

1 Name of the Employee, Designatio!) ane: place of working

2

PA!'J Num'Jer

(PAN is mandatory, failure to quote PAN attracts penalty up to~.100001-) Attach Xerox copy of the PAN Card3

(a) Gross Salary for 2017-2018 (vide annexure-I)

(b) Other Allowances (SP/OT/Remuneration for extra work, Leave salary and Salary in lieu ofnotice, etc.)4Total (a + b)

5Residing on OWN I Rented House with address

6HRA Exemption u/s 10 (13A) and Rule 2 A -A HRA Received

B40% of Salar~'

CRent paid in excess of 10% of Salary(i-ii)

i) Actual Rent Paid ii) Less 10% of salary ( PAY + DA)Lea.;t of the above three (i.e. a,b,''::)7Rf-s;rjing in Cuarters: 7.5% of Salary - Rent Recovered(HR+ TAP+DHRA) (Salary means Pay

only)STOTAL ( 4 - 6 + 7 )

9Transport Allowance ~16001- p:M.(f3,2001- P.M.to blind I orthopedically handicapped

Exemption u/s 10 (14) (if includes in the Gross Salary)10

Profession T?x u/s 16 (iii)11

Interest Component on House Building Loan of self occupied residential property on accrualbasis i)

Upto 30,0001- for Loan taken prior to 1-4-99 u/s 24(1)ii)

Upto 2 Lakhs for loan taken on or after 01.04.99 and construction is completedwithin Five years from the date of borrowaliii)

Upto 30,0001- for loan taken on or after 1-4-1999 for reconstruction, repairs.renewals etc.,iv)

Deduction u/s SOEE: Jeduction in respect c: Interest on loan takenof residential

house property (Sec. SOEE, applicable from the assessment year 2017-201So"lwards) (See page No.4 point NO.7)12Add any other income reported by the employee

13Gross Total income (S - (9+10+11) + 12)

LESS DEDUCTIONS-14.1 Deuuc!ion$ u/s SOr, (Cumulative maximum deduction) is~. 1,50,000f- AMOUNT

A- .1,Gp,F I Ft'F ICPS B

L1C I PLiC : Actual Prerium paidOr1.

10% of sum assured ;Jr other~2.

15% of sum assured for persons who claimed deductionsI u/s SODDB, u/s SOU,whichever is less

C

National,SavingsCertific2te(VIII issue and IX issue)and accruedinterest

0ULiP of UTI (Minimum period of Holding 5 years) .

EMutual Funds I ICICI I lOBI Tax Saving Bonds

FSubccriptions to Deposit Schpme of National Housing Bank

GTuition Fee paid for 2 Children ,

HRepayment of Housing Loan (Principal amount)

IGIS

JTerm dep')sit for a period of 5 ye?rs or more in any Scheduled

BankKAmount'deposit under senior citizen'~cheme (Min. 5 years)

'"

L

Amount deoosited in 5 years Time deposited scheme inPostOffice M

Stamp ciuty and Reg. Fees paid towards purchase of a Residential~rlouse I Flat (f'v)in.5 years) .N

. S~bscrif::ion to any r,otified bonds of NA8ARD- 0 Rajeev GandhiEquity ,SavingScheme u/s SO CCG (amountinvested in listed equity shC"es I equity oriented fund.1.

50% of the amount investe j of ~. 25,0001- I whichever is lessI2.

AjI')wed for 3 consecutive Asse,,3,llent years I3.Gross total ir.::ome does not exceed ~. 12 lakhs

?U/S SOCCC Annuity Plan of L1C,any other Insurance Limited.

QAmount invested in approved debentures and equity shares in a

Public Companies engaged the infrastructure including powerSector, Units of mutual fund ;:;oceeds of which are utilized for thedeveloping, maintaining etc. of a new infrastructure fac;';·.)'.RDeposits in Sukanya Samruddhi Accountof Individual I any girl

child.~. TO IAL (A to R)

IIAdditional deductionU/s SOCCD (IB) of ~ 50,000/- towards the

contribution madeby the Individua'~ under the NPS (National

Pension Scheme)

: :L,::

15 Deductions under CHAPTER VI (A) --A Uls 800 Medical insurance Premium limited to ~25,0001- premiumshould be paid any mode other than cash. ~ 300001- is availablefor FatherlMother of the Family being a senior citizen (80 years ormore) (expenditure on ~reventive health check ~ 5,0001- allowedwithin the overall limits give above. The mode of payment can bemade by any mode includin;:J cash) and also applicable to themedical insurance Premium paid I Contributed to Central Govt.,Health Scheme (CGHS) and any payment made on account ofpreventive Health Checkup. Aggregate deduction is ~ 30,0001-B

Uls 80E Deduction in respect .of Total Interest paid on Loan takenfor Higher Education of the Assessee or his relative (i.e. Spouse,children and the student for whom the Tax payer is the legalguardian only) maximum 8 years or till the interest is paidC

Uls 80G 100% contributions made to PMICM relief, SwachhBharath Kosh and Clean Ganga Fund etc,0

Uls 80GG Deduction in respect of rent paid (person who is not inreceipt of HRA (Form 1OBA furnished)1.

~ 5,0001- P.M.2.

250/. of Total Income3.

Actual Rent paid in e::cess of 10% of salary4.

Least among the aboveE

LJ/s80U Deduction for permanent Physical Handicapped persons(employee) subject to cl maximum of V 5,0001- and ~1,25,000/-allowed for severe disability ,over 80% (F.nciose A certificate inlatest standard

format certifiedandissuedby theMedical

Authority) TOTAL ( A TO E )._-_._ .

--~-_•..__ ... _- ...- - _ .. _._~_ .

16 . TAXABLE INCOME (13-(14+15)) rounded to nearest multiple of~10/- ----- ---_._.-17 CALCULATION OF INCOME TAX ON TAXABLE INCOME _._-------a Those who are working and below 60 years

NET INCOME RANGE

INCOME TAX RATESTAXPAYABLEUp to ~ 2,50,000 for individual

NIL

~ 2,50,001 to ~5,00,000

5%

~ 5,00,001 to ~ 10,00,000

~ 12,500/- + 20%

Above ~ 10,00,000 - ~ 50,00,000

~ 1,12,5001- + 30%b

Those who are working and above 60 years

Up to ~ 3,00,000

NIL

~ 3,00,000 to ~ 5,00,000

5%

~ 5,00,001 to ~ 10,00,000

~ 10,?001- + 20%._---~ 10,00,000 - 50,00,000.~ 1,10,000/- + 30%

Total Net Income Tax Payeble INCOME TAX PAYABLE._---Rebate of 100% tax or~. 2,5001- available ifTaxable income does not exceed~. 3,50,0001-

uls 87A (Taxable income means Gross Total Income - Deductions uls 80C to 80UADD Education Cess 2% +Secondary and

3%

Higher education Cess 1% TOTAL INCOME TAX18Relief uls 89(i)

'"

19

NET INCOME TAX PAYABLE

20Amount of Tax deducted up to November 2017

21Balance-of Tax Payable

December, 2017January,

2018

February,

2018

TOTAL~

PLACE: TIRUPATIDATE: "

Signature of Employee

Contd ... 3

::3::

ANNEXURE -I

DETAilS OF SALARY DRAWN FROM MARCH PAID IN APRil, 2017 ONWARDS

MONTHPAYDP\DAHRAIRCCASPITOTALGPFIGISL1CIPTITDHRA

AGP

OANPSPLiC

MARCH 2017

APRIL 2017S.L.MAY 2017JUNE 2017JULY2017AUG. 2017SEP.2017OCT. 2017NOV. 2017DEC. 2017JAN. 2018FEB. 20113DA 1DA2ARREARSIf anyTOTAL

._.

HOUSE RENT DECLARATION

____________ , do hereby certify that I have occupied the premises

(Door No. / Location) --------------------------for the purpose of my residence for the financial year 2017-2018 and have paid

~ towards rent.

Station:Date: Signature of the employee

::4::

1. All the employees claiming exemptions uls 80C under Chapter-IV (A) should submitproof of such expenditure actually incurred besides the certificates issued by therespective authorities, otherwise proportionate Income Tax will be deductedautomatically from the salary.

2. All the employees claiming house loan interest exemption should submit a declarationto the effect that it is self occupied property, the date of commencement of constructionand completion in addition to the production of certificate obtained from the authoritywhich granted house loan, otherwise proportionate Income Tax will be deductedautomatically from the salary. The declaration shall be submitted in Form No. 12C.

3. All the employees paying House Rent above ~ 3,000/- p.m. should enclose House RentReceipts obtained from the House Owner.

4. Employees paying House Rent below ~ 3,000/- p.m. should enclose a House Rent SelfDeclaration.

5. All the employees claiming exemption U/s 80E should submit the certificate from theScheduled bank or Charitable Institution mentioning the name of the Assessee, Spouseor Children.

6. Employees claiming exemption U/s ~O U should submit a certificate in latest Standard. Format issued by the Medical Authority.

7. Deduction under section 80EE: Deduction in respect of interest on loan taken from aBank or Housing Finance Company for acquisition of Residential House Property.

Conditions:1. The loan has been taken during 1st April, 2016 to 31st March, 2017.2. The maximum amount of loan should not exceed ~ 35 lakhs

3. The value of re3idential house property does not exceed ~ 50 lakhs.4. The assessee does not own any residential house property on the date of

sanction of loan.5. Interest payable on the loan or ~ 50,000/- whichever is less is available as

deduction.

Note: Double deduction not possible: If deduction is claimed U/s 80EE no 'deduction will be allowed in respect of such income under any otherprovision of the act for the same or any other assessment year.

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