Deduction of allowances from salary income

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Raj Kumar G S (Querist)
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17 July 2012 Dear Sir,

I am drawing salary of Rs. 300000/- per anum in a pvt Ltd company

please inform me the deduction of various allowances which i can deduct in my salary for tax saving

Regards

Raj Kumar

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Guest (Expert)

17 July 2012 kindly ans the following question:
1. Are you staying in rented house or owned house?
2. Which is your city of work?

Tushar Desai

Tushar Desai (Expert)
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17 July 2012 You can take benefit from various allowances like HRA, Conveyance, LTA, Medical, Child Edu All, Child Hostel All, etc..

Now, it depends on composition of your pay package..

Raj Kumar G S

Raj Kumar G S (Querist)
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17 July 2012 Dear Sir,

My Salary Package is Rs. 300000/-
Iam residing in Rent House
At what percentage my Rent allowance should i deduct on which basis, now Iam paying 9000/- rent per month
please send the structure with all allowances deduction to avoid TDS & Income Tax

Tushar Desai

Tushar Desai (Expert)
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17 July 2012 1. Is your city of residence a metro city or a non-metro?

2. What is your Monthly Basic & Monthly HRA?

3. Any LTA & Medical All being paid?

4. are you being paid Conveyance All or similar allowance??

5. Pls provide exact break-up of your 300000/- package.

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