Income Tax Computation format pdf download : The form for Income Tax computation can be downloaded from the below-given link. The applicant can also get it from any of the charted accountant’s offices of the Income Tax department.
Income Tax Computation Format details to be filled
Following are the details to be filled in the form for filing Income tax.
Name
PAN
Date of Birth
PAN
A.Y
- Income from salaries (In Amount)
- Basic Salary
- Taxable Allowances
- Taxable value of perquisites
Gross Salary
- Less: standard deduction 2
- Less: Entertainment Allowance
- Less: Professional Tax
Net Taxable Salary
- Income from House Property (In Amount)
- Self-occupied property
Less: Deduction u/s 24 for interest on loans
- Let-out property: Gross Annual Value
Less: Municipal Taxes Paid
Net Annual Value
Less: Deductions u/s 24
Income from House Property [(a) + (b)]
3. Profits and Gains of Business or Profession
Net Profit/ Loss as per Profit & Loss Account
Add: Inadmissible Expenses and Loss Account
Losses debited to P & L A/c
Less: Admissible Expense not debited to P & L A/c
Net Business Income
- Income from Capital Gains
- Short-Term Capital Gains
- Long-Term Capital Gains
Sale Consideration
Less: Indexed Cost of Acquisition
Less: Indexed Cost of Improvement
Less: Transfer Expenses
Gross L.T.C.G.
Less: Exemption u/s 54, 54B, 54D, 54EC, 54EE, 54F, 54G, 54GA,
Net L.T.C.G. (b)
Total Capital Gains [i.e. (a) + (b)]
Less: Carried forward Capital Loss
Taxable Capital Gains
- Income from Other Sources
Gross Income
Less: Deduction u/s 57
Income from other sources
Aggregate of Incomes [Total of (1)+(2)+(3)+(4)+(5)]
Less: Adjustment for set-off of carries forward losses and allowance
Gross Total Income
Less: Deductions
Less: Deductions (u/s 80C to 80U)3
80C (Investment in specified schemes) 4
80CCC (Pension Fund) 5
80CCD (New pension scheme) 6
80D (Mediclaim) 7
80EE (Interest on loan for the first residential house) 8
80G (Donations) 9
80GG (Rent Paid) 10
80TTA (Saving Bank A/c Interest)
80TTB (Interest on Bank/ Post Office Deposits in case of a senior)
Others
Taxable Income (R/o to the nearest rupees ten)
Net Agricultural Income
Computation of Tax Liability
Income Tax on Short-term Capital Gains from the transfer of securities (u/s 111A) 11
Income Tax on Long-term Capital Gains (u/s 112) (u/s 111A) 12
Income Tax on Long-term Capital Gains form equity shares/ units of an equity-oriented mutual fund (u/s 112A) 13
Income Tax on Taxable Income plus Agricultural Income fewer capital gains (as above)
Total
Less: Relief on Agricultural Income
Income-Tax Payable 14
Less: Rebate u/s 87A
Net Income Tax Payable
Add: Surcharge
Add: Cess 15
Total Tax Payable, Surcharge, and Cess
Less: Relief u/s 86 and 89(1)
Balance Tax Liability
Add: Interest payable (if any) for delay in filing of return (u/s 234A) or short payment/ deferment of advance tax (u/s 234B & 234C)
Total
Less: Tax Deducted/ Collected at Source
Less: Advance Tax paid
Balance Tax and Interest Payable on Self Assessment/ Balance Refundable
Submission of Income Tax Computation form / Computation of Income pdf
The filled-in form of Income Tax can be submitted online by uploading the required documents through the official website.
We provide you with varied pdf forms that may be helpful for you in many ways. Users can download the forms and avoid confusion by following the simple steps that are presented for them. All the taxpayers should download the form provided in the link to proceed for payment of tax and make clear all the doubts by the given article.
