Name of Assessee SADASIVA MURTHY PALAKOLLU

Father's Name Sri NAGAIAH PALAKOLLU

Address 123,Bhajanamandir
S.O,Kothagudem,KHAMMAM,KHAMMAM,TELANGANA,507101
E-Mail saijyothimurthy1@gmail.com
Status Individual Assessment Year 2023-2024
Ward Year Ended 31.3.2023
PAN AHAPP6520B Date of Birth 29/05/1962
Residential Status Resident Gender Male
Original Return 20/06/2023 Acknowledgement No: 267907440200623
Aadhaar No: 367805862526 Mobile No Linked with
Aadhaar:
Bank Name CANARA BANK, KOTHAGUDEM, A/C NO:111000046582 ,Type: Saving
,IFSC: CNRB0004498
Tele: 9866241479 Mob:9059317178

Computation of Total Income (revised) [As per Normal Provisions]

Income from Salary (Chapter IV A) 938129

CANARA BANK
Employer Status: PSU.
6648, 112, JC Rd, P.B, Halsurpete,
Nagarathpete, BENGALURU
KARNATAKA-560001
Salary 282172
OTHER 3004
OTHER 345595
Gratuity 1916392
Leave Encashment on Retirement 613867
3161030
Less:
OTHER Exempt 3004
OTHER Exempt 345595
Gratuity Exempt u/s 10(10) 1916392
Leave Encashment Exempt u/s 10(10AA) 300000
2564991
596039
CANARA BANK (EMPLOYEES')
Employer Status: PSU.
6648, 112, JC Rd, P.B, Halsurpete,
Nagarathpete, Bengaluru
KARNATAKA-560001
Salary 392490
Commuted Pension 1486804
1879294
Less:
Commuted Pension Exempt u/s 10(10A) 1486804
1486804
392490
Gross Salary 988529
Less: Standard Deduction u/s 16(ia) 50000
NAME OF ASSESSEE : SADASIVA MURTHY PALAKOLLU A.Y. 2023-2024 PAN : AHAPP6520B Code
:AUTO-00161

Professional Tax u/s 16(iii) 400

50400
938129

Income from House Property (Chapter IV C) -200000

PRAGATHI NAGAR KUKATPALLY

HYDERABAD(TELANGANA)-500090
Tenant Name: AB INBEV GCC SERVICES INDIA
PRIVATE LIMITED
Annual Lettable Value 269327
Rent Receivable 269327
Higher of above 269327
Annual Rental Value u/s 23 269327
Less:
House Tax Paid 14512
14512
254815
Less:
Deduction u/s 24(a) 76445
Interest 412500
488945
-234130
As per section 71(3A), House Property loss exceeding 200000/- cannot be set off against
other head of income.

Income from Other Sources (Chapter IV F) 267888

Interest From Saving Bank A/c(as per Annexure) 10896

Interest on F.D.R.(as per Annexure) 237976
Dividend From Shares 19016
267888

Gross Total Income 1006017

Less: Deductions (Chapter VI-A)

u/s 80C
P.F. 18295
House Loan 215600
Total 233895
150000
u/s 80TTB (Interest From Saving Bank Account & FDR.) 50000
200000
Total Income 806017
Round off u/s 288 A 806020
Income Exempt u/s 10 6392229
Adjusted total income (ATI) is not more than Rs. 20 lakh hence AMT not applicable.
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 NAME OF ASSESSEE : SADASIVA MURTHY PALAKOLLU A.Y. 2023-2024 PAN : AHAPP6520B Code
:AUTO-00161

Tax Due (Exemption Limit Rs. 300000) 71204

Health & Education Cess (HEC) @ 4.00% 2848
74052
T.D.S./T.C.S 89872
-15820
Refundable (Round off u/s 288B) 15820

Tax calculation on Normal income of Rs 806020/-

Exemption Limit :300000
Tax on (500000 -300000) = 200000 @5% = 10000
Tax on 500001 to 806020 = 306020 @20% = 61204
Total Tax = 71204

T.D.S./ T.C.S. From

Non-Salary(as per Annexure) 1900
Salary(as per Annexure) 87972
Assessee is Senior Citizen Individual and there is no Business Income in current financial year. So there is
no advance tax liability according to section 207.

Details of Exempt Income

S.No. Particulars Amount
CANARA BANK
1 OTHER 3004
2 OTHER 345595
3 Gratuity Exempt u/s 10(10) 1916392
4 Leave Encashment Exempt u/s 10(10AA) 300000
CANARA BANK (EMPLOYEES')
5 Commuted Pension Exempt u/s 10(10A) 1486804

6 10(6)-Remuneration received as an official of an e 2340434

Total 6392229
Due Date for filing of Return July 31, 2023
Statement of Current Year Loss Adjustment
Head/Source of Income Current Year House Property Business Loss of Other Sources Current Year Income
Income Loss of the the Current Year Loss of the Remaining after Set
Current Year Set Set off Current Year Set off
off off
Loss to be adjusted 234130
Salary 938129 200000 NIL NIL 738129
House Property NIL NIL NIL NIL
Business NIL NIL NIL NIL
Speculation Business NIL NIL NIL NIL NIL
Short term Capital Gain NIL NIL NIL NIL NIL
Long term Capital Gain NIL NIL NIL NIL NIL
Other Sources 267888 NIL NIL 267888
Total Loss Set off 200000 NIL NIL

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 NAME OF ASSESSEE : SADASIVA MURTHY PALAKOLLU A.Y. 2023-2024 PAN : AHAPP6520B Code
:AUTO-00161

Loss Remaining after 34130 NIL NIL

set off
Statement of House Property losses Brought/Carried Forward
Assessment Year Brought Forward Set off Carried Forward
Current Year Loss 34130
Total 0 0 34130

Bank Account Detail

S. No. Bank Address Account No MICR NO IFSC Code Type
1 CANARA BANK KOTHAGUDEM 111000046582 CNRB0004498 Saving(Primary)

Details of Interest From Bank

S.NO. PARTICULARS AMOUNT
1 CANARA BANK 10896
TOTAL 10896

Details of Interest on F.D.R.

S.NO. PARTICULARS AMOUNT
1 CANARA BANK 210226
2 CANARA BANK SCSS 27750
TOTAL 237976

Details of T.D.S. on Non-Salary(26 AS Import Date:16 Mar 2024)

S.No Name of the Deductor Tax deduction A/C No. of Total Tax deducted Amount out of (4)
the deductor claimed for this year
1 CANARA BANK BLRC19652D 1900 1900
TOTAL 1900 1900

Head wise Summary on Income and TDS thereon

Head Section Amount As per Location of Income for TDS
Paid/Credited As Computation Comparison
per 26AS
Other Sources 194 19016 267888 Dividend Income:19016 1900
Interest Income:248872
Other Sources 194A 237976 as above as above
Total 256992 267888 1900

Details of T.D.S. on Salary(26 AS Import Date:16 Mar 2024)

S.No Name of the employer Tax deduction A/C No. of Income chargeable Tax deducted at source
the deductor under the head Salaries u/s. 192(1)
1 CANARA BANK (EMPLOYEES') BLRC01015A 1879294 0
2 CANARA BANK BLRC11915B 5501463 87972
TOTAL 7380757 87972

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 NAME OF ASSESSEE : SADASIVA MURTHY PALAKOLLU A.Y. 2023-2024 PAN : AHAPP6520B Code
:AUTO-00161

Details of Taxpayer Information Summary (TIS)

S.NO INFORMATION CATEGORY DERIVED As Per Computation Difference
. VALUE(Rs.)
1 Dividend 19016 Dividend From Shares 19016 NIL
2 Interest from deposit 237976 Interest on FDR 237976 NIL
3 Interest from savings bank 10896 Interest from saving bank 10896 NIL
a/c
4 Purchase of time deposits 9079227
5 Rent received 269327 Rent Receivable 269327 NIL
6 Salary 7380757 CANARA BANK 3161030
CANARA BANK 1879294
(EMPLOYEES')
Pf Withdrawal 2340433
7380757 NIL
7 Sale of securities and units of mutual fund 207

CANARA BANK
Taxable Value of Gratuity
Actual Gratuity 1916392
Less: Exempt u/s 10(10) to The Extent of Least of The Following:
1. Rs. 2000000/-
2. Actual Gratuity Rs. 1916392/-
3. 163569 / 2 x 36 = Rs. 2944242 1916392
Taxable Value of Gratuity 0

Taxable Value of Leave Encashment on Retirement

Actual Leave Salary 613867
Less: Exempt u/s 10(10AA) to The Extent of Least of The Following:
1. Cash Equivalent of Leave ( Rs. 163569 x 4.13) 675540
2. 10 Months Salary ( Rs. 163569 x 10) 1635690
3. Maximum Amount Not Taxable 300000
4. Actual Leave Salary 613867 300000
Taxable Value of Leave Encashment on Retirement 313867

CANARA BANK (EMPLOYEES')

Taxable Value of Commuted Pension
Commuted Pension 1486804
Less:Commuted Pension Exempt u/s 10(10A)(1486804 x 100 / 33 x 1/2) 1486804
Taxable Value of Commuted Pension 0

Signature
(SADASIVA MURTHY PALAKOLLU)
Date-16.03.2024
CompuTax : AUTO-00161 [SADASIVA MURTHY PALAKOLLU]

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