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(Querist)
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.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
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. .
.
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