Respected Experts

Please educate me regarding the various limits available for tax relief for the following items for a salaried employee of an organisation

Also how can an employee avail these deductions while calculating his income tax amount to be filed.(Documents that need to be submitted)


Child Education Allowance

Medical Reimbursement receipts submitted

Transport/Conv. Allowance

LTA receipt submitted

Food Coupons

Periodical Journals

Uniform/Dress Allowance

Telephone Reimbursement receipts submitted

Prof. Development receipts submitted

Car Expenses Reimbursement receipts submitted

Driver Salary receipts submitted

Internet expense receipts submitted

Is Performance Incentive/Bonus taxed with Gross salary(clubbed) or separately.

Much obliged as always & awaiting your valuable responses.

Regards

Roshini Arya

Respected Experts
I have a query regarding HUF.
If an employee working for a company wants a part of his gross salary be paid as a gift to HUF for an amount of not more than Rs 50000 can the organisation do so and if yes under what header will such a transaction be recorded as.
Also how can an individual having a HUF account save tax from the salary he draws from an organisation as an individual.
Please clarify.
Much Obliged
Roshini Arya

Respected Experts


I have a query regarding Tax deduction from salary Is it possible that gratuity being tax exempt be deducted from the very first month of joining a company

For eg Mr A joins a company XYZ ltd with a gross salary of Rs 12 lacs PA.His basic gross salary is 40% of his gross salary which is Rs 480000 pe and gratuity is given to him at the rate of Rs 276923.08 PA. This amount of gratuity is part of his CTC of Rs 12 lacs but is exempt from IT as the limit is Rs 10L.

If it is OK to pay then should it be paid as a lump sum amount or every month as a head in the salary.

Can the organisation do this for a given employee to reduce his tax burden.


Please clarify my query. I would be much obliged


ROSHINI ARYA

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Q.. Mr .X - salary income-530000 , interest income from post office-15000. calculate total income of Mr. X

Ans.-income under the head salary
salary income= 530000

income under the head other source
interest income= 15000
exempt u/s 10(15)=15000 = nil
gross total income= 530000
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Hi..dear
Good morning
My question is can head office transfer VAT amount 100% to another branch established in another state.
For exam-
Head office in new Delhi purchased in Delhi, stored in Delhi central stores office,After requisition from Branch in MP state issue goods and total VAT amount paid already at time purchase.
Can do this type practice plz suggest as soon as possible.

Sir/Mam

I have just completed my 2 Years and 1 month articleship. My parents are shifting from 1 place to another due to some domestic reasons. I just want to know what type of proof are required to be submitted to my CA for taking transfer and is it complusory that i cant register myself as article within 50 km of earlier city.
Please reply me as soon as possible as it is very urgent.