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Vishal Thakkar's Income Statement

1. Vishal Deepak Thakkar's total income for A.Y. 2023-2024 was Rs. 503,038. 2. His main sources of income were salary of Rs. 788,716, interest income of Rs. 654, and dividends of Rs. 62. 3. He paid total taxes of Rs. 13,632 after claiming various deductions like Rs. 80,194 under Section 80C for life insurance premiums and Rs. 5,546 under Section 80D for medical insurance premiums. He is eligible for a tax refund of Rs. 13,470.

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222 views4 pages

Vishal Thakkar's Income Statement

1. Vishal Deepak Thakkar's total income for A.Y. 2023-2024 was Rs. 503,038. 2. His main sources of income were salary of Rs. 788,716, interest income of Rs. 654, and dividends of Rs. 62. 3. He paid total taxes of Rs. 13,632 after claiming various deductions like Rs. 80,194 under Section 80C for life insurance premiums and Rs. 5,546 under Section 80D for medical insurance premiums. He is eligible for a tax refund of Rs. 13,470.

Uploaded by

Hemant Surgical
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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A.Y.

2023-2024
Name : Vishal Deepak Thakkar Previous Year : 2022-2023
Father's Name : Deepak Karamshi Thakkar PAN : AGSPT 3563 H
Address : 69/B
Shri Kutchi Lohana Niwas Status : Individual
Sc Marg Date of Birth : 09-Jul-1988
Mazagaon, MUMBAI - 400 010
Resident
Statement of Income
Rs. Rs. Rs.
n Income from Salaries
Salaries, allowances and perquisites 1 841,116
Standard deduction u/s 16(ia) 50,000
Less: Tax on employment u/s 16(iii) 2 2,400 52,400
Income chargeable under the head "Salaries" 788,716

n Income from House Property


Less:Interest on borrowed capital u/s 24(b) 3 400,000
Income chargeable under the head "House Property" -200,000
n Income from other sources
Dividends 4 62
Interest income 5 654
Income chargeable under the head "other sources" 716

n Gross Total Income 589,432


Deductions under Chapter VI-A
80D: Medical Insurance Premia 6 5,546
80TTA: Interest on Saving a/c 654
Investment u/s 80C, CCC, CCD
Life insurance premium 7 80,194
Deduction subject to ceiling u/s 80CCE 80,194 86,394
n Total Income 503,038
Total income rounded off u/s 288A 503,040
n Tax on total income 8 13,108
Add: Cess 524
Tax with cess 13,632
TDS / TCS 9 27,097
n Refund Due 13,470
Schedule 1
Salary Income Received Exempt Taxable
Basic Salary 336,000 336,000
Commission 361,116 361,116
Total 697,116 697,116
Allowances
House Rent Allowance 84,000 84,000
Conveyance allowance:
62,400 62,400
exempt u/s 10(14)(i)
Fixed medical allowance 60,000 60,000
Total 206,400 62,400 144,000
HRA exemption Calculation
Rent paid City Mumbai
50% of the salary 168,000
Taxable portion of
Salary income 697,116
Allowances 144,000
Total Taxable amount 841,116

Schedule 2
Tax on employment u/s 16(iii)
Employer Amount
Employer-1 2,400
Total 2,400

Schedule 3
Interest on Borrowed Capital
Particulars Amount
Interest on Hme loan 400,000
Total 400,000

Schedule 4
Dividends taxable at Normal
rate
Dividends from Company -
Amount Quarter
other than u/s 2(22)(e)
16-Jun to
Bank Of Baroda 57
15-Sep
16-Mar to
Adani Gas Limited 5
31-Mar
Total 62
Total Dividends 62

Schedule 5
Interest income (other than
NSC/KVP interest)
Name of the Bank Interest
Interest on Savings a/c
(80TTA)
State Bank of India 654

Schedule 6
80D-Medical Insurance
Premium/Contribution,
Medical expenses, etc.
Insurance Medical Health
In respect of Parents
Premium expenses check-up
Others 5,546
Total 5,546

Total Deductible amount 5,546

Schedule 7
Life insurance premium
Policy no.
Name of Insurer Amount (for
reference)
Birla Sun Life Insurance 7,922 006535793
Life Insurance Premium 18,552
Other 53,720
Total Premium 80,194

Schedule 8
Tax on total income 13,108
Schedule 9
TDS as per Form 16A
TDS Gross
Deductor, TAN TDS
claimed receipt
in current
deducted offered
year
Bank Of Baroda, TAN-
0
MUMB22923F
Total
TDS from Salaries
TDS TDS Gross
Employer & TAN
deducted claimed Salary

Hemant Surgical Industries


27,097 27,097
Ltd, TAN- MUMH06688D

Bank A/c for Refund: IFSC:

Date : 27-Jun-2023
Place : MUMBAI [ VISHAL DEEPAK THAKKAR ]

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