Hi All,
I am from Software professional from IT industry.
My CTC is 2,50,000 per annum.
Since i am working on Client location my salary is credited as 37,334 per month including allowances from July 2012.
Monthly Salary + Travel Allowance + Onsite Allowance + HRA = Net Salary
(20834 + 2500 + 7500 + 6500 = 37334).
When i checked with HR department, i got below reply from them
"Have checked your gross income will not fall under taxable income. From
the CTC if we deduct the HRA, other allowances and conveyance charges the
gross income will be less than 2lakhs, and as per IT slab, up to 2lakhs
there is no tax."
Please give me detail information whether i comes under INCOME TAX range or not if yes then how much deduction will be done.
With Regards,
Antu.
CAclubindia
