Salary Income Tax
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Statement Of Computation Of Income

    RS RS

Income from salary
Income by way of allowance
Taxable value of perquisite
Gross salary
Less:Deduction under section 16
Entertainment allowance
Professional tax
Taxable income under the head salaries"

Income from house property
Adjusted net value
Less:Deduction under section 24
Taxable income under the head "income from house property"

Profits and gains of business or profession
Net profit as per p & l A/C
Add:Amounts which are debited to P & L A/C but are not allowable as deductions under the act
Taxable under the head "profit and gains of business or profession"

Capital gains
Amount of gains
Less:Amount exempt under sections 54,54B,54D,54EC,54ED,54F54G and 54GA
Taxable under the head "Capital gains"

Income from other sources
Gross income
Less:Deductions under section 57
Taxable income under the head "income from other sources"
Total (ie 1+2+3+4+5)
Less:Deductions under Sections 80C to 80U
Total income or net income liable to tax
Computation of tax liability
Tax on net income
Tax and surcharge
Add: Education cess and secondary and higher education cess
Less:Rebate under sections 86, 89,90, 90A and 91
Less: Pre-Paid Taxes
Tax paid on self assessment
Tax deducted or collected at source
Tax paid in advance
Tax liability

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