I am working with a construction company as project co.ordinator and drawing salary Rs.50000/- pm
with CCA & Spl.Allowance (each 8000/- pm). Any exemption is covered for CCA & Spl.All.
4 Replies
Ashish Sharma
(Service)
(1028 Points)
Replied 13 February 2010
No CCA and Special allowance is fully taxable
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2998 Points)
Replied 13 February 2010
Ur Tax Computation
Basic Salary 50000*12 600000
CCA 8000*12 96000
& spl allowance 8000*12 96000
total salary 792000
Less: transport allowance u/s 10 800*12 9600
total taxable salary 782400
tax on ur income
Rs. 160000 Nil
upto 300000 14000 (140000*10%)
upto 500000 40000 (200000*20%)
balance 282400 84720 (282400*30%)
total tax 138720
add : edu. cess 3% 4162
total tax payable 142882
regards,
ratan
note: plz provide HRA & ur investment details too.
CA. Abhishek K. Pandey
(Manager (Advance))
(901 Points)
Replied 13 February 2010
How transport allowance can be deducted? He doent mention that he is getting any transport allowance. Transport allowance's exemption depends on actual expenditure. But he is not geeting any.
@ author. Both are fully taxable.
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2998 Points)
Replied 13 February 2010
Dear Abhishek,
i m assumed that Special allowance covers transport allowance allowance. thnx for giving attention to this point.
regards,
ratan
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