Method to ascertain Basic Salary.
This query is : Resolved
Guest
Guest
(Querist)
25 July 2010
Dear Experts,
A is a salaried individual working in a Sole Proprietorship Firm.
A has been paid consolidated salary of Rs.27000/-.
A has been making monthly rent payment of Rs.6000/-.
While I am aware that amounts are fixed for Conveyance Rs.800/- p.m. and Reimbursement of Medical Expenditure Rs.1250/- p.m., I am unable to understand the basis to ascertain the Basic Salary in order to arrive out the HRA.
Query
How do we ascertain the Basic Salary ?
Ans : ..............
What is the basis for the Employer to find out the HRA, if A has been making monthly rent of Rs.6000/- p.m. ?
Ans : ..............
Whether the Employer can simply take the actual amounts paid by A and mention in Form 16 as HRA ?
Ans : ..............
I request the Experts to give clarity on the matter.
A is a salaried individual working in a Sole Proprietorship Firm.
A has been paid consolidated salary of Rs.27000/-.
A has been making monthly rent payment of Rs.6000/-.
While I am aware that amounts are fixed for Conveyance Rs.800/- p.m. and Reimbursement of Medical Expenditure Rs.1250/- p.m., I am unable to understand the basis to ascertain the Basic Salary in order to arrive out the HRA.
Query
How do we ascertain the Basic Salary ?
Ans : ..............
What is the basis for the Employer to find out the HRA, if A has been making monthly rent of Rs.6000/- p.m. ?
Ans : ..............
Whether the Employer can simply take the actual amounts paid by A and mention in Form 16 as HRA ?
Ans : ..............
I request the Experts to give clarity on the matter.
27 July 2010
Basic salary is based on the employer policy and HRA can be 40% or 50% on basic.so consult your employer based on the tax savings you decide your salary structure
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