Full & final settlement
This query is : Resolved
28 November 2013
I have a query if an employee whose salary to be paid is as follows:
Salary 1,15,095
LTA 69,424
Variable Pay 52,023
Is he taxable on this amount.
Salary 1,15,095
LTA 69,424
Variable Pay 52,023
Is he taxable on this amount.
28 November 2013
LTA is exempt twice in the block of 4 years.
.
In Form 16 -how this amount has been shown.
Whether it's full exempt amount or amount after exemption ?
.
In case the entire amount has been exempted
in Form 16 under the head allowances exempt U/s 10, then no tax is payable.
.
When 69424 is the taxable amount then tax is required to be paid by adding all the three.
.
Variable pay is taxable. .
.
.
In Form 16 -how this amount has been shown.
Whether it's full exempt amount or amount after exemption ?
.
In case the entire amount has been exempted
in Form 16 under the head allowances exempt U/s 10, then no tax is payable.
.
When 69424 is the taxable amount then tax is required to be paid by adding all the three.
.
Variable pay is taxable. .
.
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