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Salary Structure (Income Tax)

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This query is : Resolved

Author : Anonymous

( Author )
28 May 2010

Hi Could you suggest a Salary Structure for an employee whole salary is Rs,110000 per month. There is no PF deduction in his organisation. He pays monthly rental of 20000. Has a LIC policy of approx.19000. PPF annual deposit of 20000, pays school fees of 2 kids approx @ Rs.8000 per month. Has an aged mother(65+),generally incurs a monthly medical expenditure of Rs.3000-4000

Pl advice what should be his structure so that he can take maximum benefit of the exemptions.

Tks.


CA. B.SRINIVASULU

( Expert )
28 May 2010

Basic and DA - 30000
HRA - 20000
Conveayce - 1000
Medical - 1500
Childer edu - 2500
Attire - 10000
Special - 45000

If work out the tax liability by giving chapter VI a benefits the tax burden will be minimal


Author : Anonymous

( Author )
28 May 2010

Thanks Mr.Srinivasulu. Could you also tell me what shall be the tax liability?


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