For Assessment Year 2013-14
A. Calculation of Income tax in the case of a retired employee above the age of 80 years and having gross pension of:
iii. Rs. 4,50,000/-,
iv. Rs. 8,00,000/-,
B. What will be the amount of TDS in case of above employees, if PAN is not submitted by them to their DDOs/Offices:
| Particulars | Rupees (i) | Rupees (ii) |
| Gross Pension | 4,50,000 | 8,00,000 |
| Contribution of P.P.F. | 70,000 | 70,000 |
Computation of Total Income and tax payable thereon
| Particulars | Rupees (i) | Rupees (ii) |
| Gross Pension | 4,50,000 | 8,00,000 |
| Less: Deduction U/s 80C | 70,000 | 70,000 |
| Taxable Income | 3,80,000 | 7,30,000 |
| Tax thereon | Nil | 46,000 |
Add:
(i) Education Cess @ 2%.
(ii) Secondary and Higher Education Cess @ 1%
|
920
460
|
|
| Total tax payable | Nil | 47,380 |
| TDS under sec. 206AA in case where PAN is not furnished by the employee | Nil | 1,46,000 |
