પગારદાર કર્મચારી માટે નાણાકીય વર્ષ ૨૦૧૮-૧૯ નું ગણતરી દર્શાવતુ મહત્વ નો લેખ !!

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By ડોલી ચૌહાણ, ટેક્સ ટુડે રિપોર્ટર

સામાન્ય રીતે પગારદાર કર્મચારી એ પોતાના નાણાકીય વર્ષ૨૦૧૮-૧૯ ના નાણાકીય અંદાજો પોતાના નોકરીદાતા ને મોડા માં મોડા ફેબ્રુઆરી સુધી માં આપી દેવના હોય છે. આ ગણતરી કેવી રીતે કરવી જોઈએ તે અંગે નો આ લેખ આપ સૌ ને ઉપયોગી નીવડશે તેવી આશા .

 વ્યક્તિ ની નાણાકીય વર્ષ ૨૦૧૮-૧૯ માટે ની મુક્તિ મર્યાદા ૨,૫૦,૦૦૦ છે.

 રહીશ સિનિયર સિટિઝનની નાણાકીય વર્ષ ૨૦૧૮-૧૯ માટે ની મુક્તિ મર્યાદા ૩,૦૦,૦૦૦ છે.

 રહીશ સુપર સિનિયર સિટિઝનની નાણાકીય વર્ષ ૨૦૧૮-૧૯ માટે ની મુક્તિ મર્યાદા ૫,૦૦,૦૦૦ છે.

 નાના કરદાતાઓને રાહત આપવાના હેતુસર આવકવેરા રિબેટની કલમ 87A હેઠળની પ્રવર્તમાન જોગવાઈ અનુસાર ૩,૫૦,૦૦૦ સુધી ની કરપાત્ર આવક ધરાવતી રહિશ વ્યક્તિ ના કેસ માં તેને ભરવાના આવકવેરા માથી ૧૦૦% અથવા ૨૫૦૦ રુ. બે માંથી જે વધારે હોય તે, આવકવેરા રિબેટ તરીકે મળવા પાત્ર રહેશે.

 સિનિયર સીટીઝનના કેસ માં મેડિકલ ઇન્શ્યોરન્સ પ્રીમયમ ની કપાત ને ૫૦,૦૦૦ કરવામાં આવી છે.

 કરદાતા તેના માતા-પિતા ના મેડિકલ ઇન્શ્યોરન્સ પ્રીમયમ ની ચુકવણી કરતાં હોય તો તેને ૧,૦૦,૦૦૦ સુધી ની કપાત નો લાભ મળી શકે છે.

 પગારદારો ને નવી દાખલ કરાયેલી કલમ 16(ia) હેઠળ નાણાકીય વર્ષ ૨૦૧૮-૧૯ થી પગાર ની આવક માથી ૪૦,૦૦૦ ની રકમ સ્ટાન્ડર્ડ ડીડકશન તરીકે બાદ આપવાની જોગવાઈ કરવામાં આવી છે.

નાણાકીય વર્ષ ૨૦૧૮-૧૯ દરમિયાન પગારદાર ની આવકની ગણતરી નું ઉદાહરણ દર્શાવતુ કોષ્ટક નીચે મુજબ છે.

વાર્ષિક પગાર                       6,00,000/-
બાદ : સ્ટાન્ડર્ડ ડિડકશન         40,000/-
બાદ : પ્રોફેસનલ ટેક્સ               2,400/-

કરપાત્ર પગાર ની આવક     5,57,600/-
ઉમેરો : અન્ય આવક                1,323/-

કુલ આવક                        5,58,923/-
બાદ : 80c

(LIC, MEDICAL INS. ,ETC.) 1,50,000/-

કુલ કર પાત્ર આવક                     4,08,923/-

 

કર ની ગણતરી

(૨,૫૦,૦૦૦ થી ૫,૦૦,૦૦૦ સુધી) ૫%    7,946/-
બાદ : જાન્યુવારી સુધી માં કાપેલ TDS 5,000/-

ફેબ્રુવારી મહિના ના પગાર માં કાપવા પાત્ર 2,946/-

FINANCIAL YEAR 2018-2019    /   ASSESSMENT YEAR  2019-2020
 SUMMARY OF SLAB & DEDUCTIONS UNDER INCOME TAX
– BY CA HARSHIL SHETH
This chart of Deductions & Slab rates will help you to plan your Income & Investments  and help you to minimize your Tax before March 2019. This summary will cover maximum issues related to coming return filling season.
CATEGORY <60 <80 >80
INCOME TAX SLABS FOR FY 2018-19 / AY 2019-20
Education + Health Cess of 4%
Tax Rebate : Tax rebate maximum upto Rs. 2500 for Total income upto Rs. 3,50,000
CONSIDERING REBATE , LETS RECALCULATE THE MAXIMUM TOTAL INCOME AT WHICH , THERE IS NO TAX
CATEGORY <60 <80 >80
BASIC EXEMPTION LIMIT ₹ 250,000 ₹ 300,000 ₹ 500,000
RECALCULATING THE MAXIMUM TOTAL INCOME AT WHICH , THERE IS NO TAX
TOTAL INCOME AFTER DEDUCTIONS ₹ 300,000 ₹ 350,000 ₹ 500,000
TAX ON TOTAL INCOME ₹ 2,500 ₹ 2,500 ₹ 0
LESS: REBATE 87A -₹ 2,500 -₹ 2,500 ₹ 0
ACTUAL TAX LIABILITY ₹ 0 ₹ 0 ₹ 0
SO, EFFECTIVE  TAX EXEMPTION LIMIT AT WHICH , THERE IS NO TAX ₹ 300,000 ₹ 350,000 ₹ 500,000
POPULAR DEDUCTIONS UNDER INCOME TAX  AVAILABLE TO ALL INDIVIDUALS
PLAN  MAXIMUM DEDUCTIONS / INVESTMENTS BEFORE MARCH 2019 TO MINIMIZE YOUR TAXABLE INCOME & ALSO TAX
24 24     =>  Home loan interest ₹ 200,000
80C 80C   =>  LIC / PPF / KVP / EPF / SSY / NSC / HOME LOAN PRINCIPAL / SCHOOL FEES/ ELSS/STAMP DUTY ₹ 150,000
80CCD(1B) 80CCD(1B)    =>   NPS ₹ 50,000
80DD 80DD   =>  Exp of  disabled dependent 75000/125000
80U 80U      =>  own Physical Disability 75000/125000
80TTA 80TTA   =>  Interest on Savings Account. Only available to Persons  other than Senior citizen / Very senior citizen ₹ 10,000
80TTB 80TTB   =>  Interest on Savings Account. and Interest on deposits with Post Offices, Banks, Co-operative bank. Only available to senior citizen & Very senior Citizen ₹ 50,000
80G 80G      =>  Donation ( Only if paid by cheque/ Bank Mode ) 50% of  Donation or 10% Total income ..W.E.IS HIGHER
80GG 80GG    => deduction for the rent paid (Available to all Individuals except to those who gets HRA from Employment ). Eligibility will be least amount of the following :-
1) Rent paid minus 10 percent the adjusted total income.
2) Rs 5,000 per month
3) 25 percent of the adjusted total income
80D 80D      =>  Mediclaim For self, spouse and dependent children ( Only if paid by cheque/ Bank Mode ) 25000/50000
Up to ₹ 25,000 [₹ 50,000 if specified person is a senior citizen or very senior citizen
80D 80D      =>  Mediclaim For Parents ( Only if paid by cheque/ Bank Mode ) 25000/50000
Upto Rs. 25,000 shall be allowed [Rs. 50,000 if parent is a Senior citizen / Very Senior Citizen
Note for 80D Within overall limit, deduction shall also be allowed up to ₹ 50,000 towards medical expenditure incurred on the health of specified person provided such person is a very senior citizen and no amount has been paid to effect or to keep in force an insurance on the health of such person.
ALLOWANCES AND DEDUCTIONS ONLY ALLOWED TO SALARIED INDIVIDUALS
HRA EXEMPTION A salaried individual having a rented accommodation can get the benefit of HRA (House Rent Allowance). However, if you aren’t living in any rented accommodation and still continue to receive HRA, it will be taxable.  HRA exemption available to Lower of following three
a.Total HRA received from your employer
b. Rent paid less 10 percent of (Basic salary +DA)
c. 40 percent of salary (Basic+DA) for non-metros and 50 percent of salary (Basic+DA) for metros
STANDARD DEDUCTION Rs. 40,000 Standard deduction for  Assessee who has Salary/ Pension Income
the standard deduction of Rs 40,000 replaces medical allowance of Rs 15,000 and transport allowance of Rs 1600 per month i.e. 19,200 per annum
LET’S FIND BREAKE-EVEN INCOME , WHERE YOU HAVE NO TAX TO PAY
ASSUMPTION – THESE CALCULATIONS ARE  DONE KEEPING IN MIND SALARIED PERSONS
FINANCIAL YEAR 2018-2019    /   ASSESSMENT YEAR  2019-2020
<60 <80 >80
 GROSS INCOME                                   725,000                                   840,000                                   990,000
DEDUCTIONS FROM INCOME LESS
STANDARD DEDUCTION                                     40,000                                     40,000                                     40,000
24                                   200,000                                   200,000                                   200,000
80C                                   150,000                                   150,000                                   150,000
80TTA                                     10,000
80TTB                                     50,000                                     50,000
80D                                     25,000                                     50,000                                     50,000
NET INCOME WHERE THERE WONT BE ANY TAX  TOTAL INCOME                                   300,000                                   350,000                                   500,000
TAX ON ABOVE INCOME                                        2,500                                        2,500                                               –
 REBATE AS PER 87A                                      -2,500                                      -2,500                                               –
ACTUAL TAX LIABILITY 0 0 0
– PREPARED BY CA HARSHIL SHETH                     9879831157
H A SHETH & ASSOCIATES     |     CA   HARSHIL SHETH  |  FCA,MBA,BBA,DISA  |     [email protected]     |   
58 , Vardhmannagar society , Caravan school lane , Behind Sardar Garden , Kalol ( North Gujarat ) – 382721

FINANCIAL YEAR 2018-2019    /   ASSESSMENT YEAR  2019-2020
 SUMMARY OF SLAB & DEDUCTIONS UNDER INCOME TAX
– BY CA HARSHIL SHETH
This chart of Deductions & Slab rates will help you to plan your Income & Investments  and help you to minimize your Tax before March 2019. This summary will cover maximum issues related to coming return filling season.
CATEGORY <60 <80 >80
INCOME TAX SLABS FOR FY 2018-19 / AY 2019-20
Education + Health Cess of 4%
Tax Rebate : Tax rebate maximum upto Rs. 2500 for Total income upto Rs. 3,50,000
CONSIDERING REBATE , LETS RECALCULATE THE MAXIMUM TOTAL INCOME AT WHICH , THERE IS NO TAX
CATEGORY <60 <80 >80
BASIC EXEMPTION LIMIT ₹ 250,000 ₹ 300,000 ₹ 500,000
RECALCULATING THE MAXIMUM TOTAL INCOME AT WHICH , THERE IS NO TAX
TOTAL INCOME AFTER DEDUCTIONS ₹ 300,000 ₹ 350,000 ₹ 500,000
TAX ON TOTAL INCOME ₹ 2,500 ₹ 2,500 ₹ 0
LESS: REBATE 87A -₹ 2,500 -₹ 2,500 ₹ 0
ACTUAL TAX LIABILITY ₹ 0 ₹ 0 ₹ 0
SO, EFFECTIVE  TAX EXEMPTION LIMIT AT WHICH , THERE IS NO TAX ₹ 300,000 ₹ 350,000 ₹ 500,000
POPULAR DEDUCTIONS UNDER INCOME TAX  AVAILABLE TO ALL INDIVIDUALS
PLAN  MAXIMUM DEDUCTIONS / INVESTMENTS BEFORE MARCH 2019 TO MINIMIZE YOUR TAXABLE INCOME & ALSO TAX
24 24     =>  Home loan interest ₹ 200,000
80C 80C   =>  LIC / PPF / KVP / EPF / SSY / NSC / HOME LOAN PRINCIPAL / SCHOOL FEES/ ELSS/STAMP DUTY ₹ 150,000
80CCD(1B) 80CCD(1B)    =>   NPS ₹ 50,000
80DD 80DD   =>  Exp of  disabled dependent 75000/125000
80U 80U      =>  own Physical Disability 75000/125000
80TTA 80TTA   =>  Interest on Savings Account. Only available to Persons  other than Senior citizen / Very senior citizen ₹ 10,000
80TTB 80TTB   =>  Interest on Savings Account. and Interest on deposits with Post Offices, Banks, Co-operative bank. Only available to senior citizen & Very senior Citizen ₹ 50,000
80G 80G      =>  Donation ( Only if paid by cheque/ Bank Mode ) 50% of  Donation or 10% Total income ..W.E.IS HIGHER
80GG 80GG    => deduction for the rent paid (Available to all Individuals except to those who gets HRA from Employment ). Eligibility will be least amount of the following :-
1) Rent paid minus 10 percent the adjusted total income.
2) Rs 5,000 per month
3) 25 percent of the adjusted total income
80D 80D      =>  Mediclaim For self, spouse and dependent children ( Only if paid by cheque/ Bank Mode ) 25000/50000
Up to ₹ 25,000 [₹ 50,000 if specified person is a senior citizen or very senior citizen
80D 80D      =>  Mediclaim For Parents ( Only if paid by cheque/ Bank Mode ) 25000/50000
Upto Rs. 25,000 shall be allowed [Rs. 50,000 if parent is a Senior citizen / Very Senior Citizen
Note for 80D Within overall limit, deduction shall also be allowed up to ₹ 50,000 towards medical expenditure incurred on the health of specified person provided such person is a very senior citizen and no amount has been paid to effect or to keep in force an insurance on the health of such person.
ALLOWANCES AND DEDUCTIONS ONLY ALLOWED TO SALARIED INDIVIDUALS
HRA EXEMPTION A salaried individual having a rented accommodation can get the benefit of HRA (House Rent Allowance). However, if you aren’t living in any rented accommodation and still continue to receive HRA, it will be taxable.  HRA exemption available to Lower of following three
a.Total HRA received from your employer
b. Rent paid less 10 percent of (Basic salary +DA)
c. 40 percent of salary (Basic+DA) for non-metros and 50 percent of salary (Basic+DA) for metros
STANDARD DEDUCTION Rs. 40,000 Standard deduction for  Assessee who has Salary/ Pension Income
the standard deduction of Rs 40,000 replaces medical allowance of Rs 15,000 and transport allowance of Rs 1600 per month i.e. 19,200 per annum
LET’S FIND BREAKE-EVEN INCOME , WHERE YOU HAVE NO TAX TO PAY
ASSUMPTION – THESE CALCULATIONS ARE  DONE KEEPING IN MIND SALARIED PERSONS
FINANCIAL YEAR 2018-2019    /   ASSESSMENT YEAR  2019-2020
<60 <80 >80
 GROSS INCOME                                   725,000                                   840,000                                   990,000
DEDUCTIONS FROM INCOME LESS
STANDARD DEDUCTION                                     40,000                                     40,000                                     40,000
24                                   200,000                                   200,000                                   200,000
80C                                   150,000                                   150,000                                   150,000
80TTA                                     10,000
80TTB                                     50,000                                     50,000
80D                                     25,000                                     50,000                                     50,000
NET INCOME WHERE THERE WONT BE ANY TAX  TOTAL INCOME                                   300,000                                   350,000                                   500,000
TAX ON ABOVE INCOME                                        2,500                                        2,500                                               –
 REBATE AS PER 87A                                      -2,500                                      -2,500                                               –
ACTUAL TAX LIABILITY 0 0 0
– PREPARED BY CA HARSHIL SHETH                     9879831157
H A SHETH & ASSOCIATES     |     CA   HARSHIL SHETH  |  FCA,MBA,BBA,DISA  |     [email protected]     |   
58 , Vardhmannagar society , Caravan school lane , Behind Sardar Garden , Kalol ( North Gujarat ) – 382721
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