\n| \n Particulars<\/strong><\/p>\n<\/td>\n| \n Rs.<\/strong><\/p>\n<\/td>\n| \n Rs.<\/strong><\/p>\n<\/td>\n<\/tr>\n\n| \n Income From Salary<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Salary <\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Allowances received (taxable allowances)<\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Taxable value of perquisite <\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n <\/p>\n<\/td>\n | \n =====<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Gross Salary<\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Less: Deduction under section 16<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Professional Tax<\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Entertainment allowance<\/p>\n<\/td>\n | \n Xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n <\/p>\n<\/td>\n | \n =====<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Income From Salary (1)<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n | \n| \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Income from house property<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted net annual value<\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Less: Deduction under section 24 <\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n <\/p>\n<\/td>\n | \n =====<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Income From House Property (2)<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n | \n| \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Profit and gains of business and
\n profession<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Net Profit as per profit an d loss account<\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Add:- Income which are debited to profit and loss account but not allowable
\n as deduction <\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Less:- Expenditure which are not debited to profit and loss account
\n but allowable as deduction <\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Less:-Income which are credited to profit and loss account but are
\n exempt under section 10 or taxable under any other head of income<\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Add:- Income which are not credited to profit and loss account but
\n are taxable under the head \u201cProfit and gains of business or profession\u201d<\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n <\/p>\n<\/td>\n | \n =====<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Profit and gains of business and profession (3)<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n | \n| \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Capital Gains<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Amount of capital gain <\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Less: Amount exempt under section 54 to 54H<\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n <\/p>\n<\/td>\n | \n =====<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Income From Capital gain (4)<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n | \n| \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Income from other sources<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Gross Income<\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Less: Deduction under section 57<\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n <\/p>\n<\/td>\n | \n =====<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Income From Other Sources (5)<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n | \n| \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n =====<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total Income (1+2+3+4+5)<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n | \n| \n Less:- Adjustment on account of setoff and carried forwarder of
\n losses<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n | \n| \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n =====<\/p>\n<\/td>\n<\/tr>\n | \n| \n Gross Total Income<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n | \n| \n Less:-Deduction under section 80C to 80U<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n | \n| \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n =====<\/p>\n<\/td>\n<\/tr>\n | \n| \n Net Income rounded-off nearest Rupee ten<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n | \n| \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Computation of tax liability<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Tax on net income<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n | \n| \n Less: Rebate<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n | \n| \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n =====<\/p>\n<\/td>\n<\/tr>\n | \n| \n Balance<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n | \n| \n Add:-Surcharge<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n | \n| \n Tax and Surcharge<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n =====<\/p>\n<\/td>\n<\/tr>\n | \n| \n Add:-Education Cess<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n | \n| \n Less:- Prepaid Taxes<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Tax deducted as sources (TDS)<\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Advance Tax<\/p>\n<\/td>\n | \n xxxxx<\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n<\/tr>\n | \n| \n Self Assessment Tax<\/p>\n<\/td>\n | \n Xxxxx<\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n | \n| \n <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n =====<\/p>\n<\/td>\n<\/tr>\n | \n| \n Tax Liability \/ Refund <\/p>\n<\/td>\n | \n <\/p>\n<\/td>\n | \n XXXXX<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Computation of Income for an assessment Year \u2026. Particulars Rs. Rs. Income From Salary Salary xxxxx Allowances received (taxable allowances) xxxxx Taxable value of perquisite xxxxx ===== Gross Salary xxxxx Less: Deduction under section 16 Professional Tax xxxxx Entertainment allowance Xxxxx ===== … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[9],"tags":[26],"class_list":["post-539","post","type-post","status-publish","format-standard","hentry","category-students","tag-income-tax"],"yoast_head":"\nFormat for Computation of Income under Income Tax Act - All About Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taxclick.org\/type\/students\/format-for-computation-of-income-under-income-tax-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Format for Computation of Income under Income Tax Act - All About Finance\" \/>\n<meta property=\"og:description\" content=\"Computation of Income for an assessment Year \u2026. 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