Regarding salary

This query is : Open

sandeep (Querist)
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06 May 2016 FOLLOWING SALARY BREAK UP IS MADE FOR A PVT SALARIED EMPLOYEE FOR A.Y 2016-2017 -
YEARLY INCOME BASIC 168000
HRA 67200
TRANSPORT ALLOW 48000
EDUCATION ALLOWANCES 12000
HOSTEL ALLOWANCES 24000
OVERTIME ALLOWANCES 16800
total 336000
PLS EXPLAIN IN DETAIL IS THERE NIL TAX PAYABLE ON THAT INCOME.

CA Darshan

CA Darshan (Expert)
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07 May 2016 Particulars Amount
Total CTC 336000
Less
HRA (Assuming no Home) 67200
Conveyance 19200
Medical 25000

Taxable Income 224600
(Assuming no other Income)
Tax Payable Nil
(Since Net income is below exemption limit)

sandeep

sandeep (Querist)
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10 May 2016 is that hostel and education allowances are exempgt