Procedure to calculate income tax in case of Employee with handicapped dependent
For Financial Year 2015-16 ( Assessment Year 2016-17)
Calculation of Income Tax in the case of an employee below the age of sixty years having a handicapped dependent (With valid PAN furnished to employer).
| S.No. | Particulars | Rupees |
| 1 | Gross Salary | 4,20,000 |
| 2 | Amount spent on treatment of a dependant, being person with disability (but not severe disability) | 7000 |
| 3 | Amount paid to LIC with regard to annuity for the maintenance of a dependant, being person with disability ( but not severe disability) | 60000 |
| 4 | GPF Contribution | 25000 |
| 5 | LIP Paid | 10000 |
| 6 | Interest Income on Savings Account | 12000 |
calculate income tax in case of Employee with handicapped
| S.No. | Particulars | Rupees |
| 1 | Gross Salary | 420000 |
| 2 | Add: Income from Other Sources Interest Income on Savings Account | 12000 |
| 3 | Gross Total Income | 432000 |
| 4 | Less: Deduction U/s 80DD (Restricted to Rs.60,000/- only) | 60000 |
| 5 | Less: Deduction U/s 80C (i) GPF Rs.25,000/- (ii) LIP Rs.10,000/- = Rs.35,000/- | 35000 |
| 6 | Less: Deduction u/s 80TTA on Interest Income on savings account (restricted to Rs 10000/-) | 10000 |
| 7 | Total Income | 327000 |
| 8 | Income Tax thereon/payable (includes Rebate of Rs 2000 as per Section 87A) (Check Income tax Slab rate ) | 5700 |
| 9 | Add: (i). Education Cess @2% (ii). Secondary and Higher Education Cess @1% | 114 57 |
| 10 | Total Income Tax payable | 5871 |
| 11 | Rounded off to | 5870 |