• 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 July 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

Online Registration for Admission to Class I in Kendriya Vidyalayas kvsonlineadmission.kvs.gov.in

This image has an empty alt attribute; its file name is b_new.gif 7th CPC Calculator July 2021
This image has an empty alt attribute; its file name is b_new.gif Grant of Paid holiday to employees on the day of poll 2021
This image has an empty alt attribute; its file name is b_new.gif AICPIN for the month of february 2021
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 July 2021 Calculator
This image has an empty alt attribute; its file name is b_new.gif KV school admission 2021-22

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. DOP : SOP for handling of PLI/RPLI Loan cases
  2. Extend the moratorium on term loan instalments by another three months.(from June 1, 2020 to August 31, 2020)
  3. Use of National Regulations/National Standards/Building Codes
  4. RBE No. 63/2020 – Additional Post allowance for DA/HRA under 7th CPC
  5. Online Allotment of Railway Officers Rest House, Holiday Homes, Community Centres/Halls – Railways
  6. Income Tax Notification, Rules 2021
  7. Calculation of monthly contribution towards cost of Pension payable during foreign service: RBE No. 93/2020
  8. Income Tax deduction from salaries for the year 2020-21: Circular No. 20/2020
  9. BSNL – TDS deduction on payment of medical bills of Retired Employees
  10. Exercising option for Deduction of TDS under old/New rates of Income Tax(2020-21)
  11. Kendriya Vidyalaya Dhanbad Old Dvs Building Admission, Results, Fee structure, Address, Contacts
  12. Will the HRA rise for Central government employees in July?
  13. Deduction of TDS under old & new rates of IT for the Financial Year 2020-21
  14. Consumer Protection Rules 2020 – Department of Consumer Affairs
  15. CBDT : Income-tax (12th Amendment) Rules, 2020
  16. PCDA : Tax deduction as per old module along with “Self Declaration”
  17. Recovery of Income Tax for the year 2020-21 (Assessment Year 2021-22)
  18. DOPT : Early Closure of Offices in connection with Republic Day Parade and Beating Retreat Ceremony during January, 2021 -regarding
  19. Delay in issuing orders for grant of additional Dearness Allowance w.e.f. 01.01.2020

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

Grant Notional Increment to applicant retired on 30th June, CAT denies DoPT’s interpretation that judgement in personam because pay fixation is governed by uniform policy of the Government

April 13, 2021 By selva Leave a Comment

Grant Notional Increment to applicant retired on 30th June, CAT denies DoPT’s interpretation that judgement in personam because pay fixation is governed by uniform policy of the Government Reserved CENTRAL ADMINISTRATIVE TRIBUNAL, ALLAHABAD BENCH, ALLAHABAD (This the 26th Day of February, 2021) Hon’ble Mrs. Justice Vijay Lakshmi, Member (Judicial) Original Application No.330/001 46/2020 1. Pravesh […]

CGHS : Extension of empanelment of AYUSH Hospitals/Centers under CGHS and CS (MA) Rules till 15th January, 2022

April 12, 2021 By selva Leave a Comment

CGHS : Extension of empanelment of AYUSH Hospitals/Centers under CGHS and CS (MA) Rules till 15th January, 2022 File No.25-2/2018/CGHS/JDAYUSH Government of India Ministry of Health & Family Welfare Directorate General of Central Government Health Scheme *** Nirman Bhawan, New Delhi OFFICE MEMORANDUM Subject:- Extension of empanelment of AYUSH Hospitals/Centers under CGHS and CS (MA) […]

Pension Scheme on Railways and Retirement Benefits on absorption in Public Sector Undertakings/Autonomous Bodies.

April 11, 2021 By selva Leave a Comment

Railways : Pension Scheme on Railways and Retirement Benefits on absorption in Public Sector Undertakings/Autonomous Bodies. GOVERNMENT OF INDIA (BHARAT SARKAR)MINISTRY 0 RAILWAYS (RAIL MANTRALAYA)(RAILWAY BOARD)M.C. No. 53(2021) RBE No. rg 2021 No. D-43/14/2019-F(E)III New Delhi, dated:ft+ .03.2021. The General Managers,All Indian Railways, Production Units, Metro Railway, Calcutta and others. Sub: Pension Scheme on Railways […]

Regarding revision of pension of employees who were compulsory retired and those dismissed/removed but given compassionate allowance

April 11, 2021 By selva Leave a Comment

Regarding revision of pension of employees who were compulsory retired and those dismissed/removed but given compassionate allowance Office of the Pr. Chief Commissioner of Income Tax,Andhra Pradesh & Telangana, Hyderabad,10th Floor, Income Tax Towers,AC Guards, Hyderabad — 500 004.Tel No. 040 — 23425474, Fax 040-23241427 F.No.Pr.CCIT/Misc/Estt/2020-21 Date: 08/04/2021 ToAll the AO/DDOs ofPr.CCIT, AP & Telengana […]

Declaration of Holiday on 14th April, 2021 – Birthday of Dr. B.R. Ambedkar

April 1, 2021 By selva Leave a Comment

Declaration of Holiday on 14th April, 2021 – Birthday of Dr. B.R. Ambedkar F. No. 12/4/2020-JCA Government of India Ministry of Personnel, Public Grievances & Pensions (Department of Personnel & Training) Establishment (JCA) Section North Block, New Delhi Dated the March, 2021 OFFICE MEMORANDUM Subject: Declaration of Holiday on 14th April, 2021 – Birthday of […]

Finmin Order : Clarification regarding full and final settlement of bills/claims pertaining to LTC Special Cash Package Scheme

April 1, 2021 By selva Leave a Comment

Finmin Order : Clarification regarding full and final settlement of bills/claims pertaining to LTC Special Cash Package Scheme No. 12(2)/2020-E.Il(A) Government of India Ministry of Finance Department of Expenditure North Block, New Delhi Dated 31st March, 2021 OFFICE MEMORANDUM Subject: Clarification regarding full and final settlement of bills/claims pertaining to LTC Special Cash Package Scheme. […]

Revision of interest rates for Small Savings Schemes – Regarding

April 1, 2021 By selva Leave a Comment

Revision of interest rates for Small Savings Schemes – Regarding F.No.1/4/2019-NS Government of IndiaMinistry of FinanceDepartment of Economic Affairs(Budget Division) North Block, New Delhi Dated: 31.03.2021 OFFICE MEMORANDUM Subject: Revision of interest rates for Small Savings Schemes – reg. In exercise of the powers conferred by Rule 9(1) of the Government Savings Promotion General Rules, […]

DoP&PW Notification No. G.S.R.227(E) dated 30.03.2021 – Regulating the methods of implementation of National Pension System

April 1, 2021 By selva Leave a Comment

DoP&PW Notification No. G.S.R.227(E) dated 30.03.2021 – Regulating the methods of implementation of National Pension System MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS(Department of Pension and Pensioners’ Welfare) NOTIFICATION New Delhi, the 30th March, 2021 G.S.R. 227(E). – In exercise of the powers conferred by the proviso to article 309 and clause (5) of article […]

NPS to OPS Coverage under CCS Pension Rules : Selection for appointment were finalized before 01.01.2004 but joined Government service on or after 01.01.2004

April 1, 2021 By selva Leave a Comment

NPS to OPS Coverage under CCS Pension Rules : Selection for appointment were finalized before 01.01.2004 but joined Government service on or after 01.01.2004 No. 57/04/2019-P&PW(B) Government of IndiaDepartment of Pension and PW Lok Nayak Bhawan,Khan Market, New Delhi,the 31st March, 2021 OFFICE MEMORANDUM Subject: Coverage under Central Civil Services (Pension) Rules, 1972 of those […]

More Posts from this Category

Grant of Paid holiday to employees on the day of poll 2021

General Elections to legislative Assemblies of Assam, Kerala, Tamil Nadu, West Bengal, Puducherry, 2021 and Bye- election in 6-Malappuram PC of Kerala and 39-Kanniyakumari PC of Tamil Nadu – Grant of Paid holiday to employees on the day of poll- regarding F. No. 12/3/2016-JCA-2Government of IndiaMinistry of Personnel, Public Grievances and Pensions(Department of Personnel & […]

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

Recent comments

  • Mohit on 7th Pay Commission Salary Calculator – June vs July 2021
  • Suraj on Posting/transfer of defence civilian employees on compassionate grounds or on mutual basis
  • RAJ KUMAR on Posting/transfer of defence civilian employees on compassionate grounds or on mutual basis
  • Anonymous on DOP : Opportunity for revision of option to come over to revised pay structure, Clarification sought on DoE OM dated 12.12.2018 — regarding
  • Dinesh Munjal on Guidelines for Central government Staff check over Increment(1st July) Drawn every years
  • Dinesh Munjal on Guidelines for Central government Staff check over Increment(1st July) Drawn every years
  • Dinesh Munjal on Guidelines for Central government Staff check over Increment(1st July) Drawn every years
  • D..K.Jha on 7th Pay Commission Pay Matrix table
  • D..K.Jha on 7th Pay Commission Pay Matrix table
  • Mv Gupta 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 from July 2021- Calculator
  • HRA calculator 2021 (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