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Income tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 August 2011 Dear Sir/ madam,

I need to ask you as what would the standard deduction for a salaried professional earning 24 lacs ctc per annum. what all provisions can he claim and what all deductions will be considered for such a CTC. Please give an idea as to how to save tax.

regards
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MAHENDRA KUMAR BAGRECHA

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MAHENDRA KUMAR BAGRECHA (Expert)
03 August 2011 Hi,

There is not standard deduction from salary at present. You can have following break ups of your salary structure to get tax benefits:
1.HRA
2.Conveyance
3.Medical allowance
4.Children Education Allowance

There are subject to fulfilment of other conditions.
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