SALARY STRUCTURE FOR TAX BENEFITS

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This discussion explores how to optimise salary structures to achieve the greatest tax benefits for employees. It highlights that the old tax regime may be more advantageous if deductible investments and expenses surpass £375,000 annually. Conversely, the new regime could be simpler and more efficient for those with fewer deductions. The conversation also touches upon identifying salary components that qualify for tax exemptions.

Trupal Pandya

Trupal Pandya (Querist)
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26 July 2024 Dear Sir,
Request you to provide salary structure so employee can get maximum tax benefit for company.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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26 July 2024 Generally, if your deductible investments and expenses exceed Rs. 3,75,000 per year, the old regime could be more beneficial.

If your deductions are limited or negligible, the new regime might be simpler and more efficient.

Trupal Pandya

Trupal Pandya (Querist)
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27 July 2024 Thanks for reply. Request you to provide heads of salary
which fall under exemption.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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27 July 2024 https://taxguru.in/income-tax/list-allowances-perquisites-deductions-salaried-persons.html

Trupal Pandya

Trupal Pandya (Querist)
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27 July 2024 Thank you for your reply.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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27 July 2024 You are welcome.