NATIONAL INSTITUTE OF PHARMACEUTICAL EDUCATION &
RESEARCH (NIPER), GUWAHATI
Nemcare, NITS MIRZA, Santipur, Mirza, Parlli Part, Assam 781125
STATEMENT OF CALCULATION OF INCOME TAX
FOR THE FINANCIAL YEAR 2018-19
(Please carefully read the instruction/note attached herewith
before filling up this statement)
PART – A (Refer Note 1)
Individual / Senior Citizen
a) PAN Number (in Block Letters) : Male/Female :
b) E.C.No. : Mobile No. :
c) Name of the Employee : Aadhar No :
d) Designation : Date of Birth :
e) Name of the Dept/Section : Age :
f) Email ID :
(If above 60, indicate Senior Citizen)
PART – B
1. (I) Total Gross Salary Income (Refer Note 2) :
a) Gross Salary received : Rs.
b) Pay Arrears received : Rs.
c) D.A. Arrears/ Bonus received : Rs.
d) Honorarium received : Rs.
e) Remuneration received : Rs.
(II) ADD (a) Any other perquisites Remuneration,.
etc. received (Refer Note. 3) : Rs.
2. LESS:
(i) HRA exempted (Refer Note 4) Rent Receipt Format enclosed : Rs.
(ii) Transport Allowance exempted : Rs.
(Max 1600/pm)
(iii) Professional Tax paid : Rs.
3. Total Salary Income (1 – 2) : Rs.
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4. Income from House Property
i) For Self Occupied property
LESS: Interest paid on HBA/Housing Loan {Max 2.0 Lakhs} : Rs.
Section 24(b)
(ii) For Income from Let out property
a) Income from Let out property : Rs.
b) LESS House Tax paid : Rs.
c) Net Value of income [(a) – (b)]
d) LESS 30% of Net Value (c) for repairs and maintenance : Rs.
e) LESS Interest paid on HBA/Housing loan : Rs.
f) Income chargeable under income from house property
(c ) – [ (d) +(e) ] : Rs.
5. Income from Other Sources
(i) Interest from Bank FD : Rs.
(ii) Bank Interest on Savings Bank A/C (Mandatory) : Rs.
(iii) Remn./Honorarium received from other University/
Institutions (Valuation/ Invigilation work etc., : Rs.
(iv) Any Other Income / Family Pension : Rs.
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6 . Aggregate of (3) - 4(i)+(5) or (3) +4(ii) +(5) : Rs.
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2-
7. LESS -
Deduction under Section 80 C, 80 CCC & 80 CCD * (Refer Note 6)
(i) a) Contribution in Provident Fund(GPF/CPF) : Rs.
b) Life Insurance Premium paid : Rs.
c) Repayment of Housing Loans paid (Principal) : Rs.
d) Tuition fees paid (Two Children) : Rs.
e) Group Insurance premium : Rs.
f) PLI Premium paid/PPF : Rs.
g) NSC Investment : Rs.
h) Investment on Govt. Securities : Rs.
i) Investment on approved shares : Rs.
j) Contribution in Pension Fund : Rs.
k) Investment in approved mutual funds (Sec 80 CCC) : Rs.
l) Investment on other approved institutions : Rs.
m) Other’s Refer Note: 6) : Rs.
Total Deduction Claimed (Subject to maximum of Rs.1,50,000) : Rs.
8. LESS Contribution to Rajiv Gandhi equity saving scheme 80CCG :Rs.
(Maximum Rs.25,000/-)(less than Rs. 10,00,000) (Refer Note 10)
9. LESS Contribution in Medical policy (Sec 80 D) * : Rs.
(Refer Note 6)
10. LESS Expenditure on Medical Treatment incurred
for physically Handicapped dependant (Sec 80 DD)* : Rs.
(Refer Note 7)
11. Interest paid on Loan taken for Education (Sec 80 E)* : Rs.
12. LESS Interest earned on deposits in a saving A/c upto : Rs.
Rs. 10,000/- (Sec 80 TTA)*
13. LESS Interest earned on deposits in a saving and FD A/c upto : Rs.
Rs. 50,000/- (Sec 80 TTB)* (Only for Senior Citizens not
claiming benefit u/s. 80TTA)
14. Donation (Swachh Bharat Kosh) & (Clean Ganga) (Sec 80G)* : Rs.
15.Total Taxable Income [6 – (7+8+9+10+11+12+13)] : Rs.
(To be rounded off to the nearest ten rupees)
16. Tax on Total Taxable Income (Refer Note 9) : Rs.
17. Tax Rebate Rs.2500 – for below Rs. 3,50,000/-
(Sec 87 A)* ( Refer note 11) : Rs.
18. Education Cess (4% on Tax) : Rs.
19. Total Tax : Rs.
20. LESS Tax deducted at source/from arrears : Rs.
21. Balance Tax Payable (19-20) : Rs.
22. Proposal to recover the Balance Tax
I hereby authorize the Drawing Officer/Disbursing Officer to deduct the balance
amount of tax from my monthly salary as detailed below.
Sept’18 Rs. Oct’18 Rs.
Nov’18 Rs: Jan’19 Rs:
Dec’18 Rs: Feb’19 Rs:
Declaration
I ______________________________ hereby certify that the above, information submitted by me
is true and correct to the best of my knowledge and I did not suppress any material facts. In case
of any discrepancy/controversy in r/o proofs furnished, I agree to go by the IT deductions made
by the University based on the records of University.
Signature :
Place : Guwahati Name :
Date : / / 2018 Designation :
IMPORTANT NOTES FOR FILLING UP THE INCOME TAX
CALCULATION STATEMENT
Note 1 The PAN number should be necessarily filled at the Part-A of the Income
Tax Statement Form. Any form submitted without copy of PAN number will
not be accepted and it will be returned to the individuals immediately. Non
submission of PAN will attract deduction of TDS @ 20%
Note 2 The pay arrears/D.A. arrears received during the financial year should be
included under Sl.No.1 (I)
Note 3 All the additional income received by way of honorarium, remuneration from
NIPER Guwahati and other institutions are to be included under
Sl.No.1 (II)
Note 4 For claiming HRA exemption a working sheet has to be attached in the
following methods.
HRA EXEMPTION WORKING SHEET
I. Actual HRA received (Annual) :Rs.
II Rent Paid in Excess of 10% of Salary
i.e.10% of (Basic pay + Grade pay + DA) :Rs.
III 40% of Basic + Grade Pay +DA (Annual) :Rs.
IV The Least amount among I, II and III :Rs.
(Proof for payment of house rent has to
be attached denoting the location of the
house, signature of the Land Lord, his
name, PAN and address as per rent receipt
format is enclosed)
Note 5 (i) The remittances towards Insurance premium, HBA (principal), PLI etc
made by the assessee directly other than salary recovery, are to be proved
through proper evidences. Otherwise the contribution made through salary
recovery alone will be taken into account for allowing deduction under
Section 80 C (Sl. No.7)
(ii) Term deposit for a fixed period of not less than five years in the State
Bank of India or Public Sector Bank or Scheduled Bank etc.
Note 6 Under Section 80 D deduction is allowed for medical insurance premium
paid under approved schemes which are popularly known as MEDICLAIM
for maximum of Rs.35,000 for the Senior Citizen (60 years and above) and
Rs.25,000 for others.
Note 7 Under Section 80 DD deduction is allowed in respect of expenditure incurred
for medical treatment of the handicapped dependant etc. and deposit made for
maintenance of handicapped dependants for a maximum amount of Rs.
75,000. To avail this deduction the dependant should be an handicapped.
with disability of 40 % and above and the assessee should produce the
dependency certificate, physical disability certificate and proof for incurring
the expenditure for treatment, rehabilitation, maintenance etc and
Rs.1,25,000/- in the case of severe disability.
Note 8 INCOME TAX CALCULATION TABLE FOR TAXABLE INCOME
I. FOR INDIVIDUALS
a) upto Rs. 2,50,000/- : Tax : Nil
b) from Rs.2,50,001 to Rs.5,00,000 : 5 % of income exceeding Rs.2,50,000/-
c) from Rs.5,00,001 to Rs.10,00,000 : Rs.12,500 plus 20% of
income exceeding Rs.5,00,000
d) Above Rs.10,00,000 : Rs.1,12,500 plus 30% of
income exceeding Rs.10,00,000
*Rebate of Rs.2500/- will be available on taxable income less than Rs.3,50,000/-
II FOR SENIOR CITIZEN
(60 YEARS and above)
a) upto Rs. 3,00,000 : Tax : Nil
b) from Rs.3,00,001 to Rs.5,00,000 : :5 % of income exceeding
Rs.3,00,000/-
c) from Rs.5,00,001 to Rs.10,00,000 : Rs.10,000 plus 20% of
income exceeding Rs.5,00,000/-
d) Above Rs.10,00,000 :Rs.1,10,000 plus 30% of
income exceeding Rs.10,00,000/-
Note 9 Under the Income Tax rules, deduction from gross income towards tax benefit will
be allowed strictly subject to production of relevant proofs to the satisfaction of the
Pay Drawing and Disbursing Officer. Hence all the employees are hereby informed
to produce the proofs along with IT Calculation Statement in time for such
deductions as claimed by them. Otherwise such deduction will be automatically
disallowed.
Note 10 First time investors get the exemption 50% under the Section. That 50% amount
should not exceeding Rs.25,000/- under section 80CCG
Note 11 A resident individual (whose net income does not exceed Rs.3,50,000/-) can avail
rebate under section 87A. It is deductible from income tax before calculating
education cess. The amount of rebate is 100 percent of income tax or Rs.2500/-,
whichever is less.
Schedule for submission of Income Tax Calculation forms.
a) Last date for submission Income Tax
Calculation Statement in the Finance Section : 27.09.2018
With Proof for claiming deductions
b) Form 16 Will be issued from : 01.07.2019
