I have recently changed companies and have completed Form 12b using my salary slips. I need to confirm if the values for columns 6, 7, and 8 are correct before submitting them to my current employer. Below is how I have calculated them; please provide corrections if needed.
| Category | TOTAL (from payslips) | Exemptions/Deductions | Taxable Amount |
|------------------------|-----------------------|------------------------|----------------|
| BASIC | 295418 | - | 295418 |
| HRA | 147707 | 136500 | 11207 |
| TRANSPORT | 9600 | 9600 | 0 |
| UNIFORM | 25270 | 25270 | 0 |
| MEDICAL | 8750 | 8750 | 0 |
| CONVEYANCE | 31800 | 31800 | 0 |
| TELEPHONE | 34600 | 34600 | 0 |
| BOOKS AND PERIODICALS | 25087 | 25087 | 0 |
| ARREARS | 32502 | - | 32502 |
| OTHER REIMBURSEMENT | 1200 | 1200 | 0 |
| LEAVE ENCASHMENT | 23286 | 23286 | 0 |
| TOTAL | 635220 | | |
Form 12b:
Column 6: Total amount of salary excluding amounts required to be shown in columns 7 & 8 = 327920 from (1) + (9) above
Column 7: Total amount of house rent allowance, conveyance allowance, and other allowances to the extent chargeable to tax [see section 10(13A) read with rule 2A and section 10(14)] = 11207 from (2) above
Column 8: Value of perquisites and the amount of accretion to the employee's provident fund account (give details in the annexure) = 0 (since the employer's contribution was not above 12% of 15000)
Thanks,
PD
From India, Chennai
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| Category | TOTAL (from payslips) | Exemptions/Deductions | Taxable Amount |
|------------------------|-----------------------|------------------------|----------------|
| BASIC | 295418 | - | 295418 |
| HRA | 147707 | 136500 | 11207 |
| TRANSPORT | 9600 | 9600 | 0 |
| UNIFORM | 25270 | 25270 | 0 |
| MEDICAL | 8750 | 8750 | 0 |
| CONVEYANCE | 31800 | 31800 | 0 |
| TELEPHONE | 34600 | 34600 | 0 |
| BOOKS AND PERIODICALS | 25087 | 25087 | 0 |
| ARREARS | 32502 | - | 32502 |
| OTHER REIMBURSEMENT | 1200 | 1200 | 0 |
| LEAVE ENCASHMENT | 23286 | 23286 | 0 |
| TOTAL | 635220 | | |
Form 12b:
Column 6: Total amount of salary excluding amounts required to be shown in columns 7 & 8 = 327920 from (1) + (9) above
Column 7: Total amount of house rent allowance, conveyance allowance, and other allowances to the extent chargeable to tax [see section 10(13A) read with rule 2A and section 10(14)] = 11207 from (2) above
Column 8: Value of perquisites and the amount of accretion to the employee's provident fund account (give details in the annexure) = 0 (since the employer's contribution was not above 12% of 15000)
Thanks,
PD
From India, Chennai
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Salary Breakdown and Taxable Amounts
Total (from payslips) Exemptions/Deductions Taxable Amount
- BASIC: 295418 295418
- HRA: 147707 136500 11207
- TRANSPORT: 9600 9600 0
- UNIFORM: 25270 25270 0
- MEDICAL: 8750 8750 0
- CONVEYANCE: 31800 31800 0
- TELEPHONE: 34600 34600 0
- BOOKS AND PERIODICALS: 25087 25087 0
- ARREARS: 32502 32502
- OTHER REIMBURSEMENT: 1200 1200 0
- LEAVE ENCASHMENT: 23286 23286 0
- TOTAL: 635220
Form 12b Details
Particulars of salary as defined in Section 17, paid or due to be paid to the employee during the year:
- Total of Columns 6, 7 & 8
- Total amount of salary excluding amounts required to be shown in columns 7 & 8
- Total amount of house rent allowance, conveyance allowance, and other allowances to the extent chargeable to tax [see section 10(13A) read with rule 2A and section 10(14)]
- Value of perquisites and amount of accretion to employee's provident fund account (give details in the annexure)
Column 6: 327920
Column 7: 11207
Column 8: 0
Column 9: 339127
Source: (1)+(9) (2)
From India, Chennai
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Total (from payslips) Exemptions/Deductions Taxable Amount
- BASIC: 295418 295418
- HRA: 147707 136500 11207
- TRANSPORT: 9600 9600 0
- UNIFORM: 25270 25270 0
- MEDICAL: 8750 8750 0
- CONVEYANCE: 31800 31800 0
- TELEPHONE: 34600 34600 0
- BOOKS AND PERIODICALS: 25087 25087 0
- ARREARS: 32502 32502
- OTHER REIMBURSEMENT: 1200 1200 0
- LEAVE ENCASHMENT: 23286 23286 0
- TOTAL: 635220
Form 12b Details
Particulars of salary as defined in Section 17, paid or due to be paid to the employee during the year:
- Total of Columns 6, 7 & 8
- Total amount of salary excluding amounts required to be shown in columns 7 & 8
- Total amount of house rent allowance, conveyance allowance, and other allowances to the extent chargeable to tax [see section 10(13A) read with rule 2A and section 10(14)]
- Value of perquisites and amount of accretion to employee's provident fund account (give details in the annexure)
Column 6: 327920
Column 7: 11207
Column 8: 0
Column 9: 339127
Source: (1)+(9) (2)
From India, Chennai
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