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IDFCFIRST 229392 TaxForecast

The document provides a tax forecast for Reshma Ravi Nair for January 2025, detailing her earnings, deductions, and tax calculations under the old tax regime. It includes monthly breakdowns of basic salary, allowances, and total earnings, along with deductions for provident fund, professional tax, and income tax. The total tax payable is calculated to be 37,298, with a monthly tax of 18,649 due over the next two months.

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30 views1 page

IDFCFIRST 229392 TaxForecast

The document provides a tax forecast for Reshma Ravi Nair for January 2025, detailing her earnings, deductions, and tax calculations under the old tax regime. It includes monthly breakdowns of basic salary, allowances, and total earnings, along with deductions for provident fund, professional tax, and income tax. The total tax payable is calculated to be 37,298, with a monthly tax of 18,649 due over the next two months.

Uploaded by

karanmundhra.work
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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IDFC FIRST BANK LIMITED TAX FORECAST FOR THE MONTH OF JANUARY 2025

TAX REGIME OPTED:OLD DOB:10/07/1990


EMPLOYEE:(229392) RESHMA RAVI NAIR BRANCH:THANE—QUANTUM—HIRA GENDER:F PAN:AIGPN0944E DOJ:17/04/2023
—————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————
———————————————————————————————————————————————Actual———————————————————————————————————————————————|—————Projected——————
PARTICULARS APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH TOTAL
—————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————
BASIC 13972 14375 14375 14375 14375 14375 14375 14375 14375 14375 14375 14375 172097
HRA 6986 7188 7188 7188 7188 7188 7188 7188 7188 7188 7188 7188 86054
POSITION ALLOWA 19215 19762 19762 19762 19762 19762 19762 19762 19762 19762 19762 19762 236597
WORK ALLOWANCE 13972 14375 14375 14375 14375 14375 14375 14375 14375 14375 14375 14375 172097
INCENTIVE 0 59171 0 0 24438 0 0 44625 0 0 0 0 128234
CONTEST PAYOUT 0 1000 150000 0 0 0 0 0 0 0 0 0 151000
—————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————
TOTAL EARNING 54145 115871 205700 55700 80138 55700 55700 100325 55700 55700 55700 55700 946079
—————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————
STATUTORY P F 1742 1800 1800 1800 1800 1800 1800 1800 1800 1800 1800 1800 21542
PROF. TAX 200 200 200 200 200 200 200 200 200 200 300 200 2500
LWF 0 0 25 0 0 0 0 0 25 0 0 0 50
INCOME TAX 0 0 17962 2362 3928 1386 1386 6027 1386 18650 0 0 53087
—————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————
TOTAL DEDUCTION 1942 2000 19987 4362 5928 3386 3386 8027 3411 20650 2100 2000 77179
—————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————
NET 52203 113871 185713 51338 74210 52314 52314 92298 52289 35050 53600 53700 868900
—————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————————
TAX CALCULATIONS NEW REGIME OLD REGIME|INVESTMENTS U/S 80C..........................|TAX CALCULATION ON TAXABLE INCOME.....RS.872037
————————————————— —————————— ——————————PF—DED 21542 | 0— 250000: 250000 x 0% = 0.00
TOTAL EARNING 946079 946079| | 250000— 500000: 250000 x 5% = 12500.00
ADD : PERKS & OTHERS 0 0| | 500000— 872037: 372037 x 20% = 74407.40
TOTAL GROSS 946079 946079| |TOTAL (Rounded) = 86908.00
| |EDUCATION CESS @ 4% on 86908 = 3477.00
LESS: EXEMPTION U/S10/OTHERS 0 0| |TOTAL TAX = 90385.00
LESS: PROFESSION TAX 0 2500| |
LESS: STANDARD DEDUCTION 75000 50000| |
NET SALARY 871079 893579| |
| |
LESS: HOUSING LOAN INTEREST 0 0| |
LESS: INVEST. U/S 80C 0 21542| |
LESS: INVESTMENTS U/S 80(OTH) 0 0| |
| |
TAXABLE INCOME 871079 872037| |
| |
TOTAL TAX 38593 90385| |
———————————————————————————————————————————————————| |
TAX APPLIED AS PER OLD REGIME 90385 | |
———————————————————————————————————————————————————| |
LESS: TAX DEDUCTED AT SOURCE 53087 | |
| |
BALANCE TAX PAYABLE 37298 | |
BALANCE NUMBER OF MONTHS 2 | |
MONTHLY TAX 18649 | |

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