• Skip to main content
  • Skip to primary sidebar
  • Home
  • Aicpin
  • Recent Post
  • Pay Matrix
    • Defence Personnel
      • MNS Officers
  • Recent Govt Orders
    • Dopt orders
    • Finmin orders
  • DA From January 2021
  • Holiday list 2020
Govtempdiary

Govtempdiary

Govtempdiary is leading Central government employees news provider

You are here: Home / CGE LATEST NEWS / Calculation Of Tax – House Building Loan
This image has an empty alt attribute; its file name is b_new.gif Demanded for payment of Dearness Allowance/Dearness Relief with arrears since 01.01.2020
This image has an empty alt attribute; its file name is b_new.gif AICPIN for the month of November 2020
This image has an empty alt attribute; its file name is b_new.gif LTC cash voucher scheme Calculator
This image has an empty alt attribute; its file name is b_new.gif Expected DA from January 2021 Calculator
This image has an empty alt attribute; its file name is b_new.gif List of Kendriya Vidyalaya Schools 2021

Quick links
Hot newsDopt orders
Recent govt ordersRecent post

Calculation Of Tax – House Building Loan

September 27, 2018 rajasinghmurugesan

Calculation Of Tax House Building Loan

Example 6

For Assessment Year 2018-19

Illustrating Valuation of perquisite and calculation of tax in the case of an employee below the age of 60 years of a Private Company posted at Delhi and repaying House Building Loan ( With valid PAN furnished to employer).

 

S.No. Particulars Rupees
1 Salary 4,00,000
2 Dearness Allowance 1,00,000
3 House Rent Allowance 1,80,000
4 Special Duties Allowance 12,000
5 Provident Fund 60,000
6 LIP 10,000
7 Deposit in NSC VIII issue 30,000
8 Rent Paid by the employee for house hired by her 1,20,000
9 Repayment of House Building Loan (Principal) 60,000
10 Tuition Fees for three children (Rs.10,000 per child) 30,000

Computation of total income and tax payable thereon

S.No. Particulars Rupees
1 Gross Salary (Basic+DA+HRA+SDA) 6,92,000
Less: House rent allowance exempt U/s 10 (13A) Least of: 70,000
(a).    Actual amount of HRA received. :Rs.1,80,000 (b).    Expenditure on rent in excess of 10% of salary (Including D.A.)assuming D.A. is included for retirement benefits (1,20,000- 50,000) :Rs.70000 (c).    50% of salary (including D.A) : Rs.2,50,000
2 Gross Total Taxable Income 6,22,000
Less: Deduction U/s 80C  

 

 

 

 

 

1,50,000

(i).    Provident Fund :                          60,000
(ii).   LIP :                                                  10,000
(iii). NSC VIII Issue :                             30,000
(iv). Repayment of HBA :                     60,000
(v).   Tuition Fees (Restricted to two children) :                                                20,000
Total :                                                    1,80,000
Restricted to                               1,50,000
Total Income 4,72,000
Income Tax thereon/payable 11,100
Add:
(i).   Education Cess @2% 222
(ii). Secondary and Higher Education Cess @1% 111
Total Income Tax payable 11,433
Rounded off to 11,430

 

Related posts:

  1. Income Tax Calculation of House Rent Allowance U/S 10 (13A)
  2. Income Tax Calculation For House Rent Allowance – U/s 10 (13A)
  3. How to calculate the Income Tax exemption on House Rent Allowance
  4. One Computation of Taxable Salary and allowances, Deduction for Interest on Housing Loan and Deduction u/s 80C.
  5. Eight Examples For Income tax Calculation – 2013-14
  6. House Building Advance Interest Rate Reduced from 8.5% to 7.9%
  7. 7th CPC – Grant of House Building/Marriage/Vehicle/Computer Advance to Haryana Government Employees
  8. Calculation Of Income Tax Assessment Year 2018-19 – Medical Treatment Expenditure
  9. House Building Advance Rules (HBA) – 2017
  10. House Building Advance ceiling revised-TN-GOV-IN
  11. Clarifications regarding House Building Advance
  12. RBE No.19/2020 : Interest Rale on House Building Advance (HBA) for Railway employees
  13. House Building Advance 2017
  14. Tax Concession on Interest Paid on Education Loan
  15. 7th CPC Military Brochure – House Building Advance
  16. Calculation of Income tax an Employee Below 60 Age A.Y.2018-19
  17. Examples of Income Tax Calculation
  18. Interest bearing advances/ Seventh Central Pay commission recommendation on House Building Advance – enhancement in past cases
  19. Amendment to rules on House Building Advance to Railway Servants – 7th CPC
  20. Income Tax Calculation Ay 2018-19 – Handicapped Dependent

Filed Under: CGE LATEST NEWS, Income tax September 27, 2018 Leave a Comment

LTC cash voucher scheme 2020
LTC cash voucher scheme 2020

PIB – “Pension Payment Order” (PPO) promises ease of living for senior citizens: Dr Jitendra Singh

January 18, 2021 By selva 2 Comments

“Pension Payment Order” (PPO) promises ease of living for senior citizens: Dr Jitendra Singh Ministry of Personnel, Public Grievances & Pensions Posted On: 17 JAN 2021 5:16PM by PIB Delhi Union Minister of State (Independent Charge) Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr. Jitendra Singh […]

Finmin Order – Standard Operating Procedure for Redressal of Public Grievances

January 18, 2021 By selva Leave a Comment

Finmin Order – Standard Operating Procedure for Redressal of Public Grievances File No. M-51011/1/2020-CDN-CGA/1066Ministry of FinanceDepartment of Expenditure,Controller General of Accounts Mahalekha Niyantrak BhawanE-Block, GPO Complex, INA, New DelhiDated 13th January,2021 OFFICE MEMORANDUM Subject: Standard Operating Procedure for Redressal of Public Grievances-reg. In order to enhance the effective grievance redressal mechanism in the CGA office, […]

PCDA – Functioning of office with 100% strength

January 13, 2021 By GEDWEBZIP Leave a Comment

All the officers and staff members will attend their respective offices with 100% strength. It is reiterated that instructions on COVID-19 protocol and preventive measures issued by MHA and Ministry of Health and Family Welfare from time to time must be strictly complied with

CPAO : Submission of Life Certificate by NPS-AR pensioner through Jeevan Pramaan

January 13, 2021 By GEDWEBZIP Leave a Comment

Submission of Life Certificate has been developed in Jeevan Pramaan for NPS-AR pensioners and this interface is now live for submission of Digital Life Certificate (DLC) through Jeevan Pramaan

High Court Order : Freezing of Industrial Dearness Allowance w.e.f. 01.10.2020

January 9, 2021 By GEDWEBZIP Leave a Comment

Regarding freezing of Industrial Dearness Allowance w,e.f. 01.10.2020 in respect of Executives and Non-Unionised Supervisors of CPSEs following IDA pay pattern

Grant of Advance – Special Festival Package(10,000/-) to Govt Servants

January 7, 2021 By GEDWEBZIP Leave a Comment

Grant of Advance – Special Festival Regarding an Interest Free Advance of Rs 10,000/- on account of Special Festival Package and Application For claiming Special Festival Package

Interest rates for National (Small) Savings Schemes – SB Order No. 38/2020

January 6, 2021 By GEDWEBZIP Leave a Comment

The rate of interest on various Small Savings Schemes (National Savings Schemes) for the fourth quarter of financial year 2020-21 (starting from 1st January, 2021 and ending on 31th March, 2021)

Grant of Pongal Prize to ‘C’ and ‘D’ Group Pensioners/All Family Pensioners – TN Govt Order

January 5, 2021 By GEDWEBZIP Leave a Comment

This order shall also be applicable to all ‘C’ and ‘D’ Group provisional pensioners. The Pongal Prize amount shall not be admissible to those employees who retire on or after 04-01-2021

Adhoc Bonus for Pongal festival 2021 – TN Govt Order

January 5, 2021 By GEDWEBZIP Leave a Comment

The Ad-hoc Bonus shall be computed on the basis of actual emoluments as on 31st March 2020. The amount of ad-hoc bonus shall be calculated as if monthly emoluments were Rs.3,000/- per month

More Posts from this Category

List of Holidays during the year 2021 for central government offices in Tripura

Regarding list of public and restricted holidays during the year 2021 for central government offices located in Tripura

Holiday list in the State of Haryana during the Calendar year 2021

Holiday list both public holidays and restricted holidays in the State of Haryana during the Calendar year 2021, dated December 3, 2020

Recent comments

  • CHIRANJIBI NEPAL on Promotion/MACP Option form Calculator
  • Raj Kishore Pradhan on Expected Dearness allowance [DA] from January 2021 Calculator
  • M Ali on Posting/transfer of defence civilian employees on compassionate grounds or on mutual basis
  • M.K.KUMAR on LTC Leave Enhancement Calculator For Block Year 2018-2021
  • M.K.KUMAR on LTC Leave Enhancement Calculator For Block Year 2018-2021
  • M.K.KUMAR on Promotion/MACP Option form Calculator
  • Pradeep Kumar on Micro ATM – IPPB
  • Pradeep Kumar on Micro ATM – IPPB
  • Rajesh on LTC Leave Enhancement Calculator For Block Year 2018-2021
  • shail bhatt on LTC Leave Enhancement Calculator For Block Year 2018-2021

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Search

calcuators

  • Expected DA Calculator January 2021
  • HRA calculator 2020 (DA>25%)
  • Tax benefit calculator 2020
  • Expected DA For Bank Employees From November 2020
  • 7th pay commission calculator [updated]
  • Promotion/MACP Option form Calculator
  • 7th Pay Commission Pension Calculator
  • Bonus Calculator 2020
  • LTC Leave Enhancement Calculator For Block Year 2018-2021
  • LTC cash voucher scheme Ready reckoner

Pay Matrix table

  • Defence Personnel
  • MNS Officers
  • Tamil nadu
  • Rajasthan
  • Odisha
  • Gujarat
  • Haryana
  • Jharkhand
  • Madhya Pradesh
  • Nagaland
  • Tripura
  • Uttrakhand
  • Assam
  • Bihar

CSD Price list

  • CSD Car Price List 2021
  • Maruti Suzuki CSD Car Price List 2021

KVS Schools list

  • List of Kendriya Vidyalaya Schools
Copyright© 2010–2021

Central Government Employees News - Govtempdiary