salary related
This query is : Resolved
29 April 2010
if an employee gets a job and he is offered a package of Rs.400000/- p.a and is asked how he wants the breakup of salary so that his tax burden is totally reduced
29 April 2010
Pls metnion What are the components of salary to which you are allowed to allocate this amt?
basically it is Basic, HRA, LTA, Medical reimbursement, DA, ..
basically it is Basic, HRA, LTA, Medical reimbursement, DA, ..
29 April 2010
its a pvt. ltd. co and the employee has been given the option to decide his basic hra etc he will be given as he says
29 April 2010
For maximum getting exemption and lower taxabale salary following structure to be made.
Basic
HRA 50% of Basic
Conveyance
Out of pocket exp -it is not a part of salary
Medical Reimbursement
Canteen
etc
Basic
HRA 50% of Basic
Conveyance
Out of pocket exp -it is not a part of salary
Medical Reimbursement
Canteen
etc
29 April 2010
You should keep it like
Basic Salary-17880
HRA-40%/50% of basic as the case may be.
Education Allowance-800p.m
Transportation expense(against bills)-5000p.m.Or Conveyance allowance-800p.m.
Medical reimbursment against bills-15000p.a
Opt for LTA which will be tax free once in two years-15000p.a.
In this way Non taxable income will be
LTA,Medical reimbursment,Education allowance,Transportation & vehicle expenses reimbursment(I have taken it 5000p.m),HRA
I hope it will solve your purpose.
Basic Salary-17880
HRA-40%/50% of basic as the case may be.
Education Allowance-800p.m
Transportation expense(against bills)-5000p.m.Or Conveyance allowance-800p.m.
Medical reimbursment against bills-15000p.a
Opt for LTA which will be tax free once in two years-15000p.a.
In this way Non taxable income will be
LTA,Medical reimbursment,Education allowance,Transportation & vehicle expenses reimbursment(I have taken it 5000p.m),HRA
I hope it will solve your purpose.
29 April 2010
Basic,
HRA,
LTA,
Medicalreimbursment,
Education allowance,
Hostel expenditure allowance
Transportation allowance
Food Facilites
& vehicle expenses reimbursment,
HRA,
LTA,
Medicalreimbursment,
Education allowance,
Hostel expenditure allowance
Transportation allowance
Food Facilites
& vehicle expenses reimbursment,
30 April 2010
kindly help me regarding education allowance if if an employee incurs 7000 pm on education can he reimburse from his employeer and such reimbursment is tax free
30 April 2010
Sorry. I forgot to mention as children education allowance. Rs.100 per child per month maximum two child exempted
30 April 2010
what about helper allowance can we claim around 50000 as helper allowance
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