14 October 2010
I HAVE JOINED THE NEW FIRM FROM 1ST OCT 2010 MY SALARY IS RS.42000/- PER MONTH AS MY EMPLOYER IS ASKING FOR SEGREGATION OF MY SALARY SUCH AS BASIC SALARY, HRA, MEDICAL ALLOWANCE, TAVELLIING ALLOWANCE ETC. SUGGEST ME THE BEST WAY TO PRESENT THE SEGREGATION SO THAT LESS TAX IS DEDUCTED AND I CAN SAVE MY TAX AT PRESENT I AM PAYING RS.35000 PER YEAR FOR LIC
FROM 1/4/2011 THERE WILL BE INCREMENT IN MY SALLARY AND MY GROSS SALARY WIL BE 5,50,000 SO KINDLY SUGGEST ME THE BEST WAY FOR FUTURE TAX REBATE AND BENEFIT TO BE TAKEN FRON HRA ETC THANKIGN YOU
Please provide for HRA (40% of Basic), Conveyance Rs. 800.00 per month, Children education allowance (Rs.100 per kid upto two kids), Medical reimbursement of Rs. 15000 per annum and LTA. Keep the basic at around 40-50% of gross salary.
14 October 2010
Basic 21000 HRA 8400 Conv. 800 Medi.Allw.1250 other allw. 10550.
you have to invest more u/s80C and get tax benefit. Please take health insurance upto 15K u/s 80D. Please donate to eligible instituion u/s 80G which helps them even you.
CAclubindia
